Financial Aid Terms

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Academic Year: The nine months a student is enrolled–two semesters, usually August through May.

Aid Eligibility: The difference between the total cost of education and the expected family contribution; the total amount of assistance for which you may be eligible during the academic year.

Direct Costs: Charges billed by the university: tuition, room and board, and fees.

EFC: Expected Family Contribution, calculated by the federal methodology using information you provided on the FAFSA.

FAFSA: Free Application for Federal Student Aid.

Family Responsibility: The difference between direct charges and the assistance you have been offered (excluding the Federal Work-Study Program).

Indirect Costs: Living expenses incurred by the student while attending school: books, transportation and personal expenses.

Merit and Talent Awards: Awards based on academic achievement or performance ability.

Need-based Assistance: Awards based on aid eligibility.

Self-help: Loans and student employment opportunities.

Total Cost of Education: All expenses involved in attending college for an academic year: tuition, room and board, books and supplies, transportation, and personal expenses.

UAPP: University of Indianapolis Financial Aid Application.