Glossary of Terms
Assets- Assets means your family's financial worth. Assets include the equity in family's house and other real estate, stocks, bonds, and cash savings.
Benefits- Usually money, such as Social Security, Veteran's Benefits or TANF.
Cal Grant- The Cal Grants A, B, and C are State grants.
CSU- An abbreviation for California State University. There are 19 campuses in California.
EOP/EOPS- Educational Opportunity Programs, Extended Opportunity Program and Services.
Equity- The current value of your family home minus the amount of money still owed on it.
Financial Aid Office - The financial aid office at each school is responsible for evaluating student's eligibility for aid and awarding the available aid funds.
Financial Aid Need - The difference what you and your parents can contribute to the cost of your education and the cost of going to the school or college of your choice. Your financial need is the amount of financial aid that you are eligible to receive.
Grant - Grand aid is financial aid that you do not have to repay.
Income - Money earned from salary, wages, interest, dividends, also welfare, Social Security payment, and pensions.
Independent College - A College not governed by a government organization.
Need Analysis Service - Organization that estimates how much money you and your parents can contribute to your education.
Package - The financial aid offer from the institutions that is usually made up of a combination of grants, and/or work aid.
Pell Grant - A federal grant that is available to any undergraduate student with financial need.
SAT- Scholastic Aptitude Test, required by some colleges for admission.
Scholarship - A grant awarded on the basis of grades or other achievement; may or may not be based on financial need.