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GED

General Education Development Certificate. A certificate students receive if they've passed a specific, approved high school equivalency test. Students who don't have a high school diploma but who have a GED may still qualify for federal student aid. A school that admits students without a high school diploma must make a GED program near the school available to these students and must inform them about the program.

GED Recipient

A person who has obtained certification of high school equivalency by meeting state requirements and passing an approved exam, which is intended to provide an appraisal of the person's achievement or performance in the broad subject matter areas usually required for high school graduation. (See General Educational Development Test.)

General Education Development Certificate

A certificate students receive if they've passed a specific, approved high school equivalency test. Students who don't have a high school diploma but who have a GED may still qualify for federal student aid. A school that admits students without a high school diploma must make a GED program near the school available to these students and must inform them about the program.

General Educational Development (GED) Test

A test administered by the American Council on Education as the basis for awarding a high school equivalency certification. Graduate: An individual who has received formal recognition for the successful completion of a prescribed program of studies.

Gift Aid

Financial aid that a student is not required to repay or earn through employment. Generally, gift aid is in the form of a grant or scholarship.

GPA

Grade point average. An average of a student's grades, where the grades have been converted to a 4.0 scale - with 4.0 being an A, 3.0 being a B, and 2.0 being a C.

Grace Period

The period that begins the day after a loan recipient ceases to be enrolled at least half time and ends the day before the loan repayment period starts. Some loans have a grace period so that repayment doesn't begin until several months after graduation. Grace periods are specified in your promissory note.

Grade Point Average

An average of a student's grades, where the grades have been converted to a 4.0 scale - with 4.0 being an A, 3.0 being a B, and 2.0 being a C. Also, know as GPA.

Graduate Record Examination (GRE)

Multiple-choice examinations administered by the Educational Testing Service (ETS) and taken by applicants who plan to attend certain graduate schools. Two generalized tests are offered, plus specialized tests in a variety of subject areas. Ordinarily, a student will take only the specialized test that applies to the intended field of study.

Graduate Student

A student in a postsecondary institution who is enrolled in a master's or higher-level degree program.

Grant (Programs)

Gift aid programs that require neither repayment nor a work obligation from students. Federal Title IV grant programs are the Federal Pell Grant, Federal Supplemental Educational Opportunity Grant (FSEOG), and State Student Incentive Grant (SSIG). See individual grant program names.

Grants

Also known as scholarships, these are funds for postsecondary education that do not have to be repaid.

Gross Income

Income before taxes, deductions, and allowances have been subtracted.

Guarantor

State agency or private non-profit institution that insures student loans for lenders and helps administer the FFELP. See also guaranty agency.

Guaranty Agency

A state agency or private, nonprofit institution or organization that administers the financial aid programs within the Federal Family Education Loan (FFEL) Program. One major function is to insure Federal Family Education Loans. Guaranty agencies are reimbursed by the federal government for all or part of insurance claims they pay to lenders.

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