E

A : B : C : D : E : F : G : H : I : J : K : L : M : N : O : P : Q : R : S : T : U : V : W : X : Y : Z

Early Action

A college admissions program that consists of earlier deadlines and notification dates than the regular admissions process, but that does not require a binding commitment of the student if admission is offered. The student applying under this program may apply to many schools. The student will not know what financial aid will be awarded prior to committing.

Early Admission

A college admissions program that considers high school juniors with enough credits (and remarkable academic and non-academic background) for admission (a year earlier than is typical).

Early Decision

A college admissions program that consists of earlier deadlines and notification dates than the regular admissions process, and that requires a binding commitment of the student if admission is offered. The student applying under this program should apply to only one school. The student will not know what financial aid will be awarded prior to committing.

ED

US Department of Education. Government agency that administers several federal student financial aid programs, including the Federal Pell Grant, the Federal Work-Study Program, the Federal Perkins Loan, the FFELP, and the FDLP.

Education IRA

An education IRA is a tax-deferred savings and investment account for educational expenses. Parents are allowed to put away $500 a year for each child or grandchild under the age of 18. Like the Roth IRA, contributions aren't tax-deductible, but withdrawals are tax-free. The money must be used for college or graduate school tuition, room, board, or books, by the time the student turn 30. At that point, the funds will be distributed to the beneficiary and will be subject to a 10% penalty and income taxes. Before then, however, the funds can be transferred to a new Education IRA for another family member.

EFC

Expected Family Contribution. Amount a family is expected to contribute to a student's education, based on family earnings, net assets, savings, size of family and number of students in college.

Eligible Institution

A public or private nonprofit institution of higher education, a postsecondary vocational school, or a proprietary institution of higher education that meets all the criteria to participate in Title IV student financial aid programs.

Eligible Non-citizen

Someone who is not a US citizen but is nevertheless eligible for Federal student aid. Eligible non-citizens include US permanent residents who are holders of valid green cards, US nationals, holders of form I-94 who have been granted refugee or asylum status, and certain other non-citizens. Non-citizens who hold student visas or exchange visitor visas are not eligible for Federal student aid.

Eligible Program

A course of study that requires a certain minimum number of hours of instruction and period of time and that leads to a degree or certificate at a school participating in one or more of the federal student financial aid programs described in this handbook. Generally, to get student aid, a student must be enrolled in an eligible program.

Eligible Student

The definition of a student eligible to receive federal financial aid from ED is discussed in detail in The 1995-96 Federal Student Financial Aid Handbook, Chapter 2, and Section 668.7 of the Student Assistance General Provisions regulations.

Enrollment Period

For the Federal Family Education Loan (FFEL) and Federal Direct Loan Programs, the period for which a borrower's loan is intended and during which a student is enrolled. For a school that uses academic terms (semester, trimester, or quarter) an enrollment period must coincide with the one or more terms or with an academic year. For a school that does not use academic terms, an enrollment period must coincide with the length of a student's program of study or an academic year.

Enrollment Status


At those institutions using semesters, trimesters, quarters, or other academic terms and measuring progress in credit hours, enrollment status equals a student's credit-hour course load. At these schools, a full-time undergraduate student enrolls in at least 12 semester hours or 12 quarter hours each term. At those institutions measuring progress in clock hours, enrollment status equals a student's clock-hour course load. At these schools, a full-time student receives 24 hours of instruction in one week. At either type of school, student enrollment may be categorized as full-time, three-quarter-time, half-time, or less-than-half-time. At those institutions using a combination of both credit and clock hours, enrollment status for a full-time student is any combination of credit and clock hours where the sum of the following fractions is equal to or greater than one. - For a program using a semester, trimester, or quarter system: Number of credit hours per term.
----------------------------------
12
PLUS
Number of clock hours per week
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24
For a program not using a semester, trimester, or quarter system:
Number of semester or trimester hours
per academic year
-------------------------------------------
24
PLUS
Number of quarter hours per academic year
---------------------------------------------
36
PLUS
Number of clock hours per week
----------------------------------
24
At non-term institutions, enrollment status for a full-time student is
24 semester hours or 36 quarter hours per academic year or the
prorated equivalent for a program of less than one academic year.

Entrance Counseling (for a student borrower)

Each institution participating in the Federal Perkins, FFEL, and Federal Direct Loan Programs (excluding PLUS and Direct PLUS loans) must offer loan counseling to first-time student borrowers called "entrance" counseling. The institution must offer this counseling before the delivery of the first disbursement of any of these loans to a borrower at the institution. Entrance counseling covers the borrower's rights and responsibilities, the terms and conditions of the loan, and the consequences of default.

Exit Counseling (for a student borrower)

Each institution participating in the Federal Perkins, FFEL, and Federal Direct Loan Programs (excluding PLUS and Direct PLUS loans) must offer loan counseling called "exit " counseling to student borrowers. For Federal Perkins borrowers, the interview must take place before the borrower leaves school. In the case of FFEL and Federal Direct Loan student borrowers, the interview must take place shortly before the borrower ceases at least half-time enrollment. During the interview, the borrower's rights and responsibilities are reviewed, details about handling loan repayment are discussed, and the average indebtedness of the school's borrowers must be disclosed. Borrowers are also required to provide updated personal information such as address, telephone number, employer (if known), and driver's license and state of issuance. See The Federal Student Financial Aid Handbook, Chapter 5, for complete information on loan counseling requirements. Compare ENTRANCE COUNSELING (FOR A STUDENT BORROWER).

Expected Family Contribution (EFC)

The figure that indicates how much of a family's financial resources should be available to help pay a student's postsecondary education expenses. This figure, determined according to a statutory defined method known as Need Analysis, is used for all students in determining eligibility for most federal Title IV student financial aid.

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Last Reviewed: December 2019