Glossary
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| Term | Definition |
|---|---|
| 403(k) plan |
Defined contribution plan designed for eligible employees of not-for-profit institutions, such as colleges, hospitals, and religious organizations. |
| AA |
Associate of Arts degree |
| AAS |
Associate of Applied Science degree |
| Academic Year (AY) |
The student's enrollment period for which financial assistance/aid is awarded. The federal definition of academic year is July 1 through June 30. |
| Accrued Interest |
Interest that builds gradually on the loan. Each day, interest is calculated on the unpaid principal balance and becomes accrued interest. |
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