Glossary of Financial Aid Terms

Academic Progress: A measure of how well a student is doing by looking at their grades and whether they are on track to complete their degree in four years.

Board Fees: The costs for food while living on campus.

Direct Costs: Charges included in the Cost of Attendance that the student/family pays directly to the College. This includes tuition, fees, and on campus room & board charges.

Enrollment Deposit: The money asked of you as a commitment to joining the next College class. It holds your spot for registering for courses.

Enrollment Verification: Process that confirms a student has actively participated in all of the courses they are registered in before funds are disbursed to their student account.

Entrance Counseling: A federal program to make sure you know important details about borrowing money. It is required of all students before they are able to pay tuition with loans.

Federal Direct Unsubsidized Loan: Unsubsidized loans are a way of borrowing with interest due during the entire loan period. Students can pay that interest while they are in school or upon entering repayment.

Federal Work-Study Employment: A federal program of paid part-time jobs for students to help cover the miscellaneous costs of attending college. These jobs are often working for Champlain College.

Free Application for Federal Student Aid (FAFSA): A form completed by current and prospective college students to determine eligibility for Federal Direct Unsubsidized Loans.

Indirect Costs: Estimated expenses in the Cost of Attendance that are not paid directly to the institution. This includes books, personal expenses, transportation, loan fees, and off-campus or with-parent room & board charges.

Loan Default Rate: The percentage of students who take out certain federal loans for college costs but are unable to repay the loan.

Payment Plans: A way of paying annual tuition that breaks your costs into equal payments. Champlain College offers payment plans of 8–10 monthly payments.

Placement Rate: The measure of success among a graduating class in being employed or enrolled in graduate school within six months after graduation.

Private Education Lenders: Banks and other lending organizations that let students borrow money, which are not government or College-sponsored funds, to pay for college.

Room Fees: The costs for living on campus.