Glossary of Important Terms

Academic Year:

Newbury College's academic year runs from July 1 to June 30.

Citizen/Eligible Non-Citizen:

You must be one of the following to receive federal student aid:

• U.S. citizen
• U.S. national (includes natives of American Samoa or Swain's Island)
• U.S. permanent resident who has an I-151, I-551, or I-551C (Alien Registration Receipt Card)

Continuing Education Students and those attending less than half time

are eligible to apply for and receive aid from the Federal Pell Grant program at Newbury College. The amount of aid a student can receive is directly related to the number of credits enrolled in for the particular term. If a student decides to withdraw from or drop a course, the reduction of credit hours will probably result in a reduction of aid.

Cost of Attendance (COA):

The total amount it will cost a student to attend Newbury College full time. The COA includes tuition and fees; on-campus room and board (or a housing and food allowance for off-campus students); and allowances for books, supplies, and transportation.

For most Continuing Education students and those attending less than half time (less than six credits), the COA includes tuition and fees and an allowance for books, supplies, transportation, and dependent care expenses.

The average 2004-2005 Newbury College full time day student expense budget used for financial aid purposes includes:

• tuition $15,500
• required fees $900
• average room and board $8,750
• books and supplies $775
• personal expenses $1,000
• transportation $565

Financial Need

To determine need, first, calculate the cost of attendance (COA). For the 2004-2005 year the COA for a full time Newbury College resident day student is $28,240. Second, subtract the Estimated Family Contribution (EFC). The amount remaining is the student's financial need:

COA - EFC = need

Promissory Note

The binding legal document you sign when you get a student loan. It lists the conditions under which you're borrowing and the terms under which you agree to repay the loan. It will include information about your interest rate and about deferment and cancellation provisions. It is very important to read and save this document because you'll need to refer to it later when you begin repaying your loan.

Satisfactory Academic Progress:

To be eligible to receive federal student aid, you must maintain satisfactory academic progress toward a degree or certificate.

Selective Service Registration:

To receive financial aid, all males who were born on or after January 1, 1960, are U.S. citizens or eligible non-citizens and are at least eighteen years of age must register with the Selective Service System at http://www.sss.gov/.