Adjusted gross income (AGI)
This figure is your total gross income for the year minus certain deductions, such as student loan interest, contributions to retirement accounts and tuition and fees. It is used to determine your taxable income and your eligibility for tax credits and deductions.
Automated Clearinghouse (ACH)
ACH is an electronic network that is used for financial transactions such as direct deposits, bill payments and money transfers between banks. ACH transactions are typically used to streamline payments.
Contributor(s)
A contributor is anyone — you, your spouse, your parent and/or your parent’s spouse — who is required to provide information on the FAFSA. Contributors must also sign the FAFSA and provide consent using their FSA ID to have their federal tax information transferred directly from the IRS into the FAFSA via the Direct Data Exchange (DDX) process established by the FUTURE Act.
Cost of Attendance (COA)
The COA is an estimate of a student’s total education expenses for an enrollment period that typically includes an allowance for:- Direct costs - tuition and fees, on-campus housing and meal plan;
- Indirect costs - books, supplies, equipment, transportation, miscellaneous personal expenses, off-campus housing and food; and
- Loan origination fees (if borrowing from the Federal Direct Student Loan program).
The Cost of Attendance is not an invoice or contract. Rates, associated fees, and costs may change each academic year.
Looking for information about ר’s Cost of Attendance? Find more here.
CSS Profile
This is an online tool administered by the College Board that colleges and universities use to assess a student’s financial need for institutional grants and scholarships.
Dependent student
A dependent student is one who does NOT meet any of the following criteria:- At least 24 years old by Dec. 31 of the school year
- A graduate or professional student
- Married
- Has legal dependents other than a spouse
- A veteran of the U.S. Armed Forces
- An orphan or ward of the court
- Parents are both deceased since turning 13
- In foster care since turning 13
- Is or was an emancipated minor
- Is or was in a legal guardianship as determined by a court in their state of legal residence
- Is homeless or at risk of being homeless.
FAFSA Submission Summary (FSS)
Previously known as the Student Aid Report (SAR), the FSS is a document that summarizes the information reported on the FAFSA. It includes:- A summary of your responses and school selection(s)
- A student’s estimated eligibility for federal student loans and Pell Grant
- Whether the application was selected for verification
- The Student Aid Index (SAI)
- The date the application was received and processed
- A four-digit Data Release Number
The FSS will not include tax information transferred from the IRS using the Direct Data Exchange (DDX) process established by the FUTURE Act.
Grants
Grants often are referred to as “gift aid” because they do not require repayment. Grants often are need-based but they also may be merit-based. Some grants require students to maintain a minimum GPA or take specific courses.- For federal grants, eligibility is determined by the Free Application for Federal Student Aid (FAFSA).
- With the exception of the Federal Teacher Education Assistance for College and Higher Education (TEACH) Grant, these programs are available to undergraduate students only.
- Federal Pell Grant eligibility is based on the parent's adjusted gross income if dependent or the student's adjusted gross income if independent, family size, and the poverty guidelines for the required FAFSA tax year (2023 guidelines are used for the 2025-2026 year). If determined to be eligible by the FAFSA, the Pell Grant amount may be affected by the Student Aid Index (SAI) calculation.
- The Federal Supplemental Educational Opportunity Grant (FSEOG) is offered to the neediest students as determined by the results of the FAFSA.
- For state grants, eligibility is determined by the total income calculated on the Free Application for Federal Student Aid (FAFSA).
- State grants are available to undergraduate students. Funds may also be offered to Graduate or Professional students depending on availability.
- Texas residency status must be documented.
- Tuition Equalization Grant (TEG) recipients must be enrolled full-time and maintain a 2.5 GPA for continued eligibility, although there are certain hardship provisions. Offers are subject to availability of funds.
Independent student
An independent student is one who meets at least one of the following criteria:- At least 24 years old by Dec. 31 of the school year
- A graduate or professional student
- Married
- Has legal dependents — other than a spouse — who receive more than half of their support from the student
- A veteran of the U.S. Armed Forces
- An orphan or ward of the court
- Parents are both deceased since turning 13
- Been in foster care since turning 13
- Is or was an emancipated minor
- Is or was in legal guardianship as determined by a court in their state of legal residence
- Is homeless or at risk of being homeless
Loans
A loan is money you borrow and must pay back with interest. If you apply for financial aid, you may be offered loans as part of your financial aid offer. When you receive a student loan, you are borrowing money to attend college. You must repay the loan as well as interest that accrues. Loans are available through the Department of Education (ED) and private or alternative lenders.
Loan default
A federal student loan enters default when a payment is 270 days delinquent or when the borrower fails to meet other terms of the promissory note. If your loan goes into default, consequences may include:- The entire unpaid balance of your loan and any interest you owe becomes immediately due (this is called acceleration).
- You can no longer receive deferment or forbearance, and you lose eligibility for other benefits, such as the ability to choose a repayment plan.
- You lose eligibility for additional federal student aid.
- The default is reported to credit bureaus, damaging your credit rating and affecting your ability to buy a car or house or to get a credit card.
- It may take years to reestablish a good credit record.
- You may not be able to purchase or sell assets such as real estate.
- Your tax refunds and federal benefit payments may be withheld and applied toward repayment of your defaulted loan (this is called treasury offset).
- Your wages may be garnished. This means your employer may be required to withhold a portion of your pay and send it to your loan holder to repay your defaulted loan.
- Your loan holder can take you to court.
- You may be charged court costs, collection fees, attorney’s fees and other costs associated with the collection process.
Loan origination fees
Loan fees are charged by the loan lender (not ר) to originate a student loan and are calculated as a percentage of the total loan amount. The loan fees are deducted proportionately from each loan disbursement. The loan fee is subtracted by the lender directly from the loan before it is disbursed. This means you will receive a smaller loan than the total amount that you actually borrowed, but you still will be responsible for repaying the entire amount borrowed.
Master Promissory Note (MPN)
The MPN is a legal document that provides terms and conditions of your loan, including the borrower’s promise to repay the loan and any accrued interest and fees.
National Student Loan Data System (NSLDS)
The NSLDS is a database of federal student loan and grant information maintained by the U.S. Department of Education. It provides a centralized view of student aid information, including loan amounts, enrollment status, outstanding balances, loan status, disbursements and grant information. It does not include information about private loans. For borrowers, NSLDS has been integrated into the platform. To view your loan history, you will log in using your FSA ID.
Satisfactory Academic Progress (SAP)
Students must meet and maintain a standardized level of academic performance; failure to do so will result in the loss of eligibility to receive federal aid. ר monitors SAP through a qualitative measurement (GPA) and through a quantitative measurement (the percentage of attempted hours that are completed, referred to as PACE). In addition, SAP rules place limits on the number of terms students may receive federal aid.
ר institutional aid
Eligibility for institutional aid programs is determined annually, based on documented financial need using the Free Application for Federal Student Aid (FAFSA) and CSS Profile. Aid offers are subject to availability of funds. ר policy limits gift aid — such as ר-funded scholarships, grants and tuition benefits — to the total cost of tuition and fees.
ר scholarships
These forms of aid are based on a student’s status during the admission process. Recipients must maintain full-time enrollment and meet cumulative grade-point average requirements.- Undergraduate scholarships are available for eight semesters (five semesters for transfer students) or until graduation, whichever occurs first.
- Graduate/professional scholarship eligibility is based on the requirements set by the academic departments at the time of awarding.
- ר policy limits gift aid — such as ר-funded scholarships, grants and tuition benefits — to the total cost of tuition and fees.
Special circumstances
If you or your family are expecting extreme changes to your personal life or financial situation, we may be able to adjust your financial information to reflect your current situation more accurately. Please review the examples below and contact the ר Mane Desk at 214-768-5555 or manedesk@smu.edu if one or more of the following applies:- Reduction of income
- Loss of employment
- Loss of benefits
- Separation or divorce
- Death
- Birth of a child
Student Aid Index (SAI)
The SAI is a figure determined by information provided in the Free Application for Federal Student Aid (FAFSA). It is used to determine need for purposes of offering federal and state financial aid.
Student employment
Students are eligible to work on campus in various positions, such as office clerks, library clerks, dining hall and coffee shop help, research assistants for faculty members, website designers, intramural referees, graders, lifeguards and more. You can find a current list of on-campus jobs, internships, and post-graduation career opportunities on .In addition to regular student employment, students with financial need as determined by the Free Application for Federal Student Aid (FAFSA) may qualify for Federal or State Work Study programs. Eligibility for a work-study program does not guarantee employment; students are responsible for finding and applying for a job.
U.S. Department of Education (ED)
The U.S. Department of Education oversees , managing the FAFSA and offering grants, work study and loans to help students pay for college.
Unusual circumstances
If you are unable to provide parental information on your Free Application for Federal Student Aid (FAFSA), you may be experiencing unusual circumstances. Please review the examples below and contact the ר Mane Desk at 214-768-5555 or email manedesk@smu.edu if one or more circumstances applies:- You’re unable to contact your parents
- Parental abandonment or estrangement
- Parental incarceration
Unusual circumstances do not include:
- Parents refusing to contribute to your education
- Parents refusing to provide information for the FAFSA
- Parents do not claim you as a dependent for income tax purposes
- You demonstrate total self-sufficiency