Financial Aid Glossary
A Temple education is an investment—possibly the largest of your lifetime. Deciding how to pay for it is an important choice. Familiarize yourself with the following terms and understand your options for student aid at the School of Media and Communication (SMC).
Loans are made to individuals by government agencies and private lenders for education costs to be repaid, usually with interest, after the program has been completed.
Some aid to students does not have to be repaid at any time. Gift aid includes scholarships, awarded to students based on merit, and grants, awarded based on financial need.
Award letters are official documents that are issued by Student Financial Services and list the financial aid awarded to students.
Cost of Attendance
The cost of attendance includes tuition, fees and living expenses while attending school. It is determined by the school, using guidelines established by federal regulations.
The formulas used to determine a student’s eligibility for federal Title IV funds. The formulas take into account income, expenses, family size, some assets and other factors. It is written by Congress.
This federal aid application must be completed by all students who wish to be considered for financial aid at Temple University.