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Endowment
Endowment is permanent funds that colleges and universities invest in order to receive income for operating expenses. There are schools with the endowment of billions of dollars. Because income from endowments is often used to provide financial aid, schools with bigger endowments are often more generous with financial aid than schools with smaller endowments.
Enrollment Status
It is a measurement of how many credit hours per semester a student is enrolled in, generally divided into full-time, half-time, and part-time students. Such students whose credit hours fall below half-time status usually are ineligible for financial aid. There are financial aid sources, which require that recipients maintain full-time status.
Entitlement
Unlike many scholarships and fellowships, an entitlement program is a financial aid program that is non-competitive. Any student who meets the qualifications gets the aid. Pell Grants and Federal student loans are only some example of an entitlement.
Entrance Interview
Anyone receiving their first federally guaranteed student loan is required entrance interviews by federal government. This interview is organized to inform the borrower of their rights and responsibilities, and the principles of financial planning and debt management.
Equity
The difference between what something is worth, and what’s owed on it.
Exit Interview
Exit Interview is very similar to an Entrance Interview. It occurs when a student leaves college. During it, the student meets with the college’s financial aid office, and is reminded of their loan obligations and the necessity of good financial planning and debt management.
Expanded Lending Option (ELO)
ELO is a program where some schools can offer higher loan amounts on Perkins loans than normally allowed. They are only available at schools with low rates of student defaults on Perkins loans.
Expected Family Contribution (EFC)
The Expected Family Contribution is the amount the federal government expects a college student, and their parent(s), to contribute toward paying for a college education.
This amount is figured with the help of a standard formula, and it’s based on several factors-dependency status, family income, family assets, the size of the family, the age of the parent(s), etc. The Expected Family Contribution appears in the top front page of the Student Aid Report.
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