Help - Glossary
The following glossary listing contains definitions/descriptions of terms that are related to Federal student aid Title IV programs and/or acronyms..
The terms are listed according to alphabetical order. You can select the All link to view a listing of all of the glossary terms, or you may select the letter equal to the first letter of the term.
Glossary
EDCAPS
The acronym for the Education Department Central Automated Processing System. EDCAPS is a centralized financial management system designed to integrate the Department's separate financial processes including financial management, contracts and purchasing, grants administration, and payment management.ED Pubs
ED center online for ordering information products. All publications are provided at no cost to the general public by the U.S. Department of Education. See the Schools Portal (http://fsa4schools.ed.gov) and click on Publications and How to Order.EDExpress
A PC-based software package provided by ED for schools to use in managing and administering federal student financial aid information.EDExpress Verification Worksheets
A Web-based tool available through FAA Access online to compare ISIR data with data an applicant provides on verification documents, such as a Verification Worksheet. It displays the differences between the ISIR and the verification document. The FAA can tell if the differences are within the verification tolerance level. Available for download at http://fsadownload.ed.gov.EDE Technical Reference
A document focusing on the technical requirements of the EDExpress software and the EDConnect software (used for sending and receiving electronic files) for programmers and data processing staff. It includes record layouts, required edits, print assistance, and reject messages applicable to the electronic Free Application for Financial Student Aid (FAFSA), Institutional Student Information Record (ISIR), electronic corrections and signature records. Located at http://fsadownload.ed.gov.Education IRA
See Coverdale Savings Account.Electronic Access Conference (EAC)
Held by ED, these annual conferences help financial aid and business officers keep their FSA skills current.Electronic Data Exchange (EDE)
Process for institutions (and other participating destination points, such as third-party servicers) to electronically transmit, receive, and correct application data, package student awards, and transmit Federal Pell Grant and Direct Loan payment information through the Student Aid Internet Gateway (SAIG).Electronic Data Processing (EDP)
System An electronic system used to process FSA disbursement and accounting data, including electronic transmission and storage.Electronic Data Processing Controls
Internal controls that ensure the integrity and reliability of data. They encompass operating procedures, software security, data access, program modification, segregating computer security duties and responsibilities, backup and recovery plans, and physical computer security.Electronic Funds Transfer (EFT)
Transfer of funds initiated through electronic means, such as data transmission by computer rather than a paper-based transaction, such as a check.Electronic Master Promissory Note (eMPN)
A Webbased Master Promissory Note. A student can complete and sign an MPN electronically instead of using a paper MPN. Users must have a PIN to initiate the process. Also see Master Promissory Note.Electronic Statement of Account (ESOA)
The ESOA details a schools funding levels in the FSA programs.Eligibility and Certification Approval Report (ECAR)
Summary of a schools eligibility information, including the FSA programs in which the school is eligible to participate. Also includes information about the school’s accreditor, state authorization, staff, additional locations, and eligible vocational programs.Eligible Applicant/Student
An eligible applicant is a student who has submitted a Free Application for Federal Student Aid (FAFSA) and who meets the eligibility requirements of the FSA programs. The student must be currently enrolled or be a prospective student at a postsecondary school eligible to participate in the FSA programs.Eligible Borrower
A borrower or potential borrower who meets federal eligibility criteria for a Federal Stafford loan or, in the case of a parent borrower, a Federal PLUS loan.Eligible Institution
An institution of higher education, a postsecondary vocational school, or a proprietary institution of higher education that meets all the eligibility requirements for participation in the FSA programs.Eligible Program
An educational program that meets federal regulatory requirements for participating in the FSA programs. (See The Federal Student Aid Handbook, Volume 2 - School Eligibility and Operations.)Emergency Action
An action for cause taken by ED against an eligible postsecondary institution. This action includes withholding funds from the institution or its students and withdrawing the authority of the institution to obligate federal funds under any or all of the FSA programs.Employer Identification Number (EIN)
The IRS issues EINs to businesses for tax filing purposes. The EIN preceded by the letters "ED" is the password for accessing the Electronic Application that schools use to apply for and in which they update institutional eligibility information.Endorser
An individual who signs a promissory note and agrees to repay the loan in the event that the borrower does not.Enrolled
Any student who has completed the registration requirements (except for the payment of tuition and fees) at the institution that he or she is attending. Also a student who has been admitted into an educational program offered predominately by correspondence and who has submitted one lesson, completed by him or her and without the help of an institutional representative.Enrollment Date
The first date that the student was enrolled in an eligible program for the designated award year.Enrollment Reporting
A process, required by law, by which schools confirm and report the enrollment status of students receiving FSA program assistance. Schools report the enrollment information to the National Student Loan Data System (NSLDS) and, in turn, NSLDS merges the reported enrollment information and reports the information to guarantors, lenders, and servicers of student loans. The Enrollment Reporting process was formerly known as Student Status Confirmation Report.Enrollment Status
An indication of a student's current status at the postsecondary institution. Status types include full-time, half-time, less than half-time, leave of absence, graduated, withdrawn, deceased, never attended, or no record found.Entitlement
Entitlement programs award funds to all qualified applicants. The Pell Grant is an example of such a program.Entity Identifier
On the Common Record, a unique Common School Identifier for each data exchange partner (e.g., school, third-party servicer, vendor, etc.). When performing entity searches via the COD Web site, the Entity ID is the school's Common School Identifier, Pell ID, Direct Loan ID or OPE ID.Entrance Counseling
First-year, first-time students borrowing federal educational loans are required to receive counseling before they receive their first loan disbursement, during which the borrower's rights and responsibilities and loan terms and conditions are reviewed.Entrance Interview (for a compliance audit)
A meeting, before the beginning of a financial aid audit, between the auditors, a school's senior management, and the school administrators who will be involved in the audit. Operating rules, an agenda, and a schedule for the on-site work are established. A similar interview is conducted by a federal official before conducting a program review. This meeting is sometimes called initial counseling.Escheat
When funds revert to a third party after not being claimed/used by the intended recipient. Title IV funds may never escheat to a school, state, or any third party.Estimated Financial Assistance (EFA)
The school's estimate of the amount of financial assistance that a student has been or will be awarded for the enrollment period for which a loan is sought. The EFA includes assistance from federal, state, institutional, scholarship, grant, financial need-based employment, or other sources.Excess Cash
Any amount of FSA program funds (other than FFEL Program or Federal Perkins Loan Program funds) that a school has not disbursed to students or parents by the end of the third business day following the date the school received the funds. There are penalties for holding excess cash.Excess Liquid Capital (in Perkins)
A school has excess liquid capital in its Federal Perkins Loan Fund if funds available (cash on hand, plus Federal Capital Contribution [FCC] and Institutional Capital Contribution [ICC], plus interest income and cancellation repayments) for the current award year significantly exceed the award year's total expenditures from the Fund.Exit Counseling (for a student borrower)
Institutions participating in the Federal Perkins Loan, FFEL, and Direct Loan Programs (excluding FFEL PLUS Loans and Direct PLUS Loans) must offer loan counseling called exit counseling to borrowers. For Federal Perkins Loan borrowers, the interview must take place before the borrower leaves school. In the case of FFEL and Direct Loan student borrowers, the interview must take place shortly before the borrower ceases to be enrolled at least half time.Exit Interview (for a compliance audit)
A meeting, following the completion of a financial aid audit between the auditors, a school's senior management, and the school administrators who were involved in the audit. General audit findings and conclusions that will be included in the audit report are discussed. A similar interview is conducted by a federal official after conducting a program review.Expected Family Contribution (EFC)
A calculated amount, based on a formula established by Congress, of how much the student's family can be expected to contribute toward the cost of the student's education in an award year. The EFC is calculated when the CPS successfully processes a student's FAFSA information and is one component schools use to determine the amount and type of aid the student can receive.Expenditure
Funds drawn and dispersed. The Department records drawdowns as expenses. See also disbursements.Extended Processing
The Direct Loan Program provides relief due to extenuating circumstances. A school may request extended processing if it is unable to meet the processing deadline (also known as Closeout Deadline). The Department of Education grants extended processing due to either an event, such as a natural disaster, or a processing error. The Federal Pell Grant Program also provides grant relief for extenuating circumstances. See also Administrative Relief.External Access System
The system that payees use to access GAPS to make payment requests and report expenditures.
