Financial Aid Glossary of Terms

This is the sum of your estimated “direct costs” and “indirect costs.” It is an estimate of what it might cost a typical student to attend BGSU full time for fall and spring semesters.

It represents the highest dollar amount of financial aid a student can receive during an award year and should be used for budgeting purposes only.

Cost of attendance details

Direct costs are payable to the school. They generally include tuition, fees, on-campus housing, meals/food or any other expenses paid to BGSU.

Federal and state financial aid are based on your enrollment status. A student’s enrollment status is determined by the number of credits they are enrolled in. Full-time enrollment is defined as 12 credit hours or more for undergraduate students and 8 hours or more for graduate students.

Any loan that is applied to cover educational expenses is considered an educational loan. This includes loans from the federal government and private loan sources. Educational loans must be repaid. Learn more about the types of loans, their terms and repayment options.

These loans are borrowed from the federal government to cover educational expenses and must be repaid.

A full listing of terms and conditions, along with additional acceptance documents (i.e., master promissory note and loan entrance counseling), can be found on studentaid.gov.

Types of direct loans

• Federal direct subsidized student loan
• Federal direct unsubsidized student loan
• Federal direct Parent PLUS loan

Federal direct loan details

This program provides undergraduate students with funding through part-time employment on campus. It is paid directly to students as they earn funds by working. Students must file the FAFSA annually and apply for jobs through the online Student Employment Portal.

This information outlines the amounts and details of the financial aid being offered to you to help pay for college, including scholarships, grants, loans, employment and other forms of financial assistance.

This is financial aid that does not have to be repaid or earned. Gift aid may be awarded to you based on merit or financial need and includes grants and scholarships.

Also referred to as gift aid, grants may be awarded based on merit or financial need. Visit Types of Aid for more information on:

• Federal Pell Grant
• Federal Supplemental Educational Opportunity Grant (FSEOG)
• Ohio College Opportunity Grant

These educational expenses aren’t paid directly to BGSU. Indirect costs are estimated by the University and will differ from student to student based on their individual circumstances. Examples of indirect costs include books, supplies, off-campus housing and food, transportation and personal expenses.

This is the cost of attendance (COA) minus the Student Aid Index (SAI).

This kind of aid is determined by the data provided on the FAFSA. It is the amount of financial assistance provided to a student based on their financial situation. This type of aid can include:

• Grants and scholarships (gift aid that does not have to be repaid)
• Low-interest loans like a federal direct subsidized loan (loans must be repaid)
• Federal work-study

This number reflects what the student may expect to pay for their education on their own. It is the difference between the cost of attendance and all grants and scholarships.  

Students and their families may pursue alternative funding options outside of grants and scholarships. These other funding options include:

• Parent PLUS loans,
• Federal loans
• Student employment
• Institutional payment plans
• Personal savings

Scholarships are also referred to as gift aid and do not have to be repaid. They may be awarded based on merit, community service or financial need. Scholarships are automatically awarded through your admission application if you qualify. You can also qualify for additional scholarships by submitting the BGSU general scholarship application (available Oct. 1 for the new school year) each year. 

Due to the high volume of applications received, only those selected for a scholarship will see their award(s) listed on their financial aid offer.

Students receiving a non-BGSU or outside scholarship should follow the official process to send their checks and award letters to BGSU.

Scholarship details

Self-help aid includes aid in which a student must take action to receive the funds. For example, to borrow loans, you are required to accept terms and conditions before payment and must repay after graduation. Self-help aid also includes aid that is earned through student employment.

There may be a special financial or unique family circumstance that the data on the FAFSA does not accurately represent. Students and their contributors may request to have their circumstances reviewed further.

Contact a financial aid advisor to discuss your situation and to see if an appeal will benefit you.

The SAI is the eligibility index that determines a student’s eligibility for federal aid and in some instances, state and institutional need-based financial aid. The SAI is based on the information provided by the student and their family on the FAFSA.

Verification is a federally mandated process that confirms the accuracy of the data provided by students and their families on the FAFSA. BGSU will review the documentation provided by the student and if it does not match what was reported on the FAFSA, verification could result in changes to the student’s financial aid eligibility and their financial aid offer. Documents needed to complete this process will be listed on the students To Do List in their MyBGSU.