Student Affairs

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e-statement
This electronic document reflects all financial activity and balance due (if any) and is sent
to students via iROAR the first business day of the month.
eCheck
An electronic check (eCheck) is a direct debit to a checking account. When making an
eCheck payment, you must provide your routing number and account number. There is no
convenience fee associated with an eCheck. This is Clemson’s preferred payment method.
e-refund
This is an electronic refund, which allows students to receive funds in excess of tuition and
fees via direct deposits. Students can sign up for e-refunds by logging into their student bill
ia iROAR.
Financial Aid
This is money given or loaned to help pay for college. Financial aid can come from federal
and state governments, colleges, and private and social organizations.
Free Application for Federal Student Aid (FAFSA)
The FAFSA is a free application form a student submits to apply for federal financial aid.
It is required for all students seeking federal student grants, work-study programs and loans.
Most colleges require it as well. The FAFSA may also be used to determine if your student
qualifies you for state-sponsored financial aid.
Federal School Code (also, Title IV Institution Code)
Each college, campus or program has a six-character institution code. A code related to each
of your college applications must be included when filling out a FAFSA. These codes are
available by contacting the school or checking an online listing. Clemson’s code is 003425.
Priority Date
This is the date by which your application, whether it’s for college admission, student housing
or financial aid, must be received to be given the strongest consideration. Since financial aid
is often limited, meeting the priority date is important to be eligible to receive funds.
Need-Based Financial Aid
This form of financial aid (grants, scholarships, loans and work-study opportunities) is
given to students in financial need, who are not able to pay the full cost of attending a
certain college.
Expected Family Contribution (EFC)
EFC is a measure of the student and their family’s financial strength. States and colleges
use this number to help determine the financial aid award. The EFC is calculated according
to a formula established by federal law using the financial information and circumstances
supplied in the FAFSA.
Student Aid Report (SAR)
After submitting the FAFSA, you will get a Student Aid Report (SAR) that gives you some
basic information about your EFC and eligibility for federal student aid.
Estimated Financial Assistance (EFA)
This is the estimated amount of financial aid the student may expect from federal, state,
school or other sources (including grants, loans or need-based work programs).
Scholarships
These funds are given to or earned by students and do not have to be repaid by the recipients
to assist students as they pursue their studies. Scholarships are most often given to students
for a couple of reasons: academic merit/achievement or financial need (or a combination
of both).
Merit Aid
This is financial aid given to students based on personal achievements. Most scholarships
are considered merit aid, generally awarded for success in school, the arts, athletics or
other areas.
Grant
A grant is money given to students for their education. Often based on need, grants may come
from federal or state programs, or sometimes from private charitable organizations. It does
not have to be repaid.
Work-Study
The Federal Work-Study program provides jobs for undergraduate and graduate students who
have established financial need through the submission of FAFSA.
Student Loan
A loan is money you borrow and must pay back with interest. If you decide to take out a loan,
make sure you understand who is making the loan and the terms and conditions of the loan.
Student loans can come from the federal government, from private sources such as a bank or
financial institution, or from other organizations. Loans made by the federal government,
called federal student loans, usually have more benefits than loans from banks or other
private sources.
Subsidized Loan
(Also called the Stafford Loan or Direct Subsidized Loan)
This is a federal loan based on financial need and borrowed for the purpose of attending
college or an eligible training program. The federal government pays the loan’s interest while
the student is enrolled at least half time.
Unsubsidized Loan
(Also called the Stafford Loan or Direct Unsubsidized Loan)
This is a federal loan available to students, regardless of financial need, borrowed for the
purpose of attending college or an eligible training program. The student is responsible for
paying the interest on an Unsubsidized Loan during all periods.
Parent Loan for Undergraduate Students (PLUS)
(Also called the Direct PLUS Loan)
This is a federal loan available to parents of undergraduates with good credit history. The
maximum amount you can receive is the cost of attendance (determined by the school) minus
any other financial aid received.
Master Promissory Note (MPN)
This form promises repayment and is signed by a student or parent when taking out a student
loan. An MPN is a legal document that contains the Borrower’s Rights and Responsibilities
and Terms and Conditions for repayment.
Resources:
PARENT TESTIMONIAL
“I have been so impressed by how helpful
and accommodating the different
administrative departments on campus
have been to me as a parent. Whether
it be answering a question concerning
my daughter’s tuition bill or addressing
concerns about her transitioning to
college, everyone I have dealt with has
gone out of their way to be friendly and
take time to help.”
Linda Davidson
Annandale, Va.