GLOSSARY (continued) PLUS Loans — These are not need-based. They are low-interest loans, made to the parents. The college financial aid office or the state guarantee agency can help you find a lender. You must fill out the FAFSA to be eligible and must go through a credit check. Students whose parents are denied a PLUS loan have additional federal borrowing eligibility. Prior Prior — A recent change in the filing process for the FAFSA that allows families to report income information from an earlier tax year to complete the forms. Stafford Loans — Low interest Federal loans made by a college, bank, credit union, or similar institution. Amounts are set by the Government. The college financial aid office or the state guarantee agency can help you find a lender. SAR (Student Aid Report) — A student will receive the SAR from the processing center roughly 4 weeks after submitting the FAFSA. The SAR contains all the information the student provides on the FAFSA. The SAR gives the student an opportunity to correct any information, to present any special or extenuating circumstances, or to have the information sent to up to 10 additional colleges. Supplemental Educational Opportunity Grants (SEOG) — Grants that the government disperses through the colleges to supplement the aid package. Work Study (FWSP) — A part-time job partially funded by the government and administered by the college. FWSP is awarded on the basis of need and federal aid eligibility and factored into the aid package.
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