Jul 23, 2024  
2015-2016 Archived Catalog 
2015-2016 Archived Catalog

Glossary of College and Financial Aid Terms


Academic Probation: A status imposed on a student because of poor grades (less than 2.0 GPA) or improper conduct. Usually the cause for probation must be corrected in a specified period of time.

Academic/Registration Calendar: A set of dates established and published by the college indicating when classes are held, holidays, recesses, due dates, etc. MCC has a fall and winter semester of 15 weeks each, and a spring session and summer session of 7 1/2 weeks each.

Academic Year: The school year typically beginning with Summer semester and ending with the Spring semester.

Accreditation: Recognition by a state, regional, or national organization that the college or one of its programs is approved. The North Central Association and the National League for Nursing are examples.

Admission: The process a student takes to apply to college. Students interested in applying for MCC may contact the Admissions Office to complete the admissions process at (810) 762-0315.

Advisor: A member of the college faculty appointed to help students with their educational planning and registration.

Articulation (High School): Credit may be granted when a written agreement assures that the content of the high school course and the student outcomes and competencies, as certified by high school teachers, are similar to those of the community college.

Atriculation (College and University) Agreements with colleges and universities that specify a course taking plan, that when followed by a student at MCC, results in a seamless transfer of credits for the student to their program of study at the university.

Assessment: A process designed to identify a student’s level of competence or preparation to do college work.

Associate’s Degree: The degree given for completing a program of at least 62 credits but less than 124 credits of college study. MCC grants four different Associate’s Degrees - Associate of Arts, Associate of Science, Associate of Applied Science and Associate of General Studies.

Audit: Registering in a credit class and attending regularly but not taking examinations. No credits are earned and the student receives an “N” grade. Tuition is the same as for taking the class for credit. Audit classes are not eligible for financial aid.

Award Letter: A document from Student Financial Services that indicates the type and amount of financial aid awarded to a student per semester in an academic year

Bachelor’s Degree: The degree granted for completing a program requiring at least 124 credits of undergraduate study. Also called Baccalaureate degree. Mott Community College provides the first 2 years of most bachelor’s degree programs.

Bankruptcy: A person is declared bankrupt, when found to be legally insolvent and the person’s property is distributed among creditors or otherwise administered to satisfy the interests of creditors. Generally, federal student loans cannot be discharged through bankruptcy.

Blackboard: A Learning Management System (LMS) designed to deliver course materails to students through a computer. Faculty have the option of posting course materials in Blackboard for their classes for students to access. Blackboard is used in both campus and e-Learning courses.

Board of Trustees: Seven people elected by the voters in the college district who serve as the governing body of the college.

Borrower: The person who applies for a loan and receives proceeds (or money) of the loan.

Capitalization: Addition of unpaid interest to the principal balance of a loan which increases the total outstanding balance due. See also Interest Capitalization.

Catalog: The official college publication identifying policies, procedures, programs, courses, faculty, admissions, etc.

Certificate of Achievement: An award conferred for completing a program of study that is generally about 30-40 credits.

Change of Program: A procedure whereby a student officially changes his/her declared program of study.

Claim: An application made to a guarantor for payment of an insured loan for loss of payment due to borrower death, total and permanent disability, bankruptcy, default, or school closure.

Class load: The number of credits a student has registered for in a single semester or session.
Fall and Winter* Full time enrollment is 12 credit hours or more. Three-quarter time enrollment is between 9-11 credit hours. Half-time enrollment is between 6-8 credit hours. Less than half-time enrollment is 1-5 credit hours.
Spring and Summer* Full time enrollment is 6 credit hours or more. Half-time enrollment is 3 credit hours. *For any semester, student must be enrolled and attending at least 6 credits in order to qualify for loan. Pell Grant pays based on credit hours, not a full or part time status.

Class Schedule Booklet: A published list of courses offered during a semester or session.

Class Schedule Worksheet: Registration form on which a student lists the sections and times for the courses in which he or she wishes to register.

Collections: The activities and/or actions associated with getting payment for unpaid balances to the college.

Combined Billing: Lenders (or servicers) generally offer a combined bill for all of a borrower’s loans serviced by that lender/servicer so that the borrower only needs to make one payment per month for all of the loans.

Consolidation: Combining several federal (and possibly private) loans from multiple lenders into a single loan to reduce the monthly payment amount and/or increase the repayment period.

Contact Hour: The amount of course class time used to calculate tuition charges. Financial Aid does not use contact hours when determining and calculating financial aid eligibility.

Corequisite: A course that must be taken at the same time as another course.

Cosigner: A person who signs the promissory note in addition to the borrower and is responsible for the obligation if the borrower does not pay. A cosigner must be able to pass a credit review and must live in the United States.

Cost of Attendance: The total amount it costs a student to go to school. This amount is used by financial aid when determining eligibility for need-based aid. The cost of attendance or budget includes tuition & fees, books, transportation, room & board and miscellaneous expenses.

Counselor: A faculty member licensed by the State of Michigan to provide personal, career, and educational counseling. Also provides orientation, testing, advising and instruction in student development courses.

Course Fee: Fee associated with a specific class for additional costs that are incurred using specialized equipment or laboratory supplies.

Course Numbers: The letters and numbers assigned to each course for identification. For example, ENGL 101  and PSCN 171.

Credit Balance: The amount remaining in the student’s account after all on-campus charges have been paid. A credit balance is issued to the student in the form of a paper check.

Credit Hour: Credit given for a course completion toward graduation. Financial Aid eligibility is determined and calculated based on credit hours of enrollment.

Curriculum: Specific courses and academic credits leading to a certificate or degree. Also see Program of Study.

Date of Record: Specific date during a semester when credit hours enrolled are reported to the State of Michigan. Credit hours enrolled as of the date of record will be reflected on the academic transcript. See specific semester schedules to determine the Date of Record for that semester. Classes added to a student’s schedule on or after the Date of Record will not be reflected. Some types of financial aid, including Pell Grants and TIP will not pay for any classes registered on or after the date of record.

Dean’s Honors List: A list of all the students who have earned 12 credits at MCC, excluding courses with “S” grades, and who have completed at least six credits in the preceding semester with a GPA of 3.5 or above.

Default: The failure to repay a loan according to the terms of the promissory note. Default occurs at 180 days when the delinquency date is prior to 10//7/98, and 270 days when the delinquency date is on or after 10/7/98. Defaulting on a student loan makes you ineligible to receive financial aid in future until the default has been cleared.

Deferment: An approved, temporary suspension of loan payments. Student must meet certain criteria set by the federal government. For some loans the federal government pays the interest during deferment. On others, the interest accrues and is capitalized, and the borrower is responsible for paying it.

Delinquency: Failure to make monthly loan payments when due. Delinquency begins with the first missed payment.

Dependent Student: A college student who does not meet the criteria, as defined by federal law, to be considered an independent student for the purpose of receiving financial aid. A dependent student must report parental income and asset information on their FAFSA.

Dependency Override: A request for a change in dependency status of a financial aid student, based on special circumstances. The federal government does not consider a parent’s refusal to provide financial assistance or the required FAFSA information a valid reason for a student being deemed as independent. Requesting a dependency override does not guarantee approval. Students should be aware that the school is not required to perform dependency overrides, and if the financial aid administrator determines that an override is not appropriate, the decision cannot be appealed to the U.S. Department of Education.

Direct Lending (DL): The Stafford Loan lender is the federal government, through the U.S. Department of Education, rather than through banks and credit unions as with the Federal Family Educational Loan Program (FFELP).

Disbursement: Release of financial aid to the student’s school account.

Discharge: The release of a borrower from a loan obligation.

Disclosure Statement: A statement sent from the lender explaining actual costs and terms of the student loan, including interest rate and additional finance charges and anticipated disbursement dates.

Documentation: Any requested information that verifies or supports the data provided by the student on their FAFSA.

Drop: When the student withdraws from one or more courses during the semester. Students can do this by either logging into WebAdvisor or filling out a registration worksheet and turning it into Registration. A drop is during the college’s refund period, and is for either a 100% or 50% refund. Refund periods are designated in the class schedule booklets. If the student drops classes which changes enrollment status after financial aid has been paid to his/her account or paid to the student in a refund, the student will be billed for the amount received and for which the student was not eligible.

EFC (Expected Family Contribution): The dollar amount that a family is expected to pay toward a student’s educational costs as determined by the US. Dept. of Education. The federal formula is based on family earnings, assets, number of students in college and size of the family.

Early Admission: A high school student who registers for college courses based on review of a letter of recommendation from the high school principal, letter of permission from student’s parent, high school transcript with GPA of 2.5 or higher, and results of ACT Test if student has taken it.

e-Learning: A flexible learning program available to students and provides an alternative to traditional classroom course format. e-Learning courses are fully accredited college courses that follow the school calendar.

Elective: A course a student may choose which is not required for a particular program.

Enrollment Fee: A non-refundable fee charged to students for enrollment each semester.

Enrollment Status: Determined by actual credit hours of enrollment per semester. The enrollment status determines the amount of the student’s financial award, based on the following categories:

Full-time = 12 credit hours or more
Three-quarter time = 9-11 credit hours
Half-time = 6-8 credit hours
Less than half-time = 1-5 credit hours

Entrance Counseling: Required counseling to inform students of their rights, responsibilities, and borrower options under the Federal Direct Stafford Loan Program. At Mott these sessions are conducted online.

Essay test: An examination which requires the student to write answers in sentences and paragraphs.

Exit Counseling: Required counseling to inform students of their rights, responsibilities, and borrower options under the Federal Direct Stafford Loan Program. At Mott these sessions are conducted online.

Extension Centers: A location, away from the main MCC campus, where courses and some one-year and two-year programs are offered, but services such as admission, registration, or advisement are not always available.

FAFSA (Free Application for Federal Student Aid): An online application that the student (and parents of dependent students) must complete every year to apply for federal financial assistance including Stafford loans.

Federal Default Fee: The fee paid to the guaranty agency to insure the loan. This amount is deducted from the dollar amount of the loan.

Financial Aid: Money received by students to help with college costs. May include scholarships, grants, loans or work-study jobs.

Financial Aid Package: The total amount of financial aid a student is offered by the school. This information which includes grants, scholarships, work-study and loans is listed in the college’s financial aid “Award Notification” section on WebAdvisor.

First Half Classes: First Half classes meet for approximately 7 1/2 weeks. Fall and Winter First Half classes begin on the same start date as a 15 week class. First Half classes end on the 37th day.

Fixed Interest: On a fixed interest loan, the interest rate remains the same for the life of the loan.

Forbearance: Temporary cessation of regularly scheduled payments or temporarily permitting smaller payments than were originally scheduled.

Fresh Start: An official procedure for waiving course grades for MCC courses that are more than 5 years old. Fresh Start is not used for Financial Aid.

GPA (Grade Point Average): Calculated by using the final grade point value received in each course and the number of attempted credits.

Garnish Wages: If you default on your student loan, money may be withheld from your paycheck and paid to your lender on your behalf.

General Education Requirements: Requirements that must be met by all students seeking to complete any degree and/or certificate program.

Grace Period: A time period during which the borrower is not required to begin repaying their student loans. This period will begin if the borrower graduates or drops below half-time enrollment. The grace period is six months long for Stafford loan borrowers. PLUS loan borrowers do not have a grace period.

Graduated Repayment: A repayment schedule where the monthly payments are smaller at the start of the repayment period and become larger later on.

Graduation Requirements: The courses and other requirements that must be met for each program or degree-AA, AS, AAS, and AGS or Certificate of Achievement.

Grant: Grants are forms of financial aid that the student does not have to pay back unless the student receives grant money and does not attend classes or withdraws from all classes during a portion of the semester.

Guest Student: A student attending one semester with permission from their home school. These students are required to complete a special application process. Final grades are forwarded directly to the home school. Guest students are not eligible for financial aid.

Hold: Prevents registration due to an unpaid bill or unresolved student disciplinary issue.

Honors Courses: Special sections of classes with enriched content. These sections are only open to students who have been admitted to the honors program. Honors sections are noted on a student’s official transcript.

Honors Program: An academic program open to any student who has earned a 3.5 GPA and completed the honors program admissions process. Completing the requirements earns an “Honors Degree” at graduation.

Humanities: The fine arts, literature, philosophy, speech, foreign language and sign language as vehicles for human expression as well as means by which to understand the human condition.

Hybrid Course: Hybrid courses blend face-to-face instruction with online learning, reducing the amount of time students spend in the classroom.

Incomplete: “I” grade given by an instructor at the end of a course indicating the student has not completed required work. The student will be given the opportunity to finish the work in a specified time, and the grade will be changed to a standard letter grade.

Independent Student: A student who meets one or more of the following criteria and therefore is not required to include parental information on their FAFSA:

  • Age 24 by December 31 of the academic year for which aid is requested
  • Orphan or ward of the court
  • Veteran of the U.S. Armed Forces
  • Graduate or professional student
  • Married prior to signing and filing the Free Application for Federal Student Aid (FAFSA)
  • Have legal dependents other than a spouse
  • Deemed to be independent by the school’s financial aid administrator because of special circumstances.

Information Desk: Areas designated throughout campus to provide general information to students. In addition they may also provide tickets in order to be seen by certain departments. Also referred to as an Information Kiosk.

Interest: An amount, calculated as a percent of the principal loan amount that is charged for borrowed money. See Fixed Interest and Variable Interest.

Interest Capitalization: Addition of unpaid interest to the principal balance of a loan which increases the total outstanding balance due. See also Capitalization.

Interest Only Payment: A payment that covers only accrued interest owed on a loan and none of the principal balance. Interest-only payments do not prohibit borrowers from making additional or larger payments at any time if the borrower desires.

Kiosk: Free-standing, limited access Internet terminals for MCC students.

Laboratory Science-Natural or Technical: Classes based on the observation, identification, description, experimental investigation and theoretical explanation of natural phenomena or technical processes.

Late Start Classes: Late Start classes meet for approximately 12 weeks, rather than the traditional 15 weeks. Fall and Winter Late Start classes begin on the Monday of the 5th week of the semester and have the same end date as a 15 week class.
Spring/Summer Late Start classes begin on the 2nd Monday of the Spring session and end on the final day of the Summer session.

Lender: The financial institution that provides loan funds to be borrowed.

Loan: A sum of money borrowed from a lender that requires repayment. The borrower promises to repay a specified amount under prescribed conditions. The lender usually charges interest for use of the money, and the amount borrowed typically is repaid with interest over a period of time.

Loan Proceeds: The money the borrower receives from a loan (or the amount borrowed minus fees).

Loan Term: A length of time in which to repay a loan. The term is usually agreed to by lender and borrower within the borrower’s contract of promissory note. Also refers to language used in legal documents, such as the promissory note, that defines how a loan will be borrowed and repaid. Also refers to some postsecondary educational institutions’ academic period.

M-TECSM/ Michigan Technical Education CenterSM: These community college based centers are focused on delivering training programs in high-wage, high-skill, high-demand occupations to increase the numbers of skilled employees in these fields.

Master Promissory Note (MPN): The promissory note the student signs when borrowing a loan from the Federal Direct Stafford Loan program. When the student signs a Federal Direct Stafford promissory note, a binding legal document, they promise to repay the student loan(s). The note also includes important language about rights and responsibilities as a borrower. The Master Promissory Note covers both the Subsidized and Unsubsidized Direct Stafford Loans.

Module: A section of a course, approved by the college to be offered in as small as 1/4 credit portions, that consists of a complete set of competencies or skills on a specific topic that can be learned as a stand-alone set of instruction. Although each module is a complete learning experience in itself, some modules may be prerequisites to others.

Multicultural/Ethnic: Courses based on the study of non-European groups such as African, Middle Eastern, Asian, African-American, Latin American and Native American, which may include their history, culture and social issues.

Non-Credit Course: A course for enrichment or information and not providing college credit, usually offered through Continuing Education.

Non Sufficient (NS) Grade: A grade assigned by a faculty member when they have had, in their judgement, insufficient instructional contact with the student and the student has not officially withdrawn from the course. The student cannot receive financial aid funds for a class or classes he/she does not attend and will be responsible for repaying to the College the aid or the cost of tuition/fees for the class.

OE/OE (Open Entry/Open Exit) Course: A course having a section code beginning with the letters OE. Students may register for such courses at anytime throughout the semester and, in consultation with the instructor, plan an exit date. Although students can consult with their instructor, this type of course has no specific class meeting times. For the most part, students work in an OE/OE Lab in an independent study environment.

Occupational: An educational course or program designed to prepare the student for employment.

Office Hours: The hours scheduled by instructors indicating when they will be in their offices to meet with and assist students.

Orientation: A time scheduled for groups of new students to meet with a counselor, tour facilities, and become acquainted with college policies, procedures, programs, and services.

Origination Fee: An amount, payable by the borrower and deducted from the principal of a loan prior to disbursement to the borrower. For federally backed loans, the origination fee is paid to the federal government to offset the cost of the interest subsidy to borrowers. For private loan programs, the origination fee is generally paid to the originator to cover the cost of administering and insuring the program.

Permanent Record: See transcript.

PLUS Loan: Parent Loans for Undergraduate Students. A student loan taken out by the dependent student’s parent to cover the student’s educational costs. The parents’ credit history is considered with this loan.

Placement Test: Tests in English, mathematics, and reading given to students prior to registering in order to provide information on appropriate beginning courses.

Portfolio: A collection of work, such as drawings, photographs, writings, etc., which may be used to fulfill one or more requirements for a course or program.

Prerequisite: A requirement the student must successfully complete prior to enrolling in a specified course.

Principal: Amount borrowed, which may increase as a result of interest capitalization, and the amount on which interest is calculated. Also known as principal balance.

Private Loans: Private loans, also known as alternative loans, can provide supplemental funding when other financial aid does not cover costs. These loans are offered by banks, other financial institutions, and schools to parents and students. Student’s credit history is considered with these loans.

Program of Study: Declared major or program that a student is pursuing. This can be an associate’s degree, certificate program or transfer program. Students must have an approved Program of Study in order to receive Title IV funding.

Readmission: Acceptance back into the college after the student has not been enrolled for 5 years.

Reduction of Family Income: A form the student may complete (at their option) if their financial situation changes significantly for the previous year, based on special circumstances (i.e., death in the family, divorce, separation, loss of employment). This form can only be received between June 1st and January 31st. Requesting a Reduction in Family Income does not guarantee approval.

Registrar: The college officer who maintains records regarding credits attempted, courses taken, grades, official transcripts and student discipline files.

Registration: The process of enrolling in courses and paying tuition.

Registration Fee: A non-refundable fee charged to students for enrollment each semester.

Repayment: The time during which a borrower actively pays back an education loan.

Required Courses: All courses that a student must take to complete a degree and/or program of study.

Residency: The location in which a student resides determines his/her tuition rate. Tuition rates vary for in-district residents, Michigan residents outside of the district or out-of-state residents.

Return of Funds: Money returned to the U.S. Department of Education for a student who dropped one or more classes prior to the 60% completion date for a semester.

SAP (Satisfactory Academic Progress): A policy the student must meet in order to be eligible to receive financial aid. Satisfactory Academic Progress (SAP) is determined by a GPA of 2.0 or better, completion of a minimum of 67% of credit hours enrolled per semester and completing an associate degree within 93 maximum credit hours.

SAR (Student Aid Report): A report sent by email or mail to the student by the US Dept. of Education showing the results of the student’s processed FAFSA application.

Scholarship: A form of financial aid that doesn’t have to be repaid. These awards come from many different sources and are based on a wide variety of criteria.

School Code: A federal code assigned to each college or university that participates in financial aid programs. The code number for Mott Community College is 002261. By listing this code on your Free Application for Federal Student Aid (FAFSA), Mott Community College will receive the results of your application.

Second Half Classes: Second Half classes meet for approximately 7 1/2 weeks. Fall and Winter Second Half Classes begin one day after First Half classes end. Second Half classes have the same end date as a 15 week class.

Section: A specific scheduled offering of a course. Multiple sections of most courses are offered each semester or session. Each section has a separate time and location.

Semester: A division of the academic year used in academic scheduling. MCC has four semesters: Summer, Fall, Winter, Spring.

Servicer: A third party organization that maintains a lender’s student loan portfolio and is paid a fee to do so.

Social Science: Anthropology, economics, geography, history, political science, psychology and sociology as vehicles to study the behavior of individuals, groups and societies.

Sophomore: The second year of college study beginning after the successful completion of 27 credits.

Standard Repayment: A repayment schedule reflecting equal monthly payments over a 10 to 15 year period.

Student Loan Collections: The activities and/ or actions associated with getting payment on unpaid loan principal and interest from a borrower after that borrower defaults on a loan. The players in the loan process that could be taking these actions include lenders, guarantors, servicers and collection agencies.

Telecourse: A college course where lessons are viewed on a television instead of classroom meetings. The lessons are available on video tapes/DVDs at libraries. Students are required to read textbooks and do assignments at home and come to MCC for an orientation, review sessions, and examinations.

Transcript: A copy of the student’s permanent record, including courses attempted and grades. A student may order copies of their transcript from the Office of Records & Registration or through WebAdvisor.

Transfer: The process of either having MCC credits accepted by another college or applying to MCC to accept credits taken at another accredited college.

Tuition: The amount of money a student must pay to register for courses at MCC. Tuition is based on contact hours, and the student’s place of residence. (See Residency)

Tutor: A person who helps students needing assistance with a particular subject. MCC students can ask for tutorial help at the Learning Center, Math Empowerment Center, and Writing Center.

Two-plus-Two (2 + 2) Articulation Agreement: An agreement which allows students to transfer an MCC occupational/ technical Associate’s degree program as the first two years of a specified Bachelor’s degree program.

Three-plus-one (3+1) Articulation Agreement: An agreement which allows students to transfer an MCC occupational/ technical Associate’s degree program as the first three years of a specified Bachelor’s degree program.

Unmet Need: The difference between the student’s educational costs (also known as Cost of Attendance or budget) and their EFC. This is used to determine grant, work-study, loan and scholarship eligibility. Students can not receive more financial aid than there is need.

Variable Interest: With a variable interest loan, the interest rate changes periodically. For example, the interest rate might be affected by the cost of the U.S. Treasury Bills (e.g., T-Bill rate plus 1.7%) and be updated monthly, quarterly, semiannually, or annually.

Verification: Process whereby a student must document information reported on their FAFSA and submit it to Student Financial Services.

Verification Form: MCC internal form used to collect information used in the Financial Aid verification process.

Withdraw: When a student drops a class or all classes after the Date of Record.

Work Study: A financial aid program providing students, who demonstrate a financial need, part-time employment during the school year. Funds offered under this program must be earned through on campus employment.