Class Rank
Standing among all students at your school; do not list on application unless included on your transcript

Common App
An application accepted by more than 1,000 schools; input information just one time

Deferral
Accepting an admissions offer but delaying enrollment, typically by one or two semesters; often granted in cases of personal emergency or for gap years

Dependency
Tax filing status: if parents claim you as a dependent, your financial aid is based on their income

Early Action
Applicants get an early response, but offer is non-binding; students have until 5/1 to decide

Early Decision
Applicants get an early response; offer is binding (student must enroll in that school)

FAFSA
Free Application for Federal Student Aid; the basis for nearly all financial aid determinations

Legacy
Preferential admissions consideration given to children of alumni

Pell Grant
Need-based federal funds that are not repaid

Priority Date
Deadline for guaranteed application review; applications after priority date may be considered if open spots remain

Rolling Admission
Policy of accepting applications year-round for enrollment in the next term

Student Loans
Funds lent at fixed or variable interest rates; students enter repayment upon graduation or dropout
Subsidized: does not acquire interest before graduation
Unsubsidized: interest accrues while in school

Transcript
Complete record of academic achievements, including all courses, grades and credits earned; may include awards and honors, standardized test scores, GPA and class rank