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Help - Glossary


The following glossary listing contains definitions/descriptions of terms that are related to Federal student aid Title IV programs and/or acronyms..

The terms are listed according to alphabetical order. You can select the All link to view a listing of all of the glossary terms, or you may select the letter equal to the first letter of the term.

Glossary

  • Base Year

    The calendar year used for determining income, taxes, and other financial data when completing the FAFSA. Beginning with the 2017–2018 award year, the base year is the “prior-prior year” or two years before the first calendar year of the award year. For example, 2015 is the base year for 2017–2018.
  • Batch

    A group of records submitted together. Batches can consist of one or more records. Users can submit data for students in a file called a batch. The batch contains a network header record, the Common Record with one or more students / awards / disbursements and the network trailer record. Periodic sweeps of a school's Student Aid Internet Gateway (SAIG) mailbox are performed to pick up these batches and send them to the COD System for processing.
  • BBAY

    Borrower-Based Academic Year
  • Begin or End Date

    The month and year on which a grant award begins and ends. It is the funding period for the award, and includes any applicable amendments. Normally, the funding period is 12 months.
  • Best Practice

    Superior method or innovative practice that contributes to the improved performance of an organization.
  • BIA

    Bureau of Indian Affairs
  • Bilingual Education

    An educational program in which two languages are used to provide content matter instruction.
  • BLS

    Bureau of Labor Statistics
  • Book Voucher

    A document that reflects funds available on a student's account that can be used to purchase books and other educationally related materials from either a school or unaffiliated bookstore.
  • Booked Direct Loan

    A loan that is a legal binding obligation between the borrower and the U.S. Department of Education. A loan is considered booked when the COD System has accepted the loan origination record (the award record has been linked to the MPN), the MPN, and the first actual disbursement record for that loan ID. Direct PLUS Loans also require an accepted credit decision on file in the COD System to be booked.
  • Booked TEACH Grant

    A TEACH Grant becomes booked when COD has accepted the TEACH Grant origination record, an ATS has linked to the grant, and an actual disbursement record has been accepted.
  • Borrower

    An individual to whom a Title IV education loan is made.
  • Borrower Based Academic Year (BBAY)

    An academic year standard that may be used to measure annual loan limit progression (i.e., when a borrower becomes eligible for their next annual loan limit). Unlike a Scheduled Academic Year (SAY), a BBAY follows an individual student's academic progress and does not begin and end at the same time each year.
  • Borrower Defense Claim

    A claim that is or could be asserted as a borrower defense when requesting discharge of a Direct Loan obligation.
  • Borrower's Rights and Responsibilities (BRR) Statement

    Required under the HEA, the BRR Statement provides additional information about the terms and conditions of the loans a borrower receives under the MPN for Federal Direct Loans.
  • Branch Campus

    A location of an institution that is geographically apart and independent of the main campus of the institution. The Department considers a location of an institution to be independent of the main campus if the location
    • is permanent in nature;
    • offers courses in educational programs leading to a degree, certificate, or other recognized educational credential;
    • has its own faculty and administrative or supervisory organization; and
    • has its own budgetary and hiring authority.
  • BRR

    Borrower's Rights and Responsibilities
  • Business Assets

    Property that is used in the operation of a trade or business, including real estate, inventories, buildings, machinery, and other equipment, patents, franchise rights, and copyrights.
 
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