Acronym S.O.S.

It's time for your high school student to get serious about college - work on their GPA, prepare for the PSAT and SAT, consider AP courses. Your role is to calculate the COA and your EFC for the FAFSA. Better make that ASAP!

It seems the moment a student starts planning for college, they're surrounded by acronyms -- words formed by the first letters of other words. When faced with an acronym you don't understand, the best solution is usually to ask what it means so there isn't any confusion. If that doesn't work, have a glimpse at this list of acronyms, all selected FYI.

(ACT) American College Testing:
A test designed to measure a student's ability in math, verbal comprehension and problem solving. Usually students take this test during their junior or senior year of high school.

(AP) Advanced Placement:
Students who earn advanced placement in a subject can skip the introductory course and go right to a more advanced class.

(COA) Cost of Attending:
The total cost of attending a post-secondary institution for one academic year. The COA usually includes tuition, fees, room, board, supplies, transportation and personal expenses.

(CSS) College Scholarship Service:
A division of the College Board that collects additional information used by some colleges, universities, and scholarship programs in awarding private financial aid funds.

(ED) Department of Education:
Government agency that administers several federal student financial aid programs. Also referred to as USED, for the U.S. Department of Education.

(EFC) Expected Family Contribution:
When a student applies for financial aid, the applications may ask questions about their family's earnings, savings and assets. These numbers help calculate the Expected Family Contribution, which is the portion the student's family is expected to pay.

(FAA) Financial Aid Administrator:
A college or university employee who is involved in the administration of financial aid. Also known as financial aid advisors, officers or counselors.

(FAFSA) Free Application for Federal Student Aid:
The first step for financial aid. If a student wants to receive federal financial aid for their education, they must fill out a FAFSA. The FAFSA is processed for free.

(FAT) Financial Aid Transcript:
A record of all federal aid received by students at each school they've attended.

(FFELP) The Federal Family Education Loan Program:
Stafford and PLUS loans are financed by private lenders and guaranteed by the federal government.

(FWS) Federal Work Study Program:
This federal program provides part-time jobs for undergraduate and graduate students who need financial assistance.

(FSAIC) Federal Student Aid Information Center:
Offers assistance to students and families who have questions about applying for financial aid from the federal government.

(GPA) Grade Point Average:
A student's average grade for the classes they've taken. You can figure out a student's GPA by calculating the average of their grades, using 4 for an A, 3 for B, 2 for a C, 1 for a D and 0 for an F.

(ISIR) Institutional Student Information Record:
If a student has used the FAFSA to apply for federal student aid, the Department of Education forwards their information electronically to the schools indicated by the student.

Leveraging Educational Assistance Partnership (LEAP) Program:
This program, through matching formula grants to states, provides grant aid to students with substantial financial need to help them pay for their post-secondary education costs.

(LSAT) Law School Admission Test:
The LSAT is required for admission to most law schools.

(MCAT) Medical College Admission Test:
The MCAT is required for admission to most medical schools.

(PCAT) Pharmacy College Admission Test:
The PCAT required for admission to pharmacy colleges.

(PLUS) Parent Loans for Undergraduate Students:
Federally insured loans for parents of dependent students.

(PSAT) Preliminary Scholastic Assessment Test:
The PSAT is usually taken in 10th or 11th grade and is part of a student's preparation for the SAT. It is also one of the requirements for the National Merit Scholarship program.

(SAR) Student Aid Report:
A report that summarizes financial and other information reported on the FAFSA. The SAR is sent to a student by the federal government. The student's financial aid need or eligibility is indicated by the Expected Family Contribution (EFC), which is printed on the document.

(SAT) Scholastic Assessment Test:
A test of mathematical, critical reading and writing skills that students take in their junior or senior year.

(SEOG) Supplemental Educational Opportunity Grant Program:
Federal grant funds made available through some schools to a limited number of undergraduate students with financial need.

(TOEFL) Test Of English as a Foreign Language:
Taken by foreign students who wish to study at an English-speaking school if English is not their first language.