filing-the-fafsa-2015-2016-edition

Filing the FAFSA 161
Bracket
A bracket refers to figures associated with a range of income. For example, a tax bracket is an income
range that is taxed at a particular rate.
Budget
See Student Budget.
Bursar
The bursar is the college official or office responsible for handling billing and payments for tuition, fees,
housing and other related expenses.
Cafeteria Plan
A cafeteria plan is a type of employee benefit under section 125 of the Internal Revenue Code. These
benefits are excluded from income, except when the plan discriminates in favor of highly compensated
employees or more than a quarter of the benefits accrue to key employees. Contributions to a cafeteria
plan and payments from a cafeteria plan are not reported as untaxed income on the FAFSA.
Calendar Year
A calendar year is a 12-month period that runs from January 1 to December 31.
Campus-Based Aid
Campus-based aid includes the Federal Perkins Loan, Federal Work-Study and Federal Supplemental
Educational Opportunity Grant programs.
Capital Gains
Capital gains refers to the profit from the sale of an investment or other asset.
Capital Losses
Capital losses refers to the loss from the sale of an investment or other asset.
Case-by-Case
A case-by-case professional judgment review considers each student’s situation separately from all others.
College financial aid administrators may not have broad policies or practices that treat all students the
same, regardless of the details of the student’s circumstances.
Cash Support
Cash support includes money, gifts and loans, plus expenses paid by others on the student’s behalf, such
as food, clothing, housing, car payments or expenses, medical and dental care and college costs.
Certificate
A certificate is an education credential awarded for completion of a one-year program.