Financial Literacy-Navigate Vocabulary
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Admission process
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the application and evaluation process a prospective student goes through to be accepted to a school.
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Advanced Placement (AP)
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a program of college level courses taught in high schools to prepare students for Advanced Placement (AP) tests. These tests, administered by the College Board, provide the opportunity for students to earn college credit.
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Associate degree
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a degree awarded by community colleges, technical schools and some universities after completion of a program of approximately 60 credit hours (also called a twoyear degree).
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Bachelor's degree
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a degree awarded by a college or university after completion of an academic program of approximately 120 credit hours (sometimes called a four-year degree).
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Career
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a professional field or occupation that one trains for or undertakes as an intentional path.
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Class rank
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a measure of a student's grades compared to the other students in the class.
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College
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an institution that offers classes and instruction leading to a bachelor's degree and/or vocational training and certification.
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Community college
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a two-year school that offers associate degrees and workforce certification programs (sometimes called a junior college).
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Commuter student
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student who lives off-campus and travels to the school for courses and other activities.
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Credit-by-exam
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tests that provide the opportunity to earn college or high school credit by passing a standardized test without taking a course.
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Dual-credit courses
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high school courses that count toward high school graduation requirements and earn college credit hours.
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Fees
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see tuition and fees.
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Student Aid (FAFSA)
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an application that includes financial information about a student and his or her family and is used to determine the student's eligibility for financial aid.
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GED
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a set of tests that allow people who did not graduate from high school to obtain high school credentials.
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GPA (grade point average)
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an average of a student's grades in all classes taken, often reported on a four-point scale.
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Human capital
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knowledge, talent, experience and skills that people possess.
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In-state tuition
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the tuition paid by students who reside in the same state as the college or university they attend.
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International Baccalaureate Program (IB Program)
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a program of challenging high school classes with a global focus. Courses include examinations that may allow a student to earn college credit.
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Junior college
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see community college
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32 NAVIGATE
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Exploring College and Careers Federal Reserve Bank of Dallas
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Liberal arts college
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an undergraduate school that awards degrees in areas such as English, history, economics, foreign languages, math and science.
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Major
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the academic discipline in which a student takes most of his or her classes.
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Master's degree
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a one- to two-year graduate degree that is earned after a bachelor's degree. The field of study can be an academic discipline or professional field.
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Out-of-state tuition
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the tuition paid by students who reside in a different state from the college or university they attend.
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Private school
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a college or university that is administered by a private organization and receives the majority of its funding from tuition, fees and donations to the school.
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Professional degree
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a graduate-level degree that provides training in specific skills related to a career, such as medicine or law.
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Public school
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a college or university that is administered by a local or state government and receives funding from government sources.
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Religious affiliation
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the historic or current association of a college with a religious faith. Some of these institutions may require specific religious instruction.
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Residential school
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an educational institution that provides housing for students.
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Room and board
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the cost of living and eating on campus.
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Six-year graduation rate
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the portion of students at a college or university who complete a bachelor's degree within six years.
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Student-faculty ratio
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the number of students per member of the faculty
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Technical school (vocational school)
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post-high school institutions that provide technical training. Programs sometimes lead to certifications or licenses.
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Transcript
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an official record of a student's grades.
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Tuition and fees
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cost of instruction and facility use (classes) at an educational institution. Tuition can be quoted as a cost per credit hour or as a flat rate for a range of credit hours. Fees include general fees, such as for use of libraries and for student activities, and may include course-specific costs, such as lab fees.
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Undergraduate classes
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classes offered to students who have not earned a college degree
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University
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an institution usually made up of multiple colleges (such as liberal arts, medical or business) that offers bachelor's, master's and doctoral degrees.
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Vocational school
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see technical school. Weighted GPA: a grade point average (GPA) that is calculated with extra points added to the grade value for honors or advanced classes.
