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<strong>FAFSA</strong> – Free Application for Federal Student Aid, the form the student must complete to apply for federal Title IV financial assistance and for Missouri need-based aid programs. The FAFSA may also be completed on the web at the following url:
http://www.fafsa.ed.gov/.
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<strong>BBAY</strong> – Borrower-based academic year, an academic year which deviates from the standard definition and is often used by technical or vocational schools or within non-traditional programs of study. A BBAY is individualized for each borrower and generally covers a period of time during which the borrower completes at least a certain number of credit hours.
<strong>Academic Year (AY)</strong> – For the purposes of federal student aid, a period that begins on the first day of classes and ends on the last day of classes or examinations and that consists of at least 30 weeks of instructional time. The standard federal and state definition of an academic year is July 1 through June 30. (Note: the acronym “AY” may also refer to the Award Year.)
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