Glossary of Terms
Introduction
Some of the terms used in student finance and higher education can be confusing. To help clarify some of the terms, acronyms and jargon, we have compiled this glossary to help you.
- Academic Year
- Just as the calendar year runs from January to December, the academic year runs from October to September.
- Bursary
- A bursary is a non-repayable amount of money given to a student to help them with the cost of education and their living costs.
- HEI (Higher Education Institution)
- Any establishment which provides degree-level education. Universities are also referred to as HEIs when referring to their educational (rather than research) function.
- Loan
- An amount of money which is to be repaid at some time in the future. Usually there is an 'interest charge', which means that you repay more money than your borrowed in return for it being loaned to you.
- LEA (Local Education Authority)
- Part of local government, your LEA is responsible for assessing your family income.
- Means-Tested
- This refers to anything that is variable, based on your family income (or 'means to pay').
- Postgraduate
- This refers to a graduate who is studying for a second degree. It is also used to describe a course/programme intended for students who already posses a degree. (See also: Undergraduate)
- Scholarship
- Similar to a bursary, they are non-repayable sums of money given to a student to aid in their studies. Unlike bursaries, scholarships are usually limited in availability, based on excellence in some area, or for a specific purpose (music, sport, travel, etc.)
- Semester
- The Academic Year is evenly split into two semesters of 15 weeks, with different subjects (or modules) being studied in each one. (See also, Term)
- Term
- The Academic Year is split into three terms (autumn, spring and summer) with holidays in between. Terms are not necessarily of equal length. (See also, Semester)
- Undergraduate
- This is the term used for a student who is studying for their first degree. It is also used to describe a first degree course/programme. (See also: Postgraduate)