Some schools use need-sensitive admissions when deciding to accept a borderline student or to pull a student off of the waiting list. Nonrenewable Award An award that is offered only once. This is in contrast to renewable awards, which are provided to a student annually for as long as the student is making satisfactory progress to the degree. Postsecondary Any education past grade 12 of the secondary school level. The principal is the amount of money borrowed or remaining unpaid on a loan.
Interest is charged as a percentage of the principal.
Insurance and origination fees will be deducted from this amount before disbursement. Professional Student A student pursuing an advanced degree in law, business, or medicine. Quarter A division of the academic year into fourths. A renewable scholarship is a scholarship that is awarded for more than one year. Usually the student must maintain certain academic standards to be eligible for subsequent years of the award.