529 (College Savings) Plan – A type of investment account that offers tax breaks for contributing money that a named person can use to save money for his/her higher education. These plans are usually sponsored by an individual state. It is named from Section 529 of the Internal Revenue Code, which specifies the plan’s tax advantages. The Program generally references college savings accounts. 529 accounts and college savings accounts are used interchangeably and are a reference to the same account. In Missouri, the 529 Program is called MOST – Missouri’s 529 College Savings Plan (www.missourimost. org). In Kansas, the 529 Program is called Learning Quest (www.learningquest.com).
Account Owner – The person in whose name the 529 college savings account is opened and considered to be the property of. The account owner selects investments, assigns the beneficiary, and determines how the account funds are used. The account owner can be a parent, grandparent, other relative, or friend that is age 18 and above. The account owner must be a U.S. citizen or permanent resident with a valid Social Security number or other taxpayer identification number.
ACT – A standardized test for national college admissions. All 4-year colleges and universities in the KC Scholars Program Postsecondary Network accept ACT scores.
Appeal – A request to have Great Jobs KC re-evaluate a decision based on unusual circumstances or incorrect information.
Beneficiary – The person whose education expenses are to be paid out of the savings held in a 529 college savings account. The beneficiary must be a U.S. citizen or permanent resident with a valid Social Security number or other taxpayer identification number.
COA (or Cost of Attendance) – The total amount of college expenses before financial aid that a student should expect to pay to attend a specific institution. Cost of attendance includes money spent on tuition and fees, room and board, books and supplies, and living expenses. Each institution has its own method for calculating the Cost of Attendance at that Institution.
College Savings Match Program – One component of the Program is a College Savings Match Program whereby 9th graders that are accepted into the Program have a 529 college savings account set up, with a $50.00 initial deposit into the account made by Great Jobs KC, Inc. – KC Scholars Scholarship Program, and are then able to contribute to the account by May 1st of the awardee’s Senior Year and then have their contributions matched by the Program.
Contributor – A contributor is anyone (you, your spouse, your biological or adoptive parent, or your parent’s spouse) who is required to provide information on the FAFSA form, sign the FAFSA form, and provide consent and approval to have their federal tax information transferred directly from the IRS into the form.
Credit-bearing Courses – A college course for which an Institution awards a student credits for the successful completion of a specified college-level course.
Cumulative GPA – A number that shows overall academic performance and is computed by assigning a point value to each grade earned. Cumulative refers to the average GPA over a set period of time (e.g., middle school, high school).
Developmental Courses – Sometimes referred to as foundational, skill-building, or remedial courses, these are classes that students must take and successfully complete before enrolling in college-level courses. The decision about whether a student must take, and complete developmental courses is assessed on the basis of proficiency as estimated through college entrance testing and also on the basis of prior academic performance. Some developmental courses are credit bearing and others are not.
Eligibility Criteria – The set of basic standards that must be met to be eligible to apply for the scholarship Program. The Program criteria include geographic factors, academic performance factors, grade level or age requirements, and income threshold requirements.
Eligibility Requirement Check – When a potential applicant enters the Great Jobs KC, Inc. – KC Scholars Scholarship Program portal, he/she will need to take and pass the eligibility criteria check to apply.
Enrollment Status – A classification based on the number of credit hours a student is taking (full-time or part-time). Some loans or financial aid may be available only to students with a certain enrollment status. In the case of the Program, Traditional scholarship and College Savings Match recipients must enroll in college full-time and Adult Learners can enroll part- or full-time.
FAFSA – Free Application for Federal Student Aid that is administered by the U.S. Department of Education to determine a student’s eligibility for federal financial aid. Most states and colleges and universities use the FAFSA to determine eligibility for state and federal financial aid.
Federal Student Aid Estimator – A tool used to estimate the Student Aid Index (SAI) used earlier than when the actual FAFSA itself is completed. For the Program, Traditional scholarship applicants (11th graders) and College Savings Match applicants (9th graders) will utilize the Federal Student Aid Estimator as it will not yet be time to complete the FAFSA at the time when they apply for the scholarship. Adult Learners may use the Federal Student Aid Estimator or the FAFSA Submission Summary at the time of their application.
FAFSA Submission Summary – The FAFSA Submission Summary is a paper or electronic document from the U.S. Department of Education’s office of Federal Student Aid that lists answers to the questions on the student’s FAFSA form and gives basic estimates about the student’s eligibility for federal student aid. It is not a financial aid offer.
FAFSA Verification – The process of collecting documentation to validate the accuracty of information provided on the FAFSA; this process is completed by the college or university a student will/is attending based on documents provided by the student.
GPA (Grade Point Average) – A number that shows overall academic performance and is computed by assigning a point value to each grade earned.
Online Scholarship Portal – The Program uses an online portal for all scholarship applications, documentation, communication, rewarding notifications, appeals, and all other processes to run the Program. The portal is accessible to scholarship applicants and awardees from the Great Jobs KC, Inc. website and also at apply.greatjobskc.org
Postsecondary – Postsecondary is used to refer to any education that occurs after secondary or high school. College, university, postsecondary institution, and institution of higher education are terms that are used interchangeably.
Postsecondary Institution – This term is used to refer to a college or university and may also be called a higher education institution or an institution of higher education.
Program Guidelines – This document is referenced as the Program Guidelines for the KC Scholars Scholarship Program and identifies the key requirements and processes related to a person’s participation in the Program.
Renewal – The process of completing portal tasks each enrollment term.
SAT (Scholastic Achievement Test) – The SAT is a standardized test that is used by some colleges and universities to make admissions decisions.
Scholarship – A scholarship is gift aid or funds given to a student that do not need to be paid back. Scholarships are given to select students that meet criteria set forth by the Program to establish who is eligible to apply. Each scholarship Program sets its own criteria and process for making awards.
Selection Criteria – Criteria set forth by the Program and upon which decisions will be made regarding awarding of the scholarship after the initial application. Reviewers apply the Selection Criteria to award points to applicants based on answers provided on the application and ultimately to determine to whom scholarships should be awarded. As with most scholarship Programs, selection criteria are not publicly published.
Student Aid Index (SAI) –The Student Aid Index (SAI) is an eligibility index number that your college’s or career school’s financial aid office uses to determine how much federal student aid you would receive if you attended the school. This number results from the financial information you and your contributor(s) provide on your FAFSA® form. This number is not a dollar amount of aid eligibility or what your family is expected to provide. A negative SAI indicates the student has a higher financial need. This number results from the financial information provided in the FAFSA, the application for federal student aid. To learn more about Student Aid Index, go to: studentaid.gov/aid-estimator/
Transcript – The official record of a students’ course work at a high school, college or university, showing courses taken, credit hours attempted and completed, GPA (both term and cumulative), and number of credit hours earned. Official Transcripts are awarded by each institution provided that a student is in good standing.
Undergraduate Degree – An associate or bachelor’s degree or a credit-bearing credential that is awarded to a student upon completion of the requirements established by a certain postsecondary institution.
Additional helpful glossaries are available at:
KC Scholars Scholarship Program Contact Information
For additional information about the KC Scholars Scholarship Program, please direct inquiries to:
