Glossary

Glossary definitions provided in part by the Jump$tart Coalition for Personal Financial Literacy.

Eligible student: In order to be eligible for federal student financial aid the student: Must demonstrate financial need; must be a US Citizen or eligible non citizen with a valid social security number; must be working towards a degree or certificate in an eligible program; and must show by one of the following means, that you're qualified to obtain a postsecondary education: * Complete a high school education in a home school setting approved under state law; * Have a high school diploma or GED; *Maintain satisfactory academic progress in school; *Meet other state standards approved by the Dept of Education; *Pass an approved ability to benefit (ATB) test; *Register with the Selective Service if you're a male between the ages of 18 and 25.

Elimination Period: The length of time between when an injury or illness begins and receiving benefit payments from an insurer. Also known as the "waiting" or "qualifying" period.

Emergency fund: Money set aside for unexpected expenses or for living costs in case of job loss.

Employee Benefit : Compensation that an employee receives in addition to a wage or salary. Examples include health insurance, life insurance, childcare, and subsidized meals.

Employer-sponsored retirement savings plan: A government-approved program through which an employer can assist workers in building their personal retirement funds. Tax-deferred investment programs, such as 401(k) plans for corporate employees and Section 457 plans for state and local government employees, which provide, in some cases, employer matching funds.

Employer-Sponsored Savings Plan : A government-approved program through which an employer can assist workers in building their personal retirement funds. (

Encrypted: Putting information into a secret code so others can read it.

Enrollment Status: Your educational institution's own classification of your attendance, important to your eligibility for student loans. Federal Stafford, Grad PLUS and private loans require that you be enrolled at least half time.

Entrepreneur : An individual who conceives of, establishes, operates, and assumes the risks of a business.

Equal Credit Opportunity Act: A federal law that forbids lenders from discriminating against loan applicants on the basis of gender, race, marital status, religion, national origin, age, or receipt of public assistance.

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