Financial Aid Terms Academic Year: The nine months a student is enrolled–two semesters, usually August through May. Aid Eligibility: The difference between the total cost of education and the expected family contribution; the total amount of assistance for which you may be eligible during the academic year. Direct Costs: Charges billed by the university: tuition, room and board, and fees. EFC: Expected Family Contribution, calculated by the federal methodology using information you provided on the FAFSA. FAFSA: Free Application for Federal Student Aid. Family Responsibility: The difference between direct charges and the assistance you have been offered (excluding the Federal Work-Study Program). Indirect Costs: Living expenses incurred by the student while attending school: books, transportation and personal expenses. Merit and Talent Awards: Awards based on academic achievement or performance ability. Need-based Assistance: Awards based on aid eligibility. Self-help: Loans and student employment opportunities. Total Cost of Education: All expenses involved in attending college for an academic year: tuition, room and board, books and supplies, transportation, and personal expenses. UAPP: University of Indianapolis Financial Aid Application.