GLOSSARY OF DEFINITIONS
Identification number used by the U.S. Department of Education's Office of Postsecondary Education (OPE) to identify schools that have Program Participation Agreements (PPA) so that its students are eligible to participate in Federal Student Financial Assistance programs under Title IV regulations. This is a 6-digit number followed by a 2-digit suffix used to identify branches, additional locations, and other entities that are part of the eligible institution. International Academy's OPEID code: 02257900
The Classification of Instructional Programs (CIP) is a taxonomic coding scheme for postsecondary instructional programs/fields of study that facilitates the organization, collection, and reporting of program data. The CIP was developed by the U.S. Department of Education's National Center for Education Statistics (NCES) and is the accepted federal government statistical standard on instructional program classifications and is used in a variety of education information surveys and databases. Example of a 6 digit CIP code: 51.3501 (For International Academy's Program CIP Code's refer to each program home page).
The 2010 Standard Occupational Classification (SOC) system is used by Federal statistical agencies to classify workers into occupational categories for the purpose of collecting, calculating, or disseminating data. All workers are classified into one of 840 detailed occupations according to their occupational definition. To facilitate classification, detailed occupations are combined to form 461 broad occupations, 97 minor groups, and 23 major groups. Detailed occupations in the SOC with similar job duties, and in some cases skills, education, and/or training, are grouped together. General questions concerning the SOC may be sent by email or faxed to 202-691-6444.
Example of a SOC code: 31-9011.00 (For International Academy's Program SOC Code's refer to each program home page).
-International Academy's Program (Credential) Level: 01-Undergraduate Certificate
List of Credential Levels:
04-Post Baccalaureate Certificate
CONTACT HOUR (Clock Hour): A unit of measure that represents an hour of scheduled instruction given to students.
-International Academy's programs are based on Contact Hour, which we refer to as Clock Hour. For example, the Cosmetology Program requires 1200 clock hours for completion.
CREDIT HOUR: A unit of measure representing the equivalent of an hour (50 minutes) of instruction per week over the entire term.
-International Academy's programs are not based on Credit Hour.
TUITION AND REQUIRED FEES FOR ENTIRE PROGRAM: The amount of tuition and required fees charged to a student for the entire program. Required fees are the fixed sum charged to students for items not covered by tuition and required of such a large proportion of all students that the student who does not pay the charge is an exception. Institutions that do not charge by program, for example a 2-year program whose tuition rates change from one year to the next, would be required to calculate the total tuition and fees for the entire length of the program.
NORMAL TIME: The amount of time necessary for a student to complete all requirements for a degree or certificate according to the institution's catalog. This is typically 4 years (8 semesters or trimesters, or 12 quarters, excluding summer terms) for a bachelor's degree in a standard term-based institution; 2 years (4 semesters or trimesters, or 6 quarters, excluding summer terms) for an associate's degree in a standard term-based institution; and the various scheduled times for certificate programs.
BOOKS AND SUPPLIES FOR ENTIRE PROGRAM: The average cost of books and supplies for a typical student for the entire program. If this information is not available by program, use your institutional estimate.
ANNUAL ROOM AND BOARD CHARGES: The annual charges assessed students for an academic year of rooming accommodations (for a typical student sharing a room with one other student) and meals.
-International Academy does not assess students room or board fees. We do not
offer on-campus/off campus housing or meal plan programs.
Sec. 668.43(a): This refers to Title 34 (Education) of the Code of Federal Regulations, Section 668.43 (Institutional information). Visit the IFAP (Information for Financial Aid Professionals) website for more information on regulations related to the administration and processing of Title IV federal student aid: http://www.ifap.ed.gov/ifap/ .
PROGRAM COMPLETION: When a student completes all program requirements and receives a degree, diploma, certificate, or other formal award. In order to be considered a completion, the degree/award must actually be conferred.
ON-TIME COMPLETION RATE: The On Time Completion Rate is calculated by the following methodology: Total number who graduated during 7/1/10-6/30/11 divided by the number who completed their program on or before their orginal contracted graduation date.
FEDERAL STUDENT LOANS: Includes all Title IV student loans, such as Direct Loans (subsidized and unsubsidized) and Perkins loans. This does not include PLUS and other loans made directly to parents.
PRIVATE LOANS: A loan provided by a private educational lender that is not a title IV loan and that is issued expressly for postsecondary education expenses to a borrower, regardless of whether the loan is provided through the educational institution that the student attends or directly to the borrower from the private educational lender.
INSTITUTIONAL FINANCING PLANS: An institutional financing plan is the extension of credit to a student for educational costs that will be paid by the student (or on the student’s behalf) after the program of study has ended. The amount and frequency of the installment payments and whether they include a fee or interest are specified in the written plan.