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<strong>XML</strong> – EXtensible Markup Language. Common Record: CommonLine (CR:C) files are XML files.
<strong>Due diligence</strong> – The collection procedures required to attempt to satisfactorily resolve a delinquency and prevent a default in accordance with federal regulations.
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<strong>Aid Year (AY)</strong> – For the purposes of federal student aid, a period that begins on the first day of classes and ends on the last day of classes or examinations and that consists of at least 30 weeks of instructional time. The standard federal and state definition of an academic year is July 1 through June 30. (Note: the acronym “AY” may also refer to the Academic Year or Award Year.)
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