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<strong>Academic 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 Award Year.)
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<strong>FISAP</strong> – Fiscal Operations Report and Application to Participate in the federal campus-based aid programs. Information about the FISAP, instructions, and the actual form may be found at:
http://www.cbfisap.ed.gov/CBSWebApp/welcome.jsp.
<strong>MODEL Direct</strong> – A web loan delivery product offered by the MDHE and developed by ASA, the MDHE' s servicer. MODEL Direct allows schools and lenders to inquire on loans or borrowers, submit change transactions, manage files, and guarantee new loans within a real-time environment. See
http://www.dhe.mo.gov/model.shtml for more information.
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