SASE		Self-Addressed Stamped Envelope.
SAT		Scholastic Aptitude Test, an aptitude test often required by colleges as part of the admission requirements. Test is used to measure a student's ability in math, verbal comprehension, and problem solving. SATs are administered during the junior and senior years in high school.
Satisfactory Academic Progress		An eligibility requirement to receive federal student aid. Satisfactory progress standards are established by each school.
Scholarship		A form of financial aid for qualified students to help pay for their education. May come in cash or in the form of tuition or fee reduction. Usually no return of service or repayment is required if academic obligations are met. Scholarships may be awarded based on any number of criteria, such as academics, achievements, hobbies, talents, affiliations with various groups, or career aspirations.
Scholarship Search		A service by which a student can find potential scholarships through a computerized search process. Southwest Student Services provides such a service free of charge.
Secondary Market		An organization that purchases student loans from eligible lenders and assumes the role and responsibility of the lender.
Selective Service		Registration for the military draft. Male students who are U.S. citizens, have reached the age of 18, and were born after December 31, 1959, must be registered with the Selective Service to be eligible for federal financial aid.
Semester		A system in which the school year is divided into two sessions of four to five months each, not including summer school.
Semester Hour		Units used to record credits earned at a school on the semester system. The number of units awarded is usually equal to the number of hours the class meets per week.
SEOG		Supplemental Educational Opportunity Grant Program; federal grant funds made available through some schools to a limited number of undergraduate students with financial need.
Servicer (Or Third Party Servicer)		An agent contracted by the lender to administer any aspect of its participation in a Title IV program for some or all of its student loans.
Skip Tracing		Diligent efforts to locate a borrower's address and phone number when such information is unknown.
Social Sciences		Courses which attempt to understand or explain human behavior. Psychology, Sociology, Political Science, and Economics are the usual Social Sciences, but History may be included at some schools.
SSN		Social Security Number.
SSSC		Southwest Student Services Corporation.
Stafford Loans (Federal)		Loans, both subsidized (need based) and unsubsidized (non-need based), guaranteed by the federal government and available to students to fund education.
Standard Repayment Schedule		See Level Repayment Schedule.
Statement of Educational Purpose		A legal document in which the student agrees to use the financial aid for educational expenses only.
Student Aid Report (SAR)		A federal output document sent to a student by the application processor. The SAR contains financial and other information reported by the student on the FAFSA. The student's eligibility for aid is indicated by the Expected Family Contribution (EFC), which is printed on the front of the SAR.
Supplemental Loan for Students		Federal loans for financially independent students. This program was eliminated in 1994 with the creation of the Unsubsidized Stafford Loan program.