The Financial Aid Lingo You Need to Know The Financial Aid Lingo You Need to Know The college admissions process is stressful enough. By the time you get to filling out your financial aid forms, everything might just feel like a confusing, acronym-filled blur. FAFSA? SAR? EFC? Who even knows what all those terms mean? But don’t worry! Below is a list of all the financial aid terminology a pre-collegiette needs to know to survive funding your education.