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Business Glossary Terms - S

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Find below a glossary of terms and definitions that begin with the letter S as it relates to business definitions.

Term Description
Scholarships Grants-in-aid, trainee stipends, tuition and required fee waivers, prizes or other monetary awards given to undergraduate students.
Semester (calendar system) A calendar system that consists of two sessions called semesters during the academic year with about 15 weeks for each semester of instruction. There may be an additional summer session.
Socioeconomic Diversity Socioeconomic diversity means having representation from a variety of social classes (family income and social position based on income, education and occupation), not necessarily dependent on race or gender.
Stafford Loans Provides guaranteed loans for educational expenses from eligible lenders to vocational or academic undergraduate, graduate, and first-professional students at eligible postsecondary institutions.
Standardized Admissions Tests Tests prepared and administered by an agency that is independent of any postsecondary education institution. Tests provide information about prospective students and their academic qualifications relative to a national sample. Examples are the SAT and the ACT.
State of Residence A person's permanent address as determined by such evidence as a driver's license or voter registration. For entering freshmen, state of residence may be the legal state of residence of a parent or guardian.
STEM Science, technology, engineering and mathematics.For Accountability reporting, includes physical sciences and mathematics, life sciences, engineering, computer science and health sciences.
Student Level

Lower Division: Undergraduate students who have completed between 0 and 89.9 quarter units (0-59.9 semester units). Upper Division: Undergraduate students who have completed at least 90.0 quarter units (60 semester units). Postbaccalaureate: Students holding a baccalaureate degree whose sole objective is an elementary or secondary teaching or other school credential. First Stage: Graduate students included in the Master’s and First Doctoral categories. Master’s: Graduate students currently working toward a master’s degree, a certification credential, a non-doctoral first professional degree (e.g., J.D., M.P.I.A., M.B.A.), or who have no degree objective. First Doctoral: Graduate students working toward an academicor professional doctorate who have not been advanced to candidacy. Second Stage: Doctoral students who have been advanced to candidacy.

Student-to-Faculty ratio

The ratio of FTE students to FTE instructional staff, i.e., students divided by staff. Students enrolled in "stand-alone" graduate or professional programs and instructional staff teaching in these programs are excluded from both full-time and part-time counts.
"Stand-alone" graduate or professional programs are those programs such as medicine, law, veterinary, dentistry, social work, or public health, in which faculty teach virtually only graduate-level students (also referred to as "independent" programs).
Each FTE value is equal to the number of full-time students/staff plus 1/3 the number of part-time students/staff.

Study abroad Arrangement by which a student completes part of the college program studying in another country. Can be at a campus abroad or through a cooperative agreement with some other U.S. college or an institution of another country.
Summer Session A summer session is shorter than a regular session and is not considered part of the academic year. It is not the third term of an institution operating on a trimester system or the fourth term of an institution operating on a quarter calendar system. The institution may have two or more sessions occurring in the summer months. Some schools, such as vocational and beauty schools, have year-round classes with no separate summer session.