A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z |

Variable Interest Rate: An interest rate on a loan that is adjusted at regular intervals such as monthly, quarterly, or yearly. Federal Stafford (Subsidized and Unsubsidized), Federal PLUS, Direct Loan (Subsidized and Unsubsidized), and Direct PLUS Loans carry variable rates that are determined annually.

Verification: The process of confirming information submitted on the FAFSA through the comparison of specified documents to the data on the output document: Student Aid Report (SAR) or ISIR. Schools must verify data for students selected by the federal Central Processing System (CPS) following procedures established by regulation. Schools may also select additional applicants to undergo the verification process.

Verification Worksheet: The document the postsecondary institution sends to the student, to be completed by the student and his or her family, and returned to the institution, to obtain documentation of the verification.

Veteran (for the purposes of determining dependency): A person who has served on active duty in the Army, Navy, Air Force, Marines, or Coast Guard, or was a cadet or midshipmen at one of the service academies (except Coast Guard), and who was discharged other than dishonorably. Veterans are considered to be independent. There is no minimum length of service requirement. Whether or not you are a veteran is a key question on the Free Application for Federal Student Aid (FAFSA). If you are a veteran, it is not necessary to supply parental information.

Veterans Educational Benefits: Assistance programs for eligible veterans and/or their dependents for education or training. Comprehensive information on all veterans programs can be obtained at www.va.gov. Also by calling or writing your nearest VA office.

Vocational Rehabilitation: Programs administered by state departments of vocational rehabilitation services to assist individuals who have a physical or mental disability that is a substantial handicap to employment. There is a clearinghouse for information on these programs, called HEALTH, the phone number of which is 800-544-3284.