One important phrase in the language of student aid is satisfactory academic progress, or SAP, according to KHEAA.

All colleges that award federal student aid must have SAP standards. Those standards are based on three key areas: your GPA, your pace and a maximum time frame.

The GPA you’re required to have may vary by school, major and whether you’re an undergraduate or graduate student.

Your pace means that you have to pass a stated percentage of the classes you take in a given period of time. It may also vary by college.

The maximum time frame means you’ll have to finish your degree within a given number of attempted credit hours. For example, your school requires you to pass 120 credit hours to earn a bachelor’s degree. The maximum time frame might be that you have to pass those 120 hours without attempting more than 150 hours.

The catch is: if you don’t meet your school’s SAP standards, you may not be able to receive state or federal student aid. Make sure you know what your college’s standards are before you learn the hard way, losing out on potential financial aid.

KHEAA is a public, non-profit agency established in 1966 to improve students’ access to college. It provides information about financial aid and financial literacy at no cost to students and parents.

KHEAA also helps colleges manage their student loan default rates and verify information submitted on the FAFSA. For more information about those services, visit www.kheaa.com.