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<strong>Central Processing System (CPS)</strong> – A company that is contracted by the U.S. Department of Education to process the Free Application for Federal Student Aid (FAFSA).
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<strong>Student Aid Report (SAR)</strong> – The paper output record provided to the student after completing the FAFSA. The SAR contains the student' s EFC and results of federal database matches. The electronic version of the record, which is sent to the school, is called the ISIR.
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