Bachelor’s Degree An award (baccalaureate or equivalent degree, as determined by the Secretary, U.S. Department of Education) that normally requires at least 4 but not more than 5 years of full-time equivalent college-level work. This includes all bachelor’s degrees conferred in a 5-year cooperative (work-study) program. A cooperative plan provides for alternate class attendance and employment in business, industry, or government; thus, it allows students to combine actual work experience with their college studies. Also includes bachelor’s degrees in which the normal 4 years of work are completed in 3 years.  
Bachelor’s or equivalent degree-seeking sub-cohort In the GRS component of IPEDS, a cohort of students who were seeking a bachelor’s or equivalent degree upon entry.  
Balance Sheet An official financial statement that lists a postsecondary institution’s assets and liabilities as of a specified date.  
Benefits  Payments made to or on behalf of an individual over and above that received in the form of a salary or wage. Frequently this is associated with an insurance payment.  
Black or African American (new definition) A person having origins in any of the black racial groups of Africa. Black, non-Hispanic (old definition)Race/ethnicity (new definition)
Branch institution A campus or site of an educational institution that is not temporary, is located in a community beyond a reasonable commuting distance from its parent institution, and offers full programs of study, not just courses.