Some of the terms and their definitions that we use at our institution include: Official Transcript: An official transcript is the University's certified statement of your academic record. It is printed on special University specific paper, and includes the official seal of the University. It is delivered to another school in a sealed envelope. Once it is opened by an individual, it is no longer considered official. Conditional Acceptance: Someone who is conditionally acceptance can be registered for classes, but can not receive any financial aid until the conditional acceptance becomes full acceptance. An example of conditional acceptance is when we are waiting on an official transcript from someone who is currently taking classes at another college or university, but we have their in-progress transcript. We will conditionally accept them until their final transcript comes in, and then will switch them to full accept if they meet GPA requirements as well. Prospects: People who are inquiring about the university, but have not made up their mind to apply.