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College Prep College Loans

memorize.ai (lvl 286)

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15 cards

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Section 1

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Unsubsidized Loan

Front

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Last updated

6 years ago

Date created

Mar 1, 2020

Cards (15)

Section 1

(15 cards)

Unsubsidized Loan

Front

A non-need-based loan from the federal government the interest of which is paid for by the borrower.

Back

Cosigner

Front

Someone who promises to pay if the borrower fails to pay

Back

interest

Front

A sum paid or charged for the use of money or for borrowing money

Back

borrower

Front

Someone who receives something with a promise to return it or its equivalent

Back

deferment

Front

postponement

Back

accrual date

Front

means each March 23, June 23, September 23 and December 23 ending on December 23, 2013. ... The Accrual Date is relevant for purposes of adjusting the Account for deemed investment experience hereunder.

Back

promissory note

Front

a written contract with a promise to pay a supplier a specific sum of money at a definite time

Back

Capitalization of loans

Front

the addition of unpaid interest to the principal balance of your loan. The principal balance of a loan increases when payments are postponed during periods of deferment or forbearance and unpaid interest is capitalized.

Back

disbursement

Front

payment

Back

Stafford Loan

Front

A federal loan that is either subsidized or unsubsidized

Back

default

Front

failure to pay back a loan

Back

Direct PLUS Loan

Front

A loan made by the U.S. Department of Education to graduate or professional students and parents of dependent undergraduate students for which the borrower is fully responsible for paying the interest regardless of the loan status.

Back

SAR (Student Aid Report)

Front

This will report the information from your application as well as your scholarship, grant, loan, or work.

Back

Subsidized Loan

Front

A need-based loan from the federal government, the interest of which is paid for by the U.S. Department of Education while the borrower is in school and during grace and deferment periods.

Back

forebearance

Front

patience

Back