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Definitions (112)
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student account
An exact record of a student’s financial transactions, including charges and credits; similar to a bank account. Charges include tuition, fees, housing, dining, TechCASH, the student extended insuranc [..]
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1098-t
An Internal Revenue Service (IRS) form that all educational institutions, such as MIT, are required to complete at the end of the calendar year for each enrolled student who was billed and/or paid tui [..]
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academic year
A period of time colleges and universities use to measure a quantity of study. The MIT Academic Calendar
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accrued interest
Interest that accumulates on the unpaid principal balance of a loan.
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adjusted gross income
An Internal Revenue Service (IRS) term referring to wages, salaries, interest, dividends, etc., minus certain deductions from income as reported on a federal income tax return.
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aggregate loan limit
The total amount of money that can be borrowed from a loan program over a student’s period of study.
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annual loan limit
The amount of money that can be borrowed from a loan program during one academic year.
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annual percentage rate
A rate that reflects the total cost of borrowing money over the life of the loan, considering not only the interest rate but also the effect of other loan fees.
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assets
When used as a financial term, assets mean tangible items of monetary value.
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