|
pnc.com
Woonplaats: | 1 | Upvotes received | 0 |
Downvotes received | 0 |
Karma: | 0 (upvotes-downvotes) |
|
0 earned Badges No badges were found
Definitions (90)
1 |
0
0
academic year
The period of time each year when the school is open and people are studying - either semesters or quarters. These vary school by school, and even by educational program at the same school.
Meaning awaits approval from a moderator |
2 |
0
0
accrued interest
The amount of money to be repaid on a loan in addition to the original principal amount borrowed.
Meaning awaits approval from a moderator |
3 |
0
0
aggregate limit
The maximum amount a student can borrow under a certain loan program during all their years in school.
Meaning awaits approval from a moderator |
4 |
0
0
amortization
A gradual reduction of a loan debt through periodic installment payments of principal and interest.
Meaning awaits approval from a moderator |
5 |
0
0
annual limit
The maximum amount a student can borrow from a certain loan program in a given academic year. (Once the maximum annual limit is met, the student cannot borrow any more funds for that academic year).
Meaning awaits approval from a moderator |
6 |
0
0
annual percentage rate
The yearly cost of the loan to the borrower. It reflects all finance charges, and may include interest, a guarantee fee and an origination fee.
Meaning awaits approval from a moderator |
7 |
0
0
application and solicitation disclosure
Disclosure provided with an application or solicitation which contains information about the interest rate, fees, repayment terms, cost estimates, Federal loan alternatives, eligibility criteria and other key information about the private education loan.
Meaning awaits approval from a moderator |
8 |
0
0
approval disclosure
Disclosure, provided at the time of approval, which contains the specific terms such as the interest rate, fees, repayment terms, cost estimates, Federal loan alternatives and other key information about the private education loan. The disclosure explains the steps the borrower must take to accept the terms of the loan. The consumer has 30 calendar [..]
Meaning awaits approval from a moderator |
9 |
0
0
assets
Things that make up your (or your family's) financial worth - valuable possessions that can be used to pay back your loan. This can include real estate, stocks, bonds, cash savings and college savings plans.
Meaning awaits approval from a moderator |
10 |
0
0
award letter
A letter notifying you of the types and amounts of aid being offered by the college you applied to, as well as your responsibilities for the money and the “fine print” (terms and conditions) of each award. It may also be called a financial aid package or a school aid package.
Meaning awaits approval from a moderator |
To view all 90 definitions, please sign in.