The day interest charges on an educational loan begin to accrue.

A loan program that allows a borrower to combine various educational loans into one new loan. By extending the repayment period (up to 30 years depending on the loan amount) and allowing a single mont [..]

The total amount it should cost a student to go to school--usually expressed as a yearly figure. The cost of education covers tuition and fees, on-campus room and board (or a housing and food allowanc [..]

An authorized period of time during which a borrower may postpone principal and interest payments. Deferments are available while borrowers are in school at least half time, enrolled in a graduate fel [..]

The release of loan funds to the school for delivery to the borrower. Disbursements for most loans are made in equal multiple installments, and made co-payable to the borrower and the school.

A representative of the Financial Aid and Scholarships Office that reviews a student's application and awards aid or otherwise is involved in the financial aid process.

The total financial aid a student receives. Federal and non-federal aid such as grants, loans, work study, and scholarships are combined in a "package" to help meet the student's need.

An authorized period of time during which the lender agrees to temporarily postpone a borrower's principal repayment obligation. Interest continues to accrue and usually must be paid during the f [..]

An insurance premium deducted from the borrower's loan proceeds prior to disbursement and paid to the guaranty agency that insures the loan. By law the fee cannot exceed 3% of the loan amount.

A fee charged for the use of borrowed money. Interest is calculated as a percentage of the principal loan amount. The rate may be constant throughout the life of the loan (fixed rate) or it may change [..]