| |
A |
B |
C |
D |
E |
F |
G |
H |
I |
L |
M |
N |
O |
P|
R |
S |
T |
U |
V |
W | |
|
|
|
Default: Failure to repay loans
according to the terms agreed upon in a promissory note. Default
may also result from failure to submit requests for deferment
or cancellation on time. Your Federal Stafford Loans are considered
in default at 270 days past due, and the consequences are severe.
If you default on your loan, your school, your loan holder,
the state and the federal government may take all necessary
steps to recover the money.
|
|
| Deferment: When a lender allows a borrower to postpone loan payments. A borrower must usually satisfy specific eligibility requirements for a loan deferment. If a loan is in default, the lender will not allow deferments. |
| |
|
|
| |
Delinquent: A loan becomes delinquent when payments are not made on time. When delinquency occurs, the lender can add late fees to the loan payments. |
| |
| Dependency : Status Whether or not the student is financially Dependent on his or her parents based on federal guidelines. All students are considered Dependents unless they are 24 years of age as of January 1, married, graduate or professional students, responsible for a legal Dependent other than a spouse, Veterans of the U.S. Armed Forces, or orphans or wards of the court (currently or formerly). |
| |
Dependent: Someone who depends on another for more than half of his or her financial support. |
| |
Direct Loans : Federal government funds loaned to students through institutions. This is referred to as the Direct Loan Program. If a student attends a school that participates in the Direct Loan Program, the student may not apply for federal loans through private lenders. |
| |
| Disbursement: When a student's federal loan funds are sent to the student. Loan payments are co-paid to both the student and the school. These funds cover educational costs (tuition, fees, etc.) and related living expenses. Any excess funds are released to the student or applied to the student's account. |
| |
Discharge: To discharge a loan is to release the borrower from his or her obligation to repay the loan. |
| |
| Doctorate: One of several degrees granted by graduate schools. |
| |
|
|
| |
| |
