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Glossary of Terms   Black Line

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

 
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Borrower Anyone who obtains funds from a lender through an extension of credit for a period of time is considered a borrower, and is legally responsible for the repayment of a loan. (Also see Applicant)
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Borrower Authorization Statement The borrower's written authorization for the release of the initial and any subsequent disbursement of FFEL program loan proceeds disbursed on behalf of the borrower by electronic funds transfer (EFT) or master check to an account of the school.
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Budget The estimated cost of attendance for an institution including direct (tuition, fees) and indirect (transportation, books and supplies, room and board, and other expenses) costs.
 
 
 
 
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