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 |
| |
| C |
| Campus-Based Programs |
The Federal Perkins Loan, Federal
Work-Study, and Federal Supplemental Educational Opportunity Grant
programs. These programs are administered by a school's financial
aid office. A student's financial aid package may contain aid
from one or more of these programs. |
 |
| Cancellation (of a Guarantee) |
The revocation of a federal loan guarantee
that occurs if:
- The loan funds are never disbursed;
- The borrower's check is returned uncashed to the lender within
120 days of disbursement;
- The loan proceeds disbursed by EFT or master check have not
been released from the school's restricted account within 120
days of disbursement;
- The loan is paid in full within 120 days of disbursement;
The guarantee is not lost on the entire loan if a disbursement
is canceled. |
|
| Cancelled Loan |
A status assigned to a loan that is
no longer being processed because the loan proceeds have been
returned to the lender. Partial cancellations can occur when a
portion of the loan proceeds are returned. |
|
| Capitalization |
An increase in the principal balance
of a loan that occurs when a lender adds the interest accrued
on the loan to the outstanding principal balance. The loan becomes
more expensive the more frequently accrued interest is capitalized. |
|
| Certification |
Generally, the act of attesting that
something is true or meets a certain standard. The financial aid
officer confirms for the lender and guarantor that a loan applicant
meets certain eligibility criteria, including student enrollment,
eligible financial aid amounts, etc. |
|
| Certified Loan Amount |
The
loan amount a financial aid officer
has confirmed that a student or
parent is eligible to borrow based
on the school's cost of attendance
and other financial aid already
received by the student. The amount
may be equal to or less than the
total cost of education less any
aid received. |
|
| Citizen/Eligible Non-citizen |
An eligibility requirement that must
be met by most loan borrowers and recipients. Borrower/student
must be a U.S. citizen or eligible non-citizen. Eligible non-citizens
include:
- U.S. permanent resident alien with an Alien Registration Receipt
Card Form I-151or I-551
- U.S. temporary resident who intends to become a citizen or
resident and who holds a Temporary Resident Card (I-688)
- Refugee with a Departure Record (I-94) from the U.S. Immigration
and Naturalization Service (INS)
|
|
| Co-signer
(or co-applicant) |
A signer of a promissory note who
is secondarily liable for a loan obligation. |
|
| College Foundation, Inc (CFI) |
An origination agent and servicer
of federal student loans in North Carolina. |
|
| Common Application |
A standardized application and promissory
note approved by the U.S. Department of Education by which a borrower
applies for a FFELP loan. Different application forms are required
for federal Stafford and federal PLUS loans. |
|
| Common Deferment Forms |
Standardized forms approved by the
U.S. Department of Education that must be used by borrowers requesting
deferments. |
|
| Connecticut Assistance for Loan
Servicing (CALS) |
A servicer of Connecticut guaranteed
federal loans. |
|
| Connecticut Student Loan Foundation
(CSLF) |
A guarantor of federal loans in Connecticut. |
|
| Consolidation Loan Program |
A federal loan program which enables
a borrower to combine two or more eligible loans into a new loan
so the borrower can make one monthly payment and, in some cases,
extend his/her repayment period thus lowering the monthly payment. |
|
| Cost of Attendance (COA) |
An estimate of the student's education
expenses for a specified period of enrollment. |
|
| Cost-Less-Aid |
A figure calculated by deducting all
financial assistance the student has been or will be awarded for
the loan period from the cost of attendance for the same period
of enrollment. |
|
| Credit History |
A record of an individual's past performance
of borrowing and repaying debts. |
|
| Cumulative Education Loan (Amount)
Debt |
The total loan amount disbursed to
a borrower throughout the student's academic career. This amount
must not exceed applicable total loan limits associated with a
particular loan program. |
 |
| |
|
|
Federal Consolidation Loan
