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 |
| |
| L |
| Late
Charges |
Charges
that the lender may require the
borrower to pay if the borrower
fails to pay all or a portion
of a required installment payment
within a certain number of days
after it is due. |
 |
| Legal
Guardian |
An
individual appointed by a court
to be the guardian of a person
and specifically required by the
court to use his or her financial
resources for the support of that
person. |
|
| LIBOR |
The London Interbank Offered
Rate. It the most widely used
benchmark or reference
rate for short term interest rates
globally. |
|
| Loan
Name (Loan Program Name) |
The
name of the actual federal or
private loan borrowed, such as
Federal Stafford Loan, Federal
PLUS Loan, or The PNC Solution Loan. |
|
| Loan
Origination |
All
of the steps required to initiate
a loan from the time of application
to final approval and disbursement. |
|
| Loan
Period |
A
period of time as defined by the
school for which the loan is requested
(i.e., September to May, January
to May). |
|
| Loan
Proceeds |
The
funds disbursed by a lender for
a borrower to a school, to an
agent or directly to the borrower
by issuance of a check, master
check, or by electronic funds
transfer. The loan proceeds disbursed
do not include the origination
and guarantee fees. |
|
| |
|
|
Federal Consolidation Loan
