Tagged with financial aid terms in our Blog
Academic Year- a time period of at least 30 weeks of class time. During this time a student is expected to complete at least 24 semester or trimester hours or a minimum of 36 quarter hours. Borrower- Person who receives a loan. Consolidation- a loan program were a borrower can combine various educational loans into one loan. This is done by extending the repayment period and making a single monthly payment. This can be a time period up to 30 years and can make the repayment process easier for borrowers. Deferment- a time period in which a borrower may postpone… Read more here!