202 Student Loans

  • Academic Year

    This is the amount of the academic work you must complete each year, and the time period in which you are expected to complete it, as defined by your school.…

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  • Accrue

    To accumulate interest on a loan.

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  • Adjusted Gross Income (AGI)

    Gross income reduced by certain amounts. Gross income can include wages, salaries, interest, dividends, etc., minus certain deductions from income as reported on a federal income tax return. Deductions can…

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  • Aggregate Loan Limits

    A limit on the total amount of subsidized and/or unsubsidized loans that you may borrow for undergraduate and graduate study. If the total loan amount you receive over the course…

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  • Alien Registration Number

    The alien registration number or “A-number” is an identifying number that U.S. Citizenship and Immigration Services (USCIS) assign to certain non-citizens. A-numbers may consist of 8 or 9 digits. The…

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  • Alternative Loan

    An alternative loan or private loan can be used to cover the gap between the cost of college and the amount of financial aid received in the form of grants, scholarships,…

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  • Annual Loan Limit

    The maximum federal student loan eligibility per academic year. These amounts vary by type of loan and grade level. Your school will tell you how much you are eligible to…

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  • Annual Percentage Rate (APR)

    Annual Percentage Rate is the cost of borrowing money on a yearly basis, reflected as a percentage rate. Its the measure of the cost of credit expressed as a yearly…

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  • Award Letter

    A letter from your school that details your federal, state, institutional and private student financial aid.

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  • Borrower

    A borrower is a person who has been approved to receive a loan and is then obligated to repay it and any additional interest or fees according to the loan…

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