Glossary
There are 284 entries in this glossary.All
| Term | Definition |
|---|---|
| Grace Period |
Specified period of time between the date a student graduates or drops below half-time status. After the grace period is completed a date is determined to start repayment of your loan(s). If borrowers return to school after the grace periods has expired, the borrowers' loans qualify for deferment while borrowers are enrolled but return to repayment after borrowers leave school. There is no additional grace period. |
| Graduated Repayment |
A schedule where the monthly payments are smaller at the start of the repayment period and gradually become larger. |
| Guarantee |
A guarantee is an agreement to purchase title to a loan in the event that the borrower defaults on his or her obligation to repay the debt. |
| Guaranty Agency |
A state agency or private, nonprofit institution or organization that administers the financial aid programs within the Federal Family Education Loan (FFEL) Program. One major function is to insure Federal Family Education Loans. |
| Halftime |
The school determines your half-time enrollment status. Please check with your registrar’s office to verify criteria for half-time enrollment. A student must attend school at least halftime to qualify for financial aid through FFELP or loans. |