Glossary
There are 284 entries in this glossary.R
| Term | Definition |
|---|---|
| Rehabilitation |
A process by which a borrower may bring a FFELP loan out of default be adhering to specified and detailed repayment requirements. |
| Repayment Schedule |
The legal addendum to the Promissory Note stating the terms of loan repayment and fulfilling disclosure requirements. The repayment schedule is a plan that indicates the total principal and the interest due, an installment amount and the number of installments required to the pay the loan in full. The schedule will include the interest rate for the loan(s), the due date of the first and subsequent installments and how often the installments need to be made. |
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