by Student Loan Attorneys | Nov 4, 2012 | Glossary, Student Loans
Interest The cost of borrowing money, charged as a percentage (interest rate) of the outstanding (unpaid) principal balance.
by Student Loan Attorneys | Nov 4, 2012 | Glossary, Student Loans
Income-Based Repayment Income-Based Repayment (IBR) is one of several repayment plan options for borrowers of student loans made under the William D. Ford Federal Direct Loan (Direct Loan) Program or the Federal Family Education Loan (FFEL) Program. If you qualify for...
by Student Loan Attorneys | Nov 4, 2012 | Glossary
Gross Income Your total income before deductions.
by Student Loan Attorneys | Nov 4, 2012 | Glossary
Grace Period A period of time that generally begins on the day after a borrower graduates, leaves school, or drops below half-time enrollment and ends on the day before the repayment period begins. A borrower is not required to make payments during the grace period....
by Student Loan Attorneys | Nov 4, 2012 | Glossary
Student Loan Forbearance Allows you to temporarily stop making payments or reduce your federal student loans’ monthly payment. Interest will continue to be charged on your subsidized, unsubsidized and PLUS loans.
