A student who is 24 or older, is an orphan or ward of the court, is a graduate or professional school student, a veteran, married or has legal dependents. Students who can document financial independence for the two previous years would also be classified as independent. This is the fee charged on certain student loans. It is deducted from the principal of the loan. A fee charged for the use of borrowed money.
Interest is calculated as a percentage of the principal loan amount.
The maximum amount a bank will allow a customer to borrow. Converting an asset quickly into cash. The date upon which the loan becomes due and payable. The income after all taxes have been deducted. The money available after expenses have been deducted.