However, the borrower is responsible for making the interest payments on all types of loans. Guarantor is the guarantee agency that guarantees to the lender that a loan will be repaid if a borrower goes into default. Guarantee Fee is a fee that is placed into an insurance fund that protects the lender against any loan default and maintains the stability of the education loan program. It is deducted from your funds before the funds are disbursed. Interest is a fee charged to borrow money.
Lender is the source of providing the loan funds being borrowed.
If you have any questions of concerns about your loan, you would call the Servicer. Origination Fee is a fee charged by the government to offset interest payments. This fee is deducted from the dollar amount of your check before it is disbursed. Principle is the amount of a loan that was originally borrowed and must be repaid upon maturity. E-mail your Financial Aid Counselor .