The amount reported on the Student Aid Report that the student's family is expected to pay toward the student's education. This amount is calculated by using a standard federal formula. It is based on the family's income, assets, size of family and number of family members in college. A rate that remains the same from the day the loan is issued through the last payment. Forbearance An agreement between borrower and lender to delay or reduce loan payments because of financial hardship.
Interest continues to build during forbearance.
All students applying for financial aid must file this comprehensive form, which requires information about you and your family's income, income taxes, assets and more. The period between the time the borrower leaves school and is obligated to begin repayment of a student loan. Graduated repayment A loan repayment plan that allows the borrower to make smaller payments in the beginning and higher payments later on. The state or nonprofit agency that insures student loans for lenders and administers the student loan insurance program for the federal government. Holder The institution that holds the title to the loan.