Grants are available through the federal government, state agencies and colleges. An institution that currently owns education loans. A fee charged by guarantee agencies, which is deducted from loan proceeds and used to insure against defaulted loans. An amount, calculated as a percent of the principal loan amount, that is charged for borrowed money. An institution that provides money for loans.
Most lenders are financial institutions, but some are state agencies, and colleges make loans, too.
Aid awarded based on accomplishments such as academic performance. Technique used to determine a student's need for financial assistance for college expenses. See Federal PLUS loans. Amount parents can be expected to contribute each year to the cost of their student's education as determined by the Federal Methodology. Contract between a borrower and the lender that includes all terms and conditions under which the loan will be repaid.