The agency that insures the guaranteed education loans made by lenders. The Guarantor can sometimes help on your behalf if you have problems that can not be resolved by your lender or servicer. The bank, savings and loan, credit union, or other approved entity from which you obtained your education loan. If you have a Perkins Loan, the school could be considered your lender. The date upon which a promissory note becomes due and payable.
Principal is the face value of the loan or the amount borrowed upon which interest is charged.
The principal balance is the amount remaining after subtracting the payments made against the original principal. The company that handles all the billing, record keeping and paperwork on your education loans on behalf of the lender or holder of the loan.