basic Student loans

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Across
  1. 3. originally were disbursed as FFELP loans and serviced the same as other federal loans
  2. 4. is the amount of money borrowed by the student
  3. 9. The borrower is responsible for paying all interest to the lender from the moment the loan is originated until it is paid in full.
  4. 10. must be completed by a student/parent once they take out a Direct Loan for the first time
  5. 12. of a loan is the day the borrower’s payment is due on each month
  6. 14. Federal government pays the interest on the loan during in-school status, grace, and deferment.
  7. 16. electronic system Nelnet uses to store documents for borrowers
  8. 17. refers to the process of paying back a student loan on a fixed payment schedule
  9. 20. is available to an eligible parent of a dependent undergraduate student attending a participating post-secondary school.
  10. 21. are loans taken out through the student’s school direct
  11. 22. For Customers willing but unable to make payments and who do not qualify for a deferments.
Down
  1. 1. is operated by the U.S. Department of Housing and Urban Development (HUD) and is used to determine if a loan applicant has any federal debt that is currently in default or foreclosure or has had a claim paid by the reporting agency within the last three years.
  2. 2. is what happens when any/all outstanding interest is added to the principal balance
  3. 5. A _____ is the release of loan funds to the school
  4. 6. After the student leaves school or drops to less than half-time enrollment
  5. 7. Loans became available to graduate student in 2006
  6. 8. the number of months the student borrower has to pay off the loan balance
  7. 11. are for students taking classes to prepare for a career in teaching
  8. 13. is experiencing financial hardship, goes back to school, is unemployed, or is on active duty military service, postponing payments with a deferment may be the right option for the customer
  9. 15. are available to customers who want to combine their outstanding education loans into a single loan with a single monthly payment
  10. 18. program loans were for eligible graduate students in schools of medicine, osteopathy, dentistry, veterinary medicine, optometry, podiatry, public health, pharmacy, chiropractic, health administration, or clinical psychology.
  11. 19. is the income earned by the lender for loaning the money to the student