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| Word |
Description |
| Scholarships |
Financial awards that do not usually have to be repaid; monetary aid typically given to students who demonstrate or showpromise of high achievement in areas such as academics, athletics, music, art or other disciplines.
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| Servicer |
An organization that acts on behalf of the lender to administer their student loan portfolio and is paid a fee to do so. |
| Student Aid Report (SAR) |
The form students receive (after filing a FAFSA application) that notifies them of their eligibility for Federal student aid. |
| Subsidized Loan |
Loans for which the Federal Government pays the accrued interest during any approved deferment periods.
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