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Student Loan Choices :: Glossary
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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.
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.