Financial Aid, A to Z.
Found a word your’re not sure about? Here’s a list of some terms you might come
across along the way.
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Independent Student
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An independent student is one of the following: at least 24 years old, married, a graduate or professional student, a veteran, a member of the armed forces, an orphan, a ward of the court or someone with legal dependents other than a spouse. |
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Interest
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A loan expense charged by the lender and paid by the borrower for the use of borrowed money. The expense is calculated as a percentage of the unpaid principal amount (loan amount) borrowed. |