Federal loans, what??

swimcatsmom
Mon, 02 Aug 2010 16:25:52 +0000

Term = how long you have to pay it back once repayment starts

Fee = fee - a charge for getting the loan. For instance if you borrow $1,000 and there is a 2.5% fee then you will be charged a fee of $25 on the $1000 loan so will actually only receive $975.

in school Deferment - means repayment of the loan is or can be deferred (put off) until you finish school.