Resources at Your Fingertips: Helping You Explain Those “Student Loan Definitions”
Student loans…lots of nifty lingo behind those two words, huh? I recall presenting an exit session and hearing a student mumble, “Deferment… forbearance… all that student loan stuff sounds the same.” There are many key terms that are often misunderstood, or not fully comprehended, by borrowers.
Financial aid can be a confusing process for families. Your task of explaining it to students can be just as challenging. All of those acronyms and words used daily in our field may come across unclear to students. Nelnet Partner Solutions has put together a glossary of terms to help you educate students and explain the terminology behind student lending.
Student Loan Definitions can be found at the library on www.nelnetloanservicing.com. Just click on the Student Loan Definitions button and find a listing of key terms and definitions. You have an option to print this list or download a PDF version for your institution’s website and other needs.
Did we miss something? Feel free to provide feedback if there are related terms that you would like to see defined. As always, if you have an idea for a financial literacy tool, please let us know!