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Loan
Verification Certificate (LVC)- A Loan Verification
Certificate is completed by your student loan holders to verify
the payoff balance on your loans.
Disclosure- A notification of the actual cost and terms of a loan,
including the interest rate, principal balance, monthly payment, etc.
Gross Monthly Income- Your income from your employment and other
sources, before taxes and other deductions.
Indebtedness- The amount of money that you owe to others.
Interest- The fee charged to borrow money over time. Interest is generally
disclosed and computed as an annual percentage of the principal amount owed.
Promissory Note- This is a legally binding agreement the borrower signs
to obtain a loan and in which the borrower promises to repay the loan, with interest. The note includes all the terms
and conditions of the loan. Keep your copy in your permanent files.
Repayment Period- This is
the period of time during which you repay the money
borrowed plus interest.
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Let us keep you informed along the way!
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Find out just how
much you can save.
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