Student Loans aren’t the only way to acquire debit while attending college. Apparently, your college application doubles as a credit app. You are now on a mailing list sent to every creditor in the country and even some abroad.

Satisfactory Academic Progress: A policy determined by schools, in conjunction with federal guidelines and regulations. This policy sets the level of academic progress required of a student by the Higher Education Act of 1965, to receive or to continue receiving financial aid, including loans.

Secondary Market: Secondary markets buy student loans from lenders. When this transaction takes place, the secondary market becomes the holder of the loan instead of the original lender. The holder of the loan owns the right and title of the promissory note until the loan has been paid in full. One reason lenders choose to sell their loans is to free up funds to make additional student loans.

Original Loan Amount: An information field on the Loan Detail screen of PPSLC's Online Account Access. This field shows the loan amount that was originally guaranteed by our guarantor (Texas Guaranteed Student Loan Corporation).

Origination Fee: A fee deducted from the principal loan before disbursement and paid to the federal government to offset the interest cost on Subsidized Stafford loans. PLUS loan borrowers are charged a 3% origination fee.

PLUS Loan: A PLUS loan is a federally insured loan which parents borrow on the behalf of a dependent (can still be deducted on taxes) undergraduate students.
The PLUS loan is not based on need. The applicant must be determined creditworthy based on Federal regulations and/or lender criteria.