Accrue
The process whereby interest accumulates on your loan. When we speak of "interest accruing on your loan," we mean that the interest due on your loan is accumulating.
Borrower
Individual who signed and agreed to the terms in the promissory note and is responsible for repaying a loan.
Cancellation
Some student loan programs allow for all or part of the total loan principal and accrued interest to be canceled in certain circumstances. A canceled loan may also be referred to as a "discharged loan."
The process whereby interest accumulates on your loan. When we speak of "interest accruing on your loan," we mean that the interest due on your loan is accumulating.
Borrower
Individual who signed and agreed to the terms in the promissory note and is responsible for repaying a loan.
Cancellation
Some student loan programs allow for all or part of the total loan principal and accrued interest to be canceled in certain circumstances. A canceled loan may also be referred to as a "discharged loan."
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