Undergraduate Students

A student who is enrolled in a Bachelors degree program.

Variable Interest

In a variable-interest loan, the interest rate changes periodically. For example, the interest rate might be pegged to the cost of the Prime Lending Rate (PLR) and be updated monthly, quarterly, half-yearly or annually.

Verification

Verification is a review process in which the financial institution determines the accuracy of the information provided on the student's financial aid application.