Loan Consolidation Forms

STUDENT LOAN CONSOLIDATION GLOSSARY

E

Education

The knowledge or skill obtained or developed by a learning process.

Educational institution

The imparting and acquiring of knowledge through teaching and learning, especially at a school or similar institution.

EFC (Expected Family Contribution)

The amount of financial support a family is expected to contribute toward a child’s college education. This amount is part of the formula used by the federal government to determine financial aid eligibility using the FAFSA form.

Electronic application

An online/web application.

Electronic payment

An online/web payment.

Eligible

Qualified: entitled or qualified to do, be, or get something.

Enrolment deadline

Time limit of the official act or process of entering your own or another person’s name on a register or membership list.

Enrolment admission

The state of being allowed to enter; the price required or paid for entering.

Expenses

Amounts paid for goods and services that may be currently tax deductible (as opposed to capital expenditures).

Extended repayment period

The time to pay back money, which is continued for a long period of time depending on the total amount borrowed.