- Debt to Income Ratio
- The percentage of a loan applicant's (monthly) income that is used to
meet debt obligations. Many alternative loan programs use this calculation
to determine an applicant's eligibility for a loan program.
- Default Rate
- The default rate is the percentage of college students with federal student loans but failed to repay the loan.
- Deferred Acceptance
- The admissions decision is being moved to a later date.
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- Deferred Admission
- A program that allows students to postpone enrollment — usually for
no more than one year — after admission to a college or university.
- Deferment
- A temporary period during which a borrower is not required to make
payments. Deferments are more common in Federal loan programs rather than
alternative loans. For Subsidized Stafford Loan borrowers (and Perkins
Loan borrowers), many deferments are subsidized, meaning the interest that
accrues on the loan during the deferment is paid by the federal government.
Some deferments are unsubsidized, meaning the interest that accrues must be
paid by the borrower.
- Degree
- The certificate or title awarded by a college or university to show
completion of a course of study. Colleges and universities sometimes give
honorary degrees to recognize outstanding achievement.
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- Department
- Usually a division which offers classes in a specific field within a
college. For example, a history department or an art department.
- Department of Education
- The federal agency that establishes financial aid programs and processes
financial aid applications.
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- Departmental Scholarship
- An award that is specifically designated for a recipient in a
particular academic department or educational program.
- Direct Costs
- Costs that the college or university directly bills to the student.
Tuition and fees are direct costs.
- Direct Loans
- The William D. Ford Federal Direct Loan Program (aka the Direct Loan
Program) is a federal program where the school becomes the lending agency
and manages the funds directly, with the federal government providing the
loan funds.
- Disbursement
- The process that makes financial aid funds available to students for use
in meeting educational and related living expense. Funds are applied
first to the student's tuition and fees account balances.
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- Double Major
- Available at most schools, the double major allows a student to complete all the requirements to simultaneously earn a major in two fields.
- Dual Enrollment
- This policy allows a student to earn college credit while still in high school. Many of these course credits can be transferred to a degree-granting institution, especially if the student maintains a minimum B average. A college, however, may disallow courses taken in the major field of concentration at another institution because its policy dictates that all courses in the major must be taken at the college. When considering dual enrollment, students should talk with admissions offices at the colleges they are considering enrolling in to make sure that they will accept credit transfers.
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