Loans Archives

What is graduated repayment?

May 11th, 2011 by Cara

Monthly payments gradually increase, usually every two years – hopefully along with your income.

What does it mean to be in forbearance?

May 11th, 2011 by Cara

Temporarily stop loan payments because of financial hardship.

What does loan consolidation mean?

May 11th, 2011 by Cara

Loan consolidation means combining outstanding loans into a single loan with one monthly payment. You will have more time to payoff debt, but in all likelihood, the total cost will be higher.

What is a Master Promissory Note?

May 11th, 2011 by Cara

A Master Promissory Note (MPN) is a legally binding contract you sign, agreeing to repay the loan money you borrowed.

What is a lender?

May 11th, 2011 by Cara

The bank, credit union, or other financial institution that provides funding for your loan.

What is a grace period?

May 11th, 2011 by Cara

A specified period of time (for student loans generally six months after you graduate, drop below 6 units, or leave college). You are not required to make payments during your approved grace period.

What is deferment?

May 11th, 2011 by Cara

A period of time when a borrower may suspend loan payments under specific conditions. Extensions granted for special circumstances.

What is default?

May 11th, 2011 by Cara

Failure to repay your loan in a timely manner, or in accordance of the terns of your Promissory Note.

What is Capitalization of Interest?

May 11th, 2011 by Cara

Unpaid accrued interest is added to the principal of your loan.

What is accrued interest?

May 11th, 2011 by Cara

Interest that accumulates on the unpaid balance of your outstanding loan principal.

Featured in Plymouth Magazine

Example Image

Arts: Digital Repository Puts PSU’s History and Culture at Your Fingertips

Where can you get a close look at a photo of Babe Ruth standing in front of the Draper and Maynard Building, peruse a 1905 copy of Plymouth Normal School’s literary magazine The Prospect, and examine an aerial view of Plymouth State’s campus in 1960? Thanks to PSU’s digital repository, these historical treasures—along with 15,000 […]

Example Image

Ut Prosim: Burton for Certain

Ray Burton ’62 lived all his years in the North Country of New Hampshire. Few elected officials have ever understood the lifestyle and character of their constituents as well as he did or have known so many of them by name. On December 14, 2013, hundreds of Burton’s fellow citizens joined dozens of past and […]

Example Image

Beyond Granite: The Museum of the White Mountains Takes on STEM

As American students and workers fall behind their counterparts around the world in the science and technology fields, educators and policy makers have stressed the importance of strengthening our attention to STEM—science, technology, engineering, and mathematics. Exhibition curator Sarah Garlick writes about the connections between earth science, adventure, and the process of learning STEM in […]