Document which states the terms and conditions of a loan, including the cost of the loan, interest rate, fees and repayment period.
A document that lists details of the repayment agreement: where, when, and what size installments will be owed, interest terms, types of credit insurance (and whether or not it is optional), and other items relevant to the loan.
A document provided by the institution providing a student or parent loan that outlines all details on the characteristics of the loan including interest rate and repayment plans. Individuals obtaining loans are required to sign a form stating they understand the terms of the loan before the funds are provided.
A document that shows the amount of a loan; where, when, and what repayments must be made; the interest rate; and the cost of borrowing that loan.
This statement is issued to a borrower by the lender when the loan is first disbursed and again when the borrower enters repayment. The initial disclosure statement gives such information as the principal amount of the loan, the amount of guaranty and insurance fees, and the interest rate. The repayment disclosure gives such information as the due date of the first installment and the number, amount, and frequency of payments. Back to glossary main page
Also called a Loan Repayment Statement, this statement is issued to a borrower by the lender when the borrower enters repayment. It gives information about the loan, including guarantee and insurance fees, and the interest rate.