Definitions for "Minimum Monthly Payment"
If you owe money on your credit card, this is the smallest amount of money you can pay by the due date to meet the terms of the cardholder agreement.
The smallest payment you can make to keep your account current.
The minimum amount a borrower must pay each month on each separate loan and credit-card account. Sometimes abbreviated as "MMP." The amount of the minimum monthly payment is based on the total amount and the repayment term; on student's loans, the MMP is usually $50 a month per loan. Monetary Award/Prizes – Generally an amount less than $500 paid for the benefit of a student. Awards generally have not been established through written donor agreements with the university (Office of Univeristy Advancement).. Awards are often funded by departments through trust funds and include prizes (e.g., First Place Poetry Prize)