Duke University
Financial Aid -- Making Your Duke Education Affordable
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Glossary of Financial Aid Terms

"L" Terms

Lender
A financial institution, such as a bank, a state agency,, a savings and loan association, a credit union, or a qualified program that makes FFELP and/or private loans.
Loan Repayment Options
Special repayment features offered at the discretion of the lender and other holder of student loans. Some are designed to reward timely payment, such as the Sallie Mae-sponsored "Great Rewards" Program. Other programs are designed to make payment both more convenient and less expensive, such as the Sallie Mae-sponsored "Direct Repay" program.
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