Glossary of Student Loan Related Terms

RA

Research Assistantship

Reaching School

A school that the student would love to attend, but which isn't "guaranteed" to admit them. Every student should apply to at least one reaching school.

Recommended Disbursement Amount

The particular disbursement amount(s) requested by the school to accompany each disbursement date. If the school does not indicate preferred disbursement amounts, the lender or guarantor will calculate approximately equal segments of the loan proceeds for each designated date.

Recommended Disbursement Date

The particular disbursement date(s) requested by the school. If the school does not indicate preferred disbursement dates, the lender or guarantor will calculate them according to regulations.

Release

School has released funds for disbursement.

Renewable Scholarships

A scholarship that is awarded for more than one year. Usually the student must maintain certain academic standards to be eligible for subsequent years of the award. Some renewable scholarships will require the student to reapply for the scholarship each year; others will just require a report on the student's progress to a degree.

Repayment Period

The period during which interest accrues on the loan and principal payments are required. For FFELP loans, the repayment period excludes any period of authorized deferment or forbearance; however, interest will continue to accrue during these periods for unsubsidized Stafford, SLS, and PLUS loans.

Repayment Schedule

the repayment schedule discloses the monthly payment, interest rate, total repayment obligation, payment due dates, and the term of the loan.

Repayment Term

The term of a loan is the period during which the borrower is required to make payments on his or her loans. When the payments are made monthly, the term is usually given as a number of payments or years.

Requested Loan Amount

The amount indicated on the application by the borrower.

Research Assistantship (RA)

A form of financial aid awarded to graduate students to help support their education. Research assistantships usually provide the graduate student with a waiver of all or part of their tuition, plus a small stipend for living expenses. As the name implies, an RA is required to perform research duties. Sometimes these duties are strongly tied to the student's eventual thesis topic.

Residency and Relocation Allowance

In the final year of medical or dental school, the student has the option to borrow from Nellie Mae an additional $5,000 above the private annual loan and cumulative debt limits.

Rhode Island Higher Education Assistance Authority (RIHEAA)

A guarantor of federal loans in Rhode Island.

Rights and Responsibilities

A list of borrower's rights and responsibilities which must be read and understood at the time of disbursement of the loan. The Borrower's Rights and Responsibilities appear on the reverse side of the original note.

Role

The position of the person associated with a loan. Roles include borrower, student and co-borrower.

ROTC

Reserve Officer Training Corps