Glossary of Student Loan Related Terms

TA

Teaching Assistantship

Teaching Assistantship (TA)

A form of financial aid awarded to graduate students to help support their education. Teaching assistantships usually provide the graduate student with a waiver of all or part of tuition, plus a small stipend for living expenses. As the name implies, a TA is required to perform teaching-related duties.

TERI

The Education Resources Institute is a private, nonprofit institution. All NextStudent Private Loans are guaranteed by The Education Resources Institute.

TERI-Approved

Educational institutions that have met the guidelines for participating in lending and informational programs offered through The Education Resources Institute.

Term

The number of years (or months) during which the loan is to be repaid.

Term of a Loan

The length of time allowed for repayment.

Test Of English as a Foreign Language (TOEFL)

Most colleges and universities require international students to take the TOEFL as part of their application for admission. The TOEFL evaluates a student's ability to communicate in and understand English.

Texas Guaranteed Student Loan Corporation (TGSLC)

A guarantor of federal loans in Texas.

The Education Resources Institute (TERI)

A private guarantor of private educational loans.

Title IV Loans

Title IV of the Higher Education Act of 1965 created several education loan programs which are collectedly referred to as the Federal Family Education Loan Program (FFELP). These loans, also called Title IV Loans, are the Federal Stafford Loans (Subsidized and Unsubsidized), Federal PLUS Loans and Federal Consolidation Loans.

Title IV Programs

Programs created by Title IV of the Higher Education Act of 1965 (as amended), including Federal Pell Grants, Federal Supplemental Educational Opportunity Grants (FSEOGs), Federal Work-Study, Federal Perkins Loans, Federal Stafford Loans, Federal PLUS Loans, Direct Stafford Loans, and Direct PLUS Loans.

Title IV School Code

When you fill out the FAFSA you need to supply the title IV Code for each school to which you are applying. This code is a six-character identifier that begins with one of the following letters: O, G, B or E. 

TOEFL

Test Of English as a Foreign Language

Treasury Bill

Treasury bills (or T-bills) are marketable securities the U.S. government sells in order to pay off maturing debt and raise the cash needed to run the federal government. They are short-term obligations issued with a term of one year or less. The U.S. Treasury Department sells Treasury bills at auctions held throughout the year. For federal student loans, the variable interest rate is based on the bond equivalent rate of the 91-day T-bills auctioned at the final auction prior to June 1 each year.

Treasury Bill Rate (T-bill Rate)

The rate paid by the government on its short-term borrowing. The rate is reset periodically. Treasury Bill rates are indexes used by variable-rate loan programs.

Tuition

The enrollment fee charged by an institution.