C3L3 Student Loans

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federal loan

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a loan funded and made available by the federal government (for student aid)

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private loan

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a loan issued by a bank, credit union, a school, or state agency (for student aid)

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defer

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to put off to a later time; postpone

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accrue

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to build up over time; accumulate

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interest capitalization

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adding accumulated interest to the principal of a loan at the beginning of the repayment period.