Application Fee Credit refers to a process where an individual or entity is given credit for payment of fees that have already been paid. This can occur in various situations, such as when applying for a job, enrolling in school, or joining a club. In these cases, the fee has typically already been paid by the applicant, but the institution offering the program will still give them credit for having done so.
For example, if someone applies to graduate school and has already paid an application fee when they applied previously, their previous payment may be counted as "application fee credit" towards their new application. This can save time and money for both the applicant and the institution, since the applicant does not have to pay another fee and the institution does not have to process another payment.
Overall, Application Fee Credit is a way of recognizing and honoring previous payments made by an individual or entity, in order to streamline processes and save time and resources for all involved.