The phrase "loan balance" refers to the amount of money that still needs to be paid back on a loan. It is the remaining debt that needs to be cleared after making previous loan payments. Full definition
A minimum existing student loan balance of $ 5,000 is necessary in order to refinance with either company. (lendedu.com)
Because the loan is larger, we then expect the profits to be higher as percent of loan balance or even property value. (biggerpockets.com)
It's important to note that if you were to die unexpectedly, any outstanding loan balance remaining on your whole life policy may be deducted from your death benefit and will accrue interest. (protective.com)