Sentences with phrase «interest forgiveness»
"Interest forgiveness" refers to the act of forgiving or canceling the amount of money that would have been charged as interest. It means that a person or entity does not have to pay the additional money that would have been added to their original loan or debt. Full definition
Although the interest free part of subsidized student loans save college students thousands of dollars, interest forgiveness only happens during the first three years of college student loan payments.
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Iman's lump sum payment strategy for the OSAP loan only makes sense providing she continues to receive interest forgiveness.
While interest forgiveness is in effect, a borrower's entire payment is applied to principal, reducing the monthly payment amount during 48 months of repayment and lowering the total finance charges the borrower pays over the life of the loan.
Iron Hound arranged interest forgiveness, interest deferral, waiver of prepayment penalties and preferred return for new equity on the assets.
Interest forgiveness is a subsidy provided by the government.
The ECTP teacher loan provides $ 7,500 to $ 15,000 for down payment that has an interest forgiveness feature when employed at the school for at least three years.
The silent second used for this program is better than any other around since it has an interest forgiveness period if the borrower occupies the home for 20 + years.