The ratio (states as a percentage) between the defaulted principal amount outstanding and the institution's matured loans. For the purpose of this definition, defaulted principal is the principal balance - amount borrowed minus principal paid or canceled -on loans in default for more than 120 days; a matured loan is the total principal amount of loans made by an institution under the program minus the principal amount of loans to borrowers that are either enrolled in a full-time course of study (or half-time for the nursing program) at the institution or in a grace period. Close
This is the interest rate that a credit account reverts to when the introductory period has run out of time or the minimum monthly payments are not made.
The interest rate that applies to a loan if payments are not made on time.
failure to meet debt payment on a due date. the rate a loan rolls/moves to automatically at the end of any fixed period.
the interest rate used when payments are not made or the facility goes above its limit.
An interest rate that a loan adjusts to at the end of a fixed period.
The rate a loan moves or rolls over to automatically at the end of any fixed period
This rate is a calculation of how a borrower is expected to behave in regards to their loan, i.e. are they high risk to loan. The default data is observed over an industry-standard 24-month period, which is then converted to an annualized average rate. While not exact, it does offer a close approximation of how a borrower will behave. The default rate is important for lenders to consider, because it helps them to estimate their potential return on their loans.
The default rate is the percentage of college students with federal student loans but failed to repay the loan.
The default rate is the percentage of students who took out federal student loans to help pay their expenses but did not repay them properly.
at the rate the loan rolls/moves to automatically at the end of any fixed period
The interest rate applying to a loan when either repayments are missed or the interest rate used or moved to automatically at the end of any fixed interest rate period.
the interest rate the creditor will charge once the borrower defaults on the loan. This rate is always higher than the contract interest rate.
