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A postponement of payment on an education loan that is allowed under certain conditions.

A situation that can occur in loan repayment if the fixed repayment amount is less than the interest accruing each month.

A federal loan that combines several types of federal student loans into one loan with one monthly payment.

A loan repayment plan with lower payments at first, increasing about every two years.

WebSIS is MIT’s secure online system that allows enrolled students to view their academic, financial, and biographical records.

A division of College Board, which is a national nonprofit association that offers services in the areas of college admissions, assessment, guidance, financial aid, and enrollment. The CSS provides the financial aid

Special repayment features offered at the discretion of the lender. Some education loan programs have loan repayment options either to make payment more convenient and less expensive and/or to reward timely payment.

A loan repayment plan with the monthly payment adjusted each year based on the borrower’s (and spouse’s) annual income.

Financial aid that is offered based on a student’s academic, athletic or artistic merit, or some other criteria, and does not depend on financial need.

A rate that reflects the total cost of borrowing money over the life of the loan, considering not only the interest rate but also the effect of other loan fees.

The Massachusetts Employee’s Withholding Exemption Certificate, which allows employees to exempt themselves from having Massachusetts state tax withheld from their paychecks based on certain criteria.