| General Education
Development Certificate (GED) |
A certificate
students receive in lieu of a diploma if they have passed
a specific approved high school equivalency test. |
| Gift Aid |
Financial aid, such as grants
and scholarships, which does not need to be repaid. |
| Grace Period |
Specified period of time between
the date a student graduates or drops below half-time status
and the date loan repayment begins. |
| Grade Point Average (GPA) |
An average of a student's
grades, where the grades have been converted to a 4.0 scale
- with 4.0 being an A, 3.0 being a B, and 2.0 being a C.
|
| Graduate Student |
A student in a postsecondary
institution who is enrolled in a master's or higher level
degree program. |
| Graduated Repayment |
A repayment schedule where
the monthly payments are smaller at the start of the repayment
period and become larger later on. |
| Grants |
Financial aid awards that
do not have to be repaid. Grants are available through the
federal government, state agencies and colleges. |
| Great Returns |
A Sallie Mae program that
rewards highly indebted Stafford borrowers who pay on time
with a credit to their account. |
| Great Rewards |
Enables eligible borrowers
who pay on time to receive an interest rate reduction for
the remaining term of their loans. |
| Gross Income |
income before taxes, deductions,
and allowances have been subtracted. |
| Guarantor or Guarantee Agency
|
State agency or private non-profit
institution that insures student loans for lenders and helps
administer the FFELP. |
