Direct Loan definition

Direct Loan means any loan made by Canada under section 6.1 of the CSFAA on or after August 1, 2000.

Direct Loan means motor vehicle promissory notes and security agreements executed by an Obligor in favor of a motor vehicle lender.

Direct Loan means a disbursement of funds by the Government to a non- federal borrower under a contract that requires the repayment of such funds.

Examples of Direct Loan in a sentence

• For example, a first-time, first-year undergraduate student that has not completed the first 30 days of their program before withdrawing, will not receive any Direct Loan funds, even though the funds were scheduled to be received had the student remained enrolled past the 30th day.

• If there is additional money to be refunded from federal funds after calculating the Return of Title IV formula and the refund policy, the refund will be made to the student or, with the student’s authorization, to the federal loan program(s) in the following order, up to the amount received for the term of withdrawal: Unsubsidized Direct Loan, Subsidized Direct Loan, Xxxxxxx Loan, PLUS Loan and Alternative Loan.

• If a student who has received Title IV, HEA program assistance is owed a refund, the school will allocate the refund in the following order: Federal Direct Loan Program, Federal Parent Loan for Undergraduate Study (PLUS), Federal Pell Grant, any other Title IV Assistance, to student.

• If there is an additional credit balance made up of non-Title IV funds, it will be refunded in the following order, up to the amount received for the term of withdrawal: Unsubsidized Direct Loan, Subsidized Direct Loan, Xxxxxxx Loan, PLUS Loan, Alternative Loan, other loans, other aid (if required), and student.

• Pursuant to Federal Rule of Civil Procedure 23(b)(2), the Court has certified a 18 plaintiff class consisting of all people who borrowed a Direct Loan or FFEL loan 19 to pay for a program of higher education, who have asserted a borrower defense to 20 repayment to the Department, whose borrower defense has not been granted or 21 denied on the merits, and who is not a class member in Xxxxxxxx Xxxxxxxxx v.

More Definitions of Direct Loan

Direct Loan means a disbursement of funds by the Government to a non-Federal borrower under a contract that requires repayment of such funds with or without interest. The term includes: • The purchase of, or participation in, a loan made by another lender;• Financing arrangements that defer payment for more than 90 days, including the sale of a Government asset on credit terms; and• Loans financed by the Federal Financing Bank (FFB) pursuant to agency loan guarantee authority. The term does not include the acquisition of federally-guaranteed loans in satisfaction of default or other guarantee claims or the price support loans of the Commodity Credit Corporation. Pre–1992 loans made by the FFB on behalf of any agency continue to be recorded as direct loans of the agency. Agency guarantees of post–1991 loans that are financed by the FFB are treated as direct loans in the budget, but the intrabudgetary cash flows reflect elements of direct loans and loan guarantees insofar as the direct loan financing account for these loans will collect and hold the subsidy payment from the program account as a reserve to cover losses. This balance, together with interest earnings, will be available to pay the FFB in the event of default by the non-Federal borrower. All other intragovernmental transactions, including financing account interest income and expense, are treated as any other direct loan. Agencies with programs financed by the FFB should consult with the OMB representative with primary responsibility for the program to ensure correct treatment of these loans.

Direct Loan means the lending of a book or other item directly to a borrower.

Direct Loan means a loan made under this program that is not part of a co-financing arrangement with another lender.

Direct Loan means any loan made by New Brunswick under section 15(1) of the PSFAA, on or after August 1, 2000.

Direct Loan when used in the Part-Time-MSFAA-Canada, means any full-time or part-time direct loan made by Canada under the CSFAA on or after August 1, 2000.

Direct Loan means any student loan made under the William D. Ford Federal Direct Loan Program, authorized under Title IV of the Higher Education Act, as amended (20 U.S.C. § 1070, et seq.).

Direct Loan means a loan made directly by a Series SPV or a Loan Originator to a borrower that is a Person.