Alternative Loan definition

Alternative Loan. Any educational loan made or purchased by ISAC other than a loan made pursuant to Title IV of the Higher Education Act of 1965, as amended (20 USC 1071 et seq.), or any other federal statute providing for federal insurance of education loans to borrowers.
Sample 1Sample 2Sample 3
Alternative Loan means a Student Loan which is not made pursuant to the Higher Education Act, but which may be (but is not required to be) guaranteed by a third party.
Sample 1Sample 2Sample 3
Alternative Loan means an obligation acquired or to be acquired by the Corporation with funds made available pursuant to the General Resolution which represents advances of money made to or on behalf of a student evidenced by one or more promissory notes, the payment of principal of and interest on which is not insured by a Guaranty Agency nor reinsured by the Secretary under the Higher Education Act; provided, that such Alternative Loans may not be acquired within the Resolution while 2005 Bonds are Outstanding.
Sample 1

Examples of Alternative Loan in a sentence

  • For PCLP debentures issued while a PCLP CDC elected to participate in the Alternative Loan Loss Reserve Pilot Program (ALLR) authorized under Section 508(c)(7) of the Small Business Investment Act of 1958, the PLCP CDC is required to reimburse SBA for 15 percent of any loss sustained by SBA as a result of a default in the payment of principal or interest on those PCLP debentures.

  • Section 2721.40 Institutional Procedures a) Institutions must have executed Program Participation Agreements with ED and with ISAC in order to participate in ISAC-administered Alternative Loan Programs.

  • Alternative Loan: Credit based Alternative/Private loans are an additional way to finance the costs of higher education when federal options are exhausted.

  • Loan activity related to loans financed by the Housing Investment and Housing Affordability Funds is recorded as part of the Alternative Loan Fund in the Bond Resolution.

  • Actual results could differ from those estimates.Related Party TransactionsThe Alternative Loan Fund in Residential Housing Finance continues to reflect outstanding advances made in fiscal year 1997 for the purpose of optionally redeeming bonds in Rental Housing.

  • See the comments under the heading “Net Assets Restricted by Covenant” in the notes to the financial statements of the Agency for additional information.The Agency also established an Alternative Loan Fund within the Bond Resolution.

  • In addition, funds in excess of the requirement for Pool 1 may be transferred from the General Reserve to the Alternative Loan Fund.

  • While away, you may need to assign a parent or other representative to sign legal documents or certain Alternative Loan checks on your behalf.

  • The Alternative Loan Fund is not pledged to the payment of the Bonds or any other specific debt obligations of the Agency and is generally available to pay any debt obligations of the Agency.

  • Administrative Fee Revenue Administrative fee revenue is to be used by the Program to insure loans and to cover costs incurred in the administration of the Alternative Loan Fund.


More Definitions of Alternative Loan

Alternative Loan means a Student Loan which is not made pursuant to the Act. An Alternative Loan may be, but need not be, guaranteed by a third party.
Sample 1Sample 2
Alternative Loan means a Student Loan, the payment of principal of and interest on which is not insured by a Guaranty Agency nor reinsured by the Secretary under the Higher Education Act with such loan being originated in accordance with the terms and provisions of the PAL Program Manual.
Sample 1
Alternative Loan means the Non-Guaranteed Alternative Loans and the Guaranteed Alternative Loans; provided, however, that the definition of "Alternative Loan" may be changed by the Issuer at any time upon satisfaction of the Rating Agency Confirmation Condition.
Sample 1
Alternative Loan means a loan made or to be made under a Facility in respect of the Fronted Portion of an Alternative L/C Utilisation or the principal amount outstanding for the time being of that loan.
Sample 1
Alternative Loan means Loans at the rate of interest reasonably determined by the Administrative Agent to be the cost of funds of representative participating members in the interbank Eurodollar market.
Sample 1

Related to Alternative Loan

  • Cooperative Loan Any Mortgage Loan secured by Cooperative Shares and a Proprietary Lease.

  • Cooperative Loans Any of the Mortgage Loans made in respect of a Cooperative Apartment, evidenced by a Mortgage Note and secured by (i) a Security Agreement, (ii) the related Cooperative Stock Certificate, (iii) an assignment of the Cooperative Lease, (iv) financing statements and (v) a stock power (or other similar instrument), and ancillary thereto, a recognition agreement between the Cooperative and the originator of the Cooperative Loan, each of which was transferred and assigned to the Trustee pursuant to Section 2.01 and are from time to time held as part of the Trust Fund.

  • Defective Loan is any Mortgage Loan as to which there is an unremedied Material Defect.

  • RFR Loan means a Loan that bears interest at a rate based on the Adjusted Daily Simple SOFR.

  • SOFR Loan means a Loan that bears interest at a rate based on Term SOFR, other than pursuant to clause (c) of the definition of “Alternate Base Rate”.

  • Competitive Loan means a Loan made pursuant to Section 2.04.

  • Funding Loan means the Funding Loan in the original maximum principal amount of $ made by Funding Lender to Governmental Lender under the Funding Loan Agreement, the proceeds of which are used by the Governmental Lender to make the Borrower Loan.

  • Replacement Loans has the meaning specified in Section 10.01.

  • Wet Loan means a wet-funded first or second lien Mortgage Loan which is underwritten in accordance with the Underwriting Guidelines and does not contain all the required Mortgage Loan Documents in the Mortgage File.

  • Collateral Loan means a Senior Secured Loan, a Senior Secured Bond, a First Lien/Last Out Loan or a Second Lien Loan or a Participation Interest in any Senior Secured Loan, First Lien/Last Out Loan or Second Lien Loan that as of the date of acquisition by the Borrower meets each of the following criteria:

  • Equipment Loan means middle market equipment loans that consist of loans made to obligors in the United States of America primarily secured by new or used transportation equipment and managed by the Equipment Finance reporting category of the Commercial Lending and Leasing division of GE Capital.

  • VA Loan means a Mortgage Loan which is subject of a VA Loan Guaranty Agreement as evidenced by a loan guaranty certificate, or a Mortgage Loan which is a vendor loan sold by the VA.

  • Discount Loan The Loans having Pass-Through Rates of less than 6.75%.

  • B/A Equivalent Loan has the meaning assigned to such term in Section 2.06(j).

  • New Loan means a Loan made by the Failed Bank after the Bid Valuation Date that is not a continuation, amendment, modification, renewal, extension, refinancing, restructuring or refunding of or for any then-existing Loan.

  • Tranche A Loan shall have the meaning set forth in Section 2.01(a).

  • Tranche C Loan has the meaning specified in Section 2.01(c).

  • Incremental Loan has the meaning set forth in Section 2.14(b).

  • Refinancing Mortgage Loan Any Mortgage Loan originated in connection with the refinancing of an existing mortgage loan.

  • Tranche B Loan has the meaning specified in Section 2.01(b).

  • Revolving Facility Loan means a Loan made by a Revolving Facility Lender pursuant to Section 2.01.

  • Initial Loan is defined in Section 2.1.

  • Outstanding Mortgage Loan As of any Due Date, a Mortgage Loan with a Stated Principal Balance greater than zero which was not the subject of a Principal Prepayment in Full prior to such Due Date and which did not become a Liquidated Mortgage Loan prior to such Due Date.

  • Eurodollar Competitive Loan means any Competitive Loan bearing interest at a rate determined by reference to the LIBO Rate in accordance with the provisions of Article II.