NDSL definition
Examples of NDSL in a sentence
FSA Collections may discharge a ▇▇▇▇▇▇▇ Loan or NDSL made on or after January 1, 1986 if the borrower is unable to complete his or her program of study due to the closure of the school.
With the 1998 Amendments to the Higher Education Act, most of the remaining terms and conditions of an NDSL became the same as those of a ▇▇▇▇▇▇▇ Loan.
If the optional provision is included in the school’s note, a minimum monthly payment of $40 is required for a loan made on or after October 1, 1992, to a borrower who had no outstanding balance on a ▇▇▇▇▇▇▇ Loan, NDSL, or Defense Loan on the date the loan was made (for other borrowers, the monthly minimum amount remains $30).
You must discharge the remaining balance of any ▇▇▇▇▇▇▇ Loan, NDSL, or Defense Loan if the borrower dies or becomes totally and permanently disabled.
If a borrower has both Defense and NDSL or ▇▇▇▇▇▇▇ Loan from one or more schools and the total monthly repayment is less than $30 and the monthly repayment on a Defense Loan is less than $15, the amount applied to the Defense Loan may not ex- ceed $15.
If the optional provisions are included in the school’s note, a minimum monthly payment of $40 is required for a loan made on or after October 1, 1992 to a borrower who had no outstanding balance on a ▇▇▇▇▇▇▇ Loan, NDSL, or Defense Loan on the date the loan was made.
A borrower who is attending less than half time and who has no outstanding ▇▇▇▇▇▇▇ Loan or National Direct Student Loan (NDSL) must begin repaying a new loan nine months from the date the loan is made or nine months from the date the borrower ceases to be enrolled as a regular student on at least a half-time basis1, whichever is earlier.
Schools may not grant cancellation of a ▇▇▇▇▇▇▇ Loan or National Direct Student Loan (NDSL) to a borrower who has received a national service education award for volunteer service with Americorps (Subtitle D of Title I of the National and Community Service Act of 1990).
Because there are so few NDSL borrowers who are likely to be enrolled, the Department has determined that it is unnecessary to continue to issue separate NDSL promissory notes.
If I successfully rehabilitate my defaulted NDSL loan, I will again be subject to the terms and conditions and qualify for any remaining benefits and privileges of my original Promissory Note and the default will be removed from my credit history.