Sallie Mae Financial Glossary
What is it? See Student Loan Marketing.Finance Term Definition Added By: Patrick
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Financial Term Immediate Payment Annuity is An annuity purchased with one payment. Payments begin immediately.Financial Term Deferment (of loan) is A condition during which payments of principal are not required, and, for Federal Perkins and subsidized Federal Stafford and Direct Subsidized Loans, interest does not accrue. The repayment period is extended by the length of the deferment period.
Financial Term Total Disability is The inability to do your job or manage aspects of your normal day-to-day life.
Financial Term MRP (Maturity Risk Premium) is Risk associated with interest rate uncertainty. The longer the time to maturity, the higher the premium.
Financial Term Cash is Money or its equivalent (checks, banknotes, etc.).