Matching Pairs Loan TermsOnline version Match the loan related terms with their definitions. by Stephanie Klocke 1 Principal 2 Grace Period 3 Interest 4 Deferment 5 Default 6 Forbearance 7 Borrower 8 Lender 9 Federal Loans 10 Delinquent 11 Private Loans Financial agreements made and funded by the government, based on eligibility criteria such as financial need Individual or institution providing funding that must be paid back A period when loan payments are suspended or reduced; interest may not accrue depending on eligibility An account where payment(s) are one or more days past due A set period of time after graduation, leaving school, or switching to part time status before repayment begins Amount of money borrowed Percentage of balance, calculated monthly, charged to the borrower An account where payment(s) are severely overdue, triggering severe consequences Financial agreements made and funded by banks or financial companies, often based on criteria such as credit score and income A period when loan payments are suspended or reduced; interest continues to accrue Individual requesting or receiving a loan
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