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