- Identity: A distinguishing character or personality of a consumer. Also, includes any unique information about a consumer such as a social security number.
- Independent student: A student who is either married, 24 years of age or older, enrolled in a graduate or professional education program, has legal dependents other than a spouse, is an orphan or ward of the court, or a veteran of the U.S. Armed forces.
- Lender: A financial institution, agency, or school that provides the money to make a loan to a borrower.
- Loan Disclosure Statement: A statement sent to a loan borrower by the lender before or at the time it disburses a loan, as well as before the start of the repayment period. The purpose of the disclosure is to provide the borrower with thorough and accurate information about the loan terms and the consequences of default.
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