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Student Financial Aid Glossary

Financial aid can be an alphabet soup of acronyms like FAFSA, SAR, SAP and EFC and technical terminology. It is almost like speaking a foreign language. This glossary defines the terms and acronyms that are most frequently used in student financial aid.

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Current Delinquency
A current delinquency is a recent delinquency, not a delinquency that occurs in the past. A current delinquency occurs when a borrower is past due on making a payment and has not yet cured the delinquency by making the late payment.