Page 97 - Book8E

GLOSSARY
Glossary
Accreditation: A school meets certain minimum academic standards, as defined by an accrediting body.
AmeriCorps: This program provides full-time educational awards in return for community service work.
Annual Percentage Rate (APR): A measure of the cost of credit, expressed as a yearly rate.
Attorney General: Chief law officer of a state who represents the government in lawsuits and serves as its principal legal adviser.
Award Letter: An award letter from a school states the type and amount of financial aid the school is willing to provide if a student accepts admission and registers to take classes at that school.
Bankruptcy: A legally declared inability or impairment of ability of an individual to pay his or her creditors.
Better Business Bureau: Provides reports on businesses and charities to help consumers and donors make informed decisions, helps resolve consumer complaints, and promotes ethics in business.
Bureau of Consumer Protection: Works for the consumer to prevent fraud, deception, and unfair business practices in the marketplace.
Chapter 7 Bankruptcy: A “liquidation” of an individual’s assets.
Chapter 13 Bankruptcy: An individual proposes a plan to repay his or her debts over a three-to-five year period.
Glossary
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