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<strong>Partial cancellation</strong> – Pre-disbursement cancellation of a portion of a loan or disbursement rather than a full cancellation of an entire loan. May also be referred to as a disbursement amount change and is defined within CommonLine file specifications' @1-09 record. (Note: the post-disbursement version of this transaction is defined within the @1-10 record.)
<strong>Application</strong> – 1) The paper form or the information provided online/electronically to initiate a FFEL Program loan. Electronic versions of the application include MODEL Direct, CommonLine application send files, etc. 2) An eligibility determination for the state student assistance programs administered by the MDHE.
alienated work (J2)<br />Wage labour; work which is subject to the will of another. This kind of work is a non-fulfilling means to an end, often because it is work performed out of personal economic necessity. SMITH's notion of labour as 'toil and trouble' explains much of alienation. As professional jobs are often deeply satisfying they rarely involve alienation.
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near rationality (DO)<br />The tendency to take a decision differing f rom an optimal decision by the amount because of iner tia, adjustment, menu costs or errors in implementation.<br /><em>Reference</em><br />Akerlof, G. and Yellen, J. (1985) 'Can small deviations from rationality make significant differences in economic equilibria?', American Economic Review 75: 708-20.
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