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<strong>Proportional proration</strong> – A required calculation used to determine the applicable annual loan limit for an undergraduate student if the student' s program or remainder of the program is less than a full academic year in length.
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Islamic fiscal policy (H2)<br />The application of the principles of the Koran, particularly the avoidance of usury, to the financing of a government's expenditure. Islamic governments aim to balance their budgets to avoid borrowing; if borrowing is needed, government securities can be issued at less than their redemption value as a means of disguising an interest payment. Also, there are severe problems in raising revenue as purchase tax exploits the needy and incomes are too low to have a broad-based income tax. Even the special tax under Islamic law, the 'zakat', which is an annual wealth tax, can only be used to finance social purposes, mainly at the local level.
<strong>Add Loan</strong> – Application processing feature within MODEL Direct. The Add Loan process provides a realtime guarantee for loan applications.
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