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abstinence (D3)<br />A justification for the payment of interest, first advanced by Nassau SENIOR. An individual who abstains from current consumption is rewarded with interest for adding to the capital stock. Abstinence explains the supply of savings: that supply, together with the demand for capital, forms a theory of the interest rate.<br /> <br /><em>Reference</em><br />Senior, N.W. (1836) An Outline of the Science of Political Economy. Reprinted New York: Augustus M. Kelly, 1965.
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<strong>PLUS Loan for Graduate and Professional Students</strong> – Effective July 1, 2006, PLUS loans may be offered to graduate and professional students. According to CommonLine file specifications, the loan type to be used for Grad PLUS Loans is GB.
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