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<strong>Web loan delivery product</strong> – An online system that allows schools, borrowers, and/or lenders to inquire on loans or borrowers, submit change transactions, manage files, and guarantee new loans via the internet. The MDHE' s product is called MODEL Direct.
<strong>Week of instruction</strong> – Any period of 7 consecutive days in which the school provides at least one day of regularly scheduled instruction or examinations.
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<strong>Assignment</strong> – Language placed on or attached to the promissory note indicating a change or transfer of loan ownership (e.g., when a loan is sold by a lender to a secondary market).
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