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<strong>Disbursing agent</strong> – The lender, servicer, guarantor, or other entity that issues disbursement funds to the school for delivery to the borrower.
<strong>Administrative forbearance</strong> – A temporary suspension, reduction, or time extension for making principal and/or interest payments on a FFEL Program loan. During any period of forbearance, interest continues to accrue on the loan.
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<strong>Aggregate loan limit</strong> – The borrower' s maximum allowable unpaid principal amount throughout the student' s academic career. Capitalized interest or any collection costs that may have been added to the principal balance are not included in the borrower' s aggregate loan limit.
<strong>Lender of Last Resort (LLR)</strong> – A student loan lender that agrees to make Stafford Loans to qualified students, regardless of the type of school, school' s CDA, etc. The MDHE offers an LLR program for Missouri students.
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