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closed economy (F1, PO)<br />An ECONOMY which does not engage in international trade. There are no economies of this type in the world today but countries such as Japan were closed to foreigners for centuries. The concept is important theoretically to construct simple macroeconomic models uncomplicated by international trade.<br /><em>See also:</em> autarky; open economy
<strong>LTH</strong> – Less than half time, an enrollment status indicating the student is carrying less than a half-time academic workload, as determined by the school. Students who are less than half time are not eligible to borrow FFEL Program loans.
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<strong>Wage garnishment</strong> – The withholding of a portion of a borrower' s wages to repay a defaulted loan. (See also AWG.)
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