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<strong>DFee</strong> – Default Fee, a fee required by the Deficit Reduction Act of 2005. All Stafford and PLUS Loans guaranteed on or after July 1, 2006 must be assessed a one percent fee. The fee either must be deducted from the borrower' s loan proceeds at the time of disbursement or paid by a third party from other non-federal sources (such as a lender or servicer). This fee is also referred to as FDF.
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Gresham's law (E4)<br />'Bad money drives out good.' A maxim of Sir Thomas Gresham (1519-79), the founder of the Royal Exchange, London, who asserted it in 1560 with reference to base silver coin. The contemporary experience of coinage being debased through CLIPPING prompted this observation. The law operates because of the public's propensity to hoard more valuable currency, thereby withdrawing it from circulation.
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