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equal opportumtles. President Nixon announced its demise in 1973.

<strong>Income-contingent repayment schedule</strong> – A repayment schedule for some Direct Loans under which the borrower' s monthly payment amount is adjusted annually, based on the borrower' s income, family size, and debt amount.

<strong>Secondary market</strong> – An entity that purchases education loans from eligible lenders. The secondary market obtains funds from investors or public bonds and uses those funds to purchase existing education loans from lenders.
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