M N
Master Check
A single check issued from a lender or disbursing agent
to a school that includes loan disbursements for two or
more borrowers. [Back to top]
Maturity
A loan's maturity is the life of the loan; that is, how
long you have to repay the loan. It usually applies to term
loans and not lines of credit. [Back to top]
Minimum Payment
The minimum amount that you must pay, usually monthly,
on a home equity loan or line of credit. In some plans,
the minimum payment may be "interest only," (simple
interest). In other plans, the minimum payment may include
principal and interest (amortized).
[Back to top]
|
Master Check
Maturity
Minimum Payment
|
