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recession (E3)<br />1 A phase of the business cycle which succeeds a boom and precedes a trough.<br /> 2 A six-month fall in GROSS DOMESTIC PRODUCT according to the NATIONAL BUREAU OF ECONOMIC RESEARCH of Washington, DC.
<strong>Master Promissory Note (MPN)</strong> – A common form that allows a student or parent to borrow multiple loans for multiple academic years and providing repayment obigations information (rights and responsibilities). A signed borrower MPN is required before student loan funds can be disbursed to the school.
exchange rate premium (F3)<br />The difference between the forward exchange rate and the expected future spot exchange rate.
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<strong>Institutional Student Information Record (ISIR)</strong> – The electronic output record provided to the school by the CPS that includes information provided by the student on the FAFSA. The ISIR contains the student' s EFC (Expected Family Contribution) and the results of federal database matches.
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