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<strong>Subrogation</strong> – A transfer in the ownership of a defaulted FFEL Program loan from a guarantor to the U.S. Department of Education. Loans to be subrogated are determined by established federal criteria, revised annually by DE.
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market clearing price (DO)<br />The ruling price in a particular period for which there is sufficient demand to equal the amount supplied, even if there are simultaneous shocks to the economy. Some markets rarely appear to produce clearing prices as they are in DISEQUILlBRIUM for long periods of time, e.g. the labour market where involuntary unemployment and vacancies coexist for long periods of time.
<strong>Notice of Loan Approval (NOLA)</strong> – A paper copy of the MDHE' s loan guarantee statement which schools may receive if profiled for this service.
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