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Master Check

A single check issued from a lender or disbursing agent to a school that includes loan disbursements for two or more borrowers.

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.

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).

Master Check

Maturity

Minimum Payment