Glossary of terms

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NSLF

National Student Loan Fund

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SLAC

Student Loan Advisory Committee

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Sureties

The guarantors or persons who will countersign the loan documents and agree to meet the applicant’s obligations in case of default

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Student Loan Agreement

The formal document outlining the terms and conditions of the loan including repayment obligations and actions that may be taken by the NSLF if a loan recipient fails to repay the loan or breaches any other loan conditions.

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Bond agreement

The formal, legal document binding the applicant to the loan arrangements and to returning at the end of studies to serve the country. Failure to comply could result in legal action being taken against the applicant as well as the sureties.