O's

Open Admissions: Open admissions do not always refer to the same meaning at every institution, but usually means a college where admission is available to almost every high school graduate or GED holder.
Origination Fee: This fee is deducted from the debtor’s earnings like the guarantee fee and is a payment expense by Direct Loans, the federal government on FFELP, that is meant to balance special allowances, additional coverage payments and interest expenses.
Overpayment: When a student is paid anything over what they were initially given or qualified to collect.


Go to Glossary, letter P.

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