Your Finances; Your Future

Financial Glossary

ALL | A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z

Debit Card

A  card similar to a credit card that allows money to be withdrawn or payments made directly from the holder's bank account.


Money owed in exchange for loans or for goods or services purchased with credit.


Default is the failure to promptly pay interest or principal when due.


A period of time during which students are not required to make loan payments, such as while enrolled full-time.

Direct Deposit

An electronic transaction in which money is deposited directly into a payee's bank account from a payer's bank account.

Discretionary Income

The portion of personal income available for spending after taxes and basic essentials have been deducted.

Disposable Income

The amount of a person's paycheck that is available to spend or save.