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<strong>LOA</strong> – Leave of Absence, an approved break in enrollment, not including a regularly scheduled semester break or spring break, that is requested by the student and approved by the school. The student' s request must be in writing and must include the reason for the leave. An LOA cannot exceed 180 days in any 12-month period.
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<strong>Assignment</strong> – Language placed on or attached to the promissory note indicating a change or transfer of loan ownership (e.g., when a loan is sold by a lender to a secondary market).
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