BOOK OF FINAL ENTRY Definition

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BOOK OF FINAL ENTRY see LEDGER.

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CONSOLIDATION is similar to refinancing, but there is no loan fee. It simplifies loan repayment by combining several types of federal education loans into one new loan. (In the case of Direct Loan consolidation, the interest rate may be lower than one or more of the underlying loans.).

INTERFUND LOAN is an authorized (usually) short term loan from one fund to another.

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