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- Dictionaryrepayment/rɪˈpeɪm(ə)nt/
noun
- 1. the action of paying back a loan. Similar
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Repayment is the act or amount of paying back money that you have borrowed. Learn how to use this word in different contexts, such as mortgages, loans, and taxes, with examples and collocations.
Learn the meaning of repay, a verb that means to pay back, give or inflict in return, or make a return payment. See synonyms, examples, word history, and related entries for repay and repayment.
- How Repayment Works
- Types of Repayment
- Federal Student Loans
- Home Mortgages
- Forbearance, Consolidation, and Debt Relief
- The Bottom Line
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When consumers take out loans, their lenders expect they will likely repay the debt. Interest is charged based on an agreed-upon rate and payment schedule from when a loan is disbursed to when it's settled. When making loans, financial institutions forgo other investment opportunities that could offer returns. The interest charges pay them for this...
From covering education expenses to buying a new home or car, achieving your financial goals often requires borrowing money. Each kind of loan has a specific purpose and has its own repayment terms. Auto loans, for example, usually have fixed interest rates and are designed to be paid back within a few years. Mortgages are long-term commitments tha...
Federal student loans typically permit reduced or deferred payments and loan forgivenessin some instances. Plans for widespread forgiveness of federal student loans remain the subject of intense political debate and legal challenges. Whatever the long-term outcome of student debt forgiveness, these loans typically have some flexibility. Your option...
Homeowners facing difficulties with their mortgages have some choices to stave off foreclosure. Borrowers with an adjustable-rate mortgagemay be able to refinance their loans as a fixed-rate mortgage with a lower interest rate. If the problem with payments is temporary, borrowers can work toward reinstatement, paying the lender the past-due amount,...
Some debts may qualify for forbearance, a temporary relief that allows borrowers to pause or reduce payments because of financial hardship. While this option can give you time to recover financially, interest will continue to accrue during the forbearance period. Deferment choices also exist, particularly for federal student loans, for borrowers wh...
Repayment refers to paying back money that you have borrowed. Loan repayments cover a part of the principal, or the amount borrowed, and interest, which is what the lender charges for supplying the funds. Loan agreements specify the repayment terms, including the interest rates to be paid. When taking out a loan, borrowers should pay close attentio...
Learn what repayment means and how it works for various types of loans, such as student loans, mortgages, and auto loans. Find out the options and consequences of missing or delaying payments, and how to negotiate with lenders.
Repayment is the act of paying back money that you have borrowed or the amount of money that is paid back. Learn more about repayment in different contexts, such as mortgages, loans, and credit cards, with examples and collocations.
Learn the meaning of repayment as a noun, with pictures, pronunciation and usage notes. Find out how to use repayment in sentences and collocations related to money, loans and debts.
Repayment is the act or process of paying back money that you owe to someone or an organization. Learn how to use the word in different contexts, synonyms, collocations and translations.
Repayment is the act of paying back or giving back something, such as money, kindness, or compensation. Find the meaning, synonyms, and translations of repayment in different languages, such as Spanish, German, and Italian.
