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paperless entry (G2)<br />Electronic banking pioneered by the System Committee on Paperless Entry set up by the bank clearing houses of San FranCisco and Los Angeles and the Federal Reserve in 1968. By 1978 a national network was set up.<br /><em>See also:</em> dematerialization
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<strong>Accrued interest</strong> – Each day interest is calculated on the unpaid principal balance of a loan and increases (accrues). Interest accrues on a subsidized Stafford Loan after the grace period is completed and the borrower enters repayment. For unsubsidized Stafford, parent PLUS, and Grad PLUS Loans, on the other hand, interest begins to accrue after the first disbursement of the loan.
<strong>CBO</strong> – Congressional Budget Office.
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