I have always loved words. While others might stream Netflix on their phones or listen to Spotify, I play word games; Word Collect, WordWizard, Wordbubbles, Word Nut, and Word Chums. In thinking about how my love of words developed, I credit my Dad. From a young age, whenever I asked him what a word meant, he’d reply, “Go look it up.” And I did. On the 3rd floor of the house I grew up in, we had an old (circa 1954) Encyclopedia Britannica set. It was slightly outdated but useful, nonetheless. And next to it – The Webster’s New World Dictionary of the American Language.
Housed within the navy-blue fabric cover was every word I needed to know. The dictionary has been a lifelong friend; one that has filled me with wonder and knowledge, and even now, I am excited when I come across an unfamiliar word. These days, I use the dictionary app on my phone, or I open dictionary.com on my laptop, but a hard copy dictionary still sits on a shelf in my office.
My home office, at one time, was truly just a place to pay bills and write thank you notes. But here we are, almost springtime 2021, and our home offices are now the places where we connect via Zoom, work in our sweats and slippers, and long for the time when “things get back to normal”.
Normal: conforming to the standard or the common type. Yes, the theme of this blog is definitions. The linguistics of student loans is a language all to its own. Shedding some light on keywords and providing information is the goal, starting with pertinent terminology.
Math was never my strong suit, hence my B.A. in English. But there is jargon specific to the student loan space that is numbers related. Albert Einstein once said that “mathematics is, in its way, the poetry of logical ideas.” Now that phrase speaks to the English major in me!
The 1960 song, Wonderful World, sung by Sam Cooke, begins with “Don’t know much about history…” The history of student loans in the US is like a melody that begins slowly and rises to the crescendo of $1.71 trillion dollars, according to Forbes Magazine in February 2021.
Maybe you completed your homework in study hall. Perhaps you secretly texted friends. I remember seeing classmates catnapping behind open textbooks. Did you study for a vocabulary quiz? I imagine the following words might not have been included on your test.
We become informed in such varied ways; digitally, in print form, by listening to others, and in the classroom. Impact Capital Funds hopes today’s lesson has provided readers with a clearer sense of the lingo used in the student loan space.
While we seek to inform, we also provide an opportunity for borrowers to refinance their loans. As I think back to my Dad’s adage of “go look it up,” I often wondered why he didn’t just tell me what a word meant. Now I know. He was steering me towards my love of language, a way with words, and the ability to learn for myself and thus, share the knowledge gained with others. Readers…aren’t you lucky?!
Laura Midkiff has a passion for student loan refinancing. As the mom of three, two of whom have student loan debt, her mission is to inform, and to seek solutions to this formidable issue of our time. She has written for the South Bend Tribune and NPR radio. She paid off her undergraduate student loans in 1989.