A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z |

Legal Dependent: A biological or adopted child, or a person for whom the applicant has been appointed legal guardian, and for whom the applicant provides more than half support. In addition, a person who lives with and receives at least half support from the applicant and will continue to receive that support during the award year.

Legal Resident: A person who has met a state or local districts requirements for being declared a resident. May also refer to an individual who is not a U.S. citizen but is still eligible for federal financial aid funds. See Eligible Non-citizen and Residency Requirements.

Lifetime Learning Tax Credit: A federal tax credit for higher education expenses. Rather than allowing deductions on a per-student basis, as with the Hope Scholarship Credit, the Lifetime Learning Credit is used on tax-return basis and covers a more expansive timeframe and array of educational courses.

Loan: An advance of funds that is evidenced by a promissory note requiring the recipient to repay the specified amount(s) under prescribed conditions.

Loan Repayment Program: A special program available to qualified students who have attended college on federally funded student loans and who subsequently enlist in the Army for at least three years in a job specialty. For each year of service, federal loans are reduced by one-third or $1,500, whichever is greater, up to a maximum of $65,000.