CFR > Title 34 > Subtitle B > Chapter II > Part 206 > Subpart C – How Does One Apply for a Grant?
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| § 206.20 | What must be included in an application? |
Terms Used In CFR > Title 34 > Subtitle B > Chapter II > Part 206 > Subpart C - How Does One Apply for a Grant?
- Contract: A legal written agreement that becomes binding when signed.
- Fixed Rate: Having a "fixed" rate means that the APR doesn't change based on fluctuations of some external rate (such as the "Prime Rate"). In other words, a fixed rate is a rate that is not a variable rate. A fixed APR can change over time, in several circumstances:
- You are late making a payment or commit some other default, triggering an increase to a penalty rate
- The bank changes the terms of your account and you do not reject the change.
- The rate expires (if the rate was fixed for only a certain period of time).