Frequently Asked Questions



Base Rate ・The Bank of England interest rate for lending to other banks.
Grant ・The act of providing a subsidy; monetary aid.
Interest rate ・The yearly rate of interest on a loan, normally expressed as a percentage of 100.
LEA ・Your local council education department. In England and Wales the Award Authority will be your LEA.
Overdraft The amount by which a cheque or other payment orders exceeds the funds on deposit.
Student Overdraft ・A common source of higher education student finance. Almost every high-street bank offers a student overdraft facility, which is part of a student bank account package.