APPLY
NOW / LOGIN
GLOSSARY
Early decision
An opportunity that gives students the chance to apply to colleges and get an answer before the regular admissions deadline. In most colleges, early decision programs require that the student commit to attending the school if accepted under the early decision program.
Early occupancy
This option allows the buyer to move into the property before the sale is closed.
Early termination charge
In auto leasing, a charge that the lessee must pay if the car is turned in before the term of the lease is over.
Early withdrawal
Early withdrawal is the removal of deposited funds prior to a maturity date, or prior to the achievement of a prescribed milestone. Early withdrawal is commonly associated with certificates of deposit (CDs), where funds are supposed to remain on deposit for a fixed time period. If the funds are withdrawn early, the depositor is assessed a penalty fee. Early withdrawal can also refer to the removal of funds from a U.S. retirement account prior to the accountholder reaching the age of 59 1/2.
Early withdrawal penalty
The total sum of the money you earn. This includes any wages, salaries, tips, net earnings (if you're self-employed) and any other income received for personal services. Investment income, such as dividends and interest, are not included as earned income.
Earned income
The total sum of the money you earn. This includes any wages, salaries, tips, net earnings (if you're self-employed) and any other income received for personal services. Investment income, such as dividends and interest, are not included as earned income.
Earned income credit
Earned income credit, or EIC, is a tax credit available to low-income, working households in the U.S.
Earnest money
Money given by a buyer to a seller when making a formal offer to demonstrate that the buyer is serious and committed. This may also be called a deposit.
Earnest money deposit
Initial sum of money given by the buyer to the seller in order to assure the purchase transaction.
Earnings credit rate
The earnings credit rate is a factor used to discount bank service charges for business deposit customers. The rate, which is often tied to the U.S. Treasury bill rate, is applied to a customer's account balance to determine the fee reduction. Customers with large deposits therefore pay lower fees.
Earnings per share
The net earnings of a company's profitability divided by the average number of shares of its common stock. This serves as a way of expressing a corporation's profitability.
Easement
The right to use the land of another for specific purpose as distinguished from the right to possess the land.
Easy monetary policy
An easy monetary policy is characterized by reductions in short-term interest rates. A central bank, such as the Fed, sets the monetary policy for a country or political entity. Monetary policies are implemented primarily through interest rate decisions.
Echeck
An Echeck is an electronic draft ordering a bank to make a payment from one account to another. Echecks have the same function and purpose as paper checks.
Education Bond Program
The Education Bond Program is tax legislation that allows holders of U.S. savings bonds to cash in those bonds tax-free, as long as the proceeds are used to pay for qualifying educational expenses.