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Lapse in appropriations

This happens when Congress doesn't pass new funding laws before the old ones expire, leading to a temporary shutdown of non-essential government operations because there's no money legally available to spend.

Furlough

A temporary, non-duty, non-pay status for federal employees due to a lack of work or funds, often occurring during government shutdowns.

Excepted employee

A federal employee who is required to continue working during a government shutdown because their job is considered essential to protect life or property, even if they aren't getting paid on time.

Federal Direct Loans

Student loans offered directly by the U.S. Department of Education, which are the main type of federal student loan.

Consumer reporting agency

Companies, like credit bureaus, that collect and sell information about individuals' credit history, used by lenders to decide whether to grant loans.

Accrue interest

When interest builds up on a loan over time, increasing the total amount owed.