ETYM French crédit (cf. Italian credito), Latin creditum loan, prop. neut. of creditus, p. p. of credere to trust, loan, believe. Related to Creed.
In education, a system of evaluating courses so that a partial qualification or unit from one institution is accepted by another on transfer to complete a course. At US universities and colleges, the term also refers to the number of units given upon successful completion of a course.
Credit transferability is common in higher education in the US, and is just beginning to be developed between institutions in the UK.1. An accounting entry acknowledging income or capital items; SYN. credit entry.
2. An entry on a list of persons who contributed to a film or written work.
3. Arrangement for deferred payment for goods and services; SYN. deferred payment.
4. Educational recognition that a course of studies has been successfully completed; SYN. course credit.
5. Money available for a client to borrow.
6. Used in the phrase to indicate an achievement deserving praise.
(Homonym: lone).
The provision of money temporarily (usually at interest).
Form of borrowing by individuals, businesses, and governments.
Individuals and companies usually obtain loans from banks. The loan with interest is typically paid back in fixed monthly installments over a period of between one and five years in the UK, although longer-term loans and different repayment conditions may be negotiated. Debentures and mortgages are specific forms of loan. In business, loans are the second most important way after retained profit in which firms finance their expansion.