It means instead of entering months or years, you enter "LOC" in the field.
Base Segment, Field 13
For installment loans, report the maximum number of months allowed for repayment of the loan.
For line of credit accounts, report a constant of LOC.
When the loan is in a period during which payments are not required (i.e., initial in-school, grace, deferment, and forbearance periods), report Terms Duration as blank.
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