Describing a loan made to a borrower whose credit record is poor, so the lender charges a higher interest rate to cover the higher risk of not being paid back. The word is banking jargon and it names the borrower's grade, not the loan's quality: *prime* borrowers are the safe ones with good records, so *sub*prime means below that line.

Describing a loan made to a borrower whose credit record is poor形容一種貸款是借給信用紀錄不好的借款人, so the lender charges a higher interest rate所以放款方會收比較高的利率 to cover the higher risk of not being paid back來補償比較高的收不回錢的風險. The word這個字 is banking jargon是銀行業的行話 and it names the borrower's grade, not the loan's quality講的是借款人的等級，不是貸款本身的品質: *prime* borrowers *prime* 等級的借款人 are the safe ones with good records是信用紀錄好、比較安全的那群人, so *sub*prime means below that line所以 *sub*prime 就是指在那條線以下.

You will see it in front of nouns — subprime mortgage, subprime lending, subprime borrower — and as a noun for the whole market (losses in subprime).

You你 will see it in front of nouns會看到它放在名詞前面 — subprime mortgage, subprime lending, subprime borrower次貸房貸、次級放款、次級借款人 — and as a noun for the whole market也可以當名詞指整個市場 (losses in subprime次貸市場裡的損失).

Everyone who knows this word knows it because of one event: the American subprime mortgage crisis of 2007-2008, when banks lent heavily to people who could not repay, bundled those loans into investments, and set off a global financial crash. Because of that, *subprime* now carries a permanent whiff of recklessness and disaster in ordinary use — a journalist calling something 'the subprime of the education sector' means a bubble built on bad debt.

Everyone who knows this word每個知道這個字的人 knows it because of one event都是因為同一個事件才知道它的: the American subprime mortgage crisis of 2007-2008 2007到2008年的美國次貸危機, when banks lent heavily to people who could not repay當時銀行大量把錢借給還不出錢的人, bundled those loans into investments把這些貸款包裝成投資商品, and set off a global financial crash引爆了一場全球金融崩盤. Because of that正因為這樣, *subprime* *subprime* now carries a permanent whiff of recklessness and disaster in ordinary use在日常用法裡永遠帶著一股魯莽和災難的味道 — a journalist calling something 'the subprime of the education sector'如果記者說某件事是「教育界的 subprime」 means a bubble built on bad debt意思是靠爛帳堆出來的一個泡沫.

Note it is a term of art, so it is never rude in banking, but a person would not call themselves a subprime borrower in conversation.

Note注意 it is a term of art它是個專業術語, so it is never rude in banking所以在銀行業裡用起來一點都不失禮, but a person would not call themselves a subprime borrower in conversation但一般人在對話裡不會自稱是 subprime borrower.