Student Loan
A student loan is a loan used to pay for education expenses such as tuition, books, and housing. Repayment typically begins after graduation or a grace period.
Student loans can be federal or private, with different interest rates and repayment options. Some programs offer deferment or forbearance during hardship.
Related Terms
Interest
Interest is the cost of borrowing money or the return earned on deposited funds, typically expressed...
Principal
Principal is the original amount of money borrowed in a loan or the original amount invested. It doe...
Credit Score
A credit score is a numerical rating that represents a person's creditworthiness based on their cred...
Forbearance
Forbearance is a temporary agreement that reduces or pauses loan payments for a set period. It is of...
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