Search
Select the dictionary language
a loan taken out by a student to help pay for educational expenses, usually with the requirement to repay the borrowed amount with interest after completing their studies
What is a "student loan"?
A student loan is money borrowed to pay for education-related expenses, such as tuition, books, and living costs. It is typically provided by the government or private lenders, and the borrower agrees to repay the loan with interest after completing their studies. The loan terms, including repayment period and interest rate, vary depending on the type of loan and the lender. Student loans help individuals afford higher education but must be repaid, often beginning after graduation or when the student is no longer enrolled.
