Student Loan
A type of loan provided by the government or other financial institution to help students and their families pay for their education expenses.
More Details
A student loan is a type of loan that is intended to help students pay for their education. It is typically issued by the government or a private lender, and it is usually repaid over a period of time after the student has completed their education.
Example
You take out a student loan to help pay for your tuition and other expenses while you are in college. After you graduate, you begin making monthly payments on the loan, which you will continue to do for the next 10 years until the loan is fully repaid.
Related Terms
Beneficiary
A person or entity that is entitled to receive the benefits or proceeds of a trust, insurance policy, or will.
Overdraft Line of Credit
A loan tied to a checking account that can be used to cover transactions that exceed the available balance in the account.
Accrued Interest
Interest earned on a member's loan or debt that has not yet been paid or added to the principal.

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