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Meaning / Definition of

Student Loan

Categories: Credit and Debt,

A loan offered to students which is used to pay off education-related expenses, such as college tuition, room and board at the university, or textbooks. Many of these loans are offered to students at a lower interest rate, such as the perkins loan or stafford loan. In general, students are not required to pay back these loans until the end of a grace period, which usually begins after they have completed their education.

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