A student loan is a type of loan designed to help students pay for post-secondary education and the associated fees, such as tuition, books and supplies, and living expenses. It may differ from other types of loans in the fact that the interest rate may be substantially lower and the repayment schedule may be deferred while the student is still in school. It also differs in many countries in the strict laws regulating renegotiating and bankruptcy. This article highlights the differences of the student loan system in several major countries.
This is the image of the Percentage of Federal Student Loans in Default within age groups, Fiscal Year 2013. This chart shows that in 2013, around 17 percent of parent plus loans were in default from ages 65 to 74, and 30 percent of their own education loans were in default.
Occupy Boston activist Nelson Terry at the Occupy Wall Street event in New York City protesting student loan debt, September 19, 2011
In finance, a loan is the transfer of money by one party to another with an agreement to pay it back. The recipient, or borrower, incurs a debt and is usually required to pay interest for the use of the money.
Loan document issued by the Bank of Petrevene, Bulgaria, dated 1936.
