A Student Loan is Given to Help The Students

A student loan is designed to help students pay for university tuition, books, and living cost. This loans are different from the other types which the interest rate is lower and the repayment schedule is deferred while the student is still in education. The requirement in accepting any kind of student loan,one should be familiar with its basic attributes.

For example;The United States uses a federally guaranteed student loan program to help college students pay for their education. The program allows students to borrow money at a reduced interest rate and defer payment until they are no longer in school. Student loans are generally offered as part of a total financial aid package that may include grants, scholarships or work study opportunities.