A student loan is a type of financial aid specifically designed to help students cover the costs of their education, including tuition, fees, books, and living expenses. These loans must be repaid, usually with interest, after the student completes their education or drops below a certain enrollment status. They can be offered by the federal government or private lenders and often have varying terms, interest rates, and repayment plans.
What is a student loan? (1 point)
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