STUDENT LOAN Meaning and
Definition
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A student loan is a type of financial aid available to students to cover the cost of their education, including tuition fees, books, living expenses, and other educational-related expenses. It is a form of financial assistance provided by the government, educational institutions, or private lenders to help students pursue their academic goals.
In its most common form, a student loan is a sum of money borrowed by a student from a lender with the agreement to repay the loan, typically with interest, after the completion of their studies or a grace period following graduation. The terms and conditions of each student loan can vary, such as interest rates, repayment periods, and eligibility requirements.
Student loans play a crucial role in enabling individuals to access higher education, especially in situations where students and their families may not have the financial means to cover all the expenses upfront. By granting students access to financial resources, student loans aim to provide equal educational opportunities and bridge the gap between financial need and the rising costs of education.
It is important to note that student loans are legal obligations and must be repaid in accordance with the agreed terms. Failure to repay student loans can have serious consequences, such as damage to credit scores, wage garnishment, or legal actions by the lender.
Common Misspellings for STUDENT LOAN
- atudent loan
- ztudent loan
- xtudent loan
- dtudent loan
- etudent loan
- wtudent loan
- srudent loan
- sfudent loan
- sgudent loan
- syudent loan
- s6udent loan
- s5udent loan
- stydent loan
- sthdent loan
- stjdent loan
- stident loan
- st8dent loan
- st7dent loan
- stusent loan
- stuxent loan
Etymology of STUDENT LOAN
The word "student loan" consists of two main parts - "student" and "loan".- "Student" comes from the Latin word "studens" (present participle of "studere"), which means "to be eager for, to study". It originated from the Proto-Indo-European base "*stewd-", meaning "to push, to punch". The term "student" has been used since the late 14th century to refer to one who is studying or is enrolled in an educational institution.
- "Loan" comes from the Old Norse word "lán" which means "a borrowing, lent" and is related to the Old English word "lǣn". Its root can be traced back to the Proto-Germanic word "*launiz" meaning "something lent, loan", which is also connected to the Proto-Indo-European base "*leie-" meaning "to lend, to borrow".
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