Student Loan
Also called: student debt, education loan
A student loan finances education, and it is unusual among consumer debts in two ways: repayment often doesn't start until after study, and government-issued versions carry protections private lenders don't offer — income-driven plans, deferment, and forgiveness routes. That gap is why refinancing federal loans privately for a slightly lower rate can be an expensive trade. Student debt is also very hard to discharge in bankruptcy, which is what makes it uniquely persistent.