student loan

Student loans are borrowed funds used to pay for post‑secondary education and related expenses. They are typically offered by the federal government (e.g., Direct Subsidized, Direct Unsubsidized, PLUS, Perkins) or private lenders. Borrowers repay the principal plus interest after graduating, leaving school, or dropping below half‑time enrollment, following a repayment schedule that may include standard, graduated, income‑driven, or deferment/forbearance options. Failure to repay can lead to credit damage, wage garnishment, and loss of tax refunds. Views Nigeria