A student loan is a type of financial aid designed to help students pay for their education expenses, such as tuition, books, and living costs. These loans are typically offered by the government or private lenders and must be repaid with interest after the student graduates or leaves school. There are different types of student loans, including federal loans, which often have lower interest rates and more flexible repayment options, and private loans, which may have varying terms. Understanding the terms and conditions of each loan is essential for managing debt after completing a degree.