Student loan policy refers to the regulations and guidelines that govern how students can borrow money to pay for their education. This policy outlines the types of loans available, eligibility criteria, interest rates, and repayment options. It aims to make higher education accessible while ensuring that borrowers can manage their debt responsibly. In many countries, including the United States, student loans can be federal or private. Federal loans often have lower interest rates and more flexible repayment plans compared to private loans. Understanding these policies is crucial for students to make informed decisions about financing their education.