Student loans are financial aids that help students pay for their education, covering costs like tuition, books, and living expenses. These loans are typically offered by the government or private lenders and must be repaid with interest after the student graduates or leaves school. The amount borrowed can vary based on the type of loan and the student's financial need. There are two main types of student loans: federal student loans and private student loans. Federal loans usually have lower interest rates and more flexible repayment options, while private loans may offer higher amounts but can come with stricter terms. Understanding these options is crucial for managing education costs effectively.