Student debt
Debt used to finance post-secondary education or higher degrees / From Wikipedia, the free encyclopedia
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Student debt refers to the debt incurred by an individual to pay for education-related expenses. This debt is most commonly assumed to pay for tertiary education, such as university.
This article's tone or style may not reflect the encyclopedic tone used on Wikipedia. (May 2018) |
The amount loaned or the loan agreement is often referred to as a student loan. In many countries, student loans work differently compared to mortgages with differing laws governing renegotiation and bankruptcy. As with most other types of debt, student debt may be considered defaulted after a given period of no response to requests by the school or the lender for information, payment, or negotiation. Afterward, the debt is turned over to a student loan guarantor or a collection agency.