What Are the Different Types of Education Loans Available?
An education loan refers to a financial sum obtained to support post-secondary or higher education expenses. These loans are designed to assist with costs such as tuition fees, textbooks, supplies, and living expenses incurred while the borrower is engaged in their degree program. Typically, repayment is postponed during the student\'s studies and may extend for six months following graduation, depending on the lender\'s terms. This period of deferred payments is commonly known as a \"grace period.\"