Student debt

Student debt is a form of debt that is owed by an attending, withdrawn, or graduated student to a lending financial institution.

The amount loaned is often referred to as a student loan. Student loans are intended to be used for educational costs. In many countries, student loans work differently than mortgage or credit card debt 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. Afterwards, the debt is turned over to a student loan guarantor or a collection agency.