student loan

Meaning

An agreement where a student borrows money from a bank or the government to pay for university tuition and living costs, which must be paid back later, usually with interest.

Examples

• It took him nearly ten years to fully pay off his student loan.

  It took him nearly ten years to fully pay off his student loan.

• She had to take out a student loan to cover her housing costs at college.

  She had to take out a student loan to cover her housing costs at college.

• Are you planning to apply for a student loan, or do you have savings?

  Are you planning to apply for a student loan, or do you have savings?

• The interest rate on my student loan went up again this month.

  The interest rate on my student loan went up again this month.

• Many graduates struggle with student loan debt when they start their careers.

  Many graduates struggle with student loan debt when they start their careers.

Common Mistakes

• ✗ I got a student lend to pay for my classes.

  ✓ I got a student loan to pay for my classes.

  'Lend' is a verb. The noun for the money borrowed is 'loan'.

• ✗ I need to return my student loan next year.

  ✓ I need to pay off my student loan next year.

  You 'pay off' or 'repay' a loan, rather than 'returning' it.

Related Expressions

Practice

• I didn't have enough savings, so I had to take out a ___ to pay for college.

  💡 Borrowed money for university studies.

  Show answer

  student loan

• It's an amazing feeling when you finally pay off your ___.

  💡 The debt accumulated during your studies.

  Show answer

  student loan