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Education loans are loans issued for the purpose of attending an academic university and pursuing an academic degree. Education loans can be obtained from the government or through private sector lending sources. Federal loans often offer lower interest rates. Some also offer subsidized interest. Private sector loans generally follow more of a traditional lending process for application with rates typically higher than federal government loans. (See also: An Introduction to Student Loans and the FAFSA and College Loans: Private vs. Federal)
BREAKING DOWN 'Education Loan'
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