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A private student loan is a financing option for higher education in the United States that can supplement, but should not replace, federal loans, such as Stafford loans, Perkins loans and PLUS loans. Private loans, which are heavily advertised, do not have the forbearance and deferral options available with federal loans (which are never advertised). In contrast with federal subsidized

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.