When you’re all set to graduate from school, everyone encourages you to continue your education, but no one can tell you the perfect way to pay for it. A thing called ‘student loan’ can help you get a quality education while paying for it with ease. A student loan is a money borrowed from lenders to pay for college. The loan should be paid back within the time frame along with the interest that adds up over time. Generally, the money is used for tuition, books, room, fees and other necessary things.