education-loan

Vocabulary Word

Definition

The term 'education loan' refers to money borrowed to finance education or school-related expenses. These loans are meant to cover the cost of tuition, books and supplies, and living expenses while in school.

Examples in Different Contexts

In higher education, 'education loans' are often discussed in financial aid offices as part of a student's funding package. An aid officer might say, 'We'll help you navigate your options for education loans to ensure you can manage your finances effectively throughout your college career.'

Practice Scenarios

Academics

Scenario:

Many of our students hesitate to continue their studies because of financial constraints. Finding ways to link them with financial resources could be a focus.

Response:

That makes sense. We could set up a financial advisory desk to guide students about different education loan options.

Tech

Scenario:

There's a growing demand for upskilling with tech-trends like artificial intelligence and machine learning. How might we adapt our digital banking services to meet this need?

Response:

I agree. Integrating an education loan service for tech courses into our digital banking platform could be a great solution.