Education loans
Students (or their parents) have to meet their own day-to-day expenses while studying at college or business school. They may also have to pay tuition fees and other charges imposed by the college. Bursaries and scholarships are available for some students but many can only finance their education by taking out student loans. These loans are long term and may be made at relatively low interest rates. Governments may subsidize the costs of loans from banks or give borrowers a favorable tax treatment on interest paid on such loans.