Mention two financial obligations of a study loan
Two financial obligations of a study loan are:
1. Repayment of the loan: The borrower is obligated to repay the loan amount along with the interest accrued on it. The repayment period may vary depending on the terms and conditions of the loan agreement.
2. Payment of fees and charges: The borrower may be required to pay various fees and charges associated with the loan, such as processing fees, late payment fees, prepayment charges, etc. These fees and charges can add up to a significant amount and increase the overall cost of the loan.