The primary purpose of a student account is to manage financial transactions related to a student's education, including tuition and fees, financial aid, and student loans.

Tuition and fees typically cover the cost of instruction, academic resources, and other educational expenses, such as the cost of textbooks and supplies.

The primary difference between a grant and a loan in the context of financial aid is that grants do not need to be repaid, while loans do.

The maximum amount of money that a student can borrow in federal student loans per year varies depending on the student's year in school and their dependency status. However, the maximum amount for undergraduate students is typically around $20,000 per year.

The grace period for federal student loans is typically 6 months after the student graduates, leaves school, or drops below half-time enrollment.

The Standard Repayment Plan is the most common type of student loan repayment plan. Under this plan, the borrower makes fixed monthly payments over a period of 10 years.

A student loan deferment allows the borrower to temporarily postpone making loan payments for a period of time, typically due to financial hardship or other qualifying circumstances.

A student loan forbearance allows the borrower to temporarily reduce the amount of the monthly loan payment for a period of time, typically due to financial hardship or other qualifying circumstances.

Student loan consolidation combines multiple student loans into a single loan with a single monthly payment. Student loan refinancing replaces one loan with another, typically with a lower interest rate.

The Public Service Loan Forgiveness Program is a federal program that forgives the remaining balance of a borrower's federal student loans after they have made 120 qualifying monthly payments while working full-time in public service.

Subsidized student loans do not accrue interest while the student is enrolled at least half-time in school. Unsubsidized student loans accrue interest from the day they are disbursed, regardless of the student's enrollment status.

The maximum amount of money that a student can borrow in federal student loans over their lifetime is $138,500 for undergraduate students and $208,500 for graduate students.

The Department of Education is the federal agency that manages student loans.

StudentAid.gov, FederalStudentAid.gov, and FSA.gov are all federal websites that provide information about student loans.

The Free Application for Federal Student Aid (FAFSA) is the federal form that students must complete to apply for financial aid.