Education loans

Student loans are installment debts, with special features. In the U.S., student loans are typically delayed payment programs. While the student is attending college or graduate studies, no payments will be due on the student loan.
When the student ceases his or her formal studies, however, loan payments will normally begin after a six-month grace period. It is assumed that the borrower will have a found a steady job within this time. However, some student loans do allow extensions of this grace period. Mortgage lenders will sometimes omit student loan payments from consideration if payments will not be beginning in the next 12 months.