A loan is a type of debt. Like all debt instruments, a loan entails the redistribution of financial assets over time, between the lender and the borrower.
In a loan, the borrower initially receives or borrows an amount of money, called the principal, from the lender, and is obligated to pay back or repay an equal amount of money to the lender at a later time. Typically, the money is paid back in regular installments, or partial repayments; in an annuity, each installment is the same amount.
Never before has access to loans been as easy. Several recent developments in banking infrastructure (coming of age of the credit bureaus and increasing ease of cheque settlements across locations) are aiding the ease of availability of loans. The Classification of loans is based on the purpose for which money is being raised.
Special education generally refers to students who are differently-abled. However, it can also refer to students who require special education needs in other ways
