Each type of loan differs in terms of many factors. One of the important factors is installment scheme. Different kind of loans give customers different installment schemes. Generally in personal loans, home loans and many loans like these, installments start immediately after the loan has been approved.

But student loan is a special kind of loan in which, student takes loan to complete his/her studies (graduation or post graduation). And the installments start right after the studies are finished. It does not matter whether he has got the job or not, installments are to be paid in any way. The amount of each installment is decided at the time of approving loan, depending upon the scheme which a student is selecting. And depending on many loan schemes in case of consolidation of loan.

By the time the studies are going on and student is not paying the installments, he has to pay only the interest on the total amount he has borrowed. As soon as installments start, the interest amount is to be paid with the installments.

It is to be noted that even if the student has enough amount of cash to pay installment during his studies are going on, he can not pay that. In turn it is made mandatory and  compulsory to pay interest at least till the education is over. And after that till the time the total amount has been paid back.