Answer:
Consumer Durable Deferred Payment, a loan with almost due to a term whose main target is selling products.
A College Loan, a deferred payment with many extra benefits, federal and private whose target is to help on educating the debtor.
Step-by-step explanation:
Consumer Durable Deferred Payment, when a buyer purchases from a seller. And the seller in his turn does not receive the total payment until the expiration date under the contract. The buyer is, therefore, a registered debtor. For instance, James buys a $ 1,600 fridge. To take it off the store He and the Store have an arrangement for $1000 James takes it home, paying $600, in 2 monthly installments. A deferred payment plan is a loan after something has been delivered.
A College Loan also has a deferred payment plan. Since you're under graduating and the contract expires sometime after you've borrowed. But it has some differences like Federal subsidized plans, differently from forbearance when the student either stop or reduce the values paid, for a determined period. Lower interest rates. There are other benefits like a cosigner, and you can consolidate several loans to pay for the College.
