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What difference between loan and credit?

Ralph Lopez

in Student Loans

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Carlton Burgess on April 25, 2019

Basically they mean the same thing. You can give someone a loan, or allow credit, which means that to lend them the money out of you. However, there is a slightly different use the term "credit" in the accounting there which means increase in value (to reduce in valid is 'debit'). Even more confusing is the term 'creditor' which means 'someone to whom you owe money' (a 'debtor' is 'someone who owes you money).


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