Getting a student loan can feel like an overwhelming task for both college students and their parents. It's important that you sit down with an expert-- like a high school guidance counselor, a college financial aid professional, or a banker-- to find out what kind of loan you need and how to get it. But in the meantime, here's a glossary of basic student loan terms that will help you figure out what those confusing forms mean.

Consolidation: student loan consolidation is a process that allows students to combine their student loans and make one monthly payment. Here's some more information about student loan consolidation.

Default: a loan goes into default if it hasn't been paid after a given period of time. This can do very serious damage to someone's credit rating and lead to the garnishing of their wages.