The four numbers that define any loan

Whatever the product is called, four numbers describe it. The principal — how much you actually draw, which is often less than the sanctioned amount. The interest rate, and crucially whether it is fixed or floating. The moratorium — the period during study when you may not have to repay, and whether interest still accrues through it. The tenure — how many years of repayment follow.

Ask for all four in writing. If any one of them is described only verbally, you do not yet know what you are being offered.