I'm unable to find a precise classification and/or similarity between the two words - debt and loan. Should we consider debts (where people are helped financially or in a way they want that help - and they need to pay it off either in instalments or at a go, be it through paper money or by any other means according to the agreement) as loans OR Is there anything that could help us classify both these terms and show some dissimilarities and differences between them?
A loan is the act of lending someone money with an agreement for them to repay in the future. The loanee (receiver of the loan) is indebted to the loaner. AKA they owe them a debt. Therefore receiving a loan also means you have debt.