Basically, there are  similarities between Debt and Loan. Both are liabilities that need to be paid off. Loan represents an amount borrowed by an individual to meet his/her requirements, where as Debt represents an accumulative amount a person can be borrowing from a lender. It could be confusing to spot the difference between the two terms, cause of this similarity, it is however important to classify Loan as a form of debt for the sake of clarity.