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?
Suppose one person needs $10k from a Bank and the fund is granted to the person by the bank. This will be the loan given to the person.
Second term used by you is Debt; it is the total amount the loan granted + interest applied there on.
So debt means Loan granted + amount of interest.
Also when the repayment starts then Loan granted + amount of interest - (minus) the installments repaid by the person (availing loan from the bank) to the Bank (the financier).