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 a form of debt. A debt is anything you owe to someone else. It can be used financially or in a social context, such as 'I am in your debt', which implies you owe the person a favor.
A loan is specifically the lending of money, and the borrower's obligation to repay the loan is therefore a debt.