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?
Loan should be considered as debt because it's still should be paid by the debtor. I don't know exactly how to explain how they are similar but based on my own narrow understanding, yes there are similar in nature.