Sponsored repayment

Sponsored repayment is when someone else pays for your debt. Let's say you borrowed some money from your friend to buy a toy. But you don't have enough money to pay back your friend. So, your mom or dad comes in and says they will pay for you. They are now sponsoring your repayment.

Similarly, sometimes employers offer sponsored repayment programs to their employees. This means that they will help pay off their employees' student loans. So, if you have a job and you owe money for your education, your employer may offer to pay some or all of that money back for you. This helps you save money and makes it easier for you to pay your bills.

In summary, sponsored repayment means someone else is paying your bills for you. It's like having a superhero come in and save the day!