This «gap coverage» will cover the unpaid principal amount owed on your lease or loan. (acuity.com)
This means your student loans are collecting interest and adding this interest amount to the original principal amount you owe, even though you are still in school. (bullincaptivity.com)
The best solution is consolidating your debt into one loan, if you can, this will lower your credit card bills and other bills enough that you can pay more on the principal amount you owe. (abcloanguide.com)