Repayment means giving back money that you borrowed, or returning something of value that someone gave you. When you borrow five dollars from a friend to buy lunch, repayment happens when you give those five dollars back. When your parents take out a loan to buy a house, they make monthly repayments to the bank until the entire amount is paid off.

Banks and lenders care deeply about repayment schedules, the specific plan for when and how much will be paid back. If you borrow money for college, you might have a ten-year repayment period.

Repayment isn't always about money. When someone does you a big favor, you might feel you owe them repayment in the form of help or kindness. If your neighbor watches your dog while you're away, you might offer repayment by mowing their lawn or helping with a project. This kind of repayment keeps relationships balanced and fair, showing you appreciate what others have done for you.