How to fund your higher studies with an education loan in India?
Nothing can replace the strong pillars of quality education
that helps individual lay a strong foundation of a bright and successful career
in life. Education is the key for a happy life going. However, due to the
inflation, education costs are getting skyrocketing high and it's impossible to
fund your higher studies with little savings parents do for your educational
future. Traditional finances are a kind of trap with exorbitant interest rates,
and therefore, more and more individuals are opting for an educational loan to
cover the study expenses. Education loans are given to meritorious students so
that nothing hinders their progress and achievements in life. Whether you wish
to study in India or abroad in top-notch universities/institutes, loans are
offered to aspirants with hassle-free documentation process, quick disbursal,
lower interest rates, and easy repayment options. Almost every leading private
finance company or bank, government banks are willing to fund students who are
interested in pursuing a wide range of graduate, post-graduate, professional,
MS, doctorate courses/degree at some of the preferred destinations like India,
UK, US, Germany, New Zealand, Australia, and Canada.
For studying in a foreign country, you have to show
sufficient proof of funds in the bank account. Parents always struggle to meet
such huge fund demands and often many individuals leave their hopes to pursue
their dream course. However, to ease the financial burden many leading private
finance companies have come up with customized loan solutions such as Pre-Visa
Disbursement Loan, Pre-Admission Loan, Certificate of Availability of Funds,
GRE score based loan, Bridge loan, fast-track loan etc. which cater exclusively
to students’ particular requirements. It will set them free from any form of
obstacle in their road for career development.
The quantum of expenses covered by the educational loan in India
are not just direct expenses like tuition fees, registration/exam fees, but
also, other allied expenses like books, equipment, laptops, uniform, study
tours, project funding, hostel and mess charges, living expenses and travelling
expense (to a certain extent).
Lenders usually offer a loan with interest rates as low as
11-15% with a mere processing fee on it. There is a special concession of 0.5%
for women applicants on study loans. To be eligible for particular loan amount
lenders will evaluate certain parameters such as Your Age, academic score,
parents/co-borrowers income and credit score, the university, country, currency
rates, and collaterals.
The repayment of your educational loan is generally done in
the form of EMIs. Students should compare their EMIs with the likely salary
based on their dream course. They can determine easy EMIs amount through
different combinations of interest rates, tenure, and principal amount using
EMI calculator available online.
The best part about an education loan in India is, you don't have to immediately start
the repayment. You can make repayments after six months to one year of the
course completion and its termed as moratorium period.
However, experts suggest it’s better to opt for a part-time
job and start repaying the interest rate as it will significantly bring down
the loan costs.
The competition is really stiff and the benefits are passed
on to the end users with features like:
• 100% education
finance
• Unsecured loan up
to Rs 50 lakh
• Fast Door Step
Service
• Repay from Abroad
• No Prepayment
Charges.
Give wings to your dream with 100% funding. Apply for an educational
loan online, now!
Thanks for that Article. It has really helped me understand more about Education Loans In India
ReplyDeleteThank you so much for such an amazing blog.
ReplyDeleteEducation Loan For Students