Educational Loan

Have you always dreamed of studying at one of the best universities in India or abroad? If yes, then what is stopping you from learning at those institutions? In most cases, money or to be more precise, the lack of it is what stops students like you from learning at those institutions. To solve this, there is one solution: education loan. And they come with interest rates just like any other type of loan. In this article, you will learn 3 tips to bag a lower education loan interest rate. Calculate the potential expenses carefully - The general rule in education loan: Higher the loan amount, higher the interest rate. Understand this and you can find ways to lower your education loan interest rate. Calculate the funds you would need to study at your choice of college—from the college tuition fees to travel expenses, accommodation expenses, library fees, canteen expenses, and stationery expenses. Once you have calculated all the necessary expenses to the last penny, you will be ...

Education loans help aspirants to learn the trades of their choice in good institutions in India or abroad, and thus, build an exemplary professional career. These loans have been helping students for quite a few decades now. Also, they are becoming accessible and fast due to the widespread acceptance of streamlined loan process practices. Today, all you need to do is simply go online and search for “education loans India”, and you are bound to get a huge list of financial institutions that offer loans. But before you go ahead and apply for an education loan, here are 5 terms that you should be familiar with:- 1.  Unsecured loan A lot of students wish to pursue their further education, but many do not wish to provide collateral to get an education loan. Now, banks mandatorily require collateral from students if the loan amount crosses Rs.7.5 lakhs. This is an amount that is quite likely to cross, especially if we are talking about pursuing an education abroad. This is why many ...

Education loans are a boon for students who don’t have enough money to fund their education. Getting such loans sanctioned is a chore altogether. At times, you may find that the admission process is delayed due to some reasons. Such a situation necessitates you to look for an Instant loan for students. An instant education loan is a regular loan that takes lesser time than usual to be processed and disbursed. This article will help you to understand the process of securing an Instant education loan for yourself. 1.     Keep the potentially required documents handy - Keep the documents you would need to apply for an instant loan for students ready. This will ensure that the process remains smooth and fast from your side. The documents you would need for applying for an education loan instantly include: 1.       A filled loan application form. 2.       Couple of passport-sized photographs. 3.    ...

  With today’s fast-paced world, there is a lot of competition in each and every field. In order to make a strong impression in front of companies, you need to have a strong academic background. This is why many students plan on pursuing their further studies. This boosts their chances of securing good jobs with decent packages. However, pursuing your further education is no easy decision. This is not just about studies, but also about the expenses. Education expenses can sum up to quite a large amount, even more so if you are thinking of pursuing an education abroad. The most common way to deal with these expenses is to apply for a study loan. However, a lot of borrowers are worried about the high interest rates that lenders would charge. But do not worry, there are ways you can get lenders to offer you lower interest rates too. Here are 3 ways you can effectively lower the interest rate of your study loan: 1.     Do not wait for the moratorium period to end ...

  It is very common for students to apply for education loans to complete their further studies. Nowadays most of the good universities charge a high tuition fee. If you have to pursue your education abroad, your expenses would be much more. For most students, the only way to make this possible is to apply for an education loan. With such loans, their academic expenses are taken care of and they do not have to worry about anything. Everything till this point seems to be pretty smooth-sailing. But once students complete their graduation, it is then time to start paying EMIs for the loans they have taken. That’s when the complications start. But this certainly does not have to be the case for you. With a few smart tips, you can repay your loans with no problem at all. So, let us take a look at some of the quick ways you can repay your education loan: Stick to an organized budget Most borrowers who struggle to repay their loans have a common reason – not focusing on their budg...

An education loan interest calculator is also known as an EMI calculator. It is an extremely useful tool that can help you create streamlined repayment plans and ensure you have a smooth borrowing experience. However, despite this, not many students are aware of these innovative online calculators. Keeping this in mind, the following article will attempt to build awareness around these helpful tools by explaining what they are, how to use them, and the benefits of using them before you apply for a loan. So, what is an education loan interest calculator? As mentioned earlier, an education loan interest calculator is better known as an EMI calculator. It is a simple yet extremely powerful online tool that calculates the equated monthly installments of your education loan. A good EMI calculator will also tell you the break-up of the interest amount & the principal repayment amount of each EMI along with the total interest payable. That’s why the EMI calculator is also known as an ...

Opting to study abroad is one of the best decisions you’ll ever make. It will help you pole-vault your way into better paying jobs and a higher standard of living. The only hurdle you need to overcome is the cost of an overseas education. Well, this is where study loans for abroad can lend a financial helping hand. They will plug your financial gaps and ensure you can pursue your dreams without any monetary worries. However, there are several options available to you as far as lenders and loan options are concerned. While a wide spread of choices is always good, choosing one loan from all available options can be trickier than you expect. Keeping this in mind, the following article will list 4 important features to watch out for when looking for a good overseas education loan. 100% finance for course fees. This is one of the most important features you should look for when comparing study loans for abroad. Course fees in foreign universities can be extremely costly. They are also...

Interest rates are probably one of the most important factors for students looking to borrow money for their education. Not without reason – the interest rate of the loan is like a price tag – which is the first thing we check when we buy most other goods. Keeping this in mind, the follow article will go over some important pointers related to education loan interest calculations that will help you tackle to cost of your loan with ease. What is the current education loan interest rate? Currently, education loan interest rates range from 10% to 16%. However, the interest rate applicable on your loan will depend on several factors such as your choice of lender, the amount of money you are borrowing, your loan worthiness, your co-borrower’s financial record, the course you are pursuing, its job prospects, etc. How to get lower interest rates? This is one of the most common questions amongst student borrowers. After all, who doesn’t want the lucrative savings of a lowered interest...

Educational loans are a student’s best friend! They provide invaluable financial assistance and help aspirants pursue their dreams without worrying about the cost. However, there are quite a few students who are sceptical about these loans and doubt their usefulness. Keeping this in mind, the following article will highlight 5 major costs that education loans can help you cover. Hopefully, this will shed light on the amazing utility these finance solutions provide to students. 1.     Course fees: This is one of the first and most obvious education-related expenses that you can cover with a students loan . Once your admission has been confirmed and your educational loan is approved, the lender will directly transfer the course fee amount to the university or college you have applied to. 2.     Travel & living expense: In case you apply for an overseas course, then you also need to cover travel & living expenses too. This can be quite difficult cons...

  Education loan eligibility is a crucial aspect of any student loan. It’s something that needs to paid special attention to before sending in your loan application. Keeping this in mind, the following article will tell you everything you need to know about student loan eligibility, including what it is, how to calculate it and even how to improve it. So what is student loan eligibility? Education loan eligibility is a two-part process that determines firstly whether you are eligible to take the loan and secondly the amount of loan you are eligible for. To make it through `part 1 of the education loan eligibility, you need to: -Be a citizen of India and above the age of 18 -Have a confirmed admission in the college or university you plan on studying in -Have a co-borrower that is also an Indian citizen above the age of 18. -Your co-borrower should have bank account that allows him/her to issue cheques. If you tick all these boxes, you can move onto part two of educati...

Students that dream of getting a job in a multi-national company today need to complete their further education. With there being so much of competition in every field, a post-graduate degree becomes more of a necessity. The academic degree of a candidate makes a strong impression on the company that is interviewing them.  Not only this, but even the university that they have studied at has a big impact. Companies are more likely to recruit students that have passed out of reputed universities. This is why many students try and secure admission to one of the best universities in order to improve their career prospects. But as we all know, being able to afford the university fees is not an easy task. If you are aiming for a top university, then your expenses would increase since the tuition fee of such a university would obviously be more than what a normal university would cost you. These expenses would be much more in case you are looking to pursue your education from abroad, in...

In order to pursue quality education, many students aspire to study at top universities. As the fees of such universities are often unaffordable, aspiring students often rely on education loans to finance their courses. Taking an education loan is easy, but you need to be very careful to avoid certain common mistakes that many others make. To help you out, here are 4 mistakes that you must avoid while taking a student education loan. Manipulating your application Bluffing on your student loan application is the biggest mistake you can ever make. Remember that the lender does a background check on the information you provide them with. The university you have got admission to may also carry out a check of your course financing. If you are caught lying, you will not only lose out on the loan but also on your admission. You may also have to pay a fine for giving fake information. So, it is advisable to give out genuine information when applying for a student loan. Not considering...

Repaying your education loan can seem a little overwhelming. Do not worry for you are not alone in feeling this way. A lot of college students feel the weight of debt hit them hard when their first education loan EMI is suddenly due. Now, there is no quick fix that can help you to repay your debt faster. However, by a little bit of guidance can go a long way in ensuring you do things the smart way. To that effect, here are some tips to help you to pay your education loan EMI efficiently. 1.      Take advantage of the moratorium period When you take an educational loan, the bank or financial institution grants you a grace period called moratorium. This period begins after the completion of your course. Your education loan EMI does not start until the end of the moratorium. This grace period is handed out by the lender so that you can find a job and become financially independent. Now, it is advisable to begin paying off some of the interest of your loan during th...