Key Benefits of Taking an Education Loan to Study Abroad or in India

1. Key Benefits of Taking an Education Loan to Study Abroad or in India The quality of education plays an important role in shaping the future of a student. Hence, many students take education loans every year to get the best education from reputed universities. There are many advantages of taking this loan, whether you want to take an education loan to study abroad or in India. Following are some of the major advantages of an education loan: - 1.Offers Tax Benefits If you take an education loan in India, you can avail of tax benefits. It is one of the major aspects that make education loans a preferred choice over self-financing. Students who are applying for education loans can get deductions on interest paid under Section 80E of the Income Tax Act of India. These deductions can be claimed till the interest on the loan is fully repaid.

2. 2.Improves Credit Score Having a good credit score can be a crucial factor in the future for your financial demands. This can be raised if you apply for an education loan and follow the repayment terms carefully. A person who has a good credit score can have ease in approval of loans and credit cards. Having a low credit score can be linked to economic instability. About Avanse Financial Services Avanse Financial Services is one of the leading non-banking financial companies that offers financial aid for students in India. Students can take loans for higher education and also get short-term loans or loan refinancing. Avanse Financial Services also provides loans to young professionals for skill enhancement courses and executive education. Additionally, educational institutions looking for funds for improving infrastructure and operational expenditures can also avail of loans from this non-banking financial company. Website: https://www.avanse.com/