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In todayu2019s time, a post-graduate degree is something that is considered to be very important. Students know that it is very important to pursue further studies in order to get better job opportunities. Unlike earlier times, the job market has now become extremely competitive where students really need to have excellent academic qualifications in order to secure a good job at a reputed organization.
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In today’s time, a post-graduate degree is something that is considered to be very important. Students know that it is very important to pursue further studies in order to get better job opportunities. Unlike earlier times, the job market has now become extremely competitive where students really need to have excellent academic qualifications in order to secure a good job at a reputed organization. However, it is not just only about getting good grades. Another important factor that is taken into consideration is the university that you have pursued your course. This is the reason why so many students try and secure admission to one of the top universities. Now, it is quite a task to get into a good university, as they would not only require a good academic record, but also sound finances since their tuition fees may be quite high.
This is why most students go for an educational loan that will take care of their academic expenses. If you are a student who is wondering whether a loan could really help your case or just become an added burden in the future, then read the following points which will help you understand:
You get numerous repayment options Students have often had an issue with paying back their education loans, mainly because the repayment plan of the loan did not suit them. But lenders know that this can cause a problem for their borrowers, and hence provide them with numerous repayment options so that they can repay their monthly installments without any problems.
Takes care of your academic expenses Paying for all the academic expenses without any financial support can get quite challenging. Without a Study loan, you would constantly be worried about arranging the finances for the next semester’s fees, not to mention the daily living expenses. Worrying about the finances will naturally start affecting your grades since you would not be able to focus on your studies. An educational loan could provide a huge help by taking care of all your academic expenses. With the backing of a loan, you can concentrate your energies on your education since your expenses are taken care of.
Lenders provide a moratorium period to their borrowers A lot of students also worry about how they will repay their monthly installments once they complete their graduation. But do not worry, as lenders provide a moratorium period thanks to which you do not have to start repaying the educational loan immediately after you graduate. The tenure of this period could differ from lender to lender, but it usually lasts for a year after you complete graduation, or it is valid for 6 months if you get employed, whichever comes first. You can avail tax benefits A lot of students do not know this, but if you take an educational loan, you can eligible for tax deductions. According to Section 80D of the Income Tax Act, the interest that you pay on your loan can be claimed as a tax-deductible. We hope this article has helped you, all the best!
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