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Education Loan Why is it Important

Education Loan aims to provide the much needed financial support to deserving students for pursuing higher professional or technical education in India and abroad. The education loan would be provided to those students who have obtained admission to career-oriented courses e.g. medicine, engineering, management etc., either at the graduate or post-graduate level.

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Education Loan Why is it Important

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  1. Education Loan The Need of Hour

  2. What is Education Loan? • Education loan helps you plan for your child's future. • A child education policy product specially designed as a savings tool to provide an amount of money when your child reaches the age for entry into college. • Importance of education loan is understood when you need to go for higher education which costs lots of financial help.

  3. Do I need it? • Helps you properly plan for your further education. • Repayment of the loan starts when the student education ends. • Can help you get higher education needed.

  4. How to Get Education Loan • You can get education loan from any bank or private loan providers. • Banks provide educationalloan on a very less interest rate. Thus more people prefer banks as their first priority.

  5. Benefits of Education Loan • An education loan covers tuition fees, examination fees, hostel fees, books, laptops and other resources, study tours, etc. • You get to enjoy deductible tax benefit. • The repayment is not be made while pursuing the course or even immediately after the course is completed. • The repayment period is extendible up to 8 years.

  6. How to Choose Education Loan When you need to choose education loan you must keep 3 things in mind. • Loan Amount • Interest Rate • Tenure

  7. First you must fix the amount require for Education loan. • Compare various policies and their interest rates (using online comparison site is better and easy). • Check the policy terms and conditions. • Select the policy that best fits your insurance needs.

  8. Thank you Reference: www.axisbank.com www.deal4loans.com www.policybazaar.com www.wikipedia.org

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