study loan

1. Complete Information about Study Loan A study loan is a loan that is offered by banks and non-banking financial companies (NBFCs) to students who do not have sufficient funds to pay for their higher education. Those students who are exceptional in academics get a very attractive rate of interest. A study loan is for students who want to study either abroad or in India. A study loan gives students the opportunity to get a higher or professional education and have a bright future. A study loan is an expensive loan but provide financial support to the student who opts for one. Apart from the course fee; the library fees, examination fees, etc. are also covered under a study loan. This article will give information about a study loan. Eligibility: a)The student who is applying for a study loan needs to be a citizen of India. b)The student must have gotten admission for a higher education degree in renowned institutions in either India or abroad with the help of an entrance test such as TOEFL, IELTS, SAT, etc. c)If the student is exceptional in academics, banks will grant a study loan even if the student has gotten admission through the management quota. Course eligibility: a)Approved courses in India include ICWA, CA, CFA, aeronautical training, pilot training, graduate/post graduate degree, and PG diplomas that are offered by recognized colleges and universities, IIM, IIT, and NIFT, amongst other courses. b)Approved courses for study abroad are technical courses, post- graduation such MCA, MBA, and MS, amongst. Eligible expenses: a)Books, equipment, etc. But the expense cannot exceed 20 percent of the loan. b)Fee to the educational institute.

2. c)Exam and library fees. d)Travel fees such as flight tickets, bus tickets, etc. e)If the student requires it for the completion of his/her studies, he/she may purchase a laptop or a computer. Features of study loan: a)There is a moratorium period. The moratorium period is the period wherein the student does not have to pay back the loan. The repayment period starts year after the student has completed his/her degree or 6 months after employment, whichever comes first. b)If the study loan is less than INR 4 lakhs, a guarantor is not needed. c)In case of higher education in India, the minimum loan offered is INR 10 lakhs and maximum INR 15 lakhs and the maximum limit for study abroad is INR 20 lakhs. d)The course type and the total income of the family are considered when approving or rejecting the study loan. e)Female students get discounts and lower interest rates when applying for a study loan. Benefits: a)Students are able to achieve their dreams. b)The tenure is flexible and can be extended to 5 to 7 years after completion of the course. c)If the study loan amount is small, collateral is not necessary. d)Expenses apart from tuition are also covered under the study loan. We hope this article was helpful! Facebook:-https://www.facebook.com/AvanseEducationLoan/ Twitter:-https://twitter.com/avanseeduloan Youtube:- https://www.youtube.com/channel/UCcsuUx1EH1C08XmX2e mbpug Instagram:- https://www.instagram.com/avansefinancialservices/