There are lot
of students who are dreaming about higher education, it includes students who need
Education Loan and those who have strong financial background and they don’t
need any. May be some of them wants to get higher education from best
Institutes in India and some student wants to get higher education from foreign
countries. There are lot of students who are unable to get higher education or
dream of many students getting higher education gets spoiled because of the
reason “Money”. Yes when it comes to get higher education from best institutes
or from foreign countries it really cost you an big course fees.
There has
been a huge increase of 29% in the number of students from India studying In
USA In the year 2015.This shows that students In India are having the dream of
getting highly educated. Lot of students just keep their dream aside and start working
only because of the reason that they are not having enough money to spend for higher
education. Loan for education is one of the main important thing that plays and
important role in a student’s life for achieving their dream. There are many
private sector banks and public sector banks in India competing themselves by
giving best offers in this.
Getting Loan
for education is one of the huge opportunities for students to achieve higher
education, where they no need to spoil their dream of getting higher education
for the reason that they are not capable of paying such a huge amount of course
fees. Giving loan does not mean that bank gives the entire amount incurred for
completing course. There is amount limitation that May vary according to some
banks and their promotional strategies. The bank will pay you either the full
amount of course or the maximum limit of amount allowed by bank, whichever is
less.
The amount of
cost covered under the Education Loan includes Course fees, Library fees,
Hostel fees, travelling fees, examination fees, any deposit needed in
Institution for joining, Two wheeler for student(not available with all banks).
etc.
Some Of the Main Education courses covered Under This Bank Loan are:
Courses covered to study in India:
Graduation, Post-Graduation
, Diploma course, Studying IIT, to Study in IIMS, NIFT, ICWA, CA, CFA, Nurse
Training , Teacher Training, These are some of the courses which loan for
education will be granted to study in India. And you can go through the bank
websites of the bank which you like to take a Student loan for more details and
courses
Courses covered for getting bank loan to study abroad:
Professional
Courses, Post-Graduation Degree courses like MBA, MCA, MS, MSC. Diploma
courses, some certified courses in UK and USA etc.
Some banks
are even providing bank loans for school education. And as per now the student
will get loan from banks starting of education till the student completes his higher
education.
Repayment Procedure for Educational Loans:
Most of the
student will be worried about the repayment options of the bank loan, if you
are planning for a best course and if you believe that it surely will give you
a good future, and then no need of worrying as the loan for education has the
easy way for repayment.
A) You can start
repayment of your Education Loan after the completion of Course. (no need to
worry - Feel relaxed and concentrate on studies)
B) You can repay
the loan with the maximum of 15years of repayment tenure and it depends on the
amount you have taken as loan.
Note: Even you get central government subsidy on
Education Loan. (Kindly get more details about this from
the bank before you apply)
Amount of Interest:
The
percentage of interest varies in different banks. Kindly confirm the offers
from as many banks possible before taking an bank loan so that you get the best
offers in the market
You get more details of
some best loans for education from various banks in India.
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