Chase Your Dreams Of Higher Education With Education Loan

By Author: anaya shroff
Total Articles: 2
Comment this article

Our country is the land of scholars and teachers from the ancient period, education is considered one of the four pillars of an established society. The scenario has not changed till date; it has been enhanced with addition of various courses and field of studies. Whenever you type ‘education loans’ in the Google search bar, you get list of courses in various streams and the institutes offering the courses for higher studies. Along with the addition of various courses, the expenses of higher studies have also increased.

The government policies help the students to get the basic education, but, higher studies in specialized field calls for handsome amount of money. To deal with this financial crunch that most of the middle class & lower middle class faces in pursuing their higher studies; banks & non-banking financial companies have come forward to give education loans to the aspirants.

The basic education in India from the central universities is affordable, but the courses of medicine, engineering, management, aviation, etc absorbs lump sum amount. It’s not easy for a normal family to bear the higher ...
... studies expense of their child, especially if they are pursuing the course from any premier institute or a professional course. Your search of ‘education loans’ would take you to the education loan for sponsoring your higher studies. Once you have secured admission in the course you are willing to study, the financers offer you education loan for the course fee & other education expenses and the accommodation charges. This loan helps the student to pursue the course without tension of installments required to continue the course. Most of the financers directly disburse the course fee loan amount in the concerned institute account.

The interest rates are reasonable and floating in nature, it generally depends on the course profile of the aspirant and credit score of the borrower, in case the loan applicant has one and doesn’t have any credit score card earlier. Some non-banking financial companies offer 100% of the course fee at floating rate of interest. If all the documentation is in order, then they pass the loan within a week, helping the aspirant to lock their seat in the concerned institute in time.

What makes the education loan most preferable option, over selling or mortgaging the property is the quick disbursement and flexible repayment options. Though the aspirant has to pay the interest amount from the time of loan disbursement, but they have the time to prepare themselves to get a job and start the loan repayment after the moratorium period. If they want they can start repaying the EMIs immediately after the first installment of the loan amount.

The financers provide concession on the interest rates for the female aspirants and the meritorious students, to motivate them. Some financers even provide lump sum amount for the education loan without any collateral. These tailor made study loans are proving to be the boon for the aspirants, who works hard and dares to chase the dreams of aspiring in life and create their identity.

Hope your ‘education loans’ search has been properly justified in this article, it is suggested to go through the online sites of the financers properly before taking the loan for your higher studies.