123ArticleOnline Logo
Welcome to 123ArticleOnline.com!
ALL >> Education >> View Article

Scholarships Vs Education Loans: What Is The Ideal Choice?

Profile Picture
By Author: Amit Dhakar
Total Articles: 45
Comment this article
Facebook ShareTwitter ShareGoogle+ ShareTwitter Share

The primary reason why we opt for higher education is the very fact that it offers us better job prospects along with a better pay. Just limiting yourself to the undergrads degrees in today’s time is not an option. Lakhs of students pass out with those minimum undergrad degrees and end up into the profiles and packages they never wanted. Getting higher education places you into the top companies and organizations in the country and you are offered your desired salary package.

Problem while going for higher education

But things are not that easy when it comes to getting higher education in India. It so happens that most of the gifted students are not economically capable of arranging the expenses involved in the admission procedure, course fee and tuition fees and such others. Some students who belong to the minority groups manage only till the undergraduate level and stumble when willing to get higher education as it is so expensive, due to sky high education loam interest.

Problem with loan for higher education

So ideally in such a scenario they either have to manage an education loan or a scholarship. ...
... But even here most of them can’t think of availing an education loan, the latter being expensive as well. Most of the banks offer education loan interest which is too high to be afforded by the not so economically well off yet meritorious students.
The major disadvantage of an education loan is the rate of interest. The education loam interest is often too high. When a loan from any financial institute is credited to you, you need to pay back the loan amount that includes an additional interest rate to the original principal. In addition to this, the tenure of repayment can remain between 5 to 10 years. This compels you to remain stuck with the repay formalities for a period more than the period of your higher education’s academic session.

Solution remains in scholarships

What comes as the ultimate solution is the interest free education loan. When we are talking about interest free education loan, we talk about the various scholarships available for the meritorious students. Obtaining a scholarship is far easier than getting your loan for higher education being sanctioned. All you need to do here is maintain high grades throughout your academic sessions, and keep the certificates and mark sheets available. The best part of scholarships is that you earn them in lieu of years of hard work for academic excellence and you never really need to pay back the scholarship amount. It gets granted to you considering your academic merit and that too without any further condition of paying it back.

Scholarships are great add-ons to your resume. With the help of a scholarship you are not only educated under some of the premier educational institutes but you also earn some sort of weightage to your career.

Author Bio :- Dr. Amit Dhakar, Ph.D. in education, is an expert in the education sector. But, he is driven to help students from all classes accomplish their fullest potential. It is no wonder that, in spite of his busy schedule, he writes useful articles about interest free education loans, higher education strategies and more.

Total Views: 128Word Count: 535See All articles From Author

Add Comment

Education Articles

1. What Are The Types Of Writing Assignments?
Author: Nerdy Editors

2. Isaca Certifications: A Wise Decision For A Successful Career
Author: Avan Jack

3. Google Search Console Kya Hota Hai?
Author: Aman Kumar

4. Python Is Again The Top Programming Language Of The Year Jan-2022
Author: Rahul Sharma

5. Capstone Project And Homework. 100% Money Back Guarantee. -essayv
Author: EssayV Writing

6. Ncert Solutions For Class 10
Author: Entrancei

7. All About Us Cma Part-1 Exam | Simandhar Education
Author: Simandhar Education

8. Automation Training In Chennai
Author: J suresh

9. Is The Ielts Certificate Without Exam Verifiable On The Official Website?
Author: Hassan

10. Ielts Test Preparation And Coaching Centre
Author: English Gyan

11. Get Law Assignment Help From 1000+ Experts At An Affordable Cost
Author: Jagjeet Singh

12. 5 Innovative Ideas For Hr
Author: Pankaj Deshpande

13. Seo Training In Bangalore
Author: digitalkorabest

14. Competitive Examinations In India – Key To Sparkle Future
Author: Ayaan Arya

15. Career Opportunities After Bba Course
Author: NIMS

Login To Account
Login Email:
Password:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: