Fund your education with better education finances

In India, it’s a herd mentality that we feel our parents will pay for our education. But, you should be aware that education costs is creeping each day, inflation is an added burden on people and with the handful of savings your parents have,  it will become next to impossible to finance your higher studies that are super expensive especially the professional studies. Instead, there are better solutions like education loan that will take complete care of your higher studies whether in India or abroad. It makes you become self-independent and gives confidence in shaping up your career in your desired way. Secondly, it makes your parents relieve from unnecessary burden of traditional finances and loans that come at very high costs, with stringent measure of repayment. 

Education loan

Today, education has been commoditized and studying from top-notch university, B-school or law is surely going to costs you lakhs of rupees in this highly inflating economy.  Student insists on studying abroad is because professional skills are added in your portfolio and gets you a replacement for a good desk job. But there is a great price attached to it in achieving this and education loan provides the right platform for an individual to achieve the dreams of life.

This loan is form of credit advanced to scholars and students. It is designed to help students to pay their college tuition fees, books, laptops, hostel or accommodation charges, and other living expenses including travelling costs for foreign studies as offered by some of the leading private finance firms in India.

Every banks or private finance firm has its own norms and qualification process to pass the education loan. In today’s rising costs time, every individual faces own set of problems such as a visa clearance, fund approvals, slow loan processing, incomplete finances etc. While taking admission in foreign university students have to show sufficient proof of funds. If you don’t have these funds your admission is likely to get cancelled. Therefore, some of the leading private finance firms have come up with unique and friendly solution for customers such as Pre-Visa Disbursement Loan, Pre-Admission Loan, Certificate of Availability of Funds, GRE score based loan, Bridge loan, fast track loan etc. which cater exclusively to students’ particular requirements and set them free from any form of obstacle in their road for career development.

Private Finance firms & government banks offer customized loan solutions after taking a holistic view of the student as well as the co-signer and security, if any, for the loan. Meritorious students are given the option of availing education loan without any security for select courses and countries. Various flexibilities and features with co-signer and collateral norms assist student get better access to financing that would otherwise be hard to obtain. They have a dedicated research wing that keep up with various developments and nuances of the dynamic education sector globally; this translates to underwriting innovation via which they can project the future career trajectory of students. Such innovations and domain knowledge simply means smarter financing options for smart Indian student section.

While government banks demand for margin money of around 15-20% of the loan amount to approve study loan, some private finance firms give loan at no margin money costs. The interest rates offered are as low as 12.75% and the processing fee is mere 1-2% of the loan amount being calculated on a case-to-case basis. They design study loans without setting any cap on finance and provide 100% coverage of education costs, making such young talents of India free from unnecessary burdens.

When it comes to repayment these banks or private firms come up with flexible payment options such as EMI payment course, Interest servicing during course & partial interest servicing during course, EMI repayment Post-Holiday /Moratorium period and Step Up repayment facility. You can look these options and then decide the repayment as per your flexibility. However, repayment is also one of the important part of education loan financing and you need to clear the debt associated with your loan. As this is the best helping hand that you get during your rainy days of searching finances for your higher studies.