Student loans can be borrowed by a student loan or the parents or guardian of the student to bear the expenses of their studies. The loan can be used to pursue higher education in India or abroad. A student loan is a type of loan that is designed to help students pay for post-secondary education and the associated fees, such as tuition, books, and supplies, and living expenses. It is totally different from other types of loans in the fact that the interest rate may be comparably lower, and then the repayment schedule may be differed.
Benefits of student loans
There are many benefits of the student loan we have described here and a few of them.
Tenure: A school loan with a payback duration of up to 20 years both in-country and out-of-country.
Flexible amounts: An education loan can be used for amounts starting as low as INR 50000 with no upper limit & funding up to 100% of total cost of education including of course fees, living & travelling expenses that may Depends upon one’s need and eligibility.
Quick and Easy Disbursals: Your education loan can be disbursed within 2 days post sanction, additionally it is also be customized to credit successive advances as required by chosen institute.
Pre-Admission Sanction Letter: This is a provisional sanction letter given to the borrower before they secure admission to a university. This letter can be used to provide financial support during the admission process and, for select countries, during the visa process as well. Students can apply for pre-admission sanction letters right after they receive GRE scores.
Secure more than just your fees: An Education Loan helps you cover not only the expenses towards your course fees but also those towards travel and accommodation