Studying abroad is quite popular in today’s age and time. Millions of students aspire to visit foreign nation such as USA, UK, France, Canada, Australia, New Zealand, Ireland, etc. to pursue their dream course in premier universities/institutes. Living in a foreign nation is an enriching experience, and lets you broaden your views about the global culture, economy, and social aspects. International education adds strong value to your academic portfolio, and you can bank a job in top MNCs, organizations, or represent our government sectors on global platforms. Else you can also start a business and be a successful entrepreneur.
But due to the skyrocketing price of higher studies many aspirants, every year fail to fly abroad in spite of securing admission in these prestigious universities/institutes. The costs are so high that even the richer section of the society needs to think twice before they send their son or daughter to a foreign university. So, it’s obvious that for the average middle class it would be tussle task to arrange such as huge sum to turn their child’s educational dream into reality.
You might have a scholarship or another funding source such as investment returns, etc. but it is highly impossible to cover the entire education costs such as tuition fees, hostel and mess accommodation, airfare expenses, living expenses, educational tours, project funding, laptops, books and stationery, and other daily university expenditures, through these limited sources of finance.
One of the ideal ways is, to opt for Education Loan in India from any of the reputed banks or finance companies from India to fund your educational dreams. There are top lenders who would offer unsecured loans up to Rs 50 lakhs with an instant sanction in mere 24 hours! They come up with customized loan solutions such as pre-visa disbursement, pre-admission, fast track loans, scored based loans, wider country coverage, etc. You need to discuss with the lenders, and they will offer you a suitable solution based on your academic score, income source of co-borrower and the repayment capacity.
Private lenders offer educational loans with interest rates as low as 11-13%, with a mere processing fee on it. Women applicants are given a concession of 0.5% on the rates.
While picking up the Best Education Loan lender, it would be wise you compare the rates of different loan lenders and conclude which lender is convenient for you. Other than interest rates, you can compare the processing fee, pre-penalty charges, and other late penalty charges as well.
Go for a lending firm that would consider your priorities and provide you education loan as per your repaying capability and flexible EMI solutions.
Since these loans are provided to students they don’t have to start making immediate repayment. The applicant doesn’t have to repay the money during the course term. It further extends from six months to one year of the course completion until the applicant finds a suitable job. It is termed as moratorium period.
Online comparison sites will let you compare apple-to-apple, from top lenders across India and help you pick the best education loan as per your funding needs and affordability to make easy loan repayments.