NEWS & ADVICE : EDUCATION LOANS
Complete guide to education loans in India
By Vaibhav Aggarwal
Print    Email    RSS   

The rising cost of higher education has become a big cause of worry for students and parents alike. How will one be able to fund the huge expense required for professional courses is the prime concern for people seeking to increase their qualifications. If a student is seeking to go abroad for pursuing higher studies, the costs are far greater as compared to studying in India. An education loan to pay for the high tuition fees and other associated costs is fast becoming a need for an ambitious student.

What is an Education Loan?

Education loan is a special purpose loan given by banks and financial institutions to cover the cost of any higher degrees or specialized courses. The education loan provided by banks in India cover the fee Payable to the College, School or Hostel. It also covers the examination fee, library fee, lab fees, caution deposits, refundable deposit asked by the institution. Building fund supported by Institution bills or receipts, Purchase of Books, equipments, instruments, uniforms, Travel expenses/passage money for studies abroad, purchase of computers - essential for completion of the course and any other expense required to complete the course - like study tours, project work, thesis, etc are also covered.

Courses and institutes that can get education loans

Banks provide great financial help needed to cover almost all the expenses incurred for a successful completion of the desired course. Banks in India now cover a wide spectrum of courses in their education loan schemes. Catering both to under graduate and post graduate courses, banks readily provide education loans for management, engineering, medicine, MCA, fine arts, designing, architecture, hotel management, agriculture, pure sciences, arts and commerce courses. Banks do consider the reputation and affiliation of institute from where the course is being conducted, before giving any educational loan. Indian banks while providing education loans require that the applicant must be a resident Indian having secured admission in any of the bank's list of approved course or universities. Whether you get 100% of the cost of education as education loan or not, depends on individual banks.

Other qualifying criteria of education loans in India

Anyone between 16-30 years of age, who qualifies otherwise can get an education loan from banks in India. The amount of loan provided by banks depends on many factors. Professional courses like management, engineering, medicine etc. will be give higher loan amounts as compared to B.A. or M.A. This could be due to the higher employability and cost of education in the former case. Secondly, if you are pursuing a course abroad you are likely to get a bigger educational loan as compared to courses with Indian universities. Bank readily provide loans up to 15 lakhs for studies abroad, while they can lend up to 7.5 lakhs for courses within India. The third factor that decides the quantum of loan is the collateral offered with education loans. Yes, every education loan of a higher denomination is a secured loan. This means that the person taking loan must provide some guarantee, usually provided by a guarantor who can be a parent or guardian of the student.


Page  | 12 |  
(Comments Posted : 388) Post Your Comments
1. A BIG THANK YOU EDWARD JONES LOANS {Jonesloanfinance@yahoo.com}
With a thankful heart i appreciate all you have done, my names are Nathan MacDonald, i was really in financial difficulty which affected my life negatively and my company savings was seriously depleted and we needed help but no one could help us out even the company direct main bank could not even risk to help us because we were at bottom low. My life was a mess and my wife needed a devious, I almost went mad, then decided to look for one way or the other to revive my company but no one was willing to help until i got to know about a prestigious loan company Edward Jones Loan Finance, whom have helped a lot of aliening company in the past and assisted a lot of individual financial. So i decided to request for help and to my greatest surprise they were just as everybody were talking about. they helped me with my loan with a very low interest rate of 2% and now my life is back to normal and i still got back my wife and kids. Am very thankful with the help of Edward Jones Loan Finance and if you are looking for a way to get a loan for one means or an other , your best choice is Edward Jones Loan Finance and you can contact them via email : {Jonesloanfinance@yahoo.com} or Text +1(307) 241-3712
Nathan MacDonald (Posted: Jan 18, 2017)
2. DO YOU NEED A LOAN TO START A BEFITTING NEW YEAR!!!!!!


Compliments of the day,

Are you a business man or woman? Do you need a loan to start up your own business? Do you need a loan to settle your debts

or pay off your bills? Do you need funds to finance your project? We Offer guaranteed loan services of any amount
Please contact us for your secure and unsecured Loan with an Interest rate of 2.00%, Interested applicants should Contact us via email: (dr.powellgarcialoans@gmail.com) or (dr.powellgarcialoans1@solution4u.com)

Are you a business man or woman? Are you in any financial mess or do you need funds to start up your own business? Do you need a loan to start a nice Small Scale and medium business? Do you have a low credit score and you are finding it hard to obtain capital loan from local banks and other financial institutes?. solution to your financial problem is Dr. Powell Garcia Our program is the quickest way to get what you need in a snap. Reduce your payments to ease the strain on your monthly expenses.

**Are you financially squeezed?
**Do you seek funds to pay off credits and debts?
**Do you seek finance to set up your own business?
**Are you in need of private or business loans for various purposes?
**Do you seek loans to carry out large projects?

We offer a wide range of financial services which includes: Business Planning, Commercial and Development Finance, Properties Mortgages, Home loans, business loans, bad credit loans, commercial loans, start-up- working capital loans, construction loans ,car loans, hotel loans, student loans, personal loans, Debts Consolidation Loans with low interest rate at 2.00%

Yours Sincerely,
Dr. Powell Garcia
(dr.powellgarcialoans@gmail.com) or (dr.powellgarcialoans1@solution4u.com)
Dr. Powell Garcia (Posted: Jan 16, 2017)
3. Do you need Financial Assistance?
Do you seek funds to pay off credits and debts?
We give out loan with an Interest rate of 2.00%
Please, contact us for more information: (dr.powellgarcialoans@gmail.com) or (dr.powellgarcialoans1@solution4u.com)
Please contact us for your secure and unsecured Loan at an Interest rate of 2.00%, Interested applicants should Contact us via email: (dr.powellgarcialoans@gmail.com) or (dr.powellgarcialoans1@solution4u.com)

Our commitment is to make business ownership a viable career for individuals who struggle to raise finance.
We provide affordable loans and mentoring to help these individuals to start up and succeed. We offer low-interest personal loans to help fund your business ideas and free businesses support to give you the confidence to succeed.

We offer a wide range of financial services which includes: Business Planning, Commercial and Development Finance, Properties and Mortgages, Debt Consolidation Loans, Business Loans, Private loans, Home Refinancing, Hotel Loans student loans with low interest rate at 2.00%
If you are interested to get a loan then kindly write us with the loan requirement.

Please, contact us for more information: (dr.powellgarcialoans@gmail.com) or (dr.powellgarcialoans1@solution4u.com)
Yours Sincerely,
Dr. Powell Garcia
(dr.powellgarcialoans@gmail.com) or (dr.powellgarcialoans1@solution4u.com)

We look forward to hear from you ASAP

Interested applicants should Contact us via email: (dr.powellgarcialoans@gmail.com) or (dr.powellgarcialoans1@solution4u.com)
Dr. Powell Garcia (Posted: Jan 11, 2017)
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
Collateral and co-applicant requirements...
Carnival of Indian Personal Finance Blogs #1
The best education loan from banks in...
Carnival of Indian Personal Finance Blogs #2
Bank loans that could glitter for you


ROPAR: CaℒL Giℛℒ In Kurali 09855660911...
Why Pitampura Tutors (Ph:- 9911742311) & Private...
kala jadu in hindi 9636854282

NEWS THIS WEEK
Banks to look forward to hire students from IIT/IIM Feb 18, 2015
Union Bank of India hiring for the post of specialist officers Feb 16, 2015
Canara bank launched scholarship Scheme Feb 13, 2015
AXIS bank started ‘My idea of progress’ Campaign Feb 12, 2015
RBI inviting applications for the guard post Feb 11, 2015
News Archive