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 : 481) Post Your Comments
1. Getting a legitimate loan have always been a huge problem To clients who have financial problem and need solution to it. The issue of credit and collateral are something that clients are always worried about when seeking a loan from a legitimate lender. But.. we have made that difference in the lending industry. We can arrange for a loan from the range of $2,500. to $500,000.000 Our Services Include the Following: Debt Consolidation Second Mortgage Business Loans Personal Loans International Loans Auto Loans Family loan Loan for any kinds E.T.C Email: ibrahim.mueenloanfirm@gmail.com
+918130447108 (Call/Whats app)
ibrahim (Posted: Oct 13, 2017)
2. WE OFFER ALL KIND OF LOANS - APPLY FOR AFFORDABLE LOANS.

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?. Interested applicants should Contact us via email: PergoCF@cheerful.com ( PergoCF@qualityservice.com ) PergoCF@gmail.com

Our loans are well insured for maximum security is our priority, Our leading goal is to help you get the services you deserve, 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. Gain flexibility with which you can use for any purpose from vacations, to education, to unique purchases. Interested applicants should Contact us via email: PergoCF@cheerful.com ( PergoCF@qualityservice.com ) PergoCF@gmail.com

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 Loans with low interest rate at 1.00% per annul for individuals, companies and corporate bodies. Get the best for your family and own your dream home as well with our General Loan scheme. Interested applicants should Contact us via email: PergoCF@cheerful.com ( PergoCF@qualityservice.com ) PergoCF@gmail.com

WE OFFER ALL KIND OF LOANS - APPLY FOR AFFORDABLE LOANS.

Please, contact us for more information: PergoCF@qualityservice.com ( PergoCF@gmail.com ) PergoCF@cheerful.com
Kindly write us back with the loan information;
- Complete Name:
- Loan amount needed:
- Loan Duration:
- Purpose of loan:
- City / Country:
- Telephone:
- How Did You Hear About Us:

If you are interested to get a loan then kindly write us with the loan requirement. Please, contact us for more information: PergoCF@qualityservice.com ( PergoCF@gmail.com ) PergoCF@cheerful.com
Yours Sincerely,
Mrs. Ceren Kelly
PergoCF@gmail.com
PergoCF@qualityservice.com
PergoCF@cheerful.com

We look forward to hear from you ASAP

Interested applicants should Contact us via email: PergoCF@cheerful.com
PergoCF@gmail.com (Posted: Oct 10, 2017)
3. WE OFFER ALL KIND OF LOANS - APPLY FOR AFFORDABLE LOANS.

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?. Interested applicants should Contact us via email: PergoCF@cheerful.com ( PergoCF@qualityservice.com ) PergoCF@gmail.com

Our loans are well insured for maximum security is our priority, Our leading goal is to help you get the services you deserve, 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. Gain flexibility with which you can use for any purpose from vacations, to education, to unique purchases. Interested applicants should Contact us via email: PergoCF@cheerful.com ( PergoCF@qualityservice.com ) PergoCF@gmail.com

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 Loans with low interest rate at 1.00% per annul for individuals, companies and corporate bodies. Get the best for your family and own your dream home as well with our General Loan scheme. Interested applicants should Contact us via email: PergoCF@cheerful.com ( PergoCF@qualityservice.com ) PergoCF@gmail.com

WE OFFER ALL KIND OF LOANS - APPLY FOR AFFORDABLE LOANS.

Please, contact us for more information: PergoCF@qualityservice.com ( PergoCF@gmail.com ) PergoCF@cheerful.com
Kindly write us back with the loan information;
- Complete Name:
- Loan amount needed:
- Loan Duration:
- Purpose of loan:
- City / Country:
- Telephone:
- How Did You Hear About Us:

If you are interested to get a loan then kindly write us with the loan requirement. Please, contact us for more information: PergoCF@qualityservice.com ( PergoCF@gmail.com ) PergoCF@cheerful.com
Yours Sincerely,
Mrs. Ceren Kelly
PergoCF@gmail.com
PergoCF@qualityservice.com
PergoCF@cheerful.com

We look forward to hear from you ASAP

Interested applicants should Contact us via email: PergoCF@cheerful.com
PergoCF@gmail.com (Posted: Oct 7, 2017)
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
Complete Guide to NRI Education loan
Get the basics right before applying for...
Complete guide to education loans in India
Model Educational Loan Scheme: the new...
Interest servicing during moratorium...


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