Education loan is a personal loan for a student to apply for completing his/her education. It is a kind of long-term loan where Banks allow students to repay the loan only after completion of course. The number of students opting for higher education abroad has increased exponentially in the past two decades. Also, there is a drastic increase in the number of students opting for overseas education loan due to increase in the expenses of quality education abroad. Today there are numerous lenders offering loans to students.
Education loan for India is also available for students wanting to study in Indian colleges. There is, however, some difference in the requirements for overseas and Indian education loans. In general, when applying for a study loan. You must keep in mind the following criteria: • A co-applicant is a must ( could be parents, a sibling or a spouse ) • For loans between Rs 4 – 7.5 lacs a third party guarantor is required • Collateral needs to be provided for student loans above Rs 7.5 lacs • Loan repayment commences 6 to 12 months after course completion • If a student goes abroad, lender recovers the remainder from co-applicant.
Education Loan to Study abroad
Education loan is also provided to the students who are willing to go abroad such as USA, Canada, Australia etc. to study. They can easily apply for education loan now with the lowest rate of interest. Sometimes students give up their dreams to go abroad for studying because of financial situation. They no need to take any kind of tension now. You can approach our Sobhraj Overseas coaching and consultancy. We will give you all assistance to provide you education loan.
Whatever the course you want to do, don’t compromise your goal. Or hesitate about taking a decision to better your future. Come to Sobhraj overseas and we will find a solution to make your dream take a right shape.