The benefits of an education loan EMI calculator

1. The benefits of an education loan EMI calculator Higher education is like a visa to a better and stable future. It helps students learn skills in the trades of their choice and thus contribute to the society in a meaningful way through their professions. But higher education is expensive and many students lack the funds to gain higher education. To help such students, education loan lenders exist. They offer education loans and also help students carve out their loan repayment calendar. They make this possible by providing an education loan EMI calculator. This calculator has 3 fields in it. Those fields are the education loan principal amount, the interest rate levied on it, and the tenure in which the student would repay the total amount of money with interest. The student is supposed to put in right information in all of these fields and press the calculate button. Once all the fields are filled with valid information, the calculator will calculate the value of the EMI and display it on the computer screen. In this article, we will tell you the benefits of this calculator: 1. Is available for free Many lenders provide an education loan EMI calculator on their websites for free. This helps students calculate the amount of money they would have to pay as EMI of their education loan, based on the values of other fields.

2. 2. Is simple to use All students have to do is put in appropriate information in the required fields and press the calculate button. If students were to use a pen and paper to calculate the EMI amount, they would have to know the appropriate mathematical formula and the way to use it properly. 3. Provides accurate and quick results Calculating the education loan EMI value using a pen and paper is cumbersome. It takes a huge amount of time and even after that the results may have mistakes due to human errors in calculation. The education loan EMI calculator provides quick and accurate results. This saves the time and effort of students. 4. Can be used with varying combinations of variable values This calculator is reusable. Students can use different values in the 3 fields of this calculator to find out the set of values that are the most suitable to their repayment capability. The student can thus find out the right combination of values from the many permutations and combinations to gauge the right EMI value correctly. 5. Helps in strategizing the finances The education loan EMI calculator helps students to strategize the ways to repay the EMIs of their education loan. It helps students plan their finances and gauge the way through which they can repay their education loans without paying too much in interest and also use the tax benefits associated with their education loan. So, these are the 5 benefits of using the education loan EMI calculator. We hope that after reading this article, you have gained more nuanced knowledge of the mentioned calculator. Please consult a financial advisor and an education counsellor before you choose an education loan for your higher studies. All the best!

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