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Education Loans in India are provided by private financial institutions to help those students who are eligible to attain higher education in reputed professional institutes but can’t afford to pay the hefty college tuition, books and other expenses. To know more visit : http://www.avanse.com/calculators/emi-calculator/<br>
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Due to the increase in college fees every year, most of the student have no option but to opt for an education loan. Education Loans in India are provided by private financial institutions to help those students who are eligible to attain higher education in reputed professional institutes but can’t afford to pay the hefty college tuition, books and other expenses. Most of the loans are allowed to be paid after the completion of the course of education by the recipient.
At first you must determine how much loan you require to meet all your expenses which should be calculated precisely. Then you must decide which type of loan you should take i.e. Government loans or Private loans. Most people prefer Government loans due to its lesser rate of interest. So, at first students must know the criteria and limit allowed by banks and then approach the bank for the loan.
Keep on reading this article if you'd like to know how to get an Education Loan in India. • Purpose for which a student can apply for an education loan • Banks give loans for • 1. Tuitions and other fees • 2. Books, equipment, etc. • 3. Cost of passage (for education abroad) • 4. Caution fund/building fund/refundable deposit • Only SBI offers the loan for abroad studies. HDFC bank gives education loans for courses only at the institutes in India which are approved by them.
Eligibility • All students should be an Indian National. 2. They should have secured admission to professional/technical courses through Entrance Test/selection process. 3. If studying abroad, students should have secured admission to the foreign university/institution. 4. Student should have an earning parent/guardian as a co-applicant to the loan. Source:http://education.onehowto.com/article/how-to-get-an-education-loan-in-india-2879.html
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