Tag: educational loan

How to maximize the benefits of your educational loans?

A study loan is taken by a student to pay for higher education. It is the most feasible method to fund higher education as there is a hike in the costs of education every year. There has been a significant increase in the amount of study loan in India since 2005. An education loans provides financial assistance to students by financing the expenses incurred for admission in a reputed university or educational institute. Study loans in India not only covers college fees, course fees but also covers a lot of expenses like library fees, traveling expenses  and dormitory charges. Unlike other loan education loans provide too much flexibility in the repayment options. There is a holiday period or moratorium period offered by the banks and the NBFCs. It means that the borrower can wait for the repayment till one year after the completion of the course or for six months after securing a job. This provision allows the student to settle down financially.

For availing a Educational Loan in India you need to have a confirmation letter from your university or college. Also you need to have the secondary certificate, and other educational certificates. Depending on the loan amount the bank or the financial institution will ask you for the collateral security.  Education loans have high eligibility guidelines, simple documenting and has a very quick processing which makes study loans more popular amongst the students.

When you apply for a study loans in India it not only covers your educational expenses but you also get tax benefits which reduces the overall cost of the loan.  Apart from loan amount the banks and the NBFCs offer special incentives and scholarships to the students  which are beneficial for the borrowers. Some banks and the nonbanking financial institutions provide special concession to female students and minority students.

How can you maximize the benefits of the education loan?

As an education loan borrower you need to do detailed market research so that you get the best study loan with lowest interest rate and flexible repayment options.

 Make a total cost of the loan that is required to complete the course which includes every single minor and major expenses of the education. Course fee , library fee, a new laptops , books , study and research material, project fees etc.

Decide the mode of repayment. Whether you want to opt for EMI, holiday period or moratorium period.

Do a proper research on study loans in India offered by various banks and the financial institutions. While sanctioning any loan these banks and the NBFCs have certain parameters at which the loans are availed.  Go for the education loan which offers a good amount at a lower interest rate and is also offers good flexibility in repaying. Take into consideration the expenses that will be covered by the loan amount.

An education loan is the key to make your dreams turn into reality. Hence, it is necessary to make the most of the loan.

Source: http://educationloanforstudents.weebly.com/home/how-to-maximize-the-benefits-of-your-educational-loans


Financing your higher studies abroad with student loan

Now that you have secured merit score, obviously your next concern would be taking an admission in the dream college. But if it’s in abroad your train of higher ambition gets a sudden brake of finances and it comes at a standstill. Your major concern will be determining the source of fund for your educational and personal expenses while studying abroad. While sending their kids to foreign countries, these days even the richer section of the society has to think twice as the costs for studies has pitched around five to six folds. So, obviously middle class people are going to face a big finance crunch to fulfill their child’s dream of foreign study abroad.

Relax! India’s leading private finance companies and government banks have introduced higher education loan scheme for education in abroad. While taking admission in foreign university and institute it’s important that students display enough proof of funds. Every student will have its own problem to manage funds,  visa clearance, slow loan process, incomplete finance, etc. Therefore, these leading private finance companies have come up with unique and friendly solution for customers such as Pre-Visa Disbursement loan, Pre-Admission Loan, Certificate of Availability of funds, GRE score based loan, fast track loan, Bridge loan, etc. that will cater exclusively to students particular requirements and set them free from any form of hurdles in their road for successful career development.

Although, some banks might sanction the loan against the margin money costs, but there are few who providing students with complete financial solution. Students will be offered 100% education finance at interest rates as low as 12.75% and mere processing fee of around 1-2 % depending on case-to-case basis.

Educational loan for abroad studies are offered to those Indian students who have secured admission in any of the bank or private finance companies lists of approved courses/universities. They have simplified the application process so that every student can take advantage and apply for foreign higher studies. The main endeavor of these banks and finance companies is to grant privilege to meritorious student who wish to pursue higher education outside the country.

Generally they will be not collateral security for loans upto 4 lakhs. However, for loans ranging between 4 to 7 lakhs, banks will require collateral in the form of a satisfactory third party guarantee. For loans above Rs. 7.50 lakhs, collateral in any of the form of residential property (house/flat/apartment), Fixed Deposits, Life Insurance with surrender value equivalent to loan amount, Existing house mortgaged and Non-agricultural land can be considered.

Now, that you have a bit understanding of your educational loan for abroad studies, it’s important you get started on the right foot. Don’t wait until the last minute to start saving up for your higher studies. Ask people, friends or family members who have gone through the financial process for proper guidance. Availing a loan involves lot of logistical and technical loose ends which might create the unnecessary confusion. So its better to understand the loan process, repayment strategies, interest rates incurred and then go for suitable loan. Educational loan for abroad studies are a boon for those needy students who wish to fulfill their dreams of study abroad. These youngsters can shape up a good future with better amenities, lavish lifestyle and possibly get an opportunity to make a mark of India on global platform if they opt to live abroad.

Student Loan Consolidation, Key to Saving Money

Getting into college not only requires drive and intelligence. It needs a good financial plan, both for parents and students. Sometimes, because of the many unexpected educational expenses, no what how good the financial plan is, some students have to apply several student loans. Because of this, one loan after another can lead to repayments difficulty, especially by the time a student graduates.

Multiple loans require multiple payments at different times of the month. All of which can lead problems like missed or late payments. This is why it is very important to manage and track the number of lenders you have and how much you owe each. For financial management to be easier, a student loan consolidation is a viable option.

A Educational Loan In India consolidation entails the combination of all the student loans at hand. This makes it easier for the debtor to make plans for the repayment of the loans made. However, you should take note that there are several types including federal and private. Because of the different terms and conditions that apply for each kind, it is not advisable to consolidate both types into one account. It is more advantageous to consolidate loans according to what type it is.

Loan consolidation makes it easier for a debtor to make arrangements for the payments in a way that only one repayment addressed to one lender has to be arranged regularly. This means that all the loans made will follow only one set of terms and conditions. The interest rate that will be used is the average of all the interest rates of the loans made. The consolidation interest rate is lower compared to the interest rate of the loans made when looked at separately.

In some cases the repayment programs extends the duration of the loan amortization. This is not advantageous for the debtor even if the interest rate is lower because longer time frame of payment will cause the debtor to pay much more in interest. This is the trade off in having more time to pay for the loans consolidated. Another important factor to recognize is that once you consolidate the loans, you can no longer take out the loans from the consolidation program. This means that you can no longer separate the loans once the consolidation has been made.

When one is looking for a loan consolidation,, the student must consider the interest rates, repayment program and penalty payments if there are any. Do a good job of researching your options and do not first loan that is offered. Protect yourself and be smart. It is really advisable that before you apply for a consolidation loan that you fully know the terms and conditions of the commitment.

Article Source: http://EzineArticles.com/936639

International Student Loans – Cash to Study Abroad

Are you abroad for studies? Well, everyone does not go and those who go, not everyone have got enough money to fund the studies abroad. So, there are various funding agencies helping them in this matter. One viable solution thus, is to go for finances and here are some good options, international student loans.

They are designed specially to fund the Study Loan expenses of those students who are eyeing on studies abroad. Now these funds are the viable sources of money for these students. Here, you are authorized to choose the viable deals of your finances. These are advanced to fund any of your study needs. You can buy books, can pay the hostel fees and the food bills or can buy computers etc. so, the funding here covers all the aspects of your studies. With them, studying abroad is not a matter at all these days.

In these easy finances available for studying abroad, you can either take the money for a short time frame or pay high interest rate or you can go for paying this money back for a longer period of time and pay back the cash at low interest rates. Well, sometimes, the amount and terms of these easy finances depend very much on the repaying capacity and the credit record of the student who is going to take the loans. Bad credit holders are, however, not barred to take these loans and can take the loans with a slight difference in the rates of interest.

And, they are available online too. Here you are to apply through only a small application from while this is free of cost. You will also find a good many lenders online to make your rates of interest rate cheap and easy enough. And, the service of these loans is available every hour, round the clock.

Article Source: http://EzineArticles.com/817252

Further Education Loans – Funding For Further Studies

Education is one of the most important things in any person’s life. This is one aspect of one’s life which cannot be neglected. Many people desire to complete their education entirely by opting for post-graduation. However, this choice does not come easy as it involves a lot of money. Further Education Loans are a good choice for such persons who would want to finish their education at a higher level.

Further Education Loans are advances which can be availed in either a secured form or an unsecured form.

The candidate has to place some of his property or asset as collateral to avail the loan. This serves as an assurance and the lender charges him with a lower interest rate. However, the candidate faces a big risk of losing possession of his property on failure to pay the money back on time. The amount he can borrow ranges from 500 to 100000 along with a repayment term of 1 to 25 years.

In the unsecured form, there is no need to place any collateral to get the services. However, due to this, the lender charges the citizen with a slightly higher interest rate to avoid any risk. The lender can sanction any amount in the range of 1000 to 25000 and this must be paid back within 1 to 10 years.

Those unfortunate who suffer from a less than perfect financial history can also apply for this advance without having to worry about any hidden costs or further liabilities.

The whole process can be done in minutes by applying for it online. The candidate has to fill the form on the given website, and then submit it to the lender. Once the lender gets the form, he will verify the information and if he sanctions the credit, the money will be transferred to the candidate’s bank account.

Source: http://www.sooperarticles.com/finance-articles/loans-articles/further-education-loans-funding-further-studies-300560.html

Student’s Education Loans Made Easy

Many parents are facing problems with their children’s education. The tuitions fees have gone up significantly, the other expenses related to the education has multiplied. The situation is same all through the nation and even the part time education process has become very expensive making it extremely difficult for children, parents and other individuals aspiring for getting higher education. Many new modern facilities, new laboratory experiments and expensive reference and text books, all make the college education a high expensive affair. One solution for this situation is the student’s education loan.

Now consider the present national scenario. Middle level and lower level populaces are facing problems even to meet their day to day requirements. The commodity prices are in rise, rents of houses have exploded multitudes, medical expenses soared to an all time high and gasoline prices makes the travel extremely costly. Common people are struggling to find out ways and means to come out from these situations. Adding to all these now presently kids tuition fees have grown insane. There are no simple ways to overcome this. People are mostly facing awkward conditions of bad credits, mortgage loan default and many such bad to worse conditions.

As father, do you like the education of your child to suffer? No, whatever be the debt, we all parents find out some ways and means to provide necessary fund to the children’s education purpose. Mostly parents will end up with huge debit by the time the child comes out of the school and colleges. An unbearable load will be on your head. This is true if you go on getting funds from personal loans, secured loans or unsecured loans or any pledging loans. All these loans take away from your wallet huge interests. You will be going on paying interests with no sight of end.

My strong advice for you is to stop all types of such loans. Now there is a most beneficial loan for student education. They are of low interest rate and most of the loans offer much flexibility. Most of these financial institutions offer you much discounts as well. As a parent you need to pay only the minimal interest of the loan amount your child has taken yearly until he comes out from the college after completing the course. Once the student is ready for a job and when he gets job he should start repaying the amount with interest there on monthly. For parents this is really a blessing. As far as the students are considered, it is very easy and flexible for them to pay back the amount from their own earnings or salaries. In fact they will be much proud of doing it.

So do not hesitate to approach an online financial service website to avail a student’s education loan. Presently it is very easy, procedures are very simple. You just have to show a confirmation of your admission to an academic course with the details of tuition fees you need to pay year by year. The rest the executives of the company will take care.

Article Source: http://EzineArticles.com/1619200

Education Loans

Our education loans aim to finance the dream of meritorious students. We offer easy and 100% education finance to Indians, to study both in India or abroad.

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