Education Loan: Tips For Education Loan

Download Education Loan: Tips For Education Loan

Post on 14-Apr-2017



Economy & Finance

3 download

Embed Size (px)


<p>Education Loan </p> <p>Education Loan</p> <p>Tips For Education Loan</p> <p>Along with the burden of exams and getting admission into a good university there is another major issue, which the students have to deal with and that is to arrange the expenses. To overcome this burden many banks offer differenttypes of education loans. Although it is quite tuff to figure out the best scheme available, students need to clarify certain things before deciding on one. We have come up with few tips which would be of help while picking out the best option.</p> <p>Thestudent loansare increasing constantly, in case of India; the number ofstudent loanshas increased more than ten times since 2004, this calls for better awareness among the students and the parents. So these pointers would surely help you, avoiding excess fees and extra interest costs, protecting your credit rating, and keeping your payments affordable.</p> <p>The first thing to keep in mind before going for any loan is to do your homework very carefully. Do read the terms of each and every loan option carefully before applying. You may get a better rate through a different bank, so you should explore all your options. It is very important to understand the eligibility criteria and all the other aspects, which the loan covers to complete the education, before applying.</p> <p>Understand the loan</p> <p>There is different grace period for different types of loans. Grace period is the time you can wait after completing your course before you have to start making your payments. So you should have a clear idea about the market and anticipate the Job scenario once you leave the college, so you are in a comfortable position while paying instalments.Know Your Grace Period</p> <p>There has been a sharp rise in the number of defaults, as the lending rates have increased over the years. Non-payment spoils the credit score of both the student and the co-borrower, so never ever default on your loan payments.Do Not Default</p> <p>It is always better to pay off your loans as soon as possible, but at times lenders impose extra fees for pre-payment of the loan. A certain percentage of the remaining balance is charged in case of loan closure.</p> <p>Pre-payment fees of loan</p> <p>If you have any queries about education loan, or need help about how much to borrow, dont be reluctant to contact the banks loan executive.</p> <p>Source :</p> <p>Keep these pointers in mind and dont hesitate to ask for help</p> <p></p> <p></p> <p></p> <p></p> <p> Read more on Education Loan : You..!!!</p>