Education loans and their benefits
February 18, 2019
Education Loans or Student Loans or College Student Loans are designed to help a student who wants to enroll for higher studies in an institute by paying all educational expenses on behalf of him / her. These stretches may include tuition, hostel fee, fee for book, food, uniforms, etc.
For those who are just not happy enough to get any kind of scholarships, student loan is the best way to pursue higher studies in any domestic and international universities or educational institutions. In India, the education loan was launched in 1995 by SBI. Nearly all public and private banks offer a variety of student loans and provide educational funding for higher education at international universities, which can be used by any student on an uncomplicated basis.
Once you prove that you have been admitted to any university or school, each bank is more than happy to reward you for your studies
Investing in a student whose future looks bright is a good move for the banks to get a good return. On the other hand, student loans are a blessing for students who have secured admission to some of the nominated institutions in the world and want to fly high with their dreams. Some of the Benefits of a Education Loan Simple and Simple: Student Loan is very easy to apply. If you passed the admission test and secured admission to any university, college, or institute in India or abroad, any bank would be happy to finance you. All you have to do is submit your letter of acceptance to the bank and do some more formalities.
The bank will transfer the full amount of your tuition, hostel fee, fees for books, meals, travel, etc. directly to the institution or institution concerned. Easy repayment: Once you have completed your course, the banks give you enough time up to two years to initiate the repayment procedures. One to two years, is a good time to look for jobs, and you can pay back to the bank that owns your own. This is the best of education loans.
You do not have to rely on your parents to repay the money
Tax Benefits: Under 80 (e) of the Indian Income Tax Law, there are some tax benefits that you can enjoy during the repayment of the loan. This section will deduct the interest you pay to the bank.