4 Key Factors to Consider in the Education Loan Search Process
.webp)
Pursuing higher studies is important for having a prosperous future. However, a significant monetary investment is necessary to pursue a course at a reputed college or university. Hence, an increasing number of people today fund their higher education with a loan. Education loans or student loans allow an individual to pursue their desired higher education course at the educational institution of their choice. What exactly is an education loan? An education loan is a fund arrangement provided by banks and non-banking financial companies (NBFCs) for students to pursue their academic goals. Students can avail of this loan to finance their higher education. In addition to the tuition fees, the education loan amount can cover course materials, lab fees, living expenses and other associated costs. In the majority of cases, the repayment of education loans is deferred for the duration of the course. It starts once the student has completed the entire degree. Based on location, edu...