Understanding the Concept of Education Loan Without Collateral
Also known as an unsecured education loan, a non-collateral study loan is a blessing for students looking for financial support when it comes to pursuing their higher education abroad without having to pledge any collateral for availing the loan. This is a type of loan that is given to students for covering their study-related costs abroad, without them having to offer any security against the loan. These student education loans are provided to applicants based on their eligibility, which can include aspects like their academic performance, achievements, expected earnings, and if they have gotten admission to a recognised international educational institution. This type of loan may involve a slightly higher interest rate as compared to other types of secured education loans, while the amount of money that can be availed under a collateral free education loan will depend on the specific loan provider’s company policies and the credit profile of the loan applicant. Collateral can be...