Should I take a loan to study?
Some students take an education loan for graduation and then avail of the top-up facility to complete their post-graduation. “Taking a top up on education loan is bad, because it will increase the liability further. It is better to finish the first education loan before taking the second one,” says C. S.
How much loan can I get for studies?
One of the most vital questions that you may wonder about is the amount of the educational loan. In general, you can get up to 4 lakhs of educational loan for higher studies without any collateral. Under education loan scheme, you can get a maximum of 15 lakhs for studies in India and more 25 lakhs for abroad studies.
Is there any loan for study?
The scheme envisages loans up to Rs. 7.5 lakh for studies in India and up to Rs. 15 lakh for studies abroad. 4 lakh no collateral or margin is required and the interest rate is not to exceed the Prime Lending Rates (PLR).
Which documents are required for study loan?
Documents required for Education Loan
- KYC documents.
- Bank Statement / Pass Book of last 6 months.
- Optional – Guarantor Form.
- Copy of admission letter of the Institute along with fees schedule.
- Mark sheets / passing certificates of S.S.C., H.S.C, Degree courses.
How can I get study loan?
Documents required for Education Loan
- KYC documents.
- Bank Statement / Pass Book of last 6 months.
- Optional – Guarantor Form.
- Copy of admission letter of the Institute along with fees schedule.
- Mark sheets / passing certificates of S.S.C., H.S.C, Degree courses.
Do you need a loan to study in Australia?
Enrolment rates are increasing by 4-5% each year across Australian Universities, and so is the demand for loan applications for study. Students traveling to Australia for higher education have to submit their tuition fee in full before leaving their country.
Can you get a student loan while studying abroad?
These loans can be used while studying abroad if you are currently earning credits through your home university. If you’re applying for this loan for the first time, you may be required to go through entrance counseling— a process that explains the general loan process and provides you with necessary financial planning tools.
What kind of courses can I get a student loan for?
The course you can apply for with a student loan include management, architecture, engineering, etc. The loan will cover expenses incurred on tuition fees, accommodation, examination fees, lab and library fees, the purchase of books, equipment required for the course, uniforms, etc.
How to get a personal loan for college?
To begin with, a personal loan covers more than just the tuition fees. You can use it to manage flight tickets, living expenses, accommodation, contingencies, and other expenses. Moreover, you don’t need to take up any lengthy documentation process. You can apply online and get the loan amount credited in your account within 24 hours of approval.
