How Education Loan Can Support Your Dreams? - Primassure LLP

Education loans are basically a form of monetary assistance availed by students to meet the expenses associated with their studies. Education loans can be taken by means of funding, scholarships, financing and rewards, and are granted in cash, which has to be repaid to the lender along with a rate of interest. 

Students looking for student loans are advised to borrow according to their needs, as the repayment period for these loans can vary depending on the lender and amount the student's income.

If you wish to avail an education loan but are unemployed or still studying, a co-signer may be required to avail an education loan, like an eligible adult such as a friend, parent or relative. The repayment of the loan can be done once the student has completed his/her education. Given the flexible terms and conditions associated with the repayment of an education loan, availing one is fairly simple and straightforward.

Education loans


Types of Education loans

Based on the type of the education that one wants to pursue, there are student loans for diploma and certificate courses, student loans for skill-based courses, student loans for studying abroad, and so on.

Whatever the course may be, there are two types of student loans the basis of location.

Domestic Education Loan – For educational courses within the geographical limits of the country. The borrowers have to meet various eligibility criteria and the lenders will approve the loan if the student has secured a seat and the school meets the lenders' requirements.

Study Abroad Education Loan - For educational courses outside the geographical boundaries of the country. As with domestic education loans, the borrower must obtain an approved seat at a college or university from a list of eligible educational institutions to approve the loan.

Education loans are taken out with the best intentions. It is considered good debt because it is an investment in education that will pay off in the future. It is focus of their studies without worrying about money and get good education loan.


Blog: Education Planning

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