Education is essential for everyone. In today’s
competitive world education is necessity for man after food, clothing, and
shelter. it has become an indispensable part of
life both personally and socially. As a student, we
always want to study in best college with our chosen course of study. But, few
people are not able to pursue their dream of higher study because now pursuing
education has become a costly affair. Financial
problem is main hurdle that people faces in pursuit of their higher education. In such a situation student loan runs to the rescue of a student.
Now-a- days, study
loan have been made hassle free to apply for and get too. It is viable for a person to visit the
website of a bank or financial institution and understand the student loan
facility and terms & conditions associated with the loan. You can choose
from various banks or financial institution.
The terms and conditions are not that hard to be met. The interest rates
are low. Thus, it is easy for the students to apply and acquire an education
loan. The education loan
process may vary from bank to bank and from financial institution to financial
institution. Banks and financial institutions are encouraging student loans
Student loan in India covers:
· Expenses related to tuition fee, admission
fees, examination fee and other compulsory fees that are related to the course
demanded by university or institute.
·
Expenses (if any) and hostel fee.
·
Expenses related to purchase of books, laptop
and technological tools.
·
Any other expense related to complete the
course- like study tours, project work, thesis, etc.
Student Loan plays an important role in helping
people to cross the hurdle of finances in pursuit of their educational dreams.
In the economic slowdown, it is very
tough for parents to provide fund for education. Study Loan helps meritorious
students to come out of this crisis and go for education. So, without worrying
for their educational expenses, students can fulfill their educational dreams.
But, you need to be cautious
while taking student loan, you
should choose the bank or financial institution that offers low interest rate,
no prepayment penalty, minimum or no collateral required and flexible repayment
options. You must go through each and every detail of the education loan and should be clear
about terms and conditions to avoid problems at the time of repayment.
