Student Loan: A helping hand in pursuing education

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.