“The function of education is to teach one to think intensively and to think critically. Intelligence plus character – that is the goal of true education.” – Dr. Jr., Martin Luther King Quality education is what shapes students by developing their skills, intellect and character. As a result, achieving one’s academic and professional goals should never be compromised. With an education loan, you can achieve all your academic aspirations. The essential information about the advantages of an education loan follows.
Concerning Student Loans A student loan is the amount that you borrow to fund your education independently, without depending on your parents. During the moratorium, you can pay back your student loans with simple interest (SI) or partial interest (PI), as well as Equated Monthly Instalments (EMIs) once you graduate or start working. So, why borrow money for school? Because they help you get closer to your academic goals, taking out education loans is a wise decision. Additionally, student loans offer numerous advantages. Benefits of a Loan for Education Savings versus a loan for education It takes a lot of effort and time to accumulate family savings to be prepared for emergencies. If you use your family’s savings and assets to pay for school, you won’t have anything in case something unexpected happens. The answer to the questions “Is an education loan better than savings?” and “Is a student loan or self-funding a sound choice?” is absolutely “Yes,” as it will enable you to rely on your savings in the event of an emergency. Quality Instruction You can access impeccable education at your dream university without making any compromises. The foundation for imparting the necessary knowledge and abilities to excel in life is a high-quality education. The total cost of an education is covered by student loans, which can be used to pay for things like housing, transportation, learning aids, living expenses, and other education-related costs.
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Nowadays, students prefer not to rely on their parents to pay for their education. By self-financing your education with an education loan, you can show off your accomplishments. Credit Rating At this critical turning point in your life, you will eventually require additional financial products like a credit card, car loan, or home loan. Lenders view you as more creditworthy when you repay your education loans. When you use this instead of other financial options, you will gain access to several advantages. Spectrum wide Numerous courses, including mainstream ones like STEM and MBA, niche ones like Food Technology, skilling, upskilling, reskilling, and vocational study programs, are eligible for student loans. If you want to study abroad, you can opt for an education loan for studying abroad. If you want to study in India, study loans are available for courses in India too.
A long-term investment that pays dividends By taking out a student loan, you can realize your academic goals and launch a successful career, business, or profession. Besides, you develop skills such as analytical, critical thinking, and creative thinking, which will enhance your career further. During your academic career, the connections you make can also lead to new career opportunities. Why Choose an Avanse Financial Services Education Loan? At Avanse Financial Services, we offer student loans with benefits such as 100% finance, quick loan sanctions and flexible repayment options. Also, you will be glad to know that we have launched an Avanse Freedom Offer, a special, limited-period initiative that provides attractive interest rates on education loans for students planning to study abroad. In the United States, student loans start at just 9.99%, while those in other countries start at just 10.5%. This offer only lasts until August 31, 2025. So, these are the advantages of an education loan. Now, don’t let anything come between you and your academic aspirations. You can try our education loan EMI calculator, so you can find estimated EMIs based on different combinations of tenure and loan amount. Please let us know if you have any doubts. We would be delighted to collaborate with you on your educational journey.