Education Loan Defaulters Disqualified From Applying For SBI Jobs: Court

Madurai bench of the Madras High Court has issued a notice to the State Bank of India ordering that applicants defaulting on loan payments should be disqualified and barred from applying for jobs at the bank. In its recruitment drive for Probationery Officers, Junior Associates and Junior Agricultural Associates, the bank has said those who have defaulted on loan repayments, even for credit cards, will not be eligible to apply. The decision has left many like Ravi Kumar – a young engineer from Chennai – shattered. Ravi has still not…

Read More

How to Prepare for the End of COVID Student Loan Forbearance

Since March 2020, student loan borrowers have been given a break from paying their federal student loan payments. When the COVID-19 pandemic hit the U.S., the government passed the CARES Act, a federal stimulus package designed to bolster the economy. It gave student borrowers financial relief by placing their payments in forbearance and slashing interest rates to 0 percent. That pause on payments has been extended several times, most recently in late December 2021 with student loan forbearance now scheduled to end on May 1, 2022. That gives borrowers time to…

Read More

7 Inspiring Student Loan Debt Blogs To Read Right Now

If you’re struggling with debt, you need to check out these 7 inspiring student loan debt blogs ASAP. Each blog is packed with advice, tips, and inspiration by real people who have paid off their student loan debts – fast. Get ready to bring on the motivation! No More Harvard Debt Joe Mihalic’s uber-popular blog chronicled his journey to  “destroy $90k of student debt in seven months.” So, how did Mihalic pay off the $90k debt he accrued while earning his Harvard MBA? His approach was twofold. First, Milhalic increased his income. Next, he made…

Read More

Planning to Take an Education Loan? Here Are a Few Tips

Overview: With the cost of education skyrocketing, educational loans have come to play a pivotal role in many people’s lives. These loans help anyone who wants to pursue higher education. They are most useful when it comes to courses at premier institutions that cost a lot. Parents can afford to send their children for higher education and students can also pay for their own education. These loans can be funded by jobs that they get after completing the course. But educational loans can be a significant burden if they are…

Read More

Indian Government Education Loan Schemes To Help Students Study Abroad : Interest Subsidy

1. Padho Pardesh What are the objectives of the Padho Pradesh Scheme? The objective of this scheme is to awards interest subsidy to meritorious students belonging to economically weaker sections of the notified minority communities as declared in section 2(c) of National Commission for Minorities Act, 1992 so as to provide them better opportunities for higher education abroad and hence enhance their employability. What are the eligibility criteria of the Padho Pradesh Scheme? You should have secured admission in the approved courses at Masters level/Ph.D./M.Phil level abroad courses. You must…

Read More

12 Things To Do Before Student Loan Payments Restart On May 01, 2022

Initiated as a COVID-19 emergency relief measure in early 2020, the student payment pause has been extended several times over the past two years. The latest extension was announced by President Joe Biden in mid-December 2021. According to that announcement, student loan payments restart on May 01, 2022. The two year payment pause has given student loan borrowers much needed time to regroup financially. However, despite the student loan moratorium, a large number borrowers are still struggling to catch up with their finances. Many are convinced that the payment pause…

Read More

Education Loan for Abroad Education at the Lowest Interest Rate

With the increasing cost of higher education, more and more students are now considering studying overseas, and to cover the expenses for the same, the majority of students apply for an overseas education loan. Not only does an education loan help students in paying for their tuition fees but if chosen wisely an education loan also helps with other things like tax benefits and in building a good credit score. The overseas education loan market is flooded however there are certain financial institutions that offer an education loan at a…

Read More

Education Loan – Types, Rates, Features, and Eligibility

Quality education is of prime importance to any individual, and students go the extra mile to achieve that. However, the cost of education is on the rise lately and opting for an education loan seems to be the single best solution. An education loan is a loan that students apply to meet the financial requirements to complete their course. Many banks and NBFCs in India offer education loans at competitive rates to help educate the upcoming innovators and leaders. Top Education Loan Rates 2021 Bank Name Interest Rate (% p.a.)…

Read More

Here’s how students can ease their education loan worries

Bainab Ganguly, 23, took an education loan to ensure financial stress doesn’t come in the way of building a career. But the covid-19 pandemic has upset his plans. “I am pursuing masters in advertising and public relations from a college in Mumbai while working for an ad agency. Due to covid-19, the final exams have been cancelled,” said Ganguly, who returned to his home town in Kolkata as he is working from home and his classes got over. He was hoping to get into a high-paying job after finishing the course. Now, the course completion will…

Read More

Student loans: Going for an education loan? Key factors to know

You should apply for a loan as per your current needs, future earning probability and collateral security availability The second wave of the Covid-19 pandemic has aggravated the challenges for many. Even young people are facing challenges when it comes to planning for their higher education. One of the most common ways to bridge any funding deficit for education is to take a loan. However, before applying for an education loan, you should be aware of a few key points, including its eligibility criteria, tax implication, etc. Fulfilling eligibility criteria…

Read More