Why Repaying Your Education Loan is Important

It then dawned on him that in his aim to own his dream house and save money for it, he had completely neglected paying his education loan, thereby costing him his home in Mumbai. Like any other loan, it is vital to know that an education loan is a credit facility provided to help one pursue his/her higher education. Like any other form of credit, education loans have to be repaid once one completes his/ her course and gains employment. Also like any other loans and credit cards, education loans…

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A student’s guide to taking and repaying an education loan

It’s easier and cheaper to get an education loan today than it was five years ago. This is largely because of the increased push by the central government to popularise such loans and greater competition among lenders following the entry of non-banking finance companies (NBFCs) into this space. Though better education loan availability is a plus, experts say borrowers need to carry out ‘due diligence’ that they would do before taking any other loan. These are the following steps that need to be considered. Several private institutes have education loan desks of…

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