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Why you need loan for education

30 Apr, 2009 By:Unknown in Education Loan,

You may need loan for any reason. It may be some personal reason like marriage or education of your children or even some foreign trip.

Higher education can be expensive. If you send your children abroad for education then there are lots of costs involved including lodging, boarding, and tuition charges. The cost of foreign education is going up and up due to lots of factors. The most of people in India can't afford foreign education due to this reason. Here comes the need for education loan, which is a kind of financial aid given to needy students for meeting the expenses of their higher education both in India and abroad. After furnishing all the required documents to the bank, students get the loan. The bank or the financial institution pays the money directly to the educational institute or university at the due time. The loan is re-payed by the student after he has finished his education and starts earning after getting a job. The terms and conditions of the loan can be negotiated.

Suppose your children have grown up and they have finished their schooling in India. Now they want to get some higher study abroad. Then you need lots of money for sending them abroad. If you are not very rich and do not have lots of money saved then you simply can't afford to pay for the education abroad. In this situation education loan comes to your rescue.

Higher education in a foreign country may help in the future of your children. After completion of their education, they may land a well paying job either in India or abroad. So, it is better for you to get education loan for your children as it will be beneficial for them in the long term.

 

Comment:(9)
on 20 May, 2016

sir i'm going to B tech max.amount 200000... kaise lone milega..

on 11 May, 2016

Sir I need loan for diploma course of tally...I need 25000 rs for that...
Iam a student of b.com..sir pls give me info.about loan...

on 18 Dec, 2015

If you get a credit card, keep it way below mxmuaim credit line, pay regularly and never go over, then this helps your credit immensely. Also, any line of credit over 300 dollars that you do well with adds points after three months

on 12 Oct, 2015

my son ,Vishwas srivastav , is going to Canada , Vancovour , for the post graudate diploma course in 3d animation atVFS , Vancovour ,Canada , in feb,2016. he needs Rs 2500000 ( 25 lakhs ) for tution fees , housing accomadation , food charges ( all included in this 25 lakhs ) . I do not have security collateral deposit of any kind nor any landing property to show in any bank
so whether my son will get this education loan of Rs 25 lakhs ?
please inform me immediately .
thanks
Rajiv ranjan kumar
mob- 08495088145
e mail - doc.rajiv123kumar@gmail.com

on 05 Oct, 2015

sir, please advice me if i can get loan for my daughter's marriage.and i am a widow .iam getting family pension of 33000/month.if so how much am i eligible for?

on 24 Aug, 2015

i am living in trichy tamilnadu. And an exservice man.my son working in bmw chennai as a junior engr .and my one of daughter is studing BE 2nd year in rama krishna college samayapuram in tiruchirappalli.so need education loan 5 lacks all are documents available it my self pl provideme

on 22 Aug, 2015

Sir ye gnm course k liye loan lena h to kya krna pdega muje iski puri informations chiye

on 19 Jun, 2015

Can I get educational loan for the diploma course GNM NURSING as I'm doing job.

on 23 Mar, 2013

sir plz tell me maine b tech me admission lene ke liye pnb edu. loan liya hua h its amount is 4.00lakhs kya mujhe intrest bhi dena hoha.

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