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Fund your higher studies with Student Loans In India

Today the dream of pursuing higher studies from top-notch universities in India or abroad are catching up amongst the youngsters like a wildfire. More and More Indians are traveling abroad to achieve their educational dreams. Some of the most preferred destinations are USA, Canada, UK, Germany, Australia, Singapore, New Zealand, France, Sweden, etc.

However, along with this the cost of education is also soaring high and its way beyond the reach of middle and upper-middle-class people. In fact, most aspirants might leave their dream studies and take a grave step to compromise on their career.

Relax! Today, many private finance companies and government banks have introduced Student Loan In India which takes complete care of your higher studies without the need to borrow finance or spend time on arranging money to pay fees or other financial expenses. Student loans in India are fast emerging as a support system for those aspirants who are exceptionally good in studies however, lack funds to get admission in premier institutions across India or abroad.

Since these loans are offered to students it’s the lenders who foot the costs of RBI and offer loans with interest rates as low as 11-13% with a nominal processing fee of 1-2% on the loan amount. There is a special concession for women applicants to encourage more girls to empower themselves with higher studies.

As long as repayment is concerned, they are not like other loans and you can start the repayment after six months to one year after your course competition. It is termed as moratorium period. Your repayment tenure thus ranges from around 5 to 15 years. Experts say when you start paying towards the interest rates once you take a loan, you will significantly save on monthly installments.

Student loans in India are available to citizens of Indian Nationals with an age group of 18 to 35 years. Some factors to determine the loan amount would be your age, academic score, the country you wish to study, the university, course & its job prospectus, gross income & creditworthiness of parents/guardian, monthly expenditure, etc. Based on these factors lenders adjudge a loan amount which gets disbursed directly to university account once the students confirm the admission to their dream university.

Most private finance companies understand the priority of getting money on time especially for managing funds in case of higher studies abroad and therefore come up with offers like pre-Visa disbursement, Pre-Admission, fast-track loan that will speed up the admission process during the time of applying for a university. Students applying for American university can produce "Certificate of availability of funds" a mandate for taking admission in a U.S university.

While most banking demands for margin money to fund your higher studies, leading private finance companies are willing to give 100% education finance. In fact, with the advent of online service, you don't have to run pillar to posts to collect information leaflets, fill up forms, do attestation and finally stand in long queues for submission. The biggest drawback was a loss of time, energy as well as at times losing the admission in your desired university.

Today, you can compare apple-to-apple in terms of interest rates, processing fee, loan disbursal amount, the time taken, repayment options and tenure for repayment. In fact, you can send the application online, a document officer will come to pick your documents and within a day or two, you will come to know the status of your loan approval.

Student loans in India are a boon for millions of aspirant who need the wings of right finance to fly high in the air of success in life!

 

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