Get The Best Education Loan For Higher Studies

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Get the Best Education Loan for Higher Studies
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• If you want to go abroad for higher studies then
  don't wait more to start your education loan
  search. Indiaacademic.com is one of the leading
  website where you can get the best information
  for Education Loan in India from different banks.

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• If you've made up your mind about pursuing higher
  studies in India or abroad, don't keep the
  financial planning for the last leg of your
  preparations. Start early, scout around and
  settle for the education loan option that's best
  for you.

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• In the study loan business, the marketplace is
  teeming with options, so it can get really
  confusing at first. At the start of your search,
  you'll be confronted by the basic question
  What's the better option - scheduled banks or
  non-banking finance companies? Most of the Indian
  banks offer education loans for studying abroad
  up to a maximum of 20 Lakh. If you want loan more
  than 4 Lakh, you'd have to contribute 15 per cent
  of the total cost of education and the bank will
  pay the rest.

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• Education Loan is one of the better loan and
  especially for the disbursement of education
  loans, does not ask for any margin money and is
  flexible on collaterals. Study the terms and
  conditions of both and go for the more flexible,
  cost- effective option. But to get the best
  education loan deal, you'll have to negotiate
  with the lender. Based on the net worth of your
  parents, you can negotiate on the 15 per cent
  margin or on the collateral requirements. The
  stronger the net worth, the lower the collateral
  requirements.

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• Getting an education loan isn't all that
  difficult, but its repayment can become a
  headache if you don't plan early. Its best,
  advice experts, to pay back in short tenures,
  because the longer the tenure, the more you'll
  end up paying. Repayment during the moratorium
  period can get you discounts on interest of up to
  0.5 per cent. Depending on your repayment
  schedule, you could also avail of holiday
  discounts.

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• It's possible to earn enough while you study to
  repay these loans. Students can work up to 20
  hours per week while on a full-time programme in
  the UK, so depending on the level of their loans,
  this may help to cover the costs.

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• Another option that Indian students, especially
  those who have relatives in America, are warming
  up to is loans from a US bank at a favorable rate
  of interest. Most US universities have tie- ups
  with leading banks that provide student loans. If
  you can get an American citizen to stand
  guarantee for you, you can take this route. The
  issue of repayment can become an irritant when
  you go for your visa interview or are quizzed by
  immigration authorities at the airport. Visa
  authorities are as much concerned about repayment
  as the banks that disburse loans - no country
  wants defaulters within it shores.

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