Are student loans from foreign fintech firms a good idea?
Jun 30, 03:06

Some students traveling abroad are taking education loans from fintech firms based abroad. This is either because their applications were rejected by Indian lenders or they are looking to eliminate currency-fluctuation risk. One major attraction of such education loans is that they are collateral-free. While their interest rates compete with private banks' education loans, their loan tenures tend to be shorter. Also, fintech-education loan borrowers are not entitled for income tax deduction under Section 80E. Education counselors advocate applying for loans that offer lower rates, convenient repayment terms and suit your overall needs.

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