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Compare education loan interest rates from top banks like Union Bank, PNB, SBI, and others, to secure the best deal for studying abroad with loan amounts up to Rs 50 lakh.
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Education loans for studying abroad range from 8.25 percent to 10.25 percent interest, with Union Bank of India offering the lowest rate at 8.25 percent.
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Making the right choice can save money and reduce financial stress.
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Education loans for studying abroad cover a range of expenses including tuition fees, living costs, laptops, books and travel
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The interest rates range from 8.35 percent (Punjab National Bank) to 11.08 percent (Axis Bank).
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Many parents are facing financial strain due to incessant school fee hikes, but an option like loans for school fees can ease their financial burden. However, failure to repay monthly instalments may result in the school withholding your child's report card, as per terms.
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Students can access loans through options like student loans with a guarantor, fintech platforms, peer-to-peer lending, and government education loan schemes. While these loans offer financial support, it’s essential to compare interest rates, repayment terms, and eligibility criteria before borrowing.
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It is wise to start saving and investing early to build a sufficient corpus. You can take a call on whether taking an education loan is a better option at the time of making the actual payment.
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The PM Vidyalaxmi scheme offers collateral-free education loans, ensuring financial support for meritorious students. With easy online applications and interest subsidies, it aims to help 22 lakh students pursue higher studies.
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Rising education costs go beyond tuition fees. Learn more about how an instant loan can help you with meeting the extra educational costs —accommodation, books, and daily expenses.
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Securing an education loan for studying abroad involves careful planning and research. Early application and exploring scholarships can ease the process, helping you achieve your dream of studying overseas.
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Reducing your education loan EMI burden is possible with a few strategic steps. Adopting an income-based repayment plan, increasing EMI as your salary grows, and following a strict budget can ease the financial load, allowing you to manage debt more comfortably.
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Launched by former PayU executive Prashanth Ranganathan, Singapore-headquartered Zinc aims to help Indian families financially prepare for their children’s overseas education, offering services in wealth management and tailored education planning.
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PSBs disbursed Rs 24,997 crore in 2022-23 and Rs 28,699 crore in 2023-24, Minister of states for Finance, Pankaj Chaudhary said.
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Study Abroad: You should have a strong academic record and a confirmed admission letter from a recognised university to strengthen an education loan application for studying abroad. Avoid giving false information in the application form to process the loan. These can cause rejection of the education loan.
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Education financing is pivotal in ensuring equitable access to higher education for students from all walks of life. However, it demands careful navigation to sidestep potential financial traps.
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While many banks offer education loans for study in India and abroad, not every student may be able to get one easily and at an attractive interest rate. A lot depends on the pedigree of the institute that you have got admission to. Read on to know more.
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Mumbai-based Tata Capital is providing education loans for those seeking funding to pursue higher education in India, USA, Canada, UK, Australia, New Zealand, Germany, Singapore and Dubai (UAE)
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The non-performing assets in education loans stood at 7.82 percent of a total outstanding portfolio, at the end of the first quarter of FY23. The number of students opting for foreign education using education loans has been increasing but repaying these loans can be a challenge. There is a way out though.
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Education financing is no longer an option; it has become a necessity. The good news is that there are many ways in which you can get financing and secure your child’s future. We feature a few of them.
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Outstanding education loans jumped to Rs 97,756 crore on May 19 from Rs 82,662 crore a year ago.
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According to independent analyses, the people eligible for debt relief are disproportionately young and Black. And they are concentrated in the middle band of Americans by income, defined as households earning between $51,000 and $82,000 a year.
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Since financial markets are volatile, you have to assess if you are on track towards your financial goals. A few small tweaks can help you stay on track, when things appear off track.
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Students can obtain education loans once they secure admission letters is one of the biggest misconceptions, Arindam Sengupta of Edufund tells Preeti Kulkarni
