Die Anpflanzler [DA] » dying abroad is a dream of every ch

Studying abroad is a dream of every child. Given a chance J.J. Watt Jersey , they would love to go to their favourite university overseas. Scholarships and grades do come in handy in reducing the cost of the university fees. But what about the remaining amount? Your savings would not help here, considering the value of the education has increased manifolds over time. Educational loans can only bail you out from the scenario.

What is an educational loan?

Educational loans are given to meritorious and deserving candidates, generally. They are offered by banks and non-banking financial companies (NBFCs). With the help of the loan, students can pursue their undergraduate Cullen Gillaspia Jersey , graduate, post-graduate, professional and doctoral courses efficiently. Unlike the personal loans, you can start repaying educational loans once you start earning.


If you want to take an educational loan for abroad studies Kahale Warring Jersey , you have to be aware of certain facts concerning the loan. They are:


1) Covers additional expenses: There is a common misconception that an educational loan takes care of only the tuition fees. False. An educational loan also manages your costs regarding accommodation, books, flight tickets and even day-to-day expenditure.


2) Subsidised loans: In case your family's annual income is INR 4.5 lakh, then the government provides a subsidy. The moment you start paying your equated monthly instalments (EMIs) Max Scharping Jersey , the government pays the interest on your behalf. So, you only have to pay the actual loan amount. However, there are some points to remember in this situation:


- It is not an interest-free loan as the bank still earn the same amount of money


- The subsidy service is applicable for only students who wish to study in India


3) The overseas factor: If you have taken an educational loan for abroad studies, there are chances you will find a job and start earning in dollars in that country. This way your credit gets cheaper as the depreciating value of Indian rupee will work in your favour.


4) Tax-benefits for parents: Most of the educational loans come with tax benefits. As per the Section 80E of the Indian Constitution Lonnie Johnson Jersey , you can earn a tax deduction for a total equal to your interest amount. It lightens the load of your parents鈥?shoulder. Note that you can use this deduction only to pay off the interest and not the principal amount.


5) No pre-payment charges: The best part about an educational loan is that no penalty is levied on pre-closing the loan amount. However, you can do so only after a stipulated period, i.e. after 6 months.

Now that you are aware of the benefits you earn from educational loans; the following are some points to keep in mind before applying for one:

1) Always look for loans that have zero margin
2) Since you can apply for loans online, check the interest rate offered by other lenders
3) Look out for universities that are linked with certain lenders
4) Repay your educational loan after accessing your future earning capacity



Author Bio:- Neha Sharma is a finance student who loves to write in her free time. She has spent considerable time researching about educational loan. Through her work Tytus Howard Jersey , she provides tips before applying for one.

Total Views: 35Word Count: 553See All articles From Author


GBC Shredmaster 6550X Heavy Duty Cross Cut Shredder Review Business Articles | August 20, 2010
Departmental shredders are becoming more popular these days as companies try to minimize costs while still providing their employees with the necessary equipment. One excellent system for this purpose is the GBC Shredmaster 6550X Heavy Duty Cross Cut Shredder. This heavy duty machine is designed to withstand high volume use in large offices with 20 or more users. Here's a closer look at the details of the 6550X.


Departmental shredders are becoming more popular these days as companies try to minimize costs while still providing their employees with the necessary equipment. One excellent system for this purpose is the GBC Shredmaster 6550X Heavy Duty Cross Cut Shredder. This heavy duty machine is designed to withstand high volume use in large