Education loan
An education loan aims at sponsoring the college expenses of an
individual. Anybody who wishes to study abroad or even in a domestic
educational institute can opt for a student or education loan from any of the
recognized banks.
The basic motive behind the concept of education loan was to
help the aspirants economically and not let them murder their dreams due to
some economic constraint. Added to this, such loans have only helped many of
the students in going overseas without worrying about any financial
limitations.
Education Loan functions by helping students with their tuition
fee, dorm room fee, laptop, books, stationary, travel for as long as they are
studying in a college.
And you start repaying the principal portion of the education
loan six months to a year after finishing the course, or when you get a job,
whichever is earlier. The repayments include a tiny sum of interest along with
the original loan amount.
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