• 10 Jan 2024
• Msgrads
• Education

Education Loan : Key Points To Remember

Plan & choose wisely.

Planning is most important, whether you’re planning for graduation, post-graduation, postgraduate diploma, Certificate program, skill development medicine, aviation, or any other program you should plan six months from the date of your application.

For any graduation in India, the average cost of education would start from 5lakhs to 50lakhs, for medicine and aviation it may go up to 1.5Cr.

The average cost would be 5 lacs to 50 lacs, MBA, MD, and other postgraduate in India.

Plan at least six months before your new admission and finance need to arrange accordingly, Here is why financial planning is important if your aspiring student to study MBA in a premier college, IIM, ISB, IIT and other premier colleges the average cost of education would be around 20 lacs 45 lacs other than ancillary, which is quite a high amount for salaried or self-employed people those earning income 30k and 50k per month, the average income for salaried 20k to 50k in India it may vary in metro, non-metro and urban and semi urban cities, industry and Job category,  student cannot afford it immediately if these are not placed or plan for study his/her dream college.

Decision-

You have to decide in all aspects, where you’re going to study, elite college, premier, non-premier institution in India or abroad, university accreditation in case of abroad, tenure of the course, opportunities, whether the university or college specialized in what stream, faculty, infrastructure, placement record, opportunities, Cost of education, living expenses, ancillary, do you have enough income, savings or education loan to cover your course.

All you have to check before paying fees or transferring credits is college affiliation, deemed university, any relevant approval state, central education governing body, if it is USA university accreditation which is validation permitted by the governing body of the United stated,

Analysis & Content Idea

Preadmission loan, financial planning, admission confirmation, i20 confirmation, cost of education, self-funding, education loan, secured or collateral-free base loan in case of education, ROI, Fee, charges, forex, travel, and other analysis.

Tips & Marking

India's top 15 banks and NBFCs are offering education loans, better deals in terms of rate of interest, processing fee, other charges, mostly turnaround time, transparent service and hassle-free process and friendly customer services.

Collateral loans up to the cost of education, quick decisions, customer friendly processes, are major aspects of the education process.