by disha mehta
Published Wed, May 10th 2017, 12:18 | Finance
India is a hub of educational institutes with around 17000 colleges and 383 universities. These college and universities have made study in India more feasible. Various courses are offered by the colleges and the universities in the fields of science, arts, technology, engineering, literature and so on. India is second biggest center for higher education by offering globally recognized courses. The costs of education are not only low as compared to other countries which make study in India affordable to the students. The education system of India is famous all over the world. International students are attracted towards education in India as there is peaceful, welcoming and the education is also less expensive as compared to other countries.
With English as the major medium of instruction which makes study in India worth when it comes to pursuing higher degree or diploma studies. Education in India becomes exciting as the country offers diverse culture. The government of India has been offering various grants and scholarships for higher education which makes education in India more feasible. Also educational loans are available for study in India at a lower interest rate of around 12.75 % with a nominal processing fee of 1-2 % of the loan amount.
The education loans are offered to study inIndia by various banks and non-banking financial institutions. Here are some features of these study loans:
Study loans offered cover tuitions fees, library fees, form charges, traveling, accommodation charges and also flying expenses to an extent. So before you take a loan make sure you jot down your expenses properly. Also take up a part time job or go for a scholarship to reduce the burden of the loan.
The education loans to Study In India have flexibility in the repayment options. You can either start paying with the loan or opt for moratorium period. When you opt for moratorium period you can either pay the loan after one year of completing the course or six months after getting a job.
The banks and the education loan institutions not only provide financial assistance but also provide career guidance to the students who are taking educational loans. This makes them choose a right kind of education loan for their higher study.
Based on your GRE scores suitable discounts are given on the interest rate of the loan. This makes them more affordable for the students.
When you take up an educational loan to study in India you actually start building up a credit score at the beginning of your career. This will help you in future when you avail for a loan in the future while setting up your business or anything else.
The study loans have now become easier and are a click away as the banks the study loan companies provide transparent information on the loans over the internet. You can simply go on the website and fill in the required information and avail for the suitable study loan.
Whenever you avail for a loan to Study In India make sure you compare those it on online comparing sites. And go for a loan which has lower rate of interest and offers flexibility in the repayment options so that your education loan is not burden.