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Tax Deductions on Education Loans in India

Earlier posts on finance.oriyaonline.com were meant to educate the readers on education loan defaults. In the current post on education loan , lets take time to understand the various aspects of tax benefits involved in education loans.

Workable Tips for Repaying Student’s Loan in India

Financing one’s education through study loan is increasingly getting popular in india and more and more students are getting their higher studies completed by getting a study loan. However paying this debt off is a major concern for students once they set their foot in the job market! Nobody ever likes carrying on the burdensome loan on his back till every borrowed penny is paid back!

Extension of Repayment Period – A Right Solution For Study Loan Defaulters

In a recession hit economy, the prospects of job seekers suffer more than anybody else. And if you are one of those unfortunate students who has funded his education with a loan and is making it at a time when the economy has taken a plunge southwards, nothing can be more onerous than the prospect of having to start with repaying the loan EMIs!

Options When You Fail To Get a Job And Can’t Repay Your Study Loan

Ever since  education loans were introduced in Indian Market by SBI in 1995, they been one of the favorite ways for students to fund their own education. Banks help the students by allotting them the required funds to cover their studies and study related expenses in the hope that the money invested on you by it get repaid with interest once you land into a job.

Factors to compare before opting for Education Loans

Entrance exams in India have never been more competitive! One estimation puts the number of students appearing the AIEEE exams this year to be more than 4 lakhs. Its hardly surprising then that with so much competition around, the associated cost of financing the education is also going dearer and dearer!

List Of Banks Providing Study Loans in India with Interest Rates

For a student who wants to fund his education by taking a loan from bank, the most challenging thing is to locate a bank that would finance his studies. Although most banks in India have the provision for financing study loans, the interest rate varies from bank to bank. The most important factor that goes for fixing the interest rates is the location of the institute where the student would continue his education.

Eligibility Criteria For Educational Loans in India

All banks function under a set of rule and gyuidelines when it comes to disbursement of loans. The same hold true for educational loans. If you are a student who has applied for bank loan for education or is thinking to approach a bank to fund your education, you need to be aware of the various criteria that come to play during educational loan disbursements by the banks.

So what are the eligibility criteria for educational loans in India? These are enumerated below:

Education Loans in India – An introduction

The spread of self-financing institutions for higher education in India in the fields of engineering, medical and management has necessitated that the students to meet the cost of their education themselves and the cost attached with such higher studies is nothing but astronomical!

Education loans come to the rescue of students here. Education loans in India have existed for quite some time now and they cover not only the cost of tution fee but also the costs involved in the pursuit of academics.

Why, What and How of Managing EMI Defaults

Availing a loan from banks these days is an easy affair. All that You need to do is furnish documents of income and identity and you are off with loans that would take care of your need. However, clearing the loans back with interest is something that takes a toll on your earning. And there are times when one starts feeling the pinch and start wondering how safe was life without the loan?

Well, it’s a fact that is bitter but true. Loans hurt very bad!

Consequences of Bank Loan default and How To handle it

Well, many people tend to lose their sleep over the prospect of defaulting on the bank loan. However this is an issue that can be handled with perfect ease if poise is maintained and things are done correctly. So let’s make an attempt to understand this issue from two perspectives – 1. Consequences of loan Default. 2. How to handle it.

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