The expenses for higher education have appreciated substantially in the past few years. Most of the universities abroad have a steep course fee, which students fail to meet on their own. The difficulty in arranging funds for higher studies often demotivate students to take a step forward. To alleviate this crisis of funds, many financial institutions offer education loans.
Education and student loans assist numerous students each year to fund their higher studies outside of India. Education loan eligibility is usually kept simple, considering the fact that students are not yet financially established. Loans extended for education meet not only the tuition fees but few related expenses pertaining to the academics.
Education loan schemes launched by the government
The Indian government has launched a number of initiatives to help students complete their higher education. Some of these initiatives also extend education loan for abroad studies. Have a look at government schemes related to education -
Padho Pradesh Scheme
Dr Ambedkar Central Sector Scheme of Interest subsidy
Central Scheme of Interest Subsidy for Education Loan
Eligible applicants can opt for these advances to back their education expenses. They may also check the eligibility parameters, EMI liabilities, etc. on an education loan calculator.
In case students need a higher sum to fund their studies abroad, they can opt for a mortgage loan. For instance, a loan against property could aid students to avail an amount up to Rs.3.5 crore against convenient terms.