ppt 14 - A complete guide to Consider before applying for the Educatio

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Category: Education
     
 

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Education loans are the key tools that help one in completingtheir appropriate study process without any break or gap.

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A complete guide to Consider before applying for the Education loans.

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Education loans as the name suggests are the amount of money borrowed by an individual from the perspective of studying and career building. Education loans are the key tools that help one in completingtheir appropriate study process without any break or gap. The major factor required for the continuous educational process is Money. Money can buy one every dream career he or she wants. The education process has all become money based and that leads to the introduction of the concept of Education loans . Being well educated is necessary to survive in today’s advanced society. The society is the base for competition. Anything anindividual does, he or she does it from the sole perspective of establishing a strong stand in society. And it is well known how education influences the society. Therefore investing in one's education is never proved to be harmful. Education loan is the magic tool to cope with one's financial weakness. It helps one in establishing a secure career by providing them support financially.

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The borrowing of education loans consists of several factors that need to be taken into consideration. What is an education loan? An education loan is a process of borrowing money from afinancing organisation which involves Principal amount- It is the amount of money borrowed by an individual . Rate of interest - It is the small amount of fee charged by the financing Organisation on the principal amount financed . Tenure - It is a duration up to which the loan amount can be repaid. The financing organisation may be any bank or private body . What does an education loan cover? Education loan covers full tuition fees of the applicant. Along with that it also covers for theiraccommodation , library fees, examination fees as well as other related fees .

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Who can apply for the Education Loan? The education loan application is mainly filled in the name of the student who wants the loan. Apart from the Student, family members can be the co-applicant. After the application process, the loan is provided to the student. Student can apply for the loan for studying in India as well as for the abroad education. What courses education loan covers? Education loan provides money for various full time as well as part-time courses. They also provide Loan at various level of study including undergraduate level, graduate level as well as postgraduate level. For diploma and certificate courses too education loan can be availed . What are the Eligibility Criteria? Different banks have different criteria to satisfy before providing the loan amount. The common requirement includes the students should have an acceptance from a recognised University or college. Few documents specifying the ID proof, address proof, etc, are also required to be submitted.

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When is Collateral required? Banks or any other financing body can provide loan up to 100 per cent but only on one condition. The bank requirescollateral on behalf of the loan Sanctioned. Up to a certain amount, no collateral is required but as the loan amount proceeds above the specified range, it requires collateral. The specified range varies from bank to bank. What is the last step before the education loan is sanctioned? Education loan is sanction only after all the documents, as well as the application submitted by the applicant, is properly verified by the financing body. Conclusion Many people do think that opting for a loan is highly disadvantageous. But that’s not true. Education loans can be your life booster as it gives one stability in their career building.One should properly investigate and if found appropriate should opt for education loans so as to achieve the dream career they want. For More Details Visit Website : eduvanz

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