Study loan : How to get the right education loan - PowerPoint PPT Presentation

About This Presentation
Title:

Study loan : How to get the right education loan

Description:

With timely Study loan repayment histories, students have been building great credit scores for themselves. In many cases, they get pre-approved loans for other requirements, based on impressive credit scores. – PowerPoint PPT presentation

Number of Views:53

less

Transcript and Presenter's Notes

Title: Study loan : How to get the right education loan


1
Study loan
2
How to get the right education loan
3
  • Whether it is for buying a house or a car or
    pursuing higher studies, loans are common today.
  • With college fees increasing every year, many
    have no option but to opt for education loans.
  • For undergraduate engineering courses, the fees
    could be Rs 5-10 lakh, while for a five-year
    medical course at a private college, this could
    go up to Rs 50 lakh.
  • For post-graduate courses such as those on
    management, fees could be more than Rs 10 lakh.

4
  • HDFC Ltd company, says, "We have been noticing a
    surge in the number of students going abroad for
    undergraduate studies.
  • Many students have started opting for the US for
    undergraduate studies," he says.
  • Banks offer loans of up to Rs 10 lakh for courses
    in Indian colleges and up to Rs 20 lakh for
    studies abroad, according to Indian Banks'
    Association norms.
  • But for post-graduate courses in premier
    management colleges in India, such as the Indian
    Institutes of Management, banks offer loans of up
    to Rs 20 lakh.
  • While the size of a loan depends on the course
    and the college, the ticket-size of student loans
    in India ranges between Rs 2 lakh and Rs 22 lakh,
    the average ticket size being about Rs 5 lakh,
    says Bohora.

5
  • These loans cover fees for tuition, examination,
    library, laboratory and hostel money for
    purchasing books, equipment, instruments and
    uniform travel expenses for studies abroad
    caution deposit or refundable deposit, etc.
  • In some cases, there are limits on some of these
    items. The loan also pays for expenses on study
    tours and project work.

6
  • Conditions for sanctioning a loan
  • While sanctioning a loan, a lender will check if
    a student has actually secured admission to a
    course, the quality of the college and the course
    (whether it is recognised by the University
    Grants Commission orhe All India Council for
    Technical Education), if the student has the
    ability to secure an appropriate job after the
    course and the credit history of the co-applicant
    or guarantor.
  • In case the loan is backed by collateral such as
    property (in case of high-ticket loans), lenders
    also consider the value of the property.
  • Under education loans, fees for tuition,
    examinations, library, etc, are paid directly to
    colleges.

7
  • Usually, it is the first loan a student avails of
    and, therefore, by repaying on time, students can
    build good credit histories this will be of
    immense help when they seek to avail of
    automobile loans, home loans, credit cards, etc.
  • "With timely Study loan repayment histories,
    students have been building great credit scores
    for themselves.
  • In many cases, they get pre-approved loans for
    other requirements, based on impressive credit
    scores," Bohora adds.
  • Source http//bit.ly/1MraBKv

8
Follow us on
https//www.facebook.com/AvanseEducationLoan
https//www.linkedin.com/company/avanse-financial-
services
https//twitter.com/avanseeduloan
https//plus.google.com/AvanseFinancialServicesLt
dMumbai
https//www.youtube.com/channel/UCcsuUx1EH1C08XmX2
embpug
9
Read more on Education Loans
http//www.avanse.com/avanse-education-loans/
Thank You..!!!
Write a Comment
User Comments (0)
About PowerShow.com