With the flourishing neck-to-neck competition, taking an education loan has become more prerequisite for those students who dream of studying abroad. Most parents utilize their savings to finance their child’s education by liquidating assets. But nowadays parents have accepted the archetype of funding their children’s education by taking an education loan. As it is safer to finance your education by taking a loan to study abroad. There are many uses and benefits of education loans. Education Loan to Study Abroad will help to get closer to your dreams as there are various benefits of student loans. Read this article as it covers the advantages of education loans that any student can avail to study abroad.
The Great Advantages of Taking an Education Loan
Lower Interest Rates: When taking any loan like a home loan, vehicle loan, and personal loan, interest rates are predominantly higher as compared to education loans. The interest rates on study loans are much lesser. Even female borrowers get special discounts in all the government banks.
A Wide Range of Expenses Covered: Education Loan to Study Abroad covers almost every compulsory expense that the student might need which includes tuition fees, university fees, food expenses, living expenses, laptops, and other apparatus required for education to study abroad.
Pay After Your Education: It is one of the significant advantages of an education loan. The repayment holiday is also known as the moratorium period. In this period the EMI’s don’t start and students don’t have to make any payment to the lender. It includes a course duration of 6 months/1year so that the students can concentrate on their studies.
Tax Benefits: Loan applicants can benefit from the education loan by income tax exemption. In simple words, the loan applicant can proclaim the definite percentage of the interest paid for their education loan as deductible by the income tax.
Look at some other sources of funding for education loans:
Scholarships: Academic records of students who reflect exemplary skills in their curricular and extracurricular activities are awarded Scholarships to Study Abroad. Hence, these rewards are awarded only to a handful of such students. An education loan sanctioned loan letter is one of the proofs accepted by embassies of the USA, UK, Canada, Switzerland, New Zealand, Australia, and Ireland are some of the best-preferred Countries to Study Abroad for Indian Students.
The Bottom Line
If you are looking for study abroad services, look no further than “Edu-visa” They are one of the best education consultants who can turn your dreams into a reality. They are experts in admission counseling, IELTS/GRE/GMAT/PTE coaching, education loan, and many other study abroad services. They serve students across the globe through their world-class communication standards providing FREE admission assistance to more than 750 universities. Their expert consultants also give you the option to choose professional visa services at a reasonable fee. Get in touch now with them through their official link https://edu-visa.com/ for more details.
