Nothing can replace quality education when it comes to building a bright and successful future for your child
and education is the only thing that can get a happy life going. However, due to the rising cost of higher education
for students in India as well as abroad, parents are finding it more and more difficult to self-finance their
children's education hence there is a huge demand for loans to cover education expenses. Unlike most educational
institutions today, educationalloans are given to meritorious and deserving students so that nothing hinders their
progress and they achieve the best of education in India or abroad. At present, almost every Indian bank and NBFC
offer education loans in India to students interested in pursuing a wide range of graduate, post graduate,
professional and doctoral courses/degrees..
The quantum of expenses covered by this type of loan covers not just the direct expenses such as tuition fees
and registration/examination fees, but also allied expenses such as those for uniforms, lab equipment/tools
required for the course, travelling expenses and laptop. Aside from the fee payable to the school/college,
other expenses covered by most education loans include
Under this Scheme Interest is given during the moratorium period i.e., Course period plus
one year on Education Loan taken from the Scheduled Banks under the Model Education Loan Scheme of
Indian Banks Association to students belonging to economically weaker sections whose annual.