“The function of education is to teach one to think intensively and to think critically. Intelligence plus character – that is the goal of true education.” – Dr. Martin Luther King, Jr.
Quality education is what shapes students by developing their skills, intellect and character. Therefore, one should never settle for anything less than what they have planned for their academic and career goals. With an education loan, you can achieve all your academic aspirations. Here’s what you must know about the benefits of an education loan.
Key highlights:
- About Student Loans
- Benefits of Education Loan
- Education Loan vs Savings
- Quality Education
- Atmanirbhar
- Credit Score
- Broad Spectrum
- An Investment that Earns you Returns for a Lifetime
- Why Take an Education Loan from Avanse Financial Services?
About Student Loans
A student loan is the amount that you borrow to fund your education independently, without depending on your parents. You can repay the student loans through simple interest (SI) or partial interest (PI) during the moratorium period and Equated Monthly Instalment (EMIs) after completing your studies or once you commence your employment.
So, why take an education loan? Education loans are a prudent choice as they bridge the gap between you and your academic ambitions. Also, student loans come with multiple benefits.
Benefits of Education Loan
Education Loan vs Savings
It takes a lot of effort and time to accumulate family savings to be prepared for emergencies. If you liquidate your family savings and assets to fund your studies, you will be left with nothing in case of unforeseen circumstances.
If you are wondering, is an education loan better than savings or if a student loan or self-funding is a sound choice, the answer is definitely a student loan, as it will allow you to fall back on your savings during contingencies.
Quality Education
You can access impeccable education at your dream university without making any compromises. Quality education is the foundation which will impart the necessary knowledge and skills required to excel in life. Student loans cover the holistic cost of education, including tuition fees, accommodation costs, travelling expenses, the cost of learning devices, living expenses and other education-related expenses.
Atmanirbhar
Students these days do not prefer to depend on their parents to fund their education. An education loan gives you the opportunity to flaunt your self-made badge by financing your studies independently.
Credit Score
You are now at a crucial juncture in your life where you eventually need other financial products, such as a home loan, car loan, or credit card. When you repay your education loans, it enhances your creditworthiness among the lenders. This will unlock several benefits when you opt for other financial solutions.
Broad Spectrum
Student loans are offered for a plethora of courses, including mainstream such as STEM and MBA, off-beat such as Food Technology, skilling, upskilling, reskilling, and vocational study programmes. If you want to study abroad, you can opt for an education loan for studying abroad. If you want to study in India, study loans are available for courses in India too.
An Investment that Earns you Returns for a Lifetime
Once you fulfil your academic dreams by opting for a student loan, you can launch your successful career, profession or business. Besides, you develop skills such as analytical, critical thinking, and creative thinking, which will enhance your career further. The network you build during your academic life can open new career opportunities for you, too.
Why Take an Education Loan from Avanse Financial Services?
At Avanse Financial Services, we offer student loans with benefits such as 100% finance, quick loan sanctions and flexible repayment options. Also, you will be glad to know that we have launched an Avanse Freedom Offer, a special, limited-period initiative that provides attractive interest rates on education loans for students planning to study abroad. Interest rates to study in the US start at just 9.99% and for other overseas destinations start at just 10.5%. This offer is valid only till 31 August 2025.
So, these are the advantages of an education loan. Now, don’t let anything come between you and your academic aspirations. You can try our education loan EMI calculator, so you can find estimated EMIs based on different combinations of tenure and loan amount. If you have any doubts, please share them with us. We will be glad to partner with you on your academic journey.
Also Read: Education Loan Qualification: What You Need to Be Eligible
