Do you want to secure a seat at your dream university so you can build a promising career, but a lack of funds is a roadblock in your way to success? An education loan can be a prudent choice in this case, enabling you to fund your education independently. Let’s learn about the many benefits of student loans and how you can unlock career opportunities with an education loan.
Key highlights:
- How to Boost Career Opportunities with an Education Loan?
- One of Many Education Loan Benefits – Independence
- Education Loan for Career Growth and Quality Education
- One of Many Education Loan Benefits – Study at Your Dream University
- Education Loan Impact on Career – Based on the Courses You Choose
- Build Your Credit History
- Choose from Flexible Repayment Options
- How to Find the Right Education Loan Partner
- Who can Apply for Education Loans?
- How Avanse Education Loans Can Help You
How to Boost Career Opportunities with an Education Loan?
Many students these days opt for an education loan so they can turn their dreams into reality. A student loan is a tool that enables you to achieve your academic aspirations, whether you want to study in India or abroad.
One of Many Education Loan Benefits – Independence
An education loan will allow you to finance your studies independently without being dependent on your family or guardian, so you can pursue your academic goals with confidence. By financing your education yourself, you take ownership of your life and demonstrate a sense of responsibility, which is a trait that employers will appreciate. This self-reliance and availability of adequate funds could boost your confidence and let you focus on learning and career-building opportunities rather than stressing over the lack of funds.
Education Loan for Career Growth and Quality Education
Education loans will cover not only tuition fees but also other significant academic expenditures such as accommodation, travel, study materials, living costs, the cost of learning devices, and other education-related expenses. So, you will never face financial barriers to quality education. By investing in better educational infrastructure and learning experiences, you will be exposed to world-class teaching, resources, and networks, which are prerequisites for building a successful career.
One of Many Education Loan Benefits – Study at Your Dream University
With an education loan, financial constraints no longer bind your aspirations. You may apply to any of the top-ranked universities around the world and get enrolled in the institution of your dreams, irrespective of its geographical location. An educational loan to study abroad is available for overseas education, or you can opt for student loans to study in India. Studying at a reputed university will open doors to worldwide exposure, the latest knowledge, and new experiences, which will take your career prospects and employability to a whole new level in the global job market.
Education Loan Impact on Career – Based on the Courses You Choose
Select from the wide range of courses that will lead to in-demand jobs in the market. These are not restricted to mainstream courses such as STEM and MBA, but also extend to skilling, upskilling, reskilling, and even vocational training programmes, including other off-beat courses such as Food Technology. It will give you the flexibility to pursue education goals aligned with your career goals. Learning skills that support your career choice will ensure that you remain competitive and future-ready in an evolving job market.
Build Your Credit History
You can build a healthy credit history by repaying your student loan. A good credit score will unlock many financial benefits in the future, when you opt for a home loan, car loan, or credit card. This financial credibility will also contribute to your professional growth by helping you make key life and career decisions with greater confidence and independence.
Choose from Flexible Repayment Options
Education loans are available with flexible repayment plans tailored to your financial situation. You can pay in the form of simple interest (SI)/partial interest (PI) during your course and Equated Monthly Instalments (EMIs) after your course.
These flexible options make the repayment journey easier, letting you focus on building your career without any stress. Managing your loan responsibly enables you to develop financial discipline, another important skill for long-term success.
How to Find the Right Education Loan Partner
When choosing the right education loan partner, students make a common mistake by merely looking at the interest rates. There are a lot of other factors that determine the right student loan provider. You need to conduct thorough research to know about the customer service being provided by the lender, as a responsive and supportive customer experience will make a huge difference in your education loan journey.
Also, you must check which costs are covered by the student loan and the time taken for sanctions. Furthermore, check the options for repayment. All the above aspects, if evaluated properly, can help you pick a student loan partner who will support you in every step of your academic journey, right from admission to the repayment stages.
Who can Apply for Education Loans?
The basic eligibility will change depending on your chosen lender. However, the common eligibility requirements are as follows:
Students can apply if they
- Are Indian citizens who are 18 or older
- Have a confirmed admission before the final disbursal
- Have a co-borrower who earns in India
Co-borrowers also need to meet the following criteria
- Must be an Indian citizen and should be a parent, legal guardian, sibling or other blood relative
- Must have a bank account in India that allows them to sign cheques
- Must be the primary debtor
How Avanse Education Loans Can Help You
At Avanse Financial Services, we offer customized student loans that cover the holistic cost of education, including tuition fees, travelling costs, accommodation expenses, living expenses, the cost of learning devices, and other education-related expenses. Furthermore, you can benefit from 100% financing, quick loan sanctions, and flexible repayment options.
If you have any further queries about education loans, education loan interest rate or your academic journey planning, please connect with us. We will be glad to assist you.
Also Read: Understanding Education Loans: Types and Collateral Options
