A student loan is the best option to finance your higher education whether you study abroad or in India. You can opt for a secured or unsecured student loan depending on your financial preference. For a secured loan, you will have to offer collateral security against your education loan. Unsecured loans do not need you to provide any security. These student loans offer several benefits. Let’s take a look.
Your parents work really hard to save money for your education and also for contingencies. However, the cost of education is skyrocketing, which often forces them to liquidate savings. You can help them save for their retirement and also for the rainy day by opting for an education loan.
Many students pride themselves on earning their self-made badges by opting for an education loan. Imagine financing your higher education independently without depending on anyone. This way, you never have to borrow from your parents, relatives or friends. You can start paying EMIs towards your education loan once you find employment or choose to make a small contribution in the form of simple interest or partial interest during your higher academic journey.
The cost of education will have several components that you have to consider when you plan your higher studies. The expenses that you have to bear in mind are tuition fees, accommodation costs, living expenses, travelling expenses, library fees, study material expenses, cost of learning devices and more. Most financial institutions offer an education loan that covers all the educational costs.
If you responsibly repay your education loan, you can build your credit score. A healthy credit score increases your creditworthiness among lenders. This will enable you to avail better deals on other financial products such as home loans, car loans or credit cards in the future.
Opting for an education loan is a wise decision. However, repaying your student loan requires planning. You have to chalk out an effective repayment strategy by setting some amount aside for emergencies and spending judiciously to ensure you pay your EMIs on time. This encourages you to adopt a financially disciplined approach early in your life.
Financial hurdles can create a roadblock in your academic path. Why should you compromise on your dream university, study program or study abroad destination? You can secure that coveted university spot by opting for an education loan. This decision will have a great impact on your professional career. A well-ranked university and highly in-demand study program will give you a perfect head start in your career.
We at Avanse Financial Services are dedicated to our mission to provide seamless and affordable education financing for every deserving Indian student. Hence, we extend multiple benefits to our student fraternity. We offer an education loan to cover the holistic cost of education, including tuition fees, accommodation costs, living expenses, travelling expenses, library fees, study material, cost of learning devices, and other education-related costs.
Furthermore, we offer 100% finance, which means you don’t have to worry about arranging the margin money. You can benefit from customized loans, fastest sanctions, score-based solutions and more.
So, these are some amazing benefits of an education loan. If you any doubt or need any assistance with your academic journey planning, you can connect with us. We will be glad to partner with you on your academic journey. All the best!
We always aim to offer you competitive interest rates on your Avanse Education loan.
The rate of interest on your loan is calculated as: Interest Rate = Avanse Base Rate + Spread.
Our current Base Rate is 14.25% (WEF 01.05.2023).
The Spread is floating and is based on analysis of overall credit and course profiling.
This rate is subject to the terms and conditions of Avanse Financial Services Ltd.