Pursuing higher studies ensures knowledge expansion and opens lucrative career opportunities. However, education inflation makes it an expensive affair. Therefore, students turn to education loans to finance their education independently and realise their dreams of pursuing higher studies, but figuring out the total expenses can be tricky. This is where the College Course Expense Calculator can help you. Let’s dive in and learn some interesting aspects of this calculator.

Key Highlights

• What are the primary expenses while pursuing higher education?
• What is a College Course Expense Calculator?
• Benefits of using College Course Expense Calculator
• How to use the Avanse College Course Expense Calculator?
• How to calculate EMIs using an interest rate for an education loan?

What are the primary expenses while pursuing higher education?

Before discussing the College Course Expense Calculator, let’s take a quick look at some major costs associated with higher studies:

• Tuition fees: This is one of the significant expenses, and students will have to keep in mind the cost of all the semesters. The fees will vary based on factors like country, university, and program selected.
• Cost of learning devices: The cost of learning devices will include study materials like laptops, printers, etc.
• Accommodation expenses: If you are studying away from your city, town or country, you have to factor in rent too. You can stay in a rented place or opt for on-campus accommodation while studying. The type of housing and the location will determine your accommodation expenses.
• Travelling expenses: Consider costs such as airfare and your daily commute. Moreover, don’t you plan to explore surrounding places during holidays or in your free time? All this will be part of the travelling costs.
• Living expenses: The living expenses include the cost of food, clothing, and other related expenses.
• Miscellaneous expenses: This includes personal and recurring expenses such as phone bills.

 

Kindly consider the emergencies and inflation while calculating the overall education cost. You can easily get an estimated cost of your course by using a College Course Expense Calculator.

What is a College Course Expense Calculator?

College Course Expense Calculator is a free online tool that gives you an estimate of the overall education expenses. This projected cost will include all major elements like tuition fees, living expenses, travelling expenses, accommodation expenses, and other education-related expenses. It will become easy to decide the right student loan amount once you have a fair idea about the money needed to meet your educational expenses.

Benefits of using College Course Expense Calculator

Taking the right education loan amount helps to reduce your financial worries in the long run. This is where the College Course Expense Calculator proves to be useful. Some of the benefits of using this calculator are as follows:

• It gives you a fair idea about the money you may need to borrow to meet your study expenses.
• Approximate education cost required to fund your education encourages responsible borrowing and ensures better financial decision-making.
• It is fast, easy to use, and gives accurate results.

 

How to use the Avanse College Course Expense Calculator?

In this online calculator, enter details such as personal savings, family savings, other income, the tentative cost of the tuition fee, living expenses, accommodation expenses, cost of learning devices, etc. Once you submit these details, the estimated cost of your study program will be displayed in a few moments. This is a great way to approximate the student loan amount you need to borrow. So, avoid the mental math - use the calculator!

How to calculate EMIs using an interest rate for an education loan?

Calculating education loans’ Equated Monthly Instalments (EMIs) is fast and easy with the Education Loan EMI Calculator. This EMI calculator helps you understand the estimated EMI that you need to pay for the selected loan amount and tenure. You need to enter the details like the loan amount, interest rate (pre-decided by your financial partner), and tenure of the loan. The EMI calculator will show your estimated EMI within seconds. As per your financial requirement, you can increase or decrease the loan tenure or loan amount to find an EMI that suits your monthly budget.

Pursuing higher studies, whether overseas or in India, demands a huge amount. Therefore, students opt for a loan for education. At Avanse Financial Services, we offer hyper-personalised education loans with multiple benefits, including 100% finance. We encourage students to make prudent financial decisions by using online tools like College Course Expense Calculator and Education Loan EMI Calculator. To get more details, connect with us today!