So friends today we are going to talk. About Education Loan It has become very easy to get education loan today as compared to 6 years ago. Friends, apart from this, with the increasing cost of education i.e. education expenses, education loan has become such a facility by which the student can meet the expenses incurred in his studies. So friends, if you are also troubled by the high cost for your studies, then this loan can be of great use to you.
On what things the bank gives loan for education loan.
- So friends you can get education loan for college/school/hostel fees.
- Friends, you can get education loan to pay the fees of examination / library / laboratory.
- You can also get a loan for books/equipment/uniform if life insurance premium is applicable for the student.
- Friends, if you are doing a course and you need money for its fees, then to complete it.
- Friends, if you need a computer for study, then you can also get a loan for the purchase of computer at a reasonable cost.
- You can also take a loan if you need to meet any other expenses required to complete the course in your education – such as study tours, project work, thesis, etc.
How much loan will you get on education loan.
Friends, let us tell you that the amount of child available on education loan varies, if you want to study in the country, then the bank can give you a loan of 10 to 15 lakhs. If you want to take a loan for abroad, then you can get this loan more than 20 lakhs i.e. in case of abroad, this amount can be more than 20 lakhs. The loan amount is not fixed. And the amount received on education loan in different banks can be more or less.
Who can get education loan?
- Friends, you must be an Indian citizen to apply for education loan.
- Friends student should take admission in regular full time degree/diploma courses in premier institutes then you can get education loan.
- Post Graduate Program in Management for Senior Executives (PGPMAX) offered by Indian School of Business (ISB) Hyderabad and Mohali campus.
- Part time Post Graduate Program in ‘Executive for Management in Executives’ offered by Indian Institute of Management (IIM) in all institutes.
Friends, in this matter, tax expert Balwant said that the students have to first decide that they want to fall from the institute. Where do you want to take education, what course do you want to take? After this he told that the bank does not demand third party guarantor for the loan of 4 lakhs. He said that before giving lawn, you will make sure that in which institution you are taking education.
He told that without paying interest in income tax, the benefit of any limit is available. This benefit is available for 8 years from the time of clam opening. And you can start paying it one year after the completion of the course or 6 months after getting the job.
Process of taking education loan.
Friends, you will be curious to know what will be the process of taking education loan. So let us tell you that the students or their parents can apply for education loan from the bank for the graduation or professional course of the children. Friends, it will be easy for you to take education loan from the bank where you have your account. If the educational institute is recognized by the government, then it can be easy to take education loan.
Hope you liked this post, for more information, you can find out in your nearest bank, if you want to know about other loans, then visit or search our website.