Education loan
An education loan aims at sponsoring the college expenses of an individual. Anybody who wishes to study abroad or even in a domestic educational institute can opt for a student or education loan from any of the recognized banks.
The basic motive behind the concept of education loan was to help the aspirants economically and not let them murder their dreams due to some economic constraint. Added to this, such loans have only helped many of the students in going overseas without worrying about any financial limitations.
Education Loan functions by helping students with their tuition fee, dorm room fee, laptop, books, stationary, travel for as long as they are studying in a college.
And you start repaying the principal portion of the education loan six months to a year after finishing the course, or when you get a job, whichever is earlier. The repayments include a tiny sum of interest along with the original loan amount.
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