5 lesser-known facts about education loans that students must know
NBFCs have witnessed a substantial increase in educational loans, with loans surging from 13,000 crore to over 25,000 crore in fiscal year 2023.
Education loans cover various expenses beyond tuition fees, including travel, accommodation, learning devices, living expenses, and more.
NBFCs offer financial support for a wide range of courses, including unconventional and specialized programs in addition to traditional ones.
Education loans are a reliable alternative to liquidating assets or depleting family savings, preserving valuable investments and financial security.
Taking an education loan allows students to build a robust credit history at a young age, paving the way for better financial opportunities in the future.
Early loan repayment with simple interest during the grace period helps students manage their loans more effectively and develop financially prudent habits.
Students can choose from various repayment methods, making the process seamless and convenient.
A thorough understanding of these education loan facts empowers students to make informed decisions and navigate the complex world of student loans effectively.
Education loans are a vital tool in making higher education accessible to students.
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