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Steps to Get a Student Loan

Study Loan In India aims at providing financial support to deserving/meritorious students for pursuing higher education in India and abroad.

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Steps to Get a Student Loan

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  1. Steps to Get a Student Loan

  2. Education is an asset. Here are a few steps to get a student loan. • The first step is to find a financial institution or bank of one's preference. Their interest rates have to be checked. Banks usually ask for the offer letter of admission from the candidate. They verify it first. The standard of the course and the institution are both taken into consideration.

  3. A guarantor on behalf of the student is required if the initial parameters are met. A term insurance is then done in the candidate's name. A term insurance provides high cover and the rate of premium is very low. It is done to ensure that in case of an untimely demise of the student, the loan can be paid back.

  4. The bank provides costs of books, fees, computer, hostel etc. In case of a full time course, a payment holiday is given. The student can start paying back the loan after one year of completion of the course or after getting a job. The earliest is considered in this case.

  5. The repayment has to be made in form of equated monthly installments. No payment holiday is given in case of part time courses or executive courses. This payment holiday is termed as moratorium period. Study Loan In Indiais available both for undergraduate and postgraduate studies.

  6. Thus it is very easy to get a student loan. It is advisable to check the quality of the course and it's job prospects. So if one has the determination to study, there is always a way out.

  7. The Indian government is trying to make norms and procedures of getting a student loan simpler. Hence things will become easier. Nothing is more valuable than education as it stays for a lifetime. Hope these steps will be helpful in securing a student loan.

  8. Source: http://EzineArticles.com/2530575 https://www.facebook.com/AvanseEducationLoan https://www.linkedin.com/company/avanse-financial-services https://twitter.com/avanseeduloan https://plus.google.com/+AvanseFinancialServicesLtdMumbai https://www.youtube.com/channel/UCcsuUx1EH1C08XmX2embpug

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