We all know the importance of education in the future endeavors of a child. Quality education is irreplaceable and needs to be given utmost importance. Building a bright future to keep your child’s life happy and secured depends upon the level of education. However, these days the rising cost of education for students in India and in other places abroad is rising colossally. Due to this, parents find it very difficult to finance their children’s education. This has created a huge demand for loans, in order to cover high educational expenses. Study loans were initially given to merit holders and students who performed extremely well academically, so as to not let anything hinder their progress and they achieve the best of education in India and abroad. However, at present, almost every bank and NBFC offers online education loans in India to students interested in pursuing a wide range of graduate, post graduate, professional and other degrees.
Expenses covered by Study loan
This type of loan covers allied expenses such as those for uniforms, lab equipment/tools required for the course, travelling expenses and laptop. In addition to this, it also covers direct expenses such as tuition fees and registration/examination fees.
Apart from these, most online education loans also include:
- The expense required for the purchase of books, uniforms, equipment and instruments.
- Amount required for the purchase of computers or laptops, if necessary for the completion of the course.
- Fees to be given for Exams, Library, Laboratories, Hostel, etc.
- Amount required for Refundable deposit, Caution deposit and Building fund./li>
- Costs incurred for travelling, especially for studies abroad.
- All other additional costs that are required to successfully complete the course.
What FinZcart offers
FinZcart lets you compare the education loans offered online by various banks, so as to enable you to choose the one that is best suited for you. Along with this, it also offers you an EMI calculator so that you can calculate the rate of interest that you’d have to pay every month against the education loan that you take. This makes it very convenient for you to allocate your resources, in order to fit in your budget accordingly.