How to cope with up with the stress of education loan repayment?

Lack of funds more often acts as a hurdle for most of the students. Due to this hurdle many students remain distant from exploring new opportunities and averse from receiving what they deserve. Parents work hard and earn to fulfill all the responsibilities of their child but due to insufficient income and limited savings they find it difficult to cope with the increasing education expenses and fees. Due to all these circumstances students either give up or settle down for an option which they can avail without much expenses to keep their parents aloof from such burdens. But now, students who really want to brighten their future by gaining knowledge and exploring new paths to success can do so by availing education loans.

Education loan India is designed for helping students for their higher education by providing financial assistance to them. Today a student even from a well to do family avails education loan as it acts a medium of being self-reliant! It has not just remained a mere financial support to students. In fact, they are now a way of students for becoming independent and funding their education on their own rather than being dependent on parents or any friends or relatives for the funds.

This is because now there are many banks, financial institutes and private finance companies which provide education loans to students in a customized manner. These companies enable faster loan processing and 100 percent coverage of the loan amount and tailor made loan options with no margin money.

Students and parents avail study loans but usually have a fear of the failure of high interest rate for education loan. But these companies have a comparatively lower interest rate for education loan which is around 12.75% of the principal amount so a student does not have to worry about the interest and repayment.

However, to be on a safer side while selecting the right study loan a student can compare the interest rate for education loan provided by different companies and banks through online websites and also make use of the interest rate calculator made available for them. An emi calculator helps a student to make the complex calculations easy. It has a very easy to understand interface and provides calculations within seconds. So to calculate one can just put in three important values in it, which is the principal amount which a student wishes to avail, the loan tenure and the interest rate for education loan that is applicable. By putting in these three values a student gets a clear picture of the expenses and he / she can accordingly plan and prepare for the same.

Apart from this, these companies also provide multiple repayment options like payment of the interest during the course, partial Interest servicing during the course, EMI Repayment during the course, EMI repayment post, Step Up repayment facility and also a good moratorium period. A moratorium period refers to a grace period which enables a student repay 6 Months after the course is complete or 3 months after getting the Job so a student can easily focus on the completion of the project without stressing about the repayment.

So, now do not compromise on your dreams and get ready to receive the best that you deserve without worrying about the financial burden and open doors for success and knowledge!

Source: https://onmogul.com/stories/how-to-cope-with-up-with-the-stress-of-education-loan-repayment

Interest Rate For Education Loan to evaluate your monthly EMI by providing loan amount, rate of interest and loan tenure.