Pursuing a higher education degree will help you build a successful future. It is the most important thing in the world and in today’s competitive time, a mere degree is not enough to lead the race. Many aspirants wish to pursue higher studies in verticals like engineering, doctorate, Masters, Management, Aviation, Architecture, etc. from top-notch universities and institutes in India or abroad. However, the skyrocketing prices act a major barrier between their aspiration and turning it into a reality.
Education Loan in India
The costs of higher education are far too expensive, and many times students leave their dreams behind to opt for any random career. To ease down the financial burden on parents, most leading banks and private finance companies have come up with customized Education Loan in India solutions for these meritorious students. They are willing to fund the entire educational costs of such young aspirants.
Study Loan in India
Since these loans are offered to students they come at a low-interest rate of mere 11-15% with attractive schemes and customized loan solutions. Study loan in India will cover your tuition fees, exam fees, lab and library fees, accommodation charges, caution deposit, travel, books and equipment, projects, thesis work, and educational tours. Private lenders are willing to offer collateral-free loans up to Rs 50 lakhs with instant loan sanction in one day. With online facilities, you can compare quotes of leading private players, government banks and zero in a particular loan lender based on your eligibility and requirements.
Higher Studies in India
For higher studies in India, students can borrow loan amount up to 7 lakhs without any collateral security or marginal costs. They would require a third party guarantor.
For the overseas study, you would require a guarantor as well as collateral in the form of plot land, fixed deposits, insurance policy, NSC certificates or property that is worth the loan, etc. When you opt for loans, as a student you would have to submit documents like mark sheets of various exam, secure admission letter, expenses of the course you opt for, credit history of co-borrower and bank account statement of last six months. IT returns and a statement declaring the assessments and liability of the parents/co-guardians.
The Interest Rates
Just like any other loan, you will have to repay the fund along with the interest rates. However, the best part of student loan is, you don’t have to start making the repayment immediately. You can start to repay after six months to one year of the course completion. This period will give you the opportunity to search for a decent job, and build a good financial base before you head towards loan repayments.
With professional studies getting far too expensive, Education loans in India seem to be the most effective way to tide over the financial exigencies.
Educational Space
Private lenders understand the educational space and the complexities associated with the admission process and fund arrangements. Therefore, they do extensive research and utilize their expertize to focus on offering tailored financing solutions to every student. Their experts’ research on top universities/institutes to cater loan to students based on Nature of the course, Institute ratings, Co-Borrower credit details, GRE/GMAT scores, Collateral Security, Student academic history.
Traditional education
The generations’ predecessors to millennials are the fruit of what is known as “Traditional Education” (I have just stated where my age is tilting). Education that has made us know how the pages of a manual smell, the sound that causes the stroke of a pencil when writing our name, or knowing that a simple drop of ink can cause an indelible memory in a white dust jacket (In Argentina in the Public primary and secondary school children wore white overalls, representing an emblem in education. Today this tradition is only preserved in some schools.). Not to mention a penance for running at recess or having the audacity to have thrown a piece of chalk that had the bad luck of falling next to the teacher …
It is not a script extracted from the fiction of yesteryear … this happened and it was not so long ago. Time flies, like the paper planes that we made with a sheet torn from a notebook.
A Little Nostalgia
A little nostalgia is good to understand that the passage of time is inevitable, but so is the progress that accompanies it. No one can fail to admit the importance of the face-to-face accompaniment of a teacher in learning, or the socialization caused by sharing a desk or reading book. But neither can we deny that every positive side has its opposite and in this particular case we could define it as “limiting”. Limitations by distance, time, space, available space, economy, accessibility, structure, geographical, health and we could name as many as people who have traveled this path, or who have not been able to do so.
Innovation for Humanity
The passage of time combined with the attraction caused by innovation for humanity has given way to continuous revolutions that have forced us to evolve. For some it will have been for good and others will not agree so much, but nobody can deny that we are a species that seeks and provokes that evolution. Here we are then, in the face of a technological revolution that has forced some generations to unlearn to learn something completely different, while other generations would simply be paralyzed if they removed a device that already has characteristics of a human organ because of its essentiality. What a paradox, right? different generations living with such a small age difference, but with so much distance in the learning methodologies to which they had and have access.