Higher education is becoming a compulsory factor for all, due to the excessive competition of today’s world. Higher education will help to enjoy better career prospects, evolve, broaden perspectives and enrich the thought process. So, investing in higher education is worth. But, you need to have substantial finance, if your child is interested in studying overseas or choose any professional courses like Journalism and Mass Communication, BBA, MBA, etc.
If financing higher education is out of your budget, then you can always look for a Higher Education Loan and avail its benefits, such as:
Higher Loan Principal
The cost of higher studies will increase depending on the course you choose and the place like in India or abroad. Courses such as MBA, engineering, and medicine in India will cost around Rs.10 lakhs. But, the same courses outside India will cost around Rs.30 lakhs. This includes tuition fees, accommodation expenses, examination fee, travel expenses, etc. It won’t be a good idea to break your savings to fund the studies. It will be better to apply for a higher education loan and get financing up to Rs. 25 lakhs.
Quick Disbursal of loan
These higher education courses’ fees are high, and they need to be paid within a specified time period, both for the course and for accommodation. Seats are limited, so to book those seats you need to pay the fees on time. A higher education loan always comes with the guarantee of quick loan disbursal, so that you do not miss the fee payment deadline.
To know about the other benefits, read:
5 ways a Higher Education Loan can Help you Fulfil your Dreams
Aman Khanna is an experienced financial advisor who is well known for his ability to foretell the market trends as well as for his financial astuteness. He has an MBA in finance from Toronto University as well as years of experience delivering seminars on sound financial practices and debt management.