The expense of education in India has significantly risen over the years, and often it becomes challenging for parents to accumulate funds for their children’s study. In such a scenario, they are left with some limited options like opting for an education loan, which, nevertheless comes with lengthy paperwork requirements and other admission criteria. Personal loans for education can thus be an excellent alternative to finance higher education for several reasons. Personal loans for higher education - A suitable funding option Personal loans can be a suitable alternative to traditional education loans for several reasons. A personal loan is much easier to avail as it comes with minimum eligibility and document requirements. Also, it proposes a high amount with competitive interest rates and flexible tenor. Also, these advances can fulfil diverse funding requirements during the curse duration along with helping to finance your higher education, including travel and hostel charges. A traditional education loan, contrarily, is available only for academic funding. Things to consider before availing a personal loan for higher education
Along with that, you can also utilise the personal loan calculator to gain a clear idea about the EMIs and the total cost of the loan. Thus, personal loans can prove to be a great option to finance your higher education and ensure a bright academic career ahead. Additional Read: Simple Ways To Avail Education Loan For Children
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AuthorAman 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. |