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NRI Educational Loan

| Filed under Economy

Education system in India has come a long way. From modest beginnings the country’s educational institutions have emerged to attain the status of one of the best destinations for higher studies in the world. Today the country has an array of internationally reputed educational institutions where not only local students study but also students from NRI families benefit.

education loan 300x200 NRI Educational Loan

Most educational institutions in India admit NRI students through their quota systems but for a higher fee. However, the higher fee structure has not deterred NRI students from studying in India thanks to the NRI educational loans available now.

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Education Loans in India

| Filed under Economy

As the educational expenses are going higher, education loans have become a most well known method of funding higher education. Education loan is becoming popular because of the rise in the fee structure. This is due to the spreading of self financing institutions in the field of engineering, medical and management sides. These institutions have a very high fee structure, as they have less funding from the government. So funding higher education in India now becomes a tough task. With a certain limit this issue can be overcome by the help of education loans from various banks.

500 1188517643 diploma ca 300x225 Education Loans in India

Both public sector and private sector banks offer education loans. It came in to existence in 1995 by SBI bank and after that many banks started offering education loan. As this loan scheme is not a main loan stream, people have no thorough idea about the terms and conditions.

For no doubt that education cost a great deal today. In today’s job trend, higher degrees offer better job opportunities. Education loans can help students to pay for their educational needs, so as to get jobs that are well paying and offer a bright future.

Full time Graduate and post graduate courses, professional courses include Engineering, Medical, Architecture, Management, Law, Agriculture, Veterinary, Dental, Computer etc are some of the courses that are applicable for getting education loan. Bank typically has their own list of courses, which are eligible for loans. They sanction loan for only that allotted courses. If you are looking for education loan first visit the bank to check whether the course you are going for is covered under the bank and also check the interest rates and general eligibility criteria.

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