Education Loan: Overview

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Education Loan: Interest Rates

• Government to consider installment-free education loan proposal
  
Government to consider installment-free education loan proposal, banks to lend without collaterals ......
• RBI to reduce risk weightage on education loan
  
RBI to reduce risk weightage on education loans, cheaper study loans ......
• Canara, Allahabad bank reduce home loan, education loan interest rates
  
Canara, Allahabad bank reduce home loan, education loan interest rates,uco bank ......
• Central bank to keep home loan, education loan interest rates unchanged
  
Central bank to keep home loan, education loan interest rates unchanged ......

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Education Loan: Eligibility Criteria

• Now you can get your own credit report from CIBIL
  
CIBIL introduces its manual system to provide consumers with their own credit history on a test basis. ......
• Government needs to put money where the mouth is!
  
In the current budget announced on July 6, 2009 the FM promised to subsidize the entire interest expenses incurred during the course period of students from the EWS. Is this just a paper tiger? ......
• TeamLease, Manipal Universal Learning launches 2-month training program in retail sales
  
TeamLease Services, the HR solutions company has launched a two-month training program in partnership with Manipal Universal Learning. The program is aimed at the retail sector. The residential progra ......
• International B-Schools eye Indian mid-career students
  
Leading international B-Schools like Duke CE, Harvard, Garvin School, ESCP-EAP European School of Management, University of Texas at Austin-McCombs and Thunderbird School of Global Management look for ......

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Education Loan: Process

• Disbursement and repayment
  
The fees for all years will be disbursed to the college/institute directly by the bank and repayment starts from six months to a year ......
• Some ways of funding education without a loan
  
There are other options like grants, scholarships and aids to pursue education besides taking a loan ......
• Educational loans versus loans against securities
  
Educational Loans can also be taken as loans against securities ......
• Special education loan packages from banks
  
Special packages for study loan from institutes like IIM, IIT from SBI ......

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Education Loan: Documents Required

• Do I have to provide guarantors or collateral?
  
For loans below Rs. 4 lakh, banks may not require collateral but above that, collateral and guarantor both ......
• Documents you need to submit
  
There are a list of documents to submit for loan approval llike admission proof, income proof and course related documents ......
• Education loan has several steps, one can also apply online
  
Education loan has several steps such as application, discussion and supporting documents; before the loan is sanctioned or disbursed. One can also apply for loans online. ......

Education Loan: Tax Implications

• Disbursement and repayment
  
The fees for all years will be disbursed to the college/institute directly by the bank and repayment starts from six months to a year ......
• Disadvantages of personal loans for educational purposes
  
personal loans are at 11% to 16% and education loan interest rates are at 10.25% to 13% ......
• Education loans and tax benefits
  
courses under section 80 (E) are eligible for tax deduction benefit ......

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Decision-making Corner

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