Getting through a reputed management institution might just get you a cheaper education loan as banks look to encourage meritorious students.Public sector banks are offering education loans to students of top institutes in the country at rates up to 200 basis points, or two percentage points, below those charged on regular education loans.Central Bank of India, which has an education loan book of around...
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Invest regularly in mutual funds to repay an education loan gradually as your investments grow...
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brother, who is currently doing post graduation in commerce, wants an education loan of approximately Rs3 lakh. Is it possible for him to get one?A student can get an unsecured education loan up to Rs4 lakh without any collateral. A number of banks, including PSUs, can have the application form online. Your brother will have to submit his course details, proof of his having secured confirmed admission...
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DHFL, the country’s second-largest housing finance company in the private sector, today ventured into education finance with the launch of Avanse Education Loan.It has set up a non-banking finance company (NBFC) that will provide education loans for higher studies.The NBFC, a non-deposit company, will compete largely with PSU banks that now dominate the education loan market. It is estimated that the...
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College students would get more detailed information about college loan costs under a proposal from the Obama administration.NEW YORK (CNNMoney) -- The Obama administration announced a push to have colleges make better disclosures to students about the true cost of loans, as well as graduation and loan default rates at each school.Vice President Joseph Biden, Education Secretary Arne Duncan and Richard...
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Public sector banks propose to relax the terms of their education loan schemes following a drop in the growth of such loans last financial year.The banks now propose to offer education loans of upto Rs 4 lakh to more than one person in a family contrary to the earlier practice of extending loan to only one person in a family. Such loans do not require any collateral.Further, the banks propose to extend...
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Bank officials should be "punished with imprisonment" if they reject education loan, says a member of parliament belonging to the DMK."Bank officials should be punished with imprisonment if they reject education loan or charge higher rate of interest than what is prescribed. In many cases, rural students are denied even an application for education loan," R. Thamaraiselvan, the DMK MP from Dharmapuri,...
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one of the premier business schools in the country, he applied for an education loan. With the government defining education as priority sector, he had little difficulty in getting a loan. Later, Akshat got through one of the best MNCs in the country drawing Rs 14 lakh per annum. While one would expect him to repay his education loan with ease, Akshat conveniently forgot about it.He is not a solitary...
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number of students applying for educational loan to study abroad has declined. Lesser number of students opting for overseas education and high base effect are the major reasons for slow growth in education loan disbursement.The sources from IDBI revealed that the base effect has a major role to play. Education loans started becoming popular only from 2008. Now taking 2008 as base, which is essentially...
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move that will impact future management and engineering hopefuls, students who opt for these subjects under the management quota in India and abroad will no longer be given education loans.management quota from the education loan scheme in a bid to bring down increasing bad assets from education loans.“The admission under management quota should be kept outside the scope of the scheme,” said an IBA’s...
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