Investonleads

Education Loan

An education loan is a sum of money borrowed to finance college or other school-related expenses. Payments are often deferred while students are in school and for a six-month grace period after graduation.

Get An Expert Advice On

Education Loan


Education Loan

How an Education Loan Works


It covers the basic course fee and other related expenses such as (college) accommodation, exam and other miscellaneous charges.

What does an education loan cover?

[If you're ready to buy a home, use our Mortgage Calculator to see what your monthly principal and interest payment will be. You can also learn how to calculate your monthly payment in Excel.]

Who can apply for the loan?

A student is the main borrower. A parent, spouse or sibling can be the co-applicant.

Whom is the loan offered to?

It is offered to students who want to study in India or pursue higher education overseas. The maximum amount offered for studies in India and overseas are different and varies from one bank to another.

Types of courses covered under the loan

It can be taken for a full-time, part-time or vocational course and graduation or post graduation in the fields of engineering, management, medical, hotel management, architecture, etc.