Education Loans: Everything you need to know — Dilip Oak Academy
After applying successfully for the Fall 2023 intake of your dream American university, many of you might be busy planning to arrange the finances for the program, right? Applying for a student loan is one such popular option preferred by many students and their parents. However, it is necessary to have the right advice before making a choice. This article is aimed to give you a broad overview of the student loan process and will also answer many of your queries about the same. So, let’s get started! What is an education loan? An education loan is funds borrowed from a bank or a financial institution to cover the cost of tuition fees, allied expenses such as living and insurance costs. Who is eligible for an education loan? The eligibility for availing loan is determined by each bank/ institution independently, and several variations can be seen in them. However, the common requirements are as below: The applicant and co-applicant should be citizens of India over 18 years of age ...