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abhishek pal
Further studies after 12th are very expensive. If you get admission in top government colleges then your career is set. To get admission in top private colleges, you should have deep pockets.
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Some children also want to study outside India. For this also you need money. In such a situation, some students and parents cannot afford such expensive fees, hence they take education loan.
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Be it education loan or personal loan or any other loan, it is important for people to know about all the rules and requirements before applying for the loan. Here are 5 important things related to education loan.
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First of all, your credit score is like a report card which is checked to see whether you are able to repay the EMIs or not. For children's education loan, the credit score of the parents should be good.
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Now let's talk about interest rates. You can choose between fixed and floating rates. Therefore, find an interest rate that makes it easy for you to pay the EMI.
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The method of giving loan of every bank is different. Some banks send it directly to your college, while others give it to you. Before taking a loan, know these rules of the bank thoroughly.
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The method of giving loan of every bank is different. Some banks send it directly to your college, while others give it to you. Before taking a loan, know these rules of the bank thoroughly.
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Another important thing to understand is the margin requirement. This is a percentage of the total cost incurred by you. Different banks have different rules for this, so know these rules beforehand.
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Another important thing to understand is the margin requirement. This is a percentage of the total cost incurred by you. Different banks have different rules for this, so know these rules beforehand.
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