An education loan is a financial product that helps students finance their higher education, covering tuition fees, living expenses, and other related costs. Offered by banks and financial institutions, education loans are available for courses in India and abroad. The loan requires a co-applicant, usually a parent or guardian, and is repaid in easy installments after the course completion.
The interest rates and loan amounts depend on the course, institution, and the financial profile of the borrower and co-applicant. Education loans make quality education more accessible by providing financial support to students.
In India, the requirements for an education loan include:
