In today world we can find numerous types of loans and mortgages for the different types of purposes like payday loan, house loan, automobile loan etc. In these loans a new types of loan is popular between students, called Education Loan.
Education Loan well known as the Student Loan is one type of loan which is useful for pay the higher education expenses like Course fees, tuition fees, books and materials, and living expenses.
Basic points of the Education Loan
Below are the Salient features of the Education loan –
Education loan is different from the other forms of loans.
* Interest Rate
Interest rate in education loan is low compare to other loans.
* Payment term
Education loan is payable after the completion of the course or study..
* Higher Study loan
Education loan is applicable only for higher studies from the recognized universities or institutes.
* Education purpose
Education loan is only meant for the students and study purposes.