Top 3 Ways to Finance Your Higher Education Courses
According to recent studies, the cost of higher education is increasing at a CAGR of 15% per year. It is also a reason behind the steady growth of education loans in India.
Individuals can opt for the following ways to finance their higher education courses –
- Personal loan for higher education -
A personal loan for higher education is one of the ideal ways to avail financing. Higher education loan are unsecured; hence, borrowers don’t have to mortgage or hypothecate an asset to avail the funds.
NBFCs provide loans up to Rs.25 lakh with repayment tenor up to 60 months. These companies also approve such loans within 5 minutes and may disburse the same in under 24 hours.
- Scholarships -
One of the most efficient ways to fund your higher education is to try and get a scholarship. Most educational institutions offer scholarships to meritorious students to help them fulfil their aspirations. Such scholarships are not only applicable to institutions within the country but also overseas.
- Part-time employment -
An individual who is facing a shortage of income can apply for part-time jobs while pursuing education. Most students abroad apply for part-time employment to finance their higher education and fulfil other requirements.
A part-time job not only helps an individual to finance his/her education but also to acquire job experiences, which can be beneficial in the future.
- Student grants -
An individual can also apply for a student grant. Such policies possess almost similar features like a scholarship. However, students are only granted according to their requirements. By meeting a few criteria, an aspirant can avail student’s grant and cover the necessary expenses.
Apart from a higher studies loan, these are some of the ways students can finance their education and fulfil their aspirations.
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Must Read: Finance a Higher Education Course?
