Check the Options Available For Students to Finance Their Education
The cost of pursuing quality education is on the rise in India. If you wish your children to go for quality education in or outside India, you have to be financially sound.
But parents who have not saved enough, they can help their children finance their education using many options. And one of them is a personal loan for students. Let’s know more in this short post!
- Scholarships
If your child is meritorious, he/she can get a scholarship from the Government to fund further education. Even leading educational institutes offer scholarships to students to continue higher education. Popular scholarship programs include merit-based, sports and targeted scholarships, including fellowships. If your child is eligible, then he/she may make the most of it.
2. Personal loan for students
If you are well employed and have maintained a robust CIBIL score and repayment history, you can avail a personal loan for students. Leading lenders in India offer it to the tune of up to Rs. 25 lakh. You don’t need to submit any collateral to get instant approval and faster money disbursement. You can also repay the existing loan within 60 months. Compared to the traditional education loan, personal loan for students can be used for any purposes as per your needs. All that you have to do is — meet the eligibility criteria of lenders.
3. Education loan
Everyone knows about the education loan facility that banks and other lenders provide to students to pursue higher education. It may involve pledging collateral. But it comes with a demerit that its funds can only be used for educational needs. It is where the personal loan for students has an edge over the conventional education loan.
Based on your needs and eligibility, you can either apply for the personal loan for students or any other options.
Bajaj Finserv presents pre-approved offers on personal loans, home loans, and more. It can make the loan processing simpler, faster and hassle-free.
You can share your details like the name and mobile number to check your pre-approved loan offers today.
Must Read: Know How You Can Finance Your Education Loan For Students
