According to a report from the Bureau of Immigration, the US, UK, and Australia are the most preferred destinations for Indian students aspiring to study overseas. However, pursuing higher education abroad is expensive. While every aspirant wants admission to the best university, it’s hard to ignore financial liabilities. With education costs and living expenses running into substantial numbers, paying for higher education is challenging for most. This is why executive education courses are becoming popular among salaried professionals as they allow you to study without quitting your job. When facing issues in financing your education, you should apply for Education Loan online to get the best financial solution. Let us see how a Personal Loan for Education can help you pursue higher education.
Cover All Costs with a Single Loan
Unlike a traditional loan that only covers educational expenses, a Personal Loan for Education meets costs related to all aspects of your executive course. This includes the cost of study material, equipment, or any travel requirements if needed. Without any end-use restrictions, borrowers have the freedom to decide how and where to use the loan amount.
Attractive Interest Rates
Interest rates on loans for education vary according to the country and the college grading. However, a Personal Loan for Education does not have any such restrictions. If you fulfill the finance provider’s eligibility conditions and have an Experian credit score of 630 or above, qualifying for a Personal Loan with attractive interest rates becomes easier. Those with a decent monthly income, low financial obligations, and high credit scores get Personal Loans at the best interest rates.
Ample Loan Amount
Many reputed NBFCs provide ample loan amounts to eligible applicants applying for a Personal Loan for education online. The Personal Loan eligibility depends on the applicant’s age, income, employment, and credit rating. Those looking for funds can get substantial loan amounts according to their needs.
Flexible Repayment Tenure
The borrowers can repay the loan within a fixed period. They can select a loan term according to their repayment abilities. Applicants with a decent income may opt for a short loan term with bigger EMIs to reduce the interest outgo. However, those who cannot pay bigger EMIs monthly can select a longer repayment term. Although the EMI amount is smaller with a longer loan term, the borrower pays more interest costs by the loan term-end. So, evaluate your monthly budget and repayment capacity to select a suitable loan term with conveniently affordable EMIs.
When you need a Personal Loan for education, apply online, as it does not require bundles of documents. All an applicant needs are identity proof, employment proof, address proof, account statements, and salary slips. Just visit the lending institution’s website, fill in some basic details, and you can get a loan offer if you meet the eligibility criteria. In most cases, uploading the documents is not required too as all information can be verified online.
Instant Approval and Fast Disbursal
The absence of physical documentation and collateral allows quick verification and approval. Once the applicants accept the loan offer, they get the loan amount in their account within a short period. It’s time to pursue your higher education dream with a personal loan for education. Apply online with new-age NBFCs like Clix Capital which provide fast approval and disbursals at low-interest rates and flexible repayment options.
Higher education is a great asset for building a stable future. These days many universities are offering premium executive education courses for salaried professionals to excel in their careers. However, it comes at a substantial cost, and that is where taking a Personal Loan for education becomes relevant. This loan can be used to meet the expenses involved with education.