Education Loan

Education loan - Important points to consider and evaluate

1. Education loan to be opted for higher studies which would benefit career progress in future

2. Interest rate - Interest rate may vary based on on collaterals and / or guarantee

3. Avoid having exposure to parents retirement fund

4. Take ownership of repayment

5. Consider part time job to reduce press of repayment in future

6. EMI stars after completion of education

7. Moratorium period can be opted in few cases, generally upto 6 months

8. Repayment terms can be renegotiated dependent on the income after person get the job.

9. Many student mistakenly believe that education loan repayment are not tracked credit bureaus, it may impact your credit history.