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5 of the biggest cost education loans promise to cover for you.

5 of the biggest cost education loans promise to cover for you.

Inflation & other factors put a quality education further and further out of reach many of us every year. However, instead of giving up on your aspirations, you can turn to education loans to overcome the obstacle of cost. These finance solutions offer a bridge over your financial gaps by covering a number of education-related costs. We’ve highlighted some of the costs you can cover with a student loan to give you a better idea of how helpful they can be. Read on, maybe you’ll find an answer to your problems.

1. The fees.

It goes without saying that Education loans will cover the course fees. To what extent depends on the lender; most non-banking financial institutes will offer 100% financing. They won’t require you to provide any contribution from your end. This means that, whatever the course fee is, these lenders will provide the entire amount.

2. Travel & living expenses.

If you need to travel within the country or across borders, most lenders will provide funds to cover the cost. Further, they will also help you pay for accommodation while you’re away studying. This can be a huge burden lifted from your shoulders, especially in the initial months. After that, you can find a part-time job and cover this cost on your own.

3. Entrance exams.

As part of their pre-admission loans, many non-banking financial institutes will offer to pay for your entrance exams. It might not seem like much, but it allows you to concentrate fully and solely on your studies instead of worrying about paying the fees.

4. Proof of funds for the visa.

If you’re going abroad, you’ll need to procure a visa for most countries. However, though student visas are relatively easy to get for most countries, they can really cost a bomb to obtain. This is mostly because you might have to provide proof of funds on top of the actual application fees. Proof of funds generally runs a few lakhs for most of the top tier countries. Fortunately, most of the better education loans will provide any amount you need for proof of funds to get your visa approved. 

5. Cost of study material.

A majority of the courses today will have a fast study material. This could include expensive bookings for each subject and each semester, the cost of which can seem handle able until they start adding up. However, it is something you’ll never have to worry about with a student loan. This is because Education loans will cover the cost of study material, including the purchase of a laptop.

As you can see, education loans provide end-to-end finance solutions. They ensure that there’s not a single cost you need to worry about when completing your further education plans. So if you are falling short, don’t hesitate to apply for a student loan to cover your deficit and fulfill your dreams. You owe it to yourself, especially if it will help you get a high paying job and a bright future. Good luck and all the best!

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Joined: June 20th, 2019
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