Education Loan 

TYPES OF EDUCATIONAL LOANS

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Types of Educational Loans: Too many questions and too many answers. Simplest way is to deal is one question at a time. Decide which course you want to enroll for then apply to the institutes, where you might need some funding. Here is where you can invest in a loan to further your career.

Educational loans can be termed as a type of a monetary assistance such as funding, rewards, financing and scholarships, which when borrowed in cash, have to be returned with some added interest. It is always advisable to borrow according to the need. www.deal4loans.com provides information on loans to the students and also to the parents.

Apply for Education Loan

Full Name

Country of Study

Course of Study

Co-borrower’s* Income

Email ID

Residence City

Course Name

Required Loan Amount

Mobile Number

Applicant’s Income Status

* Co-borrower : Relative with good income who can support your education loan application. Typically it can be your Father, Mother, Brother, Sister, Spouse, Cousin, Paternal Uncle (Chacha), Paternal Aunt (Chachi), Maternal Uncle (Mama), Maternal Aunt (Mami), Grandfather, Grandmother

The repayment periods for such loans mostly depend from lender to lender as well as on the overall amount that the student goes for. Majority of the student loans have low rate of interests (although rates are dynamic and change periodically) and the students don’t have to make a payment for the interest till a specific time period, although there are certain exemptions to this rule too.

Various types of Student Loans in the market are:

  • § Undergraduate student loans
  • Graduate/ professional students – Graduate/ professional student loans are suitable for students going for higher or advanced degrees at countrywide colleges.
  • Career education loans – Career education loans are for students attending the undergraduate career oriented programs at countrywide colleges and technical and trading schools.

Uses/Eligibility/Repayments:

  • Unsecured loan are used for education-related expenses (like Tuition, previous school fee, living expenses, books and other expenses like transportation costs).
  • In case you are not currently earning while studying then you may need a suitable cosigner, like a parent, friend or any relative or eligible adult.
  • Some loans offer the option of repayment post graduation and other flexible repayment terms.
  • § College parents loans – These are also unsecured loans to cover education related expenses like Tuition, previous school fee, living expenses, books and other expenses like transportation costs. Parents can be a co-signer for loan if the student is working as well as studying. Moreover no collateral is needed.
  • Loans for Parents – These are unsecured loans to meet education related expenses like child’s tuition fee, uniforms, previous school fee, living expenses, books and other expenses namely transportation costs. This loan is for parents and other adult relatives for their children who are attending non-public, private, religious, military elementary and secondary schools countrywide.

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