Education Loan

New tax regime does not have tax deductions as is given under various provisions such as 80C or 80D of the Income Tax Act

In FY22, the country's financial system disbursed education loans for Rs 23,640 crore and for 12 PSBs in India, the target for FY23 has been fixed at Rs 20,450 crore

Information on default rates of specific courses and institutions should be made available to the public. Students could use it as one of their selection criteria

Company raised $22 million in funding in March earlier this year at a valuation of $120 million

Students joining a professional course at a top-notch college will find it easier to get approval

When deciding on a college and country, estimate the entire cost and not just the tuition fee and accommodation

Here is how the education loan rates offered by various banks stack up

Here is how the education loan rates offered by various banks stack up

Interest paid on even a loan against property is tax deductible if you can prove that the loan was utilised for your child's higher education

Credenc gives loans for schooling, online upskilling and higher education; it plans to scale up its finances

Here is how the education loan rates for studies in India offered by various banks stack up

Here is how the education loan rates offered by various banks stack up

Finding it difficult to get an education loan? What are better terms for taking education loan: Govt banks or NBFCs or FinTech? In this podcast, we answer these and more

Listen to the podcast to know more about financial planning for child's foreign education

Experts also mentioned that the data suggests that the poorer sections of society could be borrowing less due to their weak ability to service loans

She said banks have been sensitised to adopt a non-coercive strategy for recovery of education loans

It cuts both ways - you can build your credit score and get tax benefit, but defaulting will make life difficult

Funding it from one's savings can dent retirement savings, but the child will start her career without any debt

Private lenders are flexible with education loans

Besides interest rate and processing fee, check whether the lender will allow you to prepay the loan without a charge