Education Loans

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

High defaults of about 8 per cent in the education loan portfolio have made banks cautious and go slow on the sanction of such credit. Non-performing assets (NPAs) in the education loan category including public sector banks' (PSBs) were 7.82 per cent at the end of June quarter of the current financial year. Outstanding education loans were about Rs 80,000 crore at June-end. Cautious approach is adopted at the end of branches while sanctioning education loans due to high NPAs, a senior public sector bank official said. As a result some genuine cases are overlooked and there are delays, the official said. Recently, the finance ministry had called a meeting of PSBs to take stock of the education loan portfolio and cut down on delay. The ministry exhorted banks to spread awareness about the Central Sector Interest Subsidy Scheme among field formations. The sharp increase in non-performing assets (NPA) in education loans extended by commercial banks in India in recent years is a matte

Of the Rs 35 trillion of retaill loans deployed by banks, just Rs 84,375 crore or 2.4 per cent went towards education loans

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

A credit score is among the first things a financial institution would check in order to sanction a loan

There are several other factors to consider apart from the interest rate, such as moratorium, collateral and quantum of assistance

The funding will fuel the company's mission to make North American education accessible to students from around the world

The hitch is that they are in foreign currency and carry an exchange risk in case you want to work in India

NBFC or FinTech? Things to keep in mind while opting for education loan

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

It depend on how much will you be able to accumulate

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

Defaulting on education loan can prove catastrophic

When taking a loan, it is important to look at various factors, and not just the interest rate

Here's how the education fees and terms of top banks

Public sector banks are major players in this market. There are also specialised companies like Credila and Avanse