A lot of planning goes before one goes abroad for studies. Academic year usually begins in the month of September (Fall 2020 and so on) for many universities abroad. But this time, because of the outbreak of COVID-19, admissions processes have been thrown off-gear.
Muthukumar KMuthukumar K has been writing extensively on personal finance for the last two decades. He is often seen in a blissful state sparked off by Heartfulness Meditation.
A moratorium is a temporary repayment holiday, whereby borrowers will have the option to either pay or not pay EMIs on their loans. It is applicable for all loan obligations for the three-month period (March 1-May 31, 2020) and for most categories of retail loans –home, car, personal, education, loan against securities and gold loans - including monthly credit card dues.