Education Loans: Are They Worth It?

The Study Abroad Dream

Millions of Indian students wish to attend the best universities abroad, in the US, UK, continental Europe and Australia. Great courses… but also, very expensive.

Education Loans

Loans have made it easier to access a foreign education - but just because a loan is easily available and the institute has tied up with a financer doesn’t mean it’s the right choice. 

A Loan Is A Big Deal

An education loan is one of the first big financial decisions you’ll make, and one that will take 5-6 years of your working life to pay off. So you need to see if it’s worth it. 

Foreign Degrees -  Not That Novel 

Precisely because loans are so easily available now, and many more Indians are heading abroad to study, a foreign degree isn’t as valuable to employers as before. 

Is It The Right Course?

You need to find out if the course is right for you. Is it the best in the stream? Are the facilities good? What employment opportunities lie ahead?

Interest & Repayment

Compare the rate of interest offered by different banks and the time of repayment allowed - because you are chained to that EMI for several years once you’re done studying.

Don’t Be In A Hurry

Don’t rush. Understand whether your parents have set aside money, whether your job prospects after graduation are lucrative - and then, after careful consideration, take a loan.

Mutual Fund investments are subject to market risks, read all scheme related documents carefully.