With ever-increasing competition and soaring inflation, taking an education loan has become a requirement for most students who aspire to study locally and abroad.
Earlier, most parents were accustomed to utilizing their savings to finance their child’s education by liquidating assets like Gold, Fixed Deposits, land, etc. Nowadays parents have started accepting this paradigm shift of funding their children’s education by taking an education loan.
This is due to the fact that both students and parents are now aware of the numerous advantages that an education loan may provide. They know it is better to opt for an education loan over a personal loan for education.
You may know a few advantages yourself but this article will cover all the advantages of an education loan that a student can avail of for studying abroad.