Yuva Patrkaar, New Delhi : Nowadays, in this era of inflation, it is not an easy task to provide higher education to the children. Due to the economic crisis, many parents are unable to fulfill their children's dream of getting higher education and due to lack of money, their dreams remain incomplete along with their children's education.

Some children want to go abroad for education. But it is not easy for the family to bear the cost of higher education.

Presently, admission is being taken in all kinds of professional courses in engineering college also. Which are very expensive. But now not only rich children, but children of parents who are facing financial crisis can also take admission in such big colleges.

Yes, we are talking about those promising students who want to take admission in the big universities of the country. Or want to study abroad. Now getting higher education is not a big deal for those students. You can continue your further studies by taking an education loan. And you can make your dreams come true.

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What is education loan?

Whenever a loan is taken from any bank or private institution to get higher education. So that is called education loan. This loan is given so that there is no financial crisis in the studies of the students. For this the bank provides full assistance. To complete your studies, education loan can be obtained from any bank or private institution. The bank provides loans very easily with certain terms and conditions.

How many types of student loans are there?

There are four types of student loans given in our country-

Career Education Loan

When a student wants to make a career after studying in a government institution. So that career education loan is provided by the bank or by the private institution.

Professional Graduate Student Loan

After completing graduation, if the student wants to continue further studies. So for this he can take a professional graduate loan.

Parents Loan

When a parent applies for a loan from a bank institution for the education of his child. So it is called parents loan.

Undergraduate loan

After completing the school, the undergraduate loan is taken to complete the further graduation studies. In which children can study by taking admission in a good college of their country or abroad.

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Benefits of taking student loan

Students can easily fulfill their dreams by taking student loans. The interest rate on this loan is also less as compared to other loans. Sufficient time is also available to return the loan amount.

Documents required for taking student loan

1. mark sheet
2. bank passbook
3. ID proof
4. edge proof
5. address proof
6. course details
7. passport size photo
8. PAN card and Aadhaar card of the parent and student
9. Guardian's income certificate
10. Banks providing education loan

If you want to take education loan at affordable rates. So in this the public sector banks are on top – like Punjab National Bank, Canara Bank, IDBI Bank which provide education loan at the rate of 6.9%. Which is offered for an education loan of Rs 20 lakh with a tenure of 7 years.

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