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How to calculate your education loan EMI’s?

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So, what is EMI? It’s an equated monthly installment which is a blend of principal and interest amount. When the education loan amount is borrowed, it is actually repaid in the form of monthly EMI’s. All education loan dues are spread over a particular period to make the repayment process easier. The period, mentioned here is known as tenure (in months) in the financial loan marketplace, and can also be selected according to the repayment capacity. In today’s time, EMI is the most common option when it comes to repayment of education loan, but before you opt for it, it is vital for you to speculate and determine the amount you will pay on a monthly basis. Here comes the role of education loan EMI calculator- it helps one in planning before actually borrowing education loan. The calculator helps you to select the right loan amount for a right tenure, or you can say that the online calculator has made life somehow easier. This article is designed to give you a brief info on how an Edu
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The Criteria for Education Loan Eligibility

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When it comes to the 21 st century, high quality education is given the utmost importance. Unfortunately, the cost of education is increasing year by year, making it difficult for even the students with potential to get the education they deserve. Parents who want to fulfil their child’s dreams of higher education tend to rely on mutual funds, fixed deposits, etc. However, even after doing all this, there is a chance that the parents still cannot afford to fund their child’s education. That is where an Education Loan comes into the picture. An education loan plays a very important role in bridging the gap between the shortage of funds and the amount required. An education loan is given to students who want to study in either a university in India or abroad. However, as in the case of other loan types, there is certain criterion that the student has to fulfil in order to be eligible for an education loan. Since education loans are given to students who have the potential but la
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Everything You Need to Consider Before You Take an Overseas Education Loan

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The cost of education is increasing exponentially day by day especially in the international market which is why most students are opting for an overseas education loan to finance their higher education. Unfortunately, an Overseas Education Loan is the only way most students can carry out their dream of studying in universities outside their home countries. Students who study in a top educational institution usually get pretty high salary jobs post the completion of their course and are in a position to repay the loan. However, it is important to remember that an overseas education loan has the ability to put you in debt if not repaid on time. That is why we have outlined everything you need to consider before you take an overseas education loan. 1)       An overseas education loan comes in two forms- An Education Loan comes in two forms: federal loans which are directly funded by the government of your home country and private loans from individual lenders like banks or non-b
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Why People Are Depending on Study Loans in India

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In the last few years, so much has changed like the economy, fashion, climate, and even education. Higher education is a dream for many people. However, due to financial setbacks, it can’t always be achieved by even the brightest students. Higher education has become increasingly expensive even in India. Study loans in India help bridge the gap between the amount the family lacks for the education and the amount required. Study Loan in India help pay for the basic expenses such as the tuition, accommodation costs, and other costs that the family might not otherwise be able to afford. For those who might want to go abroad or even pursue higher education in India, such as MBA, MBBS, etc., study loans are a godsend. Here are a few reasons why people are depending on study loans in India: 1)       Study loans in India help you pay for higher education- The most obvious reason is, of course, that study loans in India help you pay for higher education. It is a known fact that, Ind
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Opt for Study Abroad Loan to fulfil dream studies overseas

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Pursuing higher education is getting more and more popular amongst the youngsters in India. The number of Indian students opting for study overseas has increased exponentially and many pupils are flying to their dream destination to pursue graduate and post-graduate studies.   One of the main reasons is that foreign degree puts more weight for job opportunities back in motherland compared to a bachelor’s or master’s degree from any Indian university or institutes. However, the financing part still remains a major issue for parents and students. Even riches find it difficult to fund the complete studies due to zooming education fees and living costs in a foreign nation. An ideal solution for this would be Study Abroad Loan . Today, many reputed banks and private finance companies provide study abroad loan to meritorious candidates especially from the middle and upper middle class to fund their higher education. Their aspirations are high; however, it all goes in vain if t
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What to expect from the best education loan.

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To cover their monetary shortcomings, many students opt for student loans and focus their energies on finding the best education loan out there. However, with the number of lenders and loan offerings available today, finding that perfect student loan is no cake walk. It will take days, if not weeks, of research and comparison. We know that you would rather use this time to prepare for entrance exams or take care of some other education-related formalities. That’s why we’ve provided a checklist of features you can expect from only the best loan offerings – this should streamline and simplify your selection process. 1. Loan amounts without terms and conditions. The Best Education Loan will give you the money you need, no strings attached. You should be able to tap 100% financing with ease and cover all your education-related expenses without any hassles. Everything from course fees to the purchase of a laptop should be handled by the education loan. Not to mentioned periphera
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All You Need to Know About Education Loan Interest Calculator

If a search engine report to be believed, people search for education loan or related phrases every month. Today, education has become expensive and especially if one is aiming for a premium institution for higher studies, education loan can be a big help. Well, taking an education loan at some point is easy, but paying back requires careful planning. That’s why some lenders have designed and inbuilt an  Education Loan Calculator  so that you can check the monthly EMI’s you would be paying accordingly. So, how does this calculator work?  A calculator is a handy tool that calculates the monthly interest rate charged by the lender according to the following mathematical formula; it has different variables present in it- EMI = [P x R x (1+R)^N]/[(1+R)^N-1]; where P, R, and N are the variables, which simply means the EMI will change every time you change any of the variables in the formula. Let’s discuss the variables in detail. Here P denotes the principal amount, i.e. the loan
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