Domestic Education Loan For educational courses inside the country’s geographical boundaries.
A study abroad education loan, as the name implies, is a loan that may be used to pay for a course of study abroad. There are a variety of possibilities accessible under the study abroad education loans depending on the sort of course. Aside from this, student loans may be further classified into a few more different categories.
These types of education loans are intended to assist students in pursuing and completing an undergraduate degree program. The undergraduate curriculum might be three or four years long, and it will provide the student with several work prospects.
Students who intend to pursue advanced degrees or higher education at universities around the country can apply for these types of professional/graduate student loans. To apply for a graduate student loan, a student must first complete an undergraduate course.
Many banks and other financial organizations provide career education loans to assist people to pay for training and courses that will help them advance their careers or qualify for employment. This loan is available to applicants who want to enrol in career-oriented programs at Indian as well as abroad universities and technical and trade institutions.
Under ICR, you’ll pay either 20 percent of your discretionary income or the amount you would pay with a fixed payment over 12 years — whichever is less. Repayment takes place over 25 years, after which any remaining balance will be forgiven.