How tax deductions make education loans attractive
- Section 80E of Income Tax Act allows you to claim tax deduction on interest for up to 8 years.
Higher education is a costly affair, especially if your child decides to pursue a professional course or opts to study abroad. It is also one of the key financial goals of most parents, many of who start investing for this soon after the births of their children. Such investments, made either in real estate, stocks, mutual funds or fixed deposits, are usually liquidated at the time of college admissions.