Education Loans News
Why you should save tax on education loans
Mint Money Shots discusses how education loans offer tax benefits like full interest deduction and lower TCS rates on foreign remittances, easing financial burdens. These provisions enhance access to quality education both in India and abroad.
3 min read23 Apr 2025Why parents should not ignore building a financial plan for child's education
Whether it’s finding quality schooling, specialized courses, or global higher education, a solid financial strategy ensures your child is prepared for a future where adaptability and innovation matter.
3 min read27 Mar 2025Loan, SIP, or assets? The best way to fund higher education
The cost of education is rising—is your financial plan keeping up? Here's how to smartly plan top-tier education without compromising financial security.
4 min read12 Mar 2025Wave goodbye to education loan: 6 hacks for paying them off fast
Education loans offer students financial support for higher studies, but timely repayments can improve credit scores. Scholarships can reduce loan amounts, and shorter repayment tenures save on interest. Tax benefits under Section 80E further aid in managing education loan repayments effectively.
4 min read27 Feb 2025Education loans for overseas studies: How to apply, documents required, and loan options
Students applying for overseas education loans must provide six months of bank statements from co-applicants if collateral is involved. Interest rates range from 8.64% to 14.25%, with a typical repayment tenure of 12 to 14 years and a moratorium period after course completion.
5 min read6 Feb 2025SBI's move to up collateral-free study loans could push other lenders
Typically, education loans of up to ₹7.5 lakh require no collateral but parents must jointly borrow it with the applicant; for loans above ₹7.5 lakh, not only do parents need to be co-borrowers, banks also require “tangible collateral security of suitable value”.
5 min read6 Jan 2025Dreaming of studying abroad? 7 vital steps to secure the perfect education loan
Education loans are vital for Indian students pursuing studies abroad, driven by high aspirations and career goals. Proper financial planning, thorough research of loan options, and timely application are essential for a smooth education financing journey.
4 min read3 Sep 2024Budget 2024: Loan up to ₹10 lakh announced for higher education in domestic institutions
In Budget 2024, Nirmala Sitharaman announced to give e-vouchers for loans up to Rs. 10 lakh for higher education in domestic institutions to be given directly to one lakh students each year for annual interest subvention of 3 per cent of loan amount.
1 min read23 Jul 2024LeapFrog leads ₹279-crore funding round in education finance firm Auxilo
The South African-Australian investment firm infused $30 million into the company, with an additional $3-4 million coming in from existing investors Trifecta Leaders Fund-I and Xponentia Opportunities Fund-II. The capital infusion will help Auxilo expand its student lending portfolio.
2 min read15 Jul 2024Financing your path to success: All you need to know about education loans
Education loans bridge the gap between available funds and required amounts, covering essential fees and expenses for various courses. Banks offer up to 100% financing based on factors like course type and loan amount.
5 min read23 Apr 2024Popular Topics
Budget
The Union Budget contains details about the estimated receipts and the expenditure of the government for a particular fiscal year. The Budget is allotted for the upcoming fiscal year, which runs from 1st April to 31st March of the next year. Here is a quick guide on how the Union Budget is prepared