Welcome to Nokia Mobiles!
More topics to browse through :-
There are two basic categories of loans available: government loans and private loans. In general, the government loans for students (also called Stafford Loans) should be your first stop. Parents should consider government loans for parents (also called PLUS Loans). Occasionally, private loans can be competitive with the government programs. Ask your financial aid administrator if your school is a "Direct Lending" school -- If so, you can get government loans directly without a third party lender.
Private or "alternative" loans require NO GOVERNMENT FORMS and can be a great solution if after receiving your government loans and grants, you still find a gap between your available funds and your costs.
Once you've finished going to school, consolidation loans can help lower your payment amount and combine multiple payments into one, easy to make payment.
There are many types of student loans to choose from, and it’s important to find one that is right for your particular situation. The two main types of loans are federal loans and private loans.
There are three main types of federal loans:
Federal Stafford Loans - These are awarded based on financial need and are regulated by the federal government. They can be obtained from a bank, credit union, or directly from the government. There are three kinds of Federal Stafford Loans to choose from:
Federal Plus Loans - These loans are available to parents whose children are attending college as full or half-time undergraduate students. They are awarded based on credit history and cost of attendance. The interest is low on this type of loan, but repayment usually begins within 60-90 days after full disbursement of the loan, or after the student graduates.
Federal Perkins Loans - Perkins loans are awarded to students based on extreme financial need, and usually have very low interest rates. The total funds available to be disbursed for these loans is limited, however, which means that the amount of the loan will likely be relatively low. The interest doesn't start to accrue until 9 months after a student drops below half-time enrollment or graduates. If you're not sure if you qualify for a Perkins Loan, ask a college financial aid advisor. One important thing to note about these loans: they are reported to a credit bureau, which means that if you are late on payments, or default on your loan, it could damage your credit.
Education loans from the State Bank of India
A term loan granted to Indian Nationals for pursuing higher education in India or abroad where admission has been secured.
Eligible Courses
- All courses having employment prospects are eligible.
- Graduation courses/ Post graduation courses/ Professional courses
- Other courses approved by UGC/Government/AICTE etc.
Expenses considered for loan
- Fees payable to college/school/hostel
- Examination/Library/Laboratory fees
- Purchase of Books/Equipment/Instruments/Uniforms
- Caution Deposit/Building Fund/Refundable Deposit
- Travel Expenses/Passage money for studies abroad
- Purchase of computers considered necessary for completion of course
- Cost of a Two-wheeler upto Rs. 50,000/-
- Any other expenses required to complete the course like study tours, project work etc.
Amount of Loan
- For studies in India, maximum Rs. 10 lacs
- Studies abroad, maximum Rs. 20 lacs
Interest Rate
For loans upto Rs.4 lacs - 11.50% p.a. Floating
Repayment Tenure
Repayment will commence one year after completion of course or 6 months after securing a job, whichever is earlier.
___________________________________________________________________________________________________________
Home loans from Allahabad Bank
Objective of the Education loan Scheme
The Education loan scheme aims at providing financial assistance on reasonable terms:
- To the poor and needy to undertake basic education.
- To the meritorious students to pursue higher/professional/technical education.
Quantum of Loan:
Need based finance subject to repaying capacity of the parents/ students with following ceilings:
- Studies in India: Maximum Rs 7.50 lacs
- Studies abroad: Maximum Rs.15.00 lacs
Eligibility
- Should be an Indian National
- Secured admission to professional/technical courses through Entrance Test/ Selection process.
- Secured admission to foreign university/Institutions
Expenses considered for loan:
- Fee payable to college/school/ hostel.
- Examination/Library/Laboratory fee.
- Purchase of books/ equipment’s/instruments/uniforms.
- Caution deposit/building fund/refundable deposit supported by Institution bills/ receipt.
- Travel expenses/ passage money for studies abroad.
- Purchase of computers-essential for completion of the course.
- Any other expenses required to complete the course- like study tours, project work, thesis etc.
Not satisfied with the page! Try the Google Search
