Self Finance vs Education Loan for Abroad Studies: Which is Better?

Self Finance vs Education Loan

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Self finance means that students are paying for their educational expenses on their own

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The payment is made either out of savings or by requesting funds from family members/relatives

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Self- financing is a great option for students who already have funds to study abroad. It helps the student to be free of interest rate and repayment concerns

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Education loans are provided by a third party to help students to fund their education.

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Education loans help students to arrange funds for education in a limited amount of time

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It covers the tuition fees, travel expenses, living expenses, books & laptop expenses of the student studying abroad

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Moreover, banks provides a solvency letter as proof of finances to the university

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Education loans helps a student to build a good CIBIL score. They have low interest rates, and flexible repayment rules.

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Hence, it is beneficial for students who needs to arrange a significant amount of money in a short period of time.

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Click here to learn more about the educational loans for students

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