Self Finance vs Education Loan

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

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

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

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

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

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

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

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

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