Here are the 7 terms and conditions for education loans for students

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Education loan interest rate can be fixed or variable. Fixed interest rate do not change. However, the variable interest rate is based on the market conditions

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The repayment of education loans can begin after graduation

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If you fail to make payments on an education loan, it is considered defaulting on the loan payments

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The moratorium period is a grace period during which you do not have to pay any interest or principal amount on your loan

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A penalty for early repayment is a charge that you have to pay if you repay your loan before the end of the repayment period

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A sanction letter or loan confirmation letter is a document that states the details of your loan approval

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Click here to learn more about the tips to manage finance while studying abroad

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