{"id":9497,"date":"2024-01-13T10:16:23","date_gmt":"2024-01-13T04:46:23","guid":{"rendered":"https:\/\/fly.finance\/blog\/?p=9497"},"modified":"2024-01-15T10:17:07","modified_gmt":"2024-01-15T04:47:07","slug":"faqs-on-secured-education-loan","status":"publish","type":"post","link":"https:\/\/fly.finance\/blog\/education-loan\/faqs-on-secured-education-loan\/","title":{"rendered":"FAQs on Secured Education Loan"},"content":{"rendered":"\n<p><strong>FAQs on Secured Education Loan:<\/strong> The journey of pursuing higher education abroad is an exciting yet challenging step for many Indian students. Securing financial support for studies is an important aspect of this process, and secured education loans are a popular option. You get low-interest rates, flexible loan repayment period, fast processing etc in secured education loans. Let\u2019s check out some of the frequently asked questions based on secured education loans.<\/p>\n\n\n\n<div class=\"wp-block-yoast-seo-table-of-contents yoast-table-of-contents\"><h2 id=\"table-of-contents\">Table of contents<\/h2><ul><li><a href=\"#h-what-is-a-secured-education-loan\" data-level=\"2\">What is a secured education loan?<\/a><\/li><li><a href=\"#h-what-types-of-collateral-are-accepted-for-secured-education-loans\" data-level=\"2\">What types of collateral are accepted for secured education loans?<\/a><\/li><li><a href=\"#h-can-i-apply-for-a-secured-education-loan-if-i-don-t-own-any-property\" data-level=\"2\">Can I apply for a secured education loan if I don&#8217;t own any property?<\/a><\/li><li><a href=\"#h-what-is-the-maximum-loan-amount-i-can-apply-for\" data-level=\"2\">What is the maximum loan amount I can apply for?<\/a><\/li><li><a href=\"#h-what-is-the-repayment-period-for-secured-education-loans\" data-level=\"2\">What is the repayment period for secured education loans?<\/a><\/li><li><a href=\"#h-what-is-the-interest-rate-for-secured-education-loans\" data-level=\"2\">What is the interest rate for secured education loans?<\/a><\/li><li><a href=\"#h-is-a-co-applicant-necessary-for-a-secured-education-loan\" data-level=\"2\">Is a co-applicant necessary for a secured education loan?<\/a><\/li><li><a href=\"#h-can-i-prepay-the-loan-before-the-scheduled-tenure\" data-level=\"2\">Can I prepay the loan before the scheduled tenure?<\/a><\/li><li><a href=\"#h-how-is-the-loan-disbursed-in-a-secured-loan\" data-level=\"2\">How is the loan disbursed in a secured loan?<\/a><\/li><li><a href=\"#h-can-i-use-the-loan-to-cover-expenses-other-than-tuition-fees\" data-level=\"2\">Can I use the loan to cover expenses other than tuition fees?<\/a><\/li><li><a href=\"#h-what-happens-if-i-am-unable-to-repay-the-secured-education-loan-due-to-financial-difficulties\" data-level=\"2\">What happens if I am unable to repay the secured education loan due to financial difficulties?<\/a><\/li><li><a href=\"#h-is-the-interest-paid-on-the-secured-education-loan-eligible-for-tax-benefits\" data-level=\"2\">Is the interest paid on the secured education loan eligible for tax benefits?<\/a><\/li><li><a href=\"#h-what-happens-if-i-change-my-course-or-university-after-taking-the-secured-education-loan\" data-level=\"2\">What happens if I change my course or university after taking the secured education loan?<\/a><\/li><li><a href=\"#h-can-i-transfer-my-existing-education-loan-to-another-lender-for-better-terms\" data-level=\"2\">Can I transfer my existing education loan to another lender for better terms?<\/a><\/li><li><a href=\"#h-what-are-the-consequences-of-defaulting-on-a-secured-education-loan\" data-level=\"2\">What are the consequences of defaulting on a secured education loan?<\/a><\/li><\/ul><\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-what-is-a-secured-education-loan\"><span id=\"what-is-a-secured-education-loan\">What is a secured education loan?<\/span><\/h2>\n\n\n\n<p>A secured education loan is a type of loan where the borrower provides collateral as security to the lender as a guarantee for the loan. In case the borrower fails to repay the loan, the bank will have the legal obligation to recover the money by auctioning the asset mortgaged.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-what-types-of-collateral-are-accepted-for-secured-education-loans\"><span id=\"what-types-of-collateral-are-accepted-for-secured-education-loans\">What types of collateral are accepted for secured education loans?<\/span><\/h2>\n\n\n\n<p>Banks or lenders generally accept immovable properties like land or a house, fixed deposits, and sometimes, government securities as collateral for secured education loans. Some banks demand any collateral whose value should be 125% of the total loan amount while some banks or financial institutions demand collateral whose value should be 100% of the loan amount.<\/p>\n\n\n\n<p class=\"has-pale-ocean-gradient-background has-background\"><strong><em>Also Read: Planning to apply for a Prepaid Forex Card? Check out some of the common <\/em><\/strong><a href=\"https:\/\/fly.finance\/blog\/money-transfer\/faqs-on-forex-prepaid-cards-for-students\/\"><strong><em>FAQs on forest prepaid cards for international students<\/em><\/strong><\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-can-i-apply-for-a-secured-education-loan-if-i-don-t-own-any-property\"><span id=\"can-i-apply-for-a-secured-education-loan-if-i-dont-own-any-property\">Can I apply for a secured education loan if I don&#8217;t own any property?<\/span><\/h2>\n\n\n\n<p>Yes, some lenders may consider alternative collateral such as fixed deposits, life insurance policies, or a guarantor with a stable financial background. Land or flats are not the only options for collaterals. You can even keep your agricultural land as collateral for education loans subject to state laws.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-what-is-the-maximum-loan-amount-i-can-apply-for\"><span id=\"what-is-the-maximum-loan-amount-i-can-apply-for\">What is the maximum loan amount I can apply for?<\/span><\/h2>\n\n\n\n<p>The loan amount varies among lenders, but it is generally determined by the course&#8217;s cost, living expenses, and the collateral&#8217;s value, with a maximum limit specified by the bank. In India, you can get up to INR 1.5 crore under the schemes of public sector banks. <a href=\"https:\/\/fly.finance\/blog\/education-loan\/sbi-student-loan-scheme-vs-sbi-global-ed-vantage-scheme\/\"><strong>SBI Global Ed-vantage education loan to study abroad<\/strong><\/a> provides up to INR 1.5 crore secured loan.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-what-is-the-repayment-period-for-secured-education-loans\"><span id=\"what-is-the-repayment-period-for-secured-education-loans\">What is the repayment period for secured education loans?<\/span><\/h2>\n\n\n\n<p>Repayment periods can extend up to 15 years, including the moratorium or holiday period during the course duration. Some banks may provide 15 15-year loan repayment period excluding the moratorium. However, try to choose a shorter repayment tenure as it will help you save money that you will against the interest on your loan.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-what-is-the-interest-rate-for-secured-education-loans\"><span id=\"what-is-the-interest-rate-for-secured-education-loans\">What is the interest rate for secured education loans?<\/span><\/h2>\n\n\n\n<p>Interest rates vary among banks and financial institutions. It may be fixed or floating and is influenced by factors like the borrower&#8217;s creditworthiness and the collateral provided. Usually, the banks offer interest rates on education loans ranging from 8.5% to 16% or even more depending upon the requirement and the income of the student.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-is-a-co-applicant-necessary-for-a-secured-education-loan\"><span id=\"is-a-co-applicant-necessary-for-a-secured-education-loan\">Is a co-applicant necessary for a secured education loan?<\/span><\/h2>\n\n\n\n<p>Having a co-applicant, usually a parent or guardian, is advisable as it enhances the loan application&#8217;s credibility. Their financial stability and creditworthiness positively impact the loan approval process. Most of the public sector banks have made it mandatory to apply with a co-applicant who should be your parent or spouse. You can try to apply with some NBFCs that offer education loans without co-applicants.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-can-i-prepay-the-loan-before-the-scheduled-tenure\"><span id=\"can-i-prepay-the-loan-before-the-scheduled-tenure\">Can I prepay the loan before the scheduled tenure?<\/span><\/h2>\n\n\n\n<p>Yes, most lenders allow prepayment of secured education loans without any prepayment penalty. It can help reduce the overall interest burden on the borrower. <a href=\"https:\/\/fly.finance\/blog\/education-loan\/early-repayment-charge-of-education-loan\/\"><strong>Early Repayment charges on education loans<\/strong><\/a> are almost nil in most of the public sector banks. It is advisable to foreclose the education loan as soon as possible to save the money in the long run.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-how-is-the-loan-disbursed-in-a-secured-loan\"><span id=\"how-is-the-loan-disbursed-in-a-secured-loan\">How is the loan disbursed in a secured loan?<\/span><\/h2>\n\n\n\n<p>The loan amount is disbursed directly to the educational institution to cover tuition fees and other related expenses. The remaining funds, if any, are given to the student for living expenses. If the bank is providing a loan that covers other expenses like the purchase of a laptop, two-wheeler etc, then you can get that amount in your personal bank account.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-can-i-use-the-loan-to-cover-expenses-other-than-tuition-fees\"><span id=\"can-i-use-the-loan-to-cover-expenses-other-than-tuition-fees\">Can I use the loan to cover expenses other than tuition fees?<\/span><\/h2>\n\n\n\n<p>Yes, secured education loans cover a range of expenses, including tuition fees, accommodation, travel, and even study materials. You will also get cover for study tours, lab expenses, books, laptops for study purposes, etc. Check the list of the expenses covered in your loan and then apply if it looks suitable as per your requirements.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-what-happens-if-i-am-unable-to-repay-the-secured-education-loan-due-to-financial-difficulties\"><span id=\"what-happens-if-i-am-unable-to-repay-the-secured-education-loan-due-to-financial-difficulties\">What happens if I am unable to repay the secured education loan due to financial difficulties?<\/span><\/h2>\n\n\n\n<p>In case of financial hardship, it is suggested to communicate with the lender. Some banks offer flexible repayment options, such as extending the tenure or adjusting the EMI amount. You can ask your bank to restructure the loan and reduce the rate of interest. However, it\u2019s not necessary that the banks will approve your application. In case your account is a substandard asset or turned to NPA, then the bank may initiate the auction of your mortgaged property.&nbsp;<\/p>\n\n\n\n<p class=\"has-pale-ocean-gradient-background has-background\"><strong><em>Also Read: Facing difficulties in repaying the loan. Check all the major <\/em><\/strong><a href=\"https:\/\/fly.finance\/blog\/education-loan\/benefits-of-education-loan-restructure\/\"><strong><em>benefits of Education Loan Restructure<\/em><\/strong><\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-is-the-interest-paid-on-the-secured-education-loan-eligible-for-tax-benefits\"><span id=\"is-the-interest-paid-on-the-secured-education-loan-eligible-for-tax-benefits\">Is the interest paid on the secured education loan eligible for tax benefits?<\/span><\/h2>\n\n\n\n<p>Yes, under Section 80E of the Income Tax Act, the interest paid on education loans is eligible for tax deduction. However, only the interest amount in the EMI paid will be eligible for deduction. No deduction is allowed on the payment of the principal amount. Also, the deductions can be claimed for a period of 8 years from the date when interest repayment begins.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-what-happens-if-i-change-my-course-or-university-after-taking-the-secured-education-loan\"><span id=\"what-happens-if-i-change-my-course-or-university-after-taking-the-secured-education-loan\">What happens if I change my course or university after taking the secured education loan?<\/span><\/h2>\n\n\n\n<p>It is essential to inform the lender about any changes. Some lenders may allow adjustments in the loan amount based on the new course&#8217;s expenses. Also, it totally depends on whether the university that if they are refunding the fee or not. In case the university is not ready to refund the amount, the bank may not allow to change the same. You will need to a <a href=\"https:\/\/fly.finance\/blog\/education-loan\/top-up-education-loans-for-specialised-programs\/\"><strong>top-up education loan<\/strong><\/a> if you want to study any other course.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-can-i-transfer-my-existing-education-loan-to-another-lender-for-better-terms\"><span id=\"can-i-transfer-my-existing-education-loan-to-another-lender-for-better-terms\">Can I transfer my existing education loan to another lender for better terms?<\/span><\/h2>\n\n\n\n<p>Yes, loan transfer or refinancing is an option. However, it involves a thorough assessment of the new lender&#8217;s terms and conditions and may incur certain charges. <a href=\"https:\/\/fly.finance\/blog\/education-loan\/collateral-free-education-loan-refinancing-via-fly-finance\/\"><strong>Education loan refinancing<\/strong><\/a> is a good option when the existing bank increases the interest rate on your education loan. You can easily get a balance transfer for your education loan with any other bank or financial institution at lower interest rates.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-what-are-the-consequences-of-defaulting-on-a-secured-education-loan\"><span id=\"what-are-the-consequences-of-defaulting-on-a-secured-education-loan\">What are the consequences of defaulting on a secured education loan?<\/span><\/h2>\n\n\n\n<p><a href=\"https:\/\/fly.finance\/blog\/education-loan\/education-loan-default\/\"><strong>Education loan defaulting<\/strong><\/a> can lead to serious repercussions, including legal action and damage to the borrower&#8217;s credit score. It is very important to stay in touch with the lender and explore alternative repayment options if facing difficulties. Also, the bank may initiate the process of auctioning the collateral to recover the loan. This can be a huge risk for the borrower.&nbsp;<\/p>\n\n\n\n<p>This was all about the FAQs on Secured Education Loan. Secured education loans are one of the best options for Indian students aspiring to study abroad. Understanding the major factors of these loans is very important for making informed decisions.<\/p>\n\n\n\n<p>To know more about the loan application process, the best <a href=\"https:\/\/fly.finance\/international-bank-account\"><strong>international bank accounts for students<\/strong><\/a>, forex and banking experience for global students or <a href=\"https:\/\/fly.finance\/blog\/money-transfer\/\"><strong>international money transfers<\/strong><\/a>, reach out to our experts at 1800572126 to help ease your study abroad experience. ;<\/p>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table class=\"has-pale-ocean-gradient-background has-background\"><tbody><tr><td><strong>Related Blogs<\/strong><\/td><\/tr><tr><td><a href=\"https:\/\/fly.finance\/blog\/education-loan\/education-loan-defaulter-legal-action\/\"><strong>Understanding Legal Consequences: Education Loan Default Legal Actions<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/fly.finance\/blog\/scholarships\/top-international-scholarships-to-study-in-ireland\/\"><strong>Top International Scholarships to Study in Ireland<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/fly.finance\/blog\/education-loan\/faqs-on-restructuring-scheme-of-rbi\/\"><strong>FAQs on Restructuring 2.0 Scheme of RBI<\/strong><\/a><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p><strong>Follow Us on Social Media <\/strong><\/p>\n\n\n\n<ul class=\"wp-block-social-links is-layout-flex wp-block-social-links-is-layout-flex\"><li class=\"wp-social-link wp-social-link-instagram  wp-block-social-link\"><a href=\"https:\/\/instagram.com\/flydotfinance\" class=\"wp-block-social-link-anchor\"><svg width=\"24\" height=\"24\" viewBox=\"0 0 24 24\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" aria-hidden=\"true\" focusable=\"false\"><path d=\"M12,4.622c2.403,0,2.688,0.009,3.637,0.052c0.877,0.04,1.354,0.187,1.671,0.31c0.42,0.163,0.72,0.358,1.035,0.673 c0.315,0.315,0.51,0.615,0.673,1.035c0.123,0.317,0.27,0.794,0.31,1.671c0.043,0.949,0.052,1.234,0.052,3.637 s-0.009,2.688-0.052,3.637c-0.04,0.877-0.187,1.354-0.31,1.671c-0.163,0.42-0.358,0.72-0.673,1.035 c-0.315,0.315-0.615,0.51-1.035,0.673c-0.317,0.123-0.794,0.27-1.671,0.31c-0.949,0.043-1.233,0.052-3.637,0.052 s-2.688-0.009-3.637-0.052c-0.877-0.04-1.354-0.187-1.671-0.31c-0.42-0.163-0.72-0.358-1.035-0.673 c-0.315-0.315-0.51-0.615-0.673-1.035c-0.123-0.317-0.27-0.794-0.31-1.671C4.631,14.688,4.622,14.403,4.622,12 s0.009-2.688,0.052-3.637c0.04-0.877,0.187-1.354,0.31-1.671c0.163-0.42,0.358-0.72,0.673-1.035 c0.315-0.315,0.615-0.51,1.035-0.673c0.317-0.123,0.794-0.27,1.671-0.31C9.312,4.631,9.597,4.622,12,4.622 M12,3 C9.556,3,9.249,3.01,8.289,3.054C7.331,3.098,6.677,3.25,6.105,3.472C5.513,3.702,5.011,4.01,4.511,4.511 c-0.5,0.5-0.808,1.002-1.038,1.594C3.25,6.677,3.098,7.331,3.054,8.289C3.01,9.249,3,9.556,3,12c0,2.444,0.01,2.751,0.054,3.711 c0.044,0.958,0.196,1.612,0.418,2.185c0.23,0.592,0.538,1.094,1.038,1.594c0.5,0.5,1.002,0.808,1.594,1.038 c0.572,0.222,1.227,0.375,2.185,0.418C9.249,20.99,9.556,21,12,21s2.751-0.01,3.711-0.054c0.958-0.044,1.612-0.196,2.185-0.418 c0.592-0.23,1.094-0.538,1.594-1.038c0.5-0.5,0.808-1.002,1.038-1.594c0.222-0.572,0.375-1.227,0.418-2.185 C20.99,14.751,21,14.444,21,12s-0.01-2.751-0.054-3.711c-0.044-0.958-0.196-1.612-0.418-2.185c-0.23-0.592-0.538-1.094-1.038-1.594 c-0.5-0.5-1.002-0.808-1.594-1.038c-0.572-0.222-1.227-0.375-2.185-0.418C14.751,3.01,14.444,3,12,3L12,3z M12,7.378 c-2.552,0-4.622,2.069-4.622,4.622S9.448,16.622,12,16.622s4.622-2.069,4.622-4.622S14.552,7.378,12,7.378z M12,15 c-1.657,0-3-1.343-3-3s1.343-3,3-3s3,1.343,3,3S13.657,15,12,15z M16.804,6.116c-0.596,0-1.08,0.484-1.08,1.08 s0.484,1.08,1.08,1.08c0.596,0,1.08-0.484,1.08-1.08S17.401,6.116,16.804,6.116z\"><\/path><\/svg><span class=\"wp-block-social-link-label screen-reader-text\">Instagram<\/span><\/a><\/li>\n\n<li class=\"wp-social-link wp-social-link-linkedin  wp-block-social-link\"><a href=\"https:\/\/www.linkedin.com\/company\/flyfinance\/\" class=\"wp-block-social-link-anchor\"><svg width=\"24\" height=\"24\" viewBox=\"0 0 24 24\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" aria-hidden=\"true\" focusable=\"false\"><path d=\"M19.7,3H4.3C3.582,3,3,3.582,3,4.3v15.4C3,20.418,3.582,21,4.3,21h15.4c0.718,0,1.3-0.582,1.3-1.3V4.3 C21,3.582,20.418,3,19.7,3z M8.339,18.338H5.667v-8.59h2.672V18.338z M7.004,8.574c-0.857,0-1.549-0.694-1.549-1.548 c0-0.855,0.691-1.548,1.549-1.548c0.854,0,1.547,0.694,1.547,1.548C8.551,7.881,7.858,8.574,7.004,8.574z M18.339,18.338h-2.669 v-4.177c0-0.996-0.017-2.278-1.387-2.278c-1.389,0-1.601,1.086-1.601,2.206v4.249h-2.667v-8.59h2.559v1.174h0.037 c0.356-0.675,1.227-1.387,2.526-1.387c2.703,0,3.203,1.779,3.203,4.092V18.338z\"><\/path><\/svg><span class=\"wp-block-social-link-label screen-reader-text\">LinkedIn<\/span><\/a><\/li>\n\n<li class=\"wp-social-link wp-social-link-twitter  wp-block-social-link\"><a href=\"https:\/\/twitter.com\/flydotfinance\" class=\"wp-block-social-link-anchor\"><svg width=\"24\" height=\"24\" viewBox=\"0 0 24 24\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" aria-hidden=\"true\" focusable=\"false\"><path d=\"M22.23,5.924c-0.736,0.326-1.527,0.547-2.357,0.646c0.847-0.508,1.498-1.312,1.804-2.27 c-0.793,0.47-1.671,0.812-2.606,0.996C18.324,4.498,17.257,4,16.077,4c-2.266,0-4.103,1.837-4.103,4.103 c0,0.322,0.036,0.635,0.106,0.935C8.67,8.867,5.647,7.234,3.623,4.751C3.27,5.357,3.067,6.062,3.067,6.814 c0,1.424,0.724,2.679,1.825,3.415c-0.673-0.021-1.305-0.206-1.859-0.513c0,0.017,0,0.034,0,0.052c0,1.988,1.414,3.647,3.292,4.023 c-0.344,0.094-0.707,0.144-1.081,0.144c-0.264,0-0.521-0.026-0.772-0.074c0.522,1.63,2.038,2.816,3.833,2.85 c-1.404,1.1-3.174,1.756-5.096,1.756c-0.331,0-0.658-0.019-0.979-0.057c1.816,1.164,3.973,1.843,6.29,1.843 c7.547,0,11.675-6.252,11.675-11.675c0-0.178-0.004-0.355-0.012-0.531C20.985,7.47,21.68,6.747,22.23,5.924z\"><\/path><\/svg><span class=\"wp-block-social-link-label screen-reader-text\">Twitter<\/span><\/a><\/li>\n\n<li class=\"wp-social-link wp-social-link-facebook  wp-block-social-link\"><a href=\"https:\/\/www.facebook.com\/Flydotfinance\" class=\"wp-block-social-link-anchor\"><svg width=\"24\" height=\"24\" viewBox=\"0 0 24 24\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" aria-hidden=\"true\" focusable=\"false\"><path d=\"M12 2C6.5 2 2 6.5 2 12c0 5 3.7 9.1 8.4 9.9v-7H7.9V12h2.5V9.8c0-2.5 1.5-3.9 3.8-3.9 1.1 0 2.2.2 2.2.2v2.5h-1.3c-1.2 0-1.6.8-1.6 1.6V12h2.8l-.4 2.9h-2.3v7C18.3 21.1 22 17 22 12c0-5.5-4.5-10-10-10z\"><\/path><\/svg><span class=\"wp-block-social-link-label screen-reader-text\">Facebook<\/span><\/a><\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"<p>FAQs on Secured Education Loan: The journey of pursuing higher education abroad is an exciting yet challenging step for many Indian students. Securing financial support for studies is an important aspect of this process, and secured education loans are a popular option. You get low-interest rates, flexible loan repayment period, fast processing etc in secured &#8230; <a title=\"FAQs on Secured Education Loan\" class=\"read-more\" href=\"https:\/\/fly.finance\/blog\/education-loan\/faqs-on-secured-education-loan\/\" aria-label=\"Read more about FAQs on Secured Education Loan\">Read more<\/a><\/p>\n","protected":false},"author":24,"featured_media":9501,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[21],"tags":[],"class_list":["post-9497","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-education-loan"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.2 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>FAQs on Secured Education Loan<\/title>\n<meta name=\"description\" content=\"Check some of the most common FAQs on Secured Education Loan for Indian Students. Know about interest rates, collateral, loan default etc.\u00a0\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fly.finance\/blog\/education-loan\/faqs-on-secured-education-loan\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FAQs on Secured Education Loan\" \/>\n<meta property=\"og:description\" content=\"Check some of the most common FAQs on Secured Education Loan for Indian Students. Know about interest rates, collateral, loan default etc.\u00a0\" \/>\n<meta property=\"og:url\" content=\"https:\/\/fly.finance\/blog\/education-loan\/faqs-on-secured-education-loan\/\" \/>\n<meta property=\"og:site_name\" content=\"Fly Finance\" \/>\n<meta property=\"article:published_time\" content=\"2024-01-13T04:46:23+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-01-15T04:47:07+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/fly.finance\/blog\/wp-content\/uploads\/2024\/01\/FAQs-on-Secured-Education-Loan-.webp\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"640\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/webp\" \/>\n<meta name=\"author\" content=\"Shekhar Suman\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shekhar Suman\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"FAQs on Secured Education Loan","description":"Check some of the most common FAQs on Secured Education Loan for Indian Students. Know about interest rates, collateral, loan default etc.\u00a0","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/fly.finance\/blog\/education-loan\/faqs-on-secured-education-loan\/","og_locale":"en_US","og_type":"article","og_title":"FAQs on Secured Education Loan","og_description":"Check some of the most common FAQs on Secured Education Loan for Indian Students. Know about interest rates, collateral, loan default etc.\u00a0","og_url":"https:\/\/fly.finance\/blog\/education-loan\/faqs-on-secured-education-loan\/","og_site_name":"Fly Finance","article_published_time":"2024-01-13T04:46:23+00:00","article_modified_time":"2024-01-15T04:47:07+00:00","og_image":[{"width":1024,"height":640,"url":"https:\/\/fly.finance\/blog\/wp-content\/uploads\/2024\/01\/FAQs-on-Secured-Education-Loan-.webp","type":"image\/webp"}],"author":"Shekhar Suman","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Shekhar Suman","Est. reading time":"6 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/fly.finance\/blog\/education-loan\/faqs-on-secured-education-loan\/#article","isPartOf":{"@id":"https:\/\/fly.finance\/blog\/education-loan\/faqs-on-secured-education-loan\/"},"author":{"name":"Shekhar Suman","@id":"https:\/\/fly.finance\/blog\/#\/schema\/person\/fed86910ad7a5396db3f509f7f6f2e48"},"headline":"FAQs on Secured Education Loan","datePublished":"2024-01-13T04:46:23+00:00","dateModified":"2024-01-15T04:47:07+00:00","mainEntityOfPage":{"@id":"https:\/\/fly.finance\/blog\/education-loan\/faqs-on-secured-education-loan\/"},"wordCount":1481,"commentCount":0,"publisher":{"@id":"https:\/\/fly.finance\/blog\/#organization"},"image":{"@id":"https:\/\/fly.finance\/blog\/education-loan\/faqs-on-secured-education-loan\/#primaryimage"},"thumbnailUrl":"https:\/\/flyblog.fly.finance\/uploads\/2024\/01\/FAQs-on-Secured-Education-Loan-.webp","articleSection":["Education Loan"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/fly.finance\/blog\/education-loan\/faqs-on-secured-education-loan\/#respond"]}],"accessibilityFeature":["tableOfContents"]},{"@type":"WebPage","@id":"https:\/\/fly.finance\/blog\/education-loan\/faqs-on-secured-education-loan\/","url":"https:\/\/fly.finance\/blog\/education-loan\/faqs-on-secured-education-loan\/","name":"FAQs on Secured Education Loan","isPartOf":{"@id":"https:\/\/fly.finance\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/fly.finance\/blog\/education-loan\/faqs-on-secured-education-loan\/#primaryimage"},"image":{"@id":"https:\/\/fly.finance\/blog\/education-loan\/faqs-on-secured-education-loan\/#primaryimage"},"thumbnailUrl":"https:\/\/flyblog.fly.finance\/uploads\/2024\/01\/FAQs-on-Secured-Education-Loan-.webp","datePublished":"2024-01-13T04:46:23+00:00","dateModified":"2024-01-15T04:47:07+00:00","description":"Check some of the most common FAQs on Secured Education Loan for Indian Students. Know about interest rates, collateral, loan default etc.\u00a0","breadcrumb":{"@id":"https:\/\/fly.finance\/blog\/education-loan\/faqs-on-secured-education-loan\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/fly.finance\/blog\/education-loan\/faqs-on-secured-education-loan\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/fly.finance\/blog\/education-loan\/faqs-on-secured-education-loan\/#primaryimage","url":"https:\/\/flyblog.fly.finance\/uploads\/2024\/01\/FAQs-on-Secured-Education-Loan-.webp","contentUrl":"https:\/\/flyblog.fly.finance\/uploads\/2024\/01\/FAQs-on-Secured-Education-Loan-.webp","width":1024,"height":640,"caption":"FAQs on Secured Education Loan"},{"@type":"BreadcrumbList","@id":"https:\/\/fly.finance\/blog\/education-loan\/faqs-on-secured-education-loan\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/fly.finance\/blog\/"},{"@type":"ListItem","position":2,"name":"Education Loan","item":"https:\/\/fly.finance\/blog\/category\/education-loan\/"},{"@type":"ListItem","position":3,"name":"FAQs on Secured Education Loan"}]},{"@type":"WebSite","@id":"https:\/\/fly.finance\/blog\/#website","url":"https:\/\/fly.finance\/blog\/","name":"Fly Finance","description":"Explore blogs related to Education Loan, Student Bank Account, International Money Transfer, Scholarships along with latest news at Fly Finance.","publisher":{"@id":"https:\/\/fly.finance\/blog\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/fly.finance\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/fly.finance\/blog\/#organization","name":"Fly Finance","url":"https:\/\/fly.finance\/blog\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/fly.finance\/blog\/#\/schema\/logo\/image\/","url":"https:\/\/flyblog.fly.finance\/wp-content\/uploads\/2024\/01\/29151141\/Fly-Finance-Logo-1.webp","contentUrl":"https:\/\/flyblog.fly.finance\/wp-content\/uploads\/2024\/01\/29151141\/Fly-Finance-Logo-1.webp","width":1080,"height":1080,"caption":"Fly Finance"},"image":{"@id":"https:\/\/fly.finance\/blog\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/fly.finance\/blog\/#\/schema\/person\/fed86910ad7a5396db3f509f7f6f2e48","name":"Shekhar Suman","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/f364ae9617b8586195ccc6e5aff93f87f3a2072d38861c2f686c4a2a55b25de5?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/f364ae9617b8586195ccc6e5aff93f87f3a2072d38861c2f686c4a2a55b25de5?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/f364ae9617b8586195ccc6e5aff93f87f3a2072d38861c2f686c4a2a55b25de5?s=96&d=mm&r=g","caption":"Shekhar Suman"},"description":"Shekhar is a versatile writer with a passion for sharing knowledge and creativity. With expertise in crafting informative blogs on study abroad and finance, Shekhar helps readers navigate the complexities of education and financial planning. Most of his writings blend the practicality of finance and the beauty of language, making a meaningful impact in both spheres. Beyond his professional pursuits, he finds solace in the writing Shayari.","sameAs":["https:\/\/in.linkedin.com\/in\/thahankmoody","https:\/\/www.tumblr.com\/blog\/dhanlabh"],"url":"https:\/\/fly.finance\/blog\/author\/shekhar\/"}]}},"_links":{"self":[{"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/posts\/9497","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/comments?post=9497"}],"version-history":[{"count":3,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/posts\/9497\/revisions"}],"predecessor-version":[{"id":9500,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/posts\/9497\/revisions\/9500"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/media\/9501"}],"wp:attachment":[{"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/media?parent=9497"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/categories?post=9497"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/tags?post=9497"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}