Gäste » How many retired people do you know

"Studying abroad is a dream of every child. Given a chance Trevon Wesco Womens Jersey , they would love to go to their favourite university overseas. Scholarships and grades do come in handy in reducing the cost of the university fees. But what about the remaining amount? Your savings would not help here, considering the value of the education has increased manifolds over time. Educational loans can only bail you out from the scenario.

What is an educational loan?

Educational loans are given to meritorious and deserving candidates, generally. They are offered by banks and non-banking financial companies (NBFCs). With the help of the loan, students can pursue their undergraduate, graduate Chuma Edoga Womens Jersey , post-graduate, professional and doctoral courses efficiently. Unlike the personal loans, you can start repaying educational loans once you start earning.


If you want to take an educational loan for abroad studies, you have to be aware of certain facts concerning the loan. They are:


1) Covers additional expenses: There is a common misconception that an educational loan takes care of only the tuition fees. False. An educational loan also manages your costs regarding accommodation, books Jachai Polite Womens Jersey , flight tickets and even day-to-day expenditure.


2) Subsidised loans: In case your family's annual income is INR 4.5 lakh, then the government provides a subsidy. The moment you start paying your equated monthly instalments (EMIs), the government pays the interest on your behalf. So, you only have to pay the actual loan amount. However, there are some points to remember in this situation:


- It is not an interest-free loan as the bank still earn the same amount of money


- The subsidy service is applicable for only students who wish to study in India


3) The overseas factor: If you have taken an educational loan for abroad studies Quinnen Williams Womens Jersey , there are chances you will find a job and start earning in dollars in that country. This way your credit gets cheaper as the depreciating value of Indian rupee will work in your favour.


4) Tax-benefits for parents: Most of the educational loans come with tax benefits. As per the Section 80E of the Indian Constitution, you can earn a tax deduction for a total equal to your interest amount. It lightens the load of your parents鈥?shoulder. Note that you can use this deduction only to pay off the interest and not the principal amount.


5) No pre-payment charges: The best part about an educational loan is that no penalty is levied on pre-closing the loan amount. However, you can do so only after a stipulated period, i.e. after 6 months.

Now that you are aware of the benefits you earn from educational loans; the following are some points to keep in mind before applying for one:

1) Always look for loans that have zero margin
2) Since you can apply for loans online, check the interest rate offered by other lenders
3) Look out for universities that are linked with certain lenders
4) Repay your educational loan after accessing your future earning capacity



Author Bio:- Neha Sharma is a finance student who loves to write in her free time. She has spent considerable time researching about educational loan. Through her work Jamal Adams Womens Jersey , she provides tips before applying for one.

Total Views: 35Word Count: 553See All articles From Author


Senior Brain Power: Don't Waste Yours Self Help Articles | January 17, 2007
You don?t have to become part of a wasted senior generation. You don't have to waste your brain power. They key is to preplan, at least by midlife, to know what you want to do with the rest of your life after you retire.

On a talk show recently, the host and I were discussing retirement. He related the story of a friend Sam Darnold Womens Jersey , a CEO who couldn't wait to retire at 65. The pressure and stress of running a company had become so burdensome he was counting the days until it was all over.

The time finally came and he spent two years playing golf, fishing and taking his wife on cruises. One day he realized he was bored with the "good life" and wanted to work again, at least part time.

By that time, his business skills were rusty; he had lost his mental edge, and had gained too much weight. He knew he couldn't go back to what he had done before.

After much soul searching Le'Veon Bell Womens Jersey , he decided he had to do something ? anything -- and he took a job as a security officer at a bank.

How many retired people do you know who are putting to good use, for themselves and for others, their lifetime of skills and education? Probably not many. After the excitement of not having to answer to an alarm clock and the fun of living life as a pastime wears off their self confidence is all but gone.

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