Tag: Education Loan

12
Feb

DIFFERENCE BETWEEN STUDENT LOAN INSURANCE & STUDENT HEALTH INSURANCE

In our previous blog, we explained what loan insurance is and how lenders use it to safeguard loan repayments against default on part of the borrower due to death or disability. Of late however, Student Cover has found that many lending institutions such as banks and NBFCs have been deceiving students into purchasing overseas health insurance plans along with their

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10
Feb

What is Loan Insurance?

Overseas education loan has both its merits and demerits. While it helps a student pursue his or her dream to study abroad, it also puts the student under tremendous pressure to do well so as to be able to repay the loan with interest. But what happens if a student is unable to repay the student loan? If the loan

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8
Jan

Impact of changing or leaving course or university midway on Education Loan status

One of the biggest worries of an Indian student who wishes to change or leave the ongoing study program midway in the US is regarding the education loan taken by him or her to finance it. This is because financial institutions lend money only after they are convinced that the borrower will be able to repay the loan after completing

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3
Jan

5 things to keep in mind before changing course or university midway in the US

To err is human, to rectify it is smart. There are times when one realizes that the path that one has taken is not going to take him or her to the desired destination. Deciding which college or university to study in or which study program (course) to get enrolled in requires meticulous planning. However, sometimes, despite clear focus and

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20
Dec

What are ISA loans and how do they work?

As the US Presidential election draws near, the issue of student debt has once again come to the fore. According to some estimates, students who have taken loan to finance their higher education in the US owe lenders as much as $1.5 trillion. To put this figure in perspective, that amount is roughly equal to 50% of India’s Gross Domestic

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30
Nov

20 Education Loan / Student Loan terms you should know (Part 1)

With increasing number of Indian students heading overseas to countries like the US, UK, Canada, Australia and New Zealand, the demand for overseas education loans has been growing steadily in last several years. Students seek education loans to pay the tuition fees and living expenses during the course duration and hope to repay it after securing a job overseas. And

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2
Nov

Student Cover’s guide to studying in the US: Part 5 – Preparing for Departure

In part 5 of 5 part Student Cover’s guide to studying in the US, we focus on the things that a student must do after getting admission in the College or University in the US. These include getting education loan to finance the program, arranging relevant documents to travel to the US, getting oneself insured etc. Arranging Education Loan Education

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31
Oct

How to choose the best education loan for study in the U.S.?

US is home to some of the best Universities and Colleges in the world. However, the high-quality education in the US also comes with equally high cost. To finance higher education in the US, people usually take education loans from Public/Private Banks or Non-Banking Financial Companies (NBFCs) in India. With so many financial institutions offering a vast array of education

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23
Oct

Loan repayment techniques – Snowball vs. Avalanche

As the society grows more materialistic, so does its debt burden. However, each penny borrowed today has to be returned with interest tomorrow. Paying EMI on a single loan, say education loan may not be so difficult but when one has to simultaneously pay EMIs of several loans such as Car loan, credit card dues etc, it becomes burdensome. If

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22
Oct

Tips to repay education loans without hassle

Taking an education loan has its own pros and cons. While it helps finance a student’s higher education, it also means that the student, after having graduated has to shell out a good, if not significant, chunk of his or her salary to repay it in the form of EMIs. In this blog, Student Cover provides certain tips for students

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