Education Loan helps students to fulfil their dream. But every students should know about all terms and conditions of education loans. In this slides, we have mentioned 6 points about the education loan which will help to you to pursue your education loan.

1. Everything you Need to
Know About !
http://ovationedu.com
Are Looking For
Education Loan For
Abroad?

2. Compare financial aid offers:

3. Borrow only what you need:

4. Look around for more options:

5. Be aware of what you're
signing:
• How much will this loan
cost in total?
• What will my monthly
payments be?
• Is the interest rate fixed
or variable?
• What fees do I have to
pay?

6. What does Your loan cover?
• Basic fees for the course
• College accommodation
and other miscellaneous
expenses

7. Who can apply for an education
loan?
• A student is the main borrower
• Parent or the sibling is the co-applicant

8. Eligibility and documents
required:
• Anybody who applies for the loan has to be an Indian
citizen
• The applicant should have completed his or her
schooling
• A good academic career of an applicant is a must
• He banks require documents, including the admission
letter of the institution, fee structure, Class 10 and Class
12 mark-sheets

9. What happens if the person is
not able to pay back the loan?
• If they are not able to pay the loan back, then we, the
bank can take legal actions against them. But in such
cases, the one who lends money also comes in the light,
as he or she did not have a proper assessment of the
person who is asking for a loan," said a bank manager
from the Bank of India, while speaking to us.

10. Precautions
• While applying for a loan,
one should also look out
for bank charges such as
those related to
processing, pre-payment,
late payment of EMIs,
etc. Most lenders charge
processing fee of around
0.15 percent of the loan
amount.

11. Thank You
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