Is living expenses covered in education loan?
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Is living expenses covered in education loan?
Education loans are unsecured loans that can be used to cover expenses related to education, such as tuition fees, books, living expenses and other such expenses as transportation costs, etc.
What counts as living expenses for student loans?
You can also use student loans for living expenses. You’re limited to borrowing the school’s cost of attendance — that’s tuition and fees, books and supplies, room and board, transportation, and personal expenses —minus any aid you receive.
How can I get education loan in Germany?
List of documents required for an education loan to Germany
- Letter of admission from the college/University.
- Loan application form filled out in full.
- Documents on the cost of studies.
- Identification proof.
- Residence proof.
- PAN details of the borrower.
- Guarantor/co-borrower’s/student’s bank statements.
How can I get money for living and school expenses?
If you’re looking to pay for college and living expenses, then you have at least three options.
- Take out a student loan.
- Apply for a grant.
- Work while in school.
Which expenses are not covered by education loan?
There is a very common misconception that an education loan does not cover all the expenses which are likely to be incurred by students during their course of study abroad….Expenses for an education loan of a Typical Course Abroad
- Tuition Fees.
- Living Expenses.
- Health Insurance.
- Travel Tickets.
- Study Aid.
How much loan I can get to study in Germany?
Different Options of Education Loan for Germany
| Features | Public Banks | NBFCs |
|---|---|---|
| Loan Amount (INR) | Upto 1.5 crore | Upto 50 lakhs |
| Interest Rate Range | 8.85\%-10.25\% | 12\%-14\% |
| Processing Fees (INR) | INR 11800 + Property Evaluation Charges | 1-2\% of the loan amount |
| Payment During Study Period | No | Simple Interest |