Personal Loans to Finance Higher Education Abroad: Good or Bad?

Welcome to the viewing of episode 11 of Loanflix Inshorts. This episode aims to elaborate on several reasons why it is wiser to finance higher education with an education loan as opposed to personal loans. You can find the video embedded at the end of this description

Loanflix InShorts is a series of really small duration, three-minute episodes which cover some of the basic, common terms involved in the abroad education loan process. The major aim behind introducing Loanflix InShorts is to provide knowledge of the education loan process at a deeper level, thus enabling you to have a hassle-free experience.

Pursuing higher education abroad can be a costly process. With an increase in the number of students applying for higher studies abroad, the demand for reliable sources which can help them finance higher education is also increasing. However, students who are in urgent need of higher education funding often turn to easier loan options like personal loans and gold loans, without weighing in their pros and cons. In this episode of Loanflix Inshorts, Damini will help you understand how education loans are a better choice to finance higher education as compared to any other type of loan. The topic is elaborated in the form of the following points.

Reasons Why Students Turn To Personal Loans To Finance Higher Education

Has your loan officer recommended you to fund higher education with the help of personal loans? Then you should watch the beginning of this episode, in which Ms Damini Mahajan, our education loan expert and the speaker for this episode, elaborates on the different reasons why students and parents opt to finance higher education with the help of other loans such as personal loans, gold loans, etc.

Benefits of an education loan over personal loans for higher education funding

Since the duration of this episode of Loanflix is very short, we immediately move on to explain some of the major benefits of choosing an education loan to finance higher education abroad or in India. For example, did you know that a moratorium period is only applicable to education loans? Know more about this, and the several other benefits of borrowing an education loan to fund higher education.

How to apply for education loans in India to fund higher education abroad?

Students who wish to finance higher education with the help of student loans are often advised by loan managers to borrow personal loans to meet their expenses. However, how beneficial will this advice prove to be? Know more about how you can effectively avail an education loan which covers all your expenses by watching this part of the episode.

With this point, the episode comes to a conclusion regarding how personal loans are better than education loans to finance higher education. In order to get up to date information about the future episodes of Loanflix Inshorts, keep reading this page.