Thursday 19 May 2016
Monday 16 May 2016
How to easily calculate the costs to fulfill your dreams?
While it’s no
secret that pursuing higher studies in India or abroad has grown more expensive
in recent years, the numbers are nonetheless surprising. The cost of tuition
and other fees, library charges, hostel and mess charges, cost of books and
equipment, maintenance, caution fund/building fund/refundable deposit and cost
of passage (for studies abroad), etc. has grown significantly over past few
years. The only way to stay atop the rising tide of expenses would be taking a
suitable student loan.
However, when
it comes to education loan there is a set of pros and cons that constantly
hinder the minds of parents and students. Many of them stay concerned on
matters like loan interest rates, payment duration, ways to repay etc. before
getting into the serious business of education loan. However, in India more and
more companies emphasize on offering customer friendly solutions for those
needy students who wish to take an education loan. They believe “The more is
the transparency better is the relationship between the banks or private
finance firm and customers (parents and students).” Therefore, most of the
leading banks & private finance firms have come up with Education loan
calculator India which helps you compare the costs of pursuing studies at
different universities or institutes, the interest rates applicable, the
processing fees, administration costs, payment duration and the flexible
options to repay the loan.
Variables like
your marital status, age and how long you will be attending come into the equation.
Then with some financial information like how much you will be able to
contribute each year and what scholarships or gifts you’ve already secured, the
student loan calculator India can tell you what amount of debt you can expect
to take on and what your costs will be after you pursue your higher studies to
be repaid.
Monthly Payments
Incase you
think you’ll be using one or more of these loan programs to pay for your higher
studies, it’s a good idea to determine ahead of time approximately what your payments
will be after you graduate. A Education loan calculator India helps you gauge
the size of your monthly payments. Remember the size will vary depending on
what types of financial aid you are eligible for and what university or
institute you attend.
Amortization
Besides
understanding what the monthly student loan payments look like a Education loan
calculator India tool also helps you understand how your loans will amortize
(be paid off) over time. First you calculate the monthly payment for each of
your respective loans individually, taking into account the loan amount,
interest rate, loan term and prepayment. Then add up the monthly payment for
each of the loans to determine how much you will pay in total each month. The
amortization of the loans over time is calculated by reducing the amount being
paid towards the principal each month from your loan balances. The principal
portion of the monthly payments will go down by the end of each loan term.
While
calculating your student loan is not a fun story at all but you don’t have to
get discouraged as well. Every student has its own experience on student loan
like high debt or low job prospects but Education
loan Interest makes these debt more manageable, and, in the long run,
worthwhile. It helps students and parents stay mentally prepared with the loan
structure, their outstanding balances from time to time and flexible options
available to clear off the debt. It brings peace of mind for them and helps
them build a concrete approach for the student loan.
Thursday 12 May 2016
Tuesday 3 May 2016
Calculate the education finance in a simple way
Education
is one of the important tools for individual progress. It helps you compete
well in the verticals of your choice so that you attain peak position and
thereby live a successful life ahead. It plays a vital role in shaping the
society to prosper socially and economically. It is important for us to study
if we want to stand strong in society but some of us cannot afford for higher
education. Education loan thus comes as helping hand for millions of students
across nation who wishes to fulfill their dreams of pursuing degree in India or
abroad.
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These
loans aim to provide the much needed financial support to deserving students
for pursuing higher professional or technical education in India and abroad. It
would be provided to those students who have obtained admission to
career-oriented courses e.g. medicine, engineering, management etc., either at
the graduate or post-graduate level.
While
taking loans it is genuine tendency for parents to get curious on how the loan
structure gets calculated? What is the interest rate charged? What is the
tenure? What are the repayment patterns? Is there any relaxation? etc. These
would be ideal concerns running into the minds of parents and students.
Banks
and private firm have introduced Education loan Interest an effective tool that helps you determine the
amount of money you need to pay, interest rate applied, tenure to make
payments, repayment options towards the education loan of your child. Today,
the use of these calculators has helped you eliminate the hassles of visiting
to the bank or private firms and also reduced tensions during the loan
application process. It helps a long way in arriving at a decision.
Education
loan Interest is an online personal finance
assessment tool for needy students who want to get financial assistance but are
hesitant due to complex calculations and uncertain interest charges etc. These
tools help student determine their monthly payments, total interest and
repayment that you have to pay in return. The principal, period of time and the
interest rate are the key terms necessary to perform the comparison between
different loan providers to select the best option which suits your financial
situation.
With
the help of Education loan Interest you can view the maximum amount for your study
loan that you can get. All you need to do is visit the relevant company site;
go to the eligibility calculator page and just key in the following details
like monthly income, monthly obligations, rate of interest and lastly the time
period you want to repay the amount. By entering all these information, you
will get the amount that you can get as education loan.
Education
loan Interest is
made available to you as a self-help tool for your independent use. It allows a
borrower to understand their loan requirements and then see how much their
payment will be depending on the interest and length of the loan. It brings a
mental peace to students and parents to get a firm approach towards loan
application and repayment. This can also be very useful to help see how much
you could save by refinancing.
Although,
prepayment of the loan should be the top priority on your repayment strategy,
but at the same time, you should get into savings habits through secured
savings instruments so that you accumulate a corpus every year to settle the
loan faster with reduced interest rate.
Monday 2 May 2016
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