Education Loan for MS in USA

Posted by Dyuthi vuddandam on April 1st, 2021

For many students in India, pursuing an MS in the US forms the basic building block of living the American way of life. Funding is a major cause of concern for many of them who are often unable to afford the high tuition fees and living expenses. Borrowing an education loan for their MS in the US is the only way out for such students. This is where the education loan schemes of numerous Indian banks and NBFCscome to their rescue.

What are the Benefits of Secured Education Loans For MS in the USA?

Interest rates are always in the range of 8% to 10% per annum.

The total loan amount significantly depends on the fair market value of the asset being pledged as collateral security.

Education loan co-applicants get to claim an income tax exemption based on their salary bracket. They can claim the same under Section 80 E of the Income Tax Act.

If the loan applicants are economically challenged, they may check for their eligibility and qualify for an education loan interest rate exemption under the various subsidy schemes introduced by the government of India.

Types of Assets Which Can Be Pledged As Collateral Security For Secured Education Loans For MS in US

Immovable Property: An immovable property is one of the most frequently pledged categories of assets as collateral against an abroad education loan for MS in USA. This category involves assets like a house, a residential flat, a plot with defined boundaries, an independent house, a non-agricultural land, etc. come under this category. The value of the property must exceed the total education loan amount required by candidates. This is a mandatory requirement and all candidates are required to meet this in order to get a government bank education loan to fund their expenses in the USA.

Liquid Security: Did you know that government banks do accept liquid assets as collateral against an abroad education loan for MS in US? Assets such as Fixed Deposits, government bonds, life insurance policies from government-approved lenders, etc. are accepted by government banks like the government banks, BoB, PNB etc. as collateral security.

Dyuthi vuddandam

About the Author

Dyuthi vuddandam
Joined: April 1st, 2021
Articles Posted: 3

Quality Office Furniture USA Shipped Direct - Madison Liquidators
Nationwide vendor of quality office furnishings including Desks, Office Chairs, Conference Tables, Cubicles and more!
Earn HNT Tokens with a Helium Hotspot!
Pre-Order a Helium hotspot and earn HNT tokens that are redeemable for USD. Set it and forget it!
Lolli: Earn Free Bitcoin When You Shop Online!
Lolli is a rewards application that gives you bitcoin for shopping at your favorite online stores.
Fold - Earn free bitcoin when you shop
Earn bitcoin cashback rewards when you shop at top retailers, including Amazon, Uber, Starbucks, Chipotle, and more. Download the app, sync your payment method and start earning bitcoin today!
CryptoTab Browser - Easy way for Bitcoin Mining | CryptoTab Browser
CryptoTab Browser is the world's first web browser with built-in mining features. Familiar Chrome user interface is perfectly combined with extremely fast mining speed. Mine and browse at the same time!
FREE Android & iOS App - Get Paid to Explore!
The COIN app is a revolutionary new app that pays you to explore the world! Download it today and start earning while you are on the go!