• Eduction Loan : Student loans may be given by state-owned or private companies. State-owned companies will sometimes pay all interest while the student is in school. This is called a subsidized loan. The simplest type of loan is time based repayment, meaning a person must pay the same amount of money each month.

Interest rate: The cost of borrowing money Loan period: The length of time it takes to pay off the loan Loan limits: The maximum amount of money that can be borrowed Grace period: A period of time after disbursement when no payments are required Loan type: Secured versus unsecured, amortizing versus non-amortizing, and fixed-rate versus variable-rate

One of the main features of an Education Loan is that it covers many expenses, like tuition fees, hostel / mess fees, books / laptop costs, equipment / laboratory / uniform fees, travel expenses (for abroad), etc. Some banks also fund refundable deposits demanded by the college.

Student loans may be given by state-owned or private companies. State-owned companies will sometimes pay all interest while the student is in school. This is called a subsidized loan. The simplest type of loan is time based repayment, meaning a person must pay the same amount of money each month.

Assess your current loans: List all your loans, including interest rates, amounts, and repayment terms.

Research lenders: Find financial institutions that offer composite loans.

Prepare documents: Gather the required documents, which may vary by lender.

Apply: Complete the application form and submit the required documents.

Review terms: Carefully examine the terms of the loan, including interest rates, fees, and repayment schedules.

Get approved: If approved, the new loan will be disbursed and your existing loans will be paid off.

Start repaying: Begin making payments as per the new loan's schedule.