Financial Considerations to Understand as a Student

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Students are the pillar of any Nation. Only the educated citizens can develop the Nation. India has 63% young population, due to which the educated youth can only take India from developing t developed country. To get quality education one must have good financial conditions. As education cost high money from students. Almost 70 million people do not get educated all over the world due to their financial condition.

In India its not the hidden fact that the number of students studying abroad is likely to increase by 50% in the coming 5 year. The main reason of this is the fact that the Indian Job market appreciates a degree from a top international university more compared to a Bachelor's or Master's degree from a tier 2 or tier 3 Indian Institute. along with this Foreign Universities has quality education, flexible curriculum and better facility.

However every Indian student fail to embark their studies in foreign countries due to lack of financing. Scholarship, financial aids and sponsorship are available but they are highly competitive and also do not always cover whole expenditure.Government has made some schemes for students one of which is education loan which is one of the priority sectors under which banks are required to lend by Reserve Bank of India. And also beside this students applying for education loan for studying abroad can avail tax benefits under Section 80(E) of Income Tax Act 1961. The Education loan is getting quite popular among students who want to study abroad.