Education Loan Guide
Around 2/3 of students are applied for education loan to support their study. A brilliant student might achieve their goal, be the best of the world. But before that all of them need a. fund to support education. Generally, students will spend at least 10 thousand for course taken, no matter is private or government college or university. Other than grants, scholarships or fund from parents, loan is one of the way to getting money for education
In market there are hundred of lenders and loan packages offering. You should search the relevant information online and study it 1st before dealing with lenders , banks or financial institutions. Basically, student loans are separate into 4 main categories. To review the loan types, please check out Apply for Student Loan Guide instead of Education Loan
Loan Repayment Option
When come repayment time, almost all lenders permitted borrower to adjust the repayment terms to suit their personal circumstances. There are several types of repayment options as below :-
1) Standard option - Make a equal monthly payment in the payment term around 10 years.
2) Extended repayment - Depending cases, some borrower are allowed to extend till 25 years of payment terms
3) Income-contingent repayment - The plan is ties the repayment amount to the income of borrower, if necessary, longer period of repayment term will be allow.
4) Graduated repayment - The payments gradually will increase in certain period (usually every two years). This is to suit borrower's scenario, income of borrower likely will increase also.
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