How to compare best education loan options

1
Best Education Loan
2
How to Compare Best Education Loan Options Have
you already checked out our International Best
Education Loan Comparison Tool, but realized that
you werent exactly sure how to compare the
results given? Deciding which loan is the right
one for you can feel a little overwhelming, but
here is a cheat sheet on how to compare your
different loan options and choose the best one!
3
Now, before jumping into the loan jargon here are
some basic questions you should ask yourself in
order to compare loans efficiently   ? Do I plan
to work and study at the same time? ? Do I want
to get a Masters? ? Do I want to make loan
payments while I am studying or begin repayment
once I have graduated?   You may not have a clear
answer for these question at the moment, but if
you do these questions will you give you some
extra insight on which loan conditions are right
for you.
4
Interest Rates Variable or Fixed? Interest
rates are the part of taking out a loan that
everyone hates, so if you can get the best deal
youll feel very satisfied. When you apply for a
loan, you are asked if you want a variable or
fixed interest rate and the distinction is very
important. Variable A variable rate means
exactly that, the interest rate on your loan
varies and changes over time. This is considered
somewhat of a gamble because if the economy
changes, your interest rate can either decrease
or increase. ?Fixed Most people automatically
go with a fixed interest rate because its stable
and, therefore, stays the same as long as your
loan exists. A fixed rate makes it easier for you
to calculate your monthly payments, which in turn
allows you to organize your finances. In essence,
it gives you more control from day
5
1.Repayment Schedule When choosing the details
of your repayment, is when the previous questions
could come in handy. It is important to know if
you have the option to defer (postpone) payments
until after you have finished your studies or if
you have to begin repayment as soon as you sign
your name. Here are 3 of the most common
repayment schedules and what they mean Standard
Repayment Standard repayment usually gives you a
10-year limit to pay off your loan. During those
10 years you have a fixed monthly amount, and the
lender usually requires a minimum monthly payment.
6
Extended Repayment Extended repayment is similar
to standard repayment, in that you have fixed
monthly payments. However, you have the option to
pay back your loan between 12-30 years. This of
course lowers your monthly payments, but it is
important to remember that the lender will be
charging you interest during this time. Although
you may have lower monthly payments, more
payments means more interest which means more
money paid over time. Graduated Repayment With a
graduated repayment schedule, the idea is that
you start off paying a specific monthly payment
and that this amount is readjusted (increases)
every 2 years. The repayment timeline given is
usually 12-30 years.
7
Special Conditions and Additional Fees You may
have heard the term deferment thrown around when
talking about loans and you may know that it
means postponing your loan payments. When taking
out a private Best Education Loan you must be
careful with the fine print. Although deferment
exists, with private student loans it might be a
little bit trickier. Many times, in the fine
print is where you will find a multitude of
hidden fees that can come back to haunt you
later. Here are a few fees to keep an eye out
for Deferment Paying off your loan
early Penalties for late payments Sourcehttps//
goo.gl/MSDwFi
8
Follow Us On
https//www.facebook.com/AvanseEducationLoan
https//www.linkedin.com/company/avanse-financial-
services
https//plus.google.com/AvanseFinancialServicesLt
dMumbai
https//twitter.com/avanseeduloan
https//www.youtube.com/channel/UCcsuUx1EH1C08XmX2
embpug
9
Click to know more onBest Education Loan

• http//www.avanse.com/education-loan