IS THERE ANY COMPANY THAT I CAN BORROW A LOAN FOR SCHOOL FEES?

Yes, certainly. There are companies that can help you to lift your academic world.  With a facility of personal loans today, students can sponsor their school fees.

This will cover fees for classes upto senior secondary and graduation. Isn’t that brilliant?

Individuals seek education loans, to fund their school and college fees. Compared to personal loans, education loans are much cheaper. In times of collateral, it gets even better as a bargain.

It is quite possible that the amount you pay for your children in schools is much more than a combined aggregate of their high school and graduation fees.  In the metropolitan cities, fees will be quite killing with high fees for kindergarten and primary/secondary schools. A playschool can be between 50k to 1 lac whereas between 1lac to 5 lac monthly.

Also read: Personal loan: A Financial help to a Person in Need

Making provision for such high fees is arduous, but still keeps it difficult to have a your child change. This way making a shift change of educational institutions isn’t possible. So, how does one resolve this issue? The first likely action would be to approach a bank or financial institution. Many prominent banks have begun to supply low cost education loan. This trend suddenly took off for a brighter future ahead.

Personal loans v/s Education loans

If you get some personal loans, it can also be channelized for the best of your purposes. Though, they are costlier and do not give a similar feeling of education loans. They are purely based on the individual’s capacity to repay. The benefit here is the instaneity of the loan amount getting credited to the account.

At last, if banks are not helping then try out new age P2P platforms and quick loan apps like

1.     HomeCredit

2.     Faircent

3.     Indiabulls Dhani

So, to be precise, it is better to approach education loans first to pay up education fees.

How does personal loan have an upper hand?

The application process of a personal loan is much easier and faster. The process gets even faster after you join hands with HomeCredit and get Personal Loan Online. The loan application procedure is fully online and hassle free. All that you need to comply with is upload required documents and get your approved contract signed. This is the way to complete registration for an early approval of your loan.

Let’s have a look at the documentation bit now for a personal loan. It is simple for a salaried individual with the below mentioned list of documents.

1.     PAN Card

2.     Address Proof (Any one) Aadhaar, Gas Bill, Electricity Bill, Voter ID card etc

3.     Last 6 months’ bank statement

4.     Last 3 months Pay Slips

Most reputed institutions provide personal loans with a higher interest rate for better usage. These loans are mostly emergency loans, which can free you from financial distress like uninvited bills, loan installment accruals, multiple payments etc., which can also true into ‘debt’ someday. Typically, personal loans are utilized for new purchases, vacations, home upgrades and what not.

Just be considerate of all terms and conditions of different types and take a responsible decision. Nothing here can be hidden. Conduct a thorough research to know of the best of lending institutions.