Most students get their first taste of loans through the ever-helpful education loan. In most cases, higher education degrees cost the earth. And there are only so many full scholarships to go around. A lot of students who secure partial scholarships still find themselves spending sleepless nights thinking about the high tuition fees. This is apart from accommodation and the other miscellaneous expenses that arise on living away from one’s home. At such times, the education loan emerges as a friend indeed. It provides cash-strapped students with the means to help them fund that masters’ degree. The worries of “How will I afford it?” are eliminated at one go.
However, even if a student does manage to fuel his/her aspirations for higher education, the burden of the debt may lie heavy on his/her shoulders. Even if one manages to land a job with a good pay right after the completion of that education degree, paying off the debt might not be as easy as can be. As most of us are aware, the transition from student life to the world of adult responsibilities is not an easy one. This shift becomes even more difficult when the debt burden looms large. The...
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