Student loan

Student loans are loans offered to students to assist in payment of the costs of professional education. These loans usually carry a lower interest rate than other loans and are usually issued by the government. Often they are supplemented by student grants which do not have to be repaid.

Student loans (popularly known as Education loans) have become a popular method of funding higher education with the cost of educational degrees going higher. The spread of self-financing institutions(which has less to no funding from the government) for higher education in fields of engineering, medical and management which has higher fees than their government aided counterparts have encouraged the trends. Most large public sector and private sector banks offer educational loans.