The Private Finance Companies are bodies which providefunding to students for their higher education; in other words, these companiesprovide educational loans to students who want to opt for higher education. Education in India is no cheaper and any good course or professional course coat a huge sum, for example, we may take 1 lakh whether for technical courses or financial courses. This may even be the minimum amount needed. Earlier, when parents were not able to provide the required amount for higher education, the child had to give up on their education and did not even get the dream job they wanted. But now these private finance companies have come to assist the parents and students so that they do not have to give up on their education.
List of things required for loan
The student may easily avail the loan if he or she has the given things ready
• 2 passport size photographs
• The mark sheet of last qualifying exam
• The bill or the documents where the sum you require is mentioned.
• Identity proofs.
• Third part guarantee
The third party guarantee may come from anyone from the family or friend ( friend must give the guarantee of the full amount.)
The loan can be repaid once the student gets the job. And the time of repayment should start 6 months to 1 year after the student gets the job. This ensures that the student has some money for himself or herself first and then starts repaying the sum of the loan.
Also, the candidate, before taking the loan, must ensure that the course is recognized by UGC or AICTE. The finance companies punegive loans at a low rate of interests, and the time for payment is also flexible so that in no condition, the person has to stress about the repayment of the loan.
