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Empowering Dreams

Education loans serve as a financial lifeline for students aspiring to pursue higher education, both domestically and internationally. These loans cover tuition fees, accommodation costs, travel expenses, and other educational-related expenditures.

Why Choose Orion Finance World for Your Education Loan?

Fast Approval

At Orion Finance World, we prioritize efficiency, ensuring swift processing and approval of education loan applications.

Easy Approval

Our streamlined application process and minimal documentation requirements make obtaining an education loan hassle-free.

No Security Needed

Enjoy the convenience of securing an education loan without the need for collateral or security, providing peace of mind to students and their families.

Quick Disbursal

Upon loan approval, funds are disbursed promptly, allowing students to commence their academic journey without delay.

Key Features

Moratorium Period

Repayment typically begins after the completion of the course, giving students ample time to secure employment and stabilize their finances.

Co-borrower Option

Parents or guardians can serve as co-borrowers, enhancing the applicant's eligibility and increasing the chances of loan approval.

Tax Benefits

Repayment interest on education loans is eligible for tax deductions under Section 80E of the Income Tax Act, providing financial relief to borrowers.

Multiple Courses and Institutions

Our education loans cover a wide range of courses and institutions, both in India and abroad, enabling students to pursue their desired educational paths.

Collateral and Non-Collateral Loans

Depending on the loan amount, collateral requirements may vary. Smaller loans may not necessitate any security, offering flexibility to borrowers.

Eligibility Criteria

  • Age: Applicants must meet the minimum and maximum age requirements specified by the lender.
  • Course/Program Eligibility: Loans are typically tied to specific educational programs or courses recognized by accredited institutions.
  • Admission Offer: Proof of admission to an eligible educational institution is a prerequisite for loan approval.
  • Academic Performance: Some lenders consider academic performance as part of the eligibility criteria.
  • Co-borrower or Guarantor: Applicants with limited credit history or income may require a co-borrower or guarantor, usually a parent or guardian.
  • Credit History: A good credit history improves the chances of loan approval and favourable terms.
  • Income/Financial Ability: Lenders assess the borrower's ability to repay the loan based on income and financial stability.
  • Loan Amount: Loan eligibility depends on the requested amount relative to the program's cost and lender's limits.
  • Collateral or Security: Larger loan amounts may require collateral or security against the loan.

Documents Required

Student-Applicant: Proof of identity, admission letter, academic records, and other relevant documents.

Co-applicant/Guarantor: Proof of identity, income documents, and collateral details, if applicable.

Income Proof for Salaried Co-applicant/Guarantor: Salary slips, employment certificate, and income tax returns.

Income Proof for Self-employed Co-applicant/Guarantor: Business registration documents, financial statements, and income tax returns.

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Calculator

Get an approximate figure for the total monthly instalment payments along with a complete break-up of the loan.

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FAQs

1. What is education loan?

An educational loan is a specialized financial tool intended to support students and their families in managing the expenses related to higher education, encompassing tuition fees, textbooks, accommodation, and other essential expenditures.

Eligibility requirements differ among lenders and countries, but commonly encompass aspects such as enrollment in a qualifying program, citizenship or residency status, academic achievements, and additional criteria specific to each institution or financial institution.

A moratorium period signifies a period of reprieve wherein borrowers are exempted from making loan repayments, commonly observed after graduation or upon commencing employment. Nevertheless, interest may accumulate during this interval.

Repayment typically commences after the moratorium period concludes, as outlined in the loan agreement terms.

Repayment choices encompass standard, graduated, and income-driven schemes, each featuring distinct terms and monthly instalment amounts.

The majority of lenders permit prepayment without imposing penalties, enabling borrowers to expedite loan repayment and minimize interest expenses.

In some countries, education loan interest payments may be eligible for tax deductions. Check your local tax regulations for details.

Depending on your credit history and income, a co-borrower or guarantor might be required to secure the loan.

Loan caps fluctuate depending on elements like the lender's guidelines, governmental regulations, and the chosen academic program.

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