It is said that 80% of the people living in India, belong to younger generation. Educational Loans in India is gaining more momentum and will have more significance in the coming years. However, lot of irrational beliefs, coupled with specific behaviours and thoughts are generated in our brains. This is influenced by culture and tradition, your family background. Furthermore, it also leads people avoiding process of taking the educational loans in India.
Events like the birth of a person, location, marriage is closely associated with the superstitions. In the present world, the people from the west consider themselves to be superior in thinking compared to others. Some of the interesting myths/superstitious created around educational loans are given below as follows:
Cost of Education: The procedure to take up good education in India is considered out of reach of common man. Media creates lot of enthusiasm about increase in the cost of education in India.
People get carried away by this and think before applying for educational loans. However, taking education through college is best form of education one can experience. They do offer financial assistance to people from backward sections of the society.
Private School/Colleges are out of reach: Students willing to go for education consider enrolling in private school/college very costly. Most of the private establishments are strong in offering aid/financial assistance to students from schedule caste/tribe/financially backward families.
Sufficient Financial Aid Not Available: There is a general feeling that sufficient financial aid is not available for students in India. Loans like the low-interest and reasonable interest loans are available in plenty with various banks. With the entry of big corporate houses in assisting students, this illusion can be thrown out of the window.
I Will Not Qualify For Loan Due To Parent’s Huge Income:
It is believed that, if your parents are earning huge salary, then you cannot apply for education loans. Now, many banks, financial institutions in India are lining up to offer the finest educational loans to students in India.
Fear of Failure: Most of the students of the present generation fear of losing their rank and seat in college. They depend on zodiac signs, movement of sun, moon and the stars.
So, you need not worry. One needs to take all relevant documents and submit it to bank to avail a good student loan in India.
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