Loanflix is the most comprehensive web-series on abroad education loans. The motive is to empower students and their guardians so that they can take an informed decision about the education loan.
Education loan repayment is the first thing that most loan applicants inquire about when they seek education loans to support their higher studies. The education loan repayment process varies depending on the kind of lender that you borrow your education loan from. Our education loan expert and the speaker for this 29th episode, Damini Mahajan gives you, a part-by-part breakdown of the entire student loan repayment process in India. The entire process of education loan repayment is explained in two sections; one, with respect to government banks and the other, with respect to private lenders.
Education Loan Repayment Process - Moratorium Period
At the beginning of the episode, Damini explains one of the most commonly used and the most commonly misunderstood terms in the education loan repayment process - the moratorium period. The basic meaning of the term, how it is implemented by government banks and private lenders, how long it lasts for and many more such basic concepts are introduced at the beginning of this 29th episode of Loanflix.
Student Loan Repayment - How government banks implement it
As you go further ahead in the episode, Damini explains the student loan repayment process of government banks with respect to three different aspects of the entire loan repayment process.
When should you begin the repayment process?
How long does the education loan repayment period last?
Do you stand to gain in any way if you pay your education loan interest from the beginning, without availing the moratorium period?
Education loan repayment in government banks - When to Begin the process?
Believe it or not, this is one of the most commonly asked questions by our students when they first get in touch with our team for their education loan process. You can get all your questions regarding the commencement of your loan repayment process when you watch this portion of the 29th episode.
Education loan repayment in government banks- Till How Long Does the Education Loan Repayment Period Last?
Government banks are known to grant the longest education loan repayment period to their loan applicants. Watch this part of the 29th episode to know the total loan tenure granted by most government banks.
Education loan repayment in government banks - Are there Any Education Loan Repayment Support Schemes Introduced by Government Banks for the Benefit of Loan Applicants?
In this part of the 29th episode, Damini debunks one of the biggest myths in the entire education loan repayment process.
Education Loan Repayment Process of Private Lenders
We begin with the explanation about the various education loan repayment rules introduced by private lenders in the second half of this episode. The entire process is explained in similar terms as mentioned above, however, this time, it is explained with respect to how NBFCs (Non-Banking Finance Companies) implement the whole process.
Education Loan Repayment Process of Private Lenders - When to Begin the process?
When does the education loan repayment begin in NBFCs? Do private lenders allow students to pay their education loan interest partially? If this is possible, under what circumstance do they grant this provision? Is moratorium period granted by NBFCs similar to that granted by government banks? In what ways is it different? Know the answers to all these questions in this part of the 29th episode of Loanflix.
Education Loan Repayment Process of Private Lenders - How Long Does The Education Loan Repayment Period Last?
Know all about the education loan repayment period granted by NBFCs in this section of the 29th episode. With this section, we come to an end of explaining the entire education loan process of both government banks and NBFCs. The further sections will tell you all about how you can plan your education loan repayment so that your liabilities reduce sooner.
Education Loan Repayment Process - How to Plan Your Education Loan Repayment in a Systematic Way?
In this section of the 29th episode, you get to learn about how you can initiate the entire education loan repayment procedure. You also get to know how you can avail the various benefits of any scheme when you begin your loan repayment process.
What is the Ideal Loan Repayment Tenure?
In this section, Damini explains how long you should ideally take to repay your education loans. She also gives tips on the total loan duration you should avail in order to get the maximum benefits from your education loan scheme.
The entire episode comes to a conclusion with this part. You may watch the entire 29th episode attached at the end of this video description below. Do subscribe to our channel and keep checking this section for further updates regarding future episodes.
Date And Time
Timezone : (GMT+05:30) Chennai
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Damini is the Cofounder & CEO of WeMakeScholars.com. It’s a BITS start up supported and funded under the IT Ministry, Govt. of India. The organisation’s motive is to offer unbiased collateral/non-collateral based education loan support to students who are planning for studying abroad. As this initiative is under the digital India campaign, it's at free of cost. WMS works with 14+ banks (public/pvt) in India and help you get the best edu loan matching your profile.
Prior to launching WeMakeScholars, Damini had done her masters from the University of Sheffield, UK. Her education was funded under the Developing Solutions Masters Scholarship which covered her full tuition fee ($ 38,000). Damini is also a gold medalist in her Bachelors and also won the outstanding student award from the Vice president of India.
She was the speaker at TiECon 2016 at Silicon valley, San Francisco in the social entrepreneurship segment. She was also covered in the Asian Entrepreneur magazine in the “Women on Top in Tech”, a global series of Women Founders, CEOs & Leaders in Tech.