Do you have any idea that a college student has to go through lot of difficulties while applying for a loan for his/her studies? I have been applying for a loan for my studies since the beginning of the year. And I can’t even imagine how much trouble I am going to face if I had applied a year back.
Nowadays, the interest rates are extremely high and we need to pay the huge amount of money even if you are unable to pay. So, now it becomes quite tough for the students who wish to avail their benefits. Let me tell you one thing that a college student’s life is not an easy one. There are lot of difficulties and he needs to make lot of sacrifices. So, if you wish to help him out then this article will surely be a boon for you.
The government has made a new set of guidelines for the banks. Now they have been given some more time to decide the loan offers. The new loans include the direct loans and the unsecured loans. They are also offering some more options to the students. If you are thinking to borrow a huge amount then you will have to face lot of troubles.
For the secured loans, the interest rate will be quite high and you will also have to pay the extra money as an insurance.
For the unsecured loans, it is the best option for you. In this case, you will have to pay only the basic amount and if you are unable to pay the amount then the bank will not ask you to pay the higher amount. But still, there is a limit to the loan.
However, the student has to pay the loan interest amount from the starting of the month. So, it is better to choose the secured option because the interest is going to be very high.
There are many other factors that you need to keep in mind while applying for a loan. You will have to submit all the necessary documents and the banks will charge you a processing fee. You can apply online for the same as well.
Myths about Higher Education
A college student usually spends a huge amount of money for studying in a university. If you are a first-year student, then you may have no idea about the huge amount of money that you have to spend for your education. Students often believe that education is something expensive and it is not possible for them to do without spending money.
However, most of the students are not aware of the benefits that they can enjoy by studying in a university. When you have a great knowledge about the universities, you can make a better decision about your future.
In this post, I will share with you a number of myths about higher education and how they are affecting your future.
1. Studying in a University is a Good Investment for Your Future
The first myth about higher education that a student should know is that you can study in a university if you are a successful person.
Studying in a university is not a good investment for your future because it is only a medium and not a long term one. You need to focus on earning a degree rather than studying in a university for a long time. If you are thinking to study for a longer period, then it is better for you to opt for some special training programs.
2. A University Degree Gives You More Job Options
Many people think that a university degree gives you a high-level job. This is not true. If you are interested to get a job, then you should focus on preparing yourself for a job.
A university degree can help you to get a job, but not a high-level one. If you are interested to get a career in management, then it is better for you to join a professional school or an MBA program.
3. You Can Do Without Higher Education
This is the most common myth about higher education that people believe in.
I know this one is pretty frustrating because it is impossible for you to do without higher education. If you are interested to have a career in the field of business, then you must have a bachelor’s degree to get a good job. You can also do without higher education if you are a talented person and you have a strong passion for something.
4. If You Have Higher Education, Then You Will Have a Long and Prosperous Career
As I mentioned in the second myth, it is only a medium term goal to study in a university. You need to study as long as you can, but it does not mean that you can do without higher education.
If you are a talented person and you are passionate about your work, then you can build a great career for yourself. If you don’t have higher education, you will not get much salary because you will be competing with those who have a degree.
The college students are facing a lot of difficulties while availing a loan. It has become quite hard to save money and at the same time pay the loan. If you are also facing the same problem then this article is for you. If you wish to help him out then just read it carefully and don’t forget to share with your friends as well.