Tips to Pay-Off Education Loan
Finally! Those trials are over and out. The late-night sleepless submissions, the war on GPAs, and the bite-sized breakfasts are now behind you. Now, the future waits for you as you have envisioned it. You can hit the job as you always wanted. You are ready to soar.
BUT, there is a little bump in the road – EDUCATION LOAN
You still need to pay off. This reality check is hitting you. Now you know why your parents were so worried about saving every penny? How you can recall those words when they talked about ‘investing in mutual funds’, the conversations you never wanted to be a part of.
The word FINANCE was boring, but now it does make a good sense. Time to put on your thinking cap and gear up to face the financial challenges wherein you need to find out the way to pull off EDUCATION LOAN.
Get Set Go
Begin the journey by calculating the overall amount you have to pay. You can also use education EMI calculator or get in touch with the bank associate for the same. Doing this you’ll be able to figure out the financial targets you have every month.
Setting a Goal
Prefer doing your groundwork in advance; be alert of your monthly installments; make sure you have enough savings set aside for anything uninvited and to nullify the EMIs. However, the education loan is between 5-8 years. Keep a check regarding the same.
Make a habit of getting your EMIs with automated payments, this way you won’t be missing a payment deadline. Doing this will also give you a reduction in the rate of interest. Since education loan has a long-term of repayment, your credit score will get a boost only if you make timely payments. This, in turn, will help you access a low rate of interest when you are taking a car loan or purchasing a house.
Wait! There’s More
Although it seems a worry to pay-off your education loan, of course, it brings-in a dent in your savings. So, how about online investing in mutual funds with a start at INR 500? Sounds good, eh? Check out the best mutual funds at Gulaq and start investing. Also, get your KYC check for FREE.
Once you are ready, step-in and our team is right here to help!
*Mutual fund investments are subject to market risks. Please read the scheme information and other related documents carefully before investing.