How much education loan can be availed for BSc Computer Science studies? Know complete information about easy EMI and payment
Study Loan: Education loan can be a great support for students studying BSc Computer Science. Let's know how...
If you want to take admission in a professional course like BSc Computer Science but are worried about paying the fees, then you do not need to panic. Nowadays education loan has become such an easy option, through which lakhs of students are completing their dream studies. The special thing is that banks and NBFC companies are now giving good loans for graduation courses like BSc.
BSc Computer Science is a three-year undergraduate course, whose fees can vary according to the college. If you take admission in a private university, then the annual fee can be around Rs 1 lakh to Rs 2.5 lakh. That is, the total cost of the entire course can be between Rs 3 to 7 lakh.
Banks usually offer loans of Rs 4 lakh to Rs 10 lakh for courses like BSc. If you take admission in a top university or government institute (like DU, BHU, or IISc), the chances of loan approval are even higher.
What expenses does the loan cover?
Hostel fees
Books and study material
Laptop/computer (if required)
Exam fees and lab charges
Travel expenses (if the college is in another city)
How does EMI and repayment work?
The best thing about education loan is that its EMI starts only after the completion of the course. That is, as long as you are studying, you only have to pay the interest or in some cases you don't have to pay that either. The EMI of the loan starts 6 months or 1 year after the completion of studies.
Suppose you have taken a loan of Rs 6 lakh and the interest rate is 9%. So your monthly EMI over a period of 7 years will be around Rs 9,600. However, the EMI amount depends on your total loan, interest and repayment period.
What documents are required?
College admission letter
Fee structure
Previous educational certificates
Aadhaar card, PAN card
Parents/guardian's income proof
How to apply?
Now applying for an education loan has become very easy. If you want, you can directly go to the bank branch or apply online on their website. Also, many colleges themselves tie up with banks and help students get loans.
