Income Tax Exemption for Education Loans Under Section 80E
Introduction
In this article I will be writing about the Income Tax exemption for the education loans. Earlier I have written few articles about the education loans in India and the new interest free education loans announced by the RBI. Many of us not aware of the tax exemption on the interest amount paid for the [...]
Education Loans will be cheaper from next year
Education loans above Rs.4 lacs will have the low interest rate compare to the present interest rates in the market. RBI is working with the few of the major indian banks to reduce the interest rates for the education loans.
It is recommending the banks to reduce the benchmark prime lending rate (BPLR) with a base [...]
Interest Free Education Loans
Today there is a significient announcement related to the education loans by the government. Financially poor students can take the education loans without paying the interest till moratorium period. Here moratorium period is 6 months after completing the course or when the student get the job, Which ever is happening first will be trigger the loan repayment [...]
List of documents required for the Education Loans
Declaration/Affidavit confirming that no loan has been availed from other Bank/Institution
Completely filled Application Form with Photographs.
Letter of admission from the Institute
Letter from the Institute stating cost break up of the program (term-wise, year-wise)
Marksheets from SSC onwards till the latest examination passed
KYC Documents for the Applicant & Co-applicant (Residence Proof , ID Proof , Signature Verfication [...]
Education Loans – FAQs
Education Loans
Eligibility for Education Loans?
Students who wish to pursue higher education .You need to be an Indian resident having secured admission in any of the bank’s list of approved course or universities.
Age criteria for education loans?
Anyone in the age group of 16-35 years can take this loan.
Which expenses does the loan cover ?
Fee Payable to [...]
Which courses can I take an Education Loan for ?
This article writes about the courses accepted for the education loans. The following are the list of courses:
Management Courses ( Full-Time + Part Time ) – PostGraduation
Engineering Courses ( Government + Private ) – Graduation
Medicine – Graducation + Post Graducation
Masters in Computer Application ( MCA/MCM) – Post Graduation
Online / Distance Learning courses.
Wherever it is a [...]
Tax Deduction for Education Loans
Introduction
It is common that students seeks loans for their education. Many people not aware that the education loans can be used for the tax deductions. From April 2007, the loans taken by self or parent or spouse is also deductible under the tax. In this article I will be writing about the tax deduction for [...]
