Be careful, students! Education loan default means losing access to credit

A default will get reflected in your credit report and score, and you will not be able to get even a credit card, let alone high-value credit like a home loan

If you are a student planning to fund your higher education through an education loan, be warned. Many who have taken this path before you have defaulted. Non-performing assets (NPAs) within the education loan segment have been rising. According to data from the Indian Banks Association (IBA), NPAs in this segment rose from 7.3 per cent in March 2016 to 7.67 per cent in March 2017, and further to 8.97 per cent in March 2018. Clearly, repaying an education loan is proving to be more difficult than many students and parents imagine.

Culture of loan melas and waivers to blame: In