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Parents' income, child's record count in getting education loan: Experts

Students joining a professional course at a top-notch college will find it easier to get approval

Should you take an education loan or use retirement kitty to pay the fees?

An education loan is easier to get if you are headed abroad to pursue a professional degree (a STEM course, MBA, etc.) that improves your chances of finding a well-paid job

Sanjay Kumar Singh
If you are headed to the United States (US) for an undergraduate degree, you could well be looking at an annual tuition fee of $ 50,000-60,000 per annum. Throw in another $10,000-15,000 for living expenses. Multiply the annual expense of $60,000-75,000 by four for the entire course period and you are staring at an outlay of $240,000-300,000 (Rs 1.94-2.39 crore). A two-year Master’s programme could set you back by about half as much. Most students will have to take recourse to an education loan to meet expenses of this magnitude.    
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An education loan

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First Published: Aug 09 2022 | 7:38 PM IST

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