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

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