MBBS Admission Abroad
by Danny C Bruce Press Release Writer & PublisherStudy Loan For
Abroad Vs. Self-Funding - Which Is Better?
The
quality of education plays a crucial role in identifying the psychological and
financial benefits one can get from his/her professional life. When you take
the case of job-oriented degree courses, these courses from reputed
institutions are generally designed for equipping students with the tools
required for building a strong future.
When it comes to higher education abroad, study
loan for abroad is a viable option that has helped and continues to
help many students to complete their dream courses abroad. But, will it be good
compared to self-funding? Let us find out here:
For income tax
benefits:
When
your parent takes an educational loan for your higher education abroad, they
can save a lot on the money they spend on taxes. They can claim deductions and
this is one of the reasons why an educational loan is a viable option as
compared to self-funding. Claiming deductions on the interest paid on these
loans is possible as well. Above all, the deduction can be claimed continuously
for 8 years.
Credit score
improvement:
When
your father applies for a loan for your education and complies with the
repayment terms, it can considerably increase his credit score. As you might be
aware, a better credit score is something important to get lending for
financial needs arising in the future. On the flip side, low credit scores
indicate the economic instability of your father. So, if you are interested in MBBS
admission abroad, you and your father should think over it.
100% cover:
When
you do your higher education abroad, you will have to bear many additional
expenses apart from the tuition fee. For instance, you will have to bear
personal and living expenses, lab and equipment charges, library fee, one-time
registration fee and other such expenses. Educational loans are comprehensive
and they extend funds that you need to support a healthy lifestyle in a foreign
nation.
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Created on Jan 15th 2020 15:02. Viewed 353 times.