Student loan is that type of loan which is given to students. For helping students to fulfill their higher education, education loan is very important. Today, higher education has become costly. A simple graduation cost has reached Rs. 100,000. Other higher education in the field of engineering or technology needs high money. So, in personal finance, it is very important to take the decision regarding student loan. All countries' govt. wants to increase the level of literacy. So, govt. provides tax rebate for paying the interest of student loan. Interest on student loan is very nominal and student has to pay very small amount after completing education.
Student Loans in India
There are 35 top of public and private banks in India who are providing the facility of student loan. Students can take the loan for all education including accounting education. Income tax law 80 (e) provides 100% deduction on the amount of interest paid against the interest of the education loan for self or his children.