#1  
9th November 2021, 09:15 PM
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What would be the best way for repayment of education loan during difficult times?


I have taken the loan of 4,00,000 for MBA from the reputed university in Aug 2016 from UBI, including the moratorium period of 1 year which is going to complete Aug 2019. Now the total amount is more the 4L from the last 6months I m continuously paying the interest per month as much as possible. I belong to the ST category and my family background is agriculture farming, so is there any scheme running like subsidy on interest, so that I can get the banefit, plz guide me to repay the loan what would be the best way ?




  #2  
15th November 2021, 12:57 PM
Hera tabrez
Senior Member+++++
 
Join Date: Oct 2020
Location: Kanpur
Posts: 6,959
Default Re: What would be the best way for repayment of education loan during difficult times?

If you feel burdened, you can take the help of family.
Most lenders ask for a guarantor , and they usually prefer working parents as a guarantor , and if a family member has an ongoing home loan , it could be good idea to take a top up on it and use it for repayment.
Some of the steps that can help in repayment
Choose higher loan tenure
Pre pay if you have funds
Start some part time work
Live frugally
Pre planning is very important.
Do you have any question? or have anything to say?



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