Education and Career Forum

Hello Everyone,
I want to know the drawbacks for applying Bank Education Loan? I am from Science stream and willing to study B.Tech. And I am planning to apply for an Education Loan. Please tell me if there is any drawback.

Originally Posted by Unregistered

Hello Everyone,
I want to know the drawbacks for applying Bank Education Loan? I am from Science stream and willing to study B.Tech. And I am planning to apply for an Education Loan. Please tell me if there is any drawback.

Drawbacks of bank education loan for B.Tech aspirant are given below;

One of the main drawbacks of an education loan is students started thinking about debt in very early age and planning to repay the loan than planning for his/her future.

If a student cannot get a good job after completion of the course, then, it is very difficult to repay the loan amount. It is also one of the main drawbacks of an education loan.

Students always feel the pressure of repayment of education loan. Education loan carries interest also.

Educational loan puts pressure on students while repaying and it is long term debts. The total amount of loan and interest puts burden on students.