TYPES OF STUDENT LOANS

There are different types of student loans provided for the educating people and depending upon the need and the condition of the student and the economic background of the people. This may also depend upon the period of payment and the amount required. We can classify the loans provided for the people into some of the following types.

• The government sectors directly provide loans for the students. The period of payment and the loan amount required will be decided by the money getter. They will be provided at very low interest rate than any other private sector banks.
• Other than the public sectors there are also some types of funds provided for the education of the students whose parents were working in the public sectors.
• There are also private sector banks that provides loans for the people who have the need to get the loans and not available at the public banks. Their interest rates will be normally higher than the public sector banks.
• The people of middle class and who are able to repay the student loans can get the student loans I the general student category now most of the loans were provided on these type.
• The difference between the public sector loans and private sector loans is that the students on the public loans can get more scholarships higher than the private sector loan lenders. But the private loans are easier to pay and they have many more benefits. They can get the loans at proper time than the public sector loans. But the amount will be decided by the banks itself.