4 tips to easily repay your Education loan for abroad studies

4 Tips to easily repay your education loan for abroad studies 1. Prepay your loan during the course period While you tread through your study program, you can use your free time to work at a part-time job. Many foreign universities offer their students part-time employment opportunities. For instance, a student in the final phases of their study program can opt to be an associate of one of their university professors and earn a decent sum of money through that job. LOAN 2. Start repaying your loan during the moratorium period Once a student completes their higher education, they get a grace period to find a job or start a venture of their own. That period is called as moratorium period. The interest clock keeps on ticking during this grace period. Students can also start paying the loan EMIS during the course period and save a significant sum of money in the long run. 3. Save more and prepay additional lump sums Naturally, as a student-turned-professional begins earning money, they will begin learning their financial responsibilities. In other words, they will learn to manage their financial obligations and savings. To pay back the education loan for abroad studies faster, a student can divert their savings to prepay their loan partially. 4. Refinance the loan A student may find repayment of their education loan for abroad studies too difficult. The reason for this may be too high loan interest rate or some other reason. A student should find a refinancer who charges lower interest rate than their first lender and transfer the remaining part of the loan to the refinancer. https://www.avanse.com/education-loan/study-abroad-loan/