Are There any Differences in Education Loan Terms for Undergraduate and Postgraduate Studies

Yes, there are differences in education loan terms for undergraduate and postgraduate studies. Undergraduate loans often have lower interest rates, longer repayment periods, and more flexible eligibility criteria since they target younger students with limited credit history. Postgraduate loans, on the other hand, may have slightly higher interest rates, shorter repayment tenures, and stricter eligibility criteria, often considering the borrower’s previous academic and employment record. Additionally, postgraduate loans might offer larger loan amounts due to higher course fees. Both loan types usually require repayment after a grace period, but terms vary depending on the lender and course.Readmore