Benefits of an education loan you should exploit.
An education loan can help you come up trumps, especially when you’re down on money and finding it hard to take your aspirations to the next level. Just approach a lender, fill in the application and get the funds you need to get moving towards your goals. However, most students only exploit one feature of a student loan – the financing. They forget that there are numerous other benefits you can use to your advantage. This article will highlight some of these benefits and ensure you make full use of your loan. 1. Tax benefits. Many aren’t aware that an education loan can provide you handsome & extremely helpful tax benefits. How? Well, the interest you pay towards a student loan gives you an easy way to avail equal deductions on your annual taxable income. This is made possible by sections 24 the Indian Income Tax Act respectively. Unlike similar providing made for home loans that caps the amount that can be claimed at Rs. 2 lakh, there is no limit on amount you can cla