Banks that offer the lowest rates on education loans

a group of people sitting at a table using a laptop computer: Banks that offer the lowest rates on education loans

© Shubhashish
Banks that offer the lowest rates on education loans

For students, September has been a crucial month this year. In India, lakhs of students appeared for the Joint Entrance Exam (JEE)  and National Eligibility cum Entrance Test (NEET) after a prolonged tussle with the central government.

It’s also that time of the year when overseas-bound students pack their bags to head for their chosen destination country for higher studies.

Public sector banks show the way

While private and foreign banks vie hard for slices of businesses in other loan segments, particularly credit cards, public sector banks rule the roost in the education loan category.

At 6.80 per cent for a Rs 20-lakh study loan with a tenure of seven years, PSU major Union Bank of India offers the lowest rate at present, according to data compiled by BankBazaar.

It is followed by Central Bank of India and Bank

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Win $40K to Use for Education Savings, School Expenses or Student Loans in Sootchy’s Sweepstakes

An immigrant from Lagos, Nigeria, Adefeso worked three jobs to self-fund his Harvard MBA, yet still had significant loans to repay. His passion to make college debt-free, especially for underserved students, inspired him to develop Sootchy—an AI-powered digital platform to help families maximize 529 plans to pay education costs from K-12 to college.

To highlight his mission and the importance of diversity and inclusion in tech, Adefeso formally announced the $40K sweepstakes and the upcoming launch of Sootchy during TechCrunch Disrupt 2020.  He sponsored the inaugural Include Reception at the conference, the first Include event as TechCrunch launches the program to promote diversity in the tech world.

During the virtual Include Reception, Adefeso spoke to the existing disparity in wealth, and lack of education funds, for underserved communities, and led a roundtable discussion on diversity in the tech industry.

With the Sootchy Sweepstakes, Adefeso hopes to make a lasting

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Student debt exploded because of taxpayer-backed college loans

Tommy Gregory
 |  Guest columnist

Before COVID-19, before nationwide protests, and before rioting shook our streets, one of the biggest issues during the Democratic presidential primary debates was that of the absurdly high cost of college and associated student debt.

It’s a legitimate issue. College is exceedingly expensive. But the Democratic candidates never got into why college costs have been skyrocketing faster than even health care or what to do about the underlying problem. Instead, they offered government bailouts in the form of debt forgiveness and socialism is the form free college for everyone. These “solutions” would actually make the problem immensely, unsustainably worse.

For instance, Democrat standard-bearer Joe Biden wants to expand federal income-based college debt forgiveness and create a free public college program for families making less than $125,000.

But higher education was never to be intended as an entitlement. The underlying problem that the Democrat candidates did

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Senate coronavirus relief bill to extend PPP loans, target health care, education: Kudlow

White House economic adviser Larry Kudlow on Tuesday said he expects the Senate GOP’s latest coronavirus relief proposal to target small businesses, health care and education.

Senate Majority Leader Mitch McConnell, R-Ky., on Tuesday announced that he and other GOP leaders will be introducing a more “targeted” coronavirus relief package after Senate Democrats rejected their $1.3 trillion HEALS Act proposal in July.

“Targeted areas … could be very helpful. Maybe even make the recovery even stronger. For example, the Senate majority leader Mitch McConnell is coming out with a package today. It’s going to be targeting healthcare, education and the economy,” Kudlow said on Fox News’ “America’s Newsroom.”

Kudlow added that he thinks the Small Business Administration’s Payment Protection Program aimed at helping small businesses retain employees “will be extended” in McConnell’s bill.


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Education Department clarifies Trump executive order on student loans

Those are the same terms Congress agreed on in the last stimulus package. Lawmakers suspended education debt payments through Sept. 30 after the Trump administration in March gave borrowers the option of postponing payments for at least 60 days as the pandemic battered the economy.

As the deadline approached and Congress was unable to reach an agreement on an extension, Trump stepped in this month. But the president’s order created more questions than it gave answers about how the suspension would be applied. And by giving borrowers the option of halting their payments, rather than making the process automatic, and ignoring the treatment of loans in default, consumer advocates worried that many would fall through the cracks.

On Friday, the department addressed many of those concerns, though others remain. Chief among them is that the order still excludes more than 7 million borrowers whose federal loans are held by private

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