Education Loan Calculator

Education loans help students finance their higher education expenses including tuition fees, accommodation, and other study-related costs. Our calculator considers the moratorium period during studies and provides accurate EMI calculations.

The calculator handles both domestic and international education loans with different interest rates and includes the moratorium period where only interest accrues without EMI payments.

Education Loan Features:

• Domestic Studies: Up to ₹10 lakh, 8.5% interest rate
• International Studies: Up to ₹15 lakh, 10.5% interest rate
• Moratorium Period: Course duration + 6 months to 2 years
• Repayment Tenure: Up to 15 years
• Collateral: Required for loans above ₹7.5 lakh

Moratorium Period:

• Definition: Period during which no EMI is paid
• Duration: Course period + 6 months to 2 years
• Interest: Simple interest accrues during this period
• Benefit: Allows students to focus on studies

Eligibility Criteria:

• Course: Recognized professional/technical courses
• Institution: Approved colleges/universities
• Co-applicant: Parent/guardian as co-borrower
• Academic Record: Good academic performance

Tax Benefits:

• Section 80E: Interest paid is fully deductible
• Duration: Up to 8 years or until interest is paid
• No Upper Limit: Entire interest amount is deductible

Features:

• Moratorium period consideration
• Domestic vs international loan rates
• Course duration planning
• Repayment schedule visualization
• Total cost calculation including moratorium interest