Affordability: Studying abroad can be expensive, and an education loan can help cover the cost of tuition fees, accommodation, travel, and other expenses.
Lower Interest Rates: Education loans typically offer lower interest rates than other types of loans, such as personal loans or credit cards.
No Collateral Required: Many education loans do not require collateral, which means that students can obtain the loan without putting their assets at risk.
Flexible Repayment Terms: Education loans often offer flexible repayment terms, such as the option to defer payments until after graduation or to make interest-only payments while in school.
Tax Benefits: In some countries, education loans may offer tax benefits, such as deductions for interest paid on the loan.
Personal Development: Pursuing higher education can also help students develop personally, by expanding their knowledge, skills, and worldview.