5 Reasons Why You Need to Take an Education Loan

Education is one of the best investments you can make for your future. However, the cost of obtaining a university degree is quite a significant financial burden. While the most convenient way to finance your degree would be with a grant or scholarship, not everyone is able to get one. In these instances, an education loan can help you immensely.

Here are 5 reasons why you need to apply for a student loan if you are considering pursuing higher education.

Joint Application with Parents

For unemployed students or individuals just entering the workforce, taking on an education loan can be next to impossible . When taking one from HNB Finance, students benefit from the ability of making a joint application along with their parents to pursue their higher education. The parents can submit their income proof and obtain the loan for their children to pursue higher studies. If you are a working individual, you can provide your confirmation letter from your employer, salary slips and bank statements for the past three months to qualify for the loan.

Attractive Student Loan Interest Rates

If you take out a student loan from HNB Finance, you will be guaranteed the best interest rates in Sri Lanka. Based on your financial stability and the risk involved, high-interest rates can be detrimental to your future financial stability. Our attractive interest rates, together with the convenient monthly instalment plan, enables students to manage their future finances successfully. Equal monthly instalments will help you better plan your expenses and ensure that you won’t have any sudden spikes in your expenses.

Extended Repayment Period

Furthering your studies is an investment, and it should not be a financial burden. All too often, university graduates are riddled with financial debt at the end of their degrees. Our education loan, which is applicable for both local and overseas education requirements, offer you up to seven years to repay your loan, ensuring that you have ample time to finish your courses, and start paying off the loan through your own earnings.

One of the biggest misconceptions of education is that you can only further your studies while you are in your 20s and 30s. However, in today’s world, we are all constantly learning and evolving, which is why we have a wide age limit for our education loans. To be eligible for the loan, you must be between 18 and 55 years of age.

Can Fund Up To 90% of Your Course Fee

Finally, the greatest advantage by far is that we will help fund up to 90% of your course fee. A smart, flexible student loan can help you reach your potential and achieve your goals. If you’re interested in applying for HNB Finance’s Nenasara Loan, get in touch with us to start your future today.