Personal Finance
Should You Take Out An Education Loan or Personal Loan For Your Higher Studies?
By ValueChampion  •  February 9, 2023
Congratulations on making the decision to further your studies! Now that you have taken the big leap of faith, you might be wondering what available options there are in financing your higher education. Both personal loans and education loans are viable choices. There are a few key differences between the two types of loans. Here, we break down the different types of loans so that you can decide whether an education loan or a personal loan is the right choice for you. Which is Cheaper — Education Loans or Personal Loans? Source: Unsplash Education loans are likely to be the cheaper option. At the first glance, the interest rates charged for personal loans look comparable with education loans. The interest rate for personal loans typically ranges from 3.48% to 4.00% while the interest rates for education loans range from 4.38% to 5.20% per annum....
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By ValueChampion
We distill sprawling marketplaces—for insurance, credit cards, bank accounts, and more—down to choices that represent a sweet spot for value—as in offering the features, returns, or experience we think you need for the smallest outlay. We ask: Is the return on a particular purchase or decision worth the cost or risk of that option, and how does the choice stack up against other options?

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