Banks in India offer various schemes depending on the institution selected and the course of study. Most education loan schemes come with flexible repayment options and allow the borrower to plan his finances accordingly. Education loans carry a moratorium or holiday period which is very beneficial as the borrower is given a period of around six months after the completion of the course. 

The education loan repayment can be started after this period or as soon as the borrower has found a job. Education loans also cover the cost of boarding, lodging, tuition fees, travel and other related costs for the student.