Can I use the funds of education loan for studying abroad for accommodation and other purposes while studying in USA?

<p>Yes, you can use the funds from an education loan for studying abroad to cover accommodation and other living expenses while studying in the USA. Education loans typically cover a range of expenses beyond just tuition fees, including:</p><ol><li><strong>Tuition Fees</strong>: This is the primary expense covered by education loans, disbursed directly to the university.</li><li><strong>Living Expenses</strong>: Most financial institutions allow education loans to cover living expenses, which include accommodation (both on-campus and off-campus), food, and daily travel costs.</li><li><strong>Health Insurance</strong>: Some lenders include health insurance costs, although this can vary by institution.</li><li><strong>Visa Fees</strong>: Certain private banks may cover visa fees as part of the loan.</li><li><strong>Airfare</strong>: While not always included by default, students can often request that the cost of air tickets be added to their living expenses.</li><li><strong>Other Academic Expenses</strong>: This may include costs for study materials and equipment necessary for your education.</li></ol><p>It's important to note that the extent of coverage for living expenses can vary by lender, so it's advisable to check with your specific financial institution about what is included in your loan agreement.</p>

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