What is a secured education loan?
Asked by Nishtha Surbhi
-
1 Answer
-
In order to qualify for a secured education loan, the borrower must pledge collateral as security for the loan. An asset, such as real estate or other valuable belongings, may serve as the collateral. By putting up collateral, the borrower lowers the risk for the lender, which could lead to better loan terms like longer repayment terms or cheaper interest rates. In the event that the borrower defaults on the loan, the lender has the right to seize and sell the collateral in order to recoup the unpaid balance.
Overseas Admission Counselling by Shiksha Abroad
Book a free 30 mins session with our expert counsellors and get better recommendations.
- Transparent Process
- Fast Response
- Wide choice of Universities
- 100% Free
Planning to study abroad?
Get end-to-end expert guidance on University Shortlisting, University Application, Visa and Education Loan
Sign Up on Shiksha Study AbroadOn Shiksha Study Abroad, get access to
- 60 Countries
- 4k Universities
- 160k Courses
- 196 Scholarships