Refinancing Education Loan

So you’ve taken a loan. What if we have cool options to slash your outstanding?

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IT'S TIME TO SAVE ON YOUR STUDENT LOANS

Are you tired of making interest rate payments that are sky high? Do you want to reduce your monthly payments on your existing education loan? Or are you looking to shift into an income-based repayment program?

If you have answered yes to any of these questions, a refinancing loan is the best option for you.

When you choose to refinance your loan, you get good credit for the changes in your financial profile due to advances in career and income. So, take the first step towards refinancing your student loans with EmpowerYouth. We offer student loan refinancing at better rates, tailored options and repayment plans that fit your life.

How To Refinance
Your Education Loan

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Apply

Start by submitting your documents and those of your cosigner.

Check rates

In order to get the best rate quotes, provide some basic info. A list of lenders will be recommended to you online in a few minutes.

Consider your options

Look for different options by checking the reviews and reading FAQ's about refinancing.

Choose a loan

Choose a loan scheme that best suits your needs and requirements

When To Refinance Your Education Loan?

If a lender is offering an attractive rate of interest.

If there is a significant rise in your income.

If your credit score has been improved

If you want to extend your loan repayment tenure.

Benefits Of Refinancing

Lower Rate of Interest
Lower Monthly Installments
Shorter Payoff Term
Add or Remove a Cosigner

Lower Rate of Interest

One of the main benefits of refinancing your student loan is to get lower interest rates on your education loan. If you are eligible by having a good credit score and stable income, you can definitely get a student loan with lower interest rates.

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EZ Capital

PHF Leasing

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MPower Financing

FAQ

1. What all documents are required for the approval of loan via EmpowerYouth?

The following documents will be required to submit for loan approval.
- AADHAR CARD
- PAN CARD (mandatory in certain Banks/NBFC's)
- PHOTO
- PASSPORT
- 10TH to Last Qualification
- COLLEGE ADMISSION LETTER
- ENTRANCE EXAM SCORE CARD (if any)
- IELTS SCORE CARD
- OFFER LETTER (mandatory in certain Banks/NBFC's)
- MOBILE NUMBER
- EMAIL ID
2. Is the loan available for abroad studies too?

Yes. The loan is available for both India and abroad.
3. When do we have to start to repay the loan?

Direct EMI starts next month from the date of sanctioning of loan
or Moratorium period (simple interest is charged on the amount disbursed)
4. What all expenses will be covered in the loan?

The following expenses will be covered depending upon the terms of Banks/NBFC:-
Fee payable at college/ school/ hostel
Examination/ library/ laboratory fee
Travel expenses/ passage money for studies overseas
Insurance premium for student borrower
Caution deposit, building fund/ refundable deposit supported by institution bills/ receipts
Purchase of books/ equipment/ uniforms/ instruments
Purchase of computer at reasonable cost if required for completion of the course
Any other expense required to complete the course like study tour, project work, thesis.
5. Is there any collateral required to secure the loan?

The collateral for security will depend from case to case. We will study your case and inform accordingly.