Healthcare workers have several expenses to take care of. To aid themselves, they can take help from different loans available at trustworthy companies like Peerless Finance. Millions of students across the globe find the student loan a lucrative option compared to other types of loans because of the infinite benefits it has. Here are some of these benefits.
Advantages of Student Loans For Healthcare Workers
- Tax Benefits: Under Section 80E of the Income Tax Act, the applicant or co-applicant applying for taxes can be exempt from a part of the taxes. Often, the interest amount is entirely tax-deductible. It can help save a lot of money for students, who cannot afford to pay a lot.
- Get Relief from Several Expenses: The best part of student loans is that it covers a lot of expenses. This type of loan covers house rent, travel tickets, tuition fees, university fees, and study material fees.
- Low-Interest Rates: High-interest rates can be something that can cost a lot. But with a student loan, you do not have to worry about this. The interest rates with student loans are pretty low, which means that students can easily pay off their loans.
- Easy Repayment: With most loans, you need to repay them almost immediately. But considering the loan is designed to help students who are not earning just yet, one gets time till they start working to repay the loan.
How to Apply for Student Loan?
Student loans for healthcare workers are easily available. What is the eligibility criteria for applying for a student loan? Below you will find the complete to help you out here.
- The student applying for the student loan must be a resident of India.
- The student must have a confirmed position at any educational institution in India or abroad.
- The applicant must be above the age of 18 and below 35 at the time of application for the loan.
- The student must be going for an undergraduate degree, postgraduate degree, or PG diploma.
- The student must have a co-applicant like a parent, guardian, or parent-in-law.
What Are The Documents Required For Student Loan Application?
- Filled up the application form with a passport size photograph of the applicant.
- 2 passport-size photographs.
- Copy of latest educational certificates.
- Statement of study course expenses.
- Aadhaar card and PAN card of the applicant and co-applicant.
- Age proof: A copy of the driving license/ Aadhaar card/ Voter ID/ passport can suffice as proof of age of the applicant.
- Residence Proof: Rental agreement or bank statement of the student or co-applicant. A copy of ration card/ Gas Book/ Electricity Bill/ Telephone Bill
- Identity Proof: A copy of the driving license/ Aadhaar card/ Voter ID/ passport can suffice as proof of residence of the applicant.
- Income Proof: Most recent bank slip of co-applicant, Six months bank statement of the borrower, Updated ITR of guardian, and documents stating liabilities and assets of applicant and co-applicant.
There are many loans in the market that can help a candidate. Student loans or personal loans for healthcare workers is an excellent way to help students get money to cover different expenses that they cannot afford. Trustworthy companies like Peerless Finance can help healthcare workers fulfill their dreams without worrying about draining their expenses.
Saptarshi Roy Bardhan