# Education Loans in India & Abroad Guide

## Key Overview
- **Summary**: An education loan helps you finance higher studies in India or abroad. Banks typically cover tuition fees, hostel charges, exam fees, and other study-related expenses. The loan is given directly to the student, with a parent or guardian as co-applicant. Repayment usually begins after you complete your course, with a grace period of 6-12 months to find employment.
- **Collateral Limits**: Up to ₹7.5 Lakhs collateral-free under the CGFSEL scheme.
- **Moratorium Period**: Course duration + 6 months to 1 year before principal repayment starts.
- **Tax Benefit**: Section 129 (formerly 80E) provides 100% deduction on interest paid for up to 8 assessment years (no upper cap).
- **Central Sector Interest Subsidy (CSIS)**: 100% interest subsidy during the moratorium period for students with parental income up to ₹4.5 LPA studying in India.