Our Choices For The Best Education Loans for International Studies
There are two (2) general classes of education loans: standard payment & deferred payment. Traditional payment structures need students to make equal payments throughout the loan. On the other hand, first-interest (or interest-only) loans allow students to pay less in school. This is why, over the whole tenure of the loan, interest-only loans typically cost more.
Our Choices For The Best Standard Repayment Study Loans
Standard repayment education loans are a good choice for students with enough funds to make loan payments while still in school. These loans are generally more affordable over the long term than late-interest or early-interest loans. The table below highlights the cheaper education loans with standard repayment structures.
Best Interest-Only Education Loan for Studying Abroad/ Overseas
While some students will pay off their loans while studying, many will not handle the financial burden until after they finish their studies. Students who would prefer to make fewer repayments during school have “interest-only” loans that allow them only to pay interest until they’ve completed their studies. Still, this does need borrowers to pay more over the lifetime of their loans. Below are the best choices for interest-first loans for studying overseas. The table below assumes a loan of S$25,000 over a six-year tenure with a 4-year interest-only period.