As the entire world gets accustomed to the reality of living with COVID-19 we also have to learn to handle the challenges that have followed. The pandemic has not only changed the way we live our lives but has also brought along personal tragedy and economic difficulty. The pandemic has also altered how we conduct daily activities, especially the education system. Students across the globe are adjusting to a new way of learning despite the stresses of the pandemic. While governments are attempting to make the situation easier for parents and students, financial aid to support education can be of great help during these difficult times.
What is a Student Loan for COVID?
In order to contain the spread of the pandemic lockdowns have been imposed in almost all countries. While this has severely impacted the economic conditions of most families, it has also affected students. Since students are unable to go to college in person, classes are being conducted virtually. This digital shift means that students now require a new set-up to attend classes. With high tuition rates, funding higher education can already be concerning as it is. However, with parents already struggling economically due to the pandemic, high fees and the expense of virtual classes can be distressing. In such circumstances financial institutions like HDFC Bank provide relief in the form of Student Loans for COVID. These Student Loans can be availed by students pursuing higher education and can serve as Education Loans for students.
The amount drawn through such COVID Student Loans can be utilised towards the payment of tuition. It is common knowledge that higher education fees are considerably high. It was not unusual to take out loans in order to fund higher education in a pre-COVID era . However, the pandemic has called for financial aid specifically designed to address problems caused due to COVID-19. Since the outbreak of the pandemic, several people have been laid off, faced cut-backs in salaries, or have had to deal with major financial setbacks. This has affected the payment of college tuition. For instance, parents looking to send their child abroad for studies are finding it difficult to shell out enough money to cover tuition costs. Even students who are self-financing their education are concerned due to the lack of employment. A COVID Student Loan can provide relief to such parents and students alike and assist them in paying off the tuition. It can also remove the strain of paying such fees and create breathing room during the economic difficulties of the pandemic.
Apart from the tuition, the pandemic has also ushered in an era of online classes. Students are now attending classes and completing their courses via online portals. These portals are used to conduct examinations and hand in assignments, all of which can have a serious impact on one’s education. In order to ensure that you are getting the best education possible it has become important to have sturdy gadgets and a quick internet connection. These additional requirements which are a result of the pandemic can be an added burden during an already expensive course. A COVID Student Loan can be put towards meeting with these expenses as well. Besides these uses, the loan amount can also take care of laboratory fees, library fees, and other costs essential to the course.
HDFC Bank has kept the consequences of the pandemic at the forefront and come up with a financial solution to make achieving your dreams easier. HDFC Bank provides Student Loans for COVID that will help you meet all your financial requirements. The Student Loan for COVID at HDFC Bank is offered at a reasonable rate of interest and covers courses conducted in various countries along with India. With a flexible tenure for repayment this COVID Student Loan can lift a huge burden off your shoulders during the pandemic. HDFC Bank also allows for online application in order to avail the loan. Their hassle-free online application process will greatly reduce your exposure to the pandemic as well.
Find out about HDFC Bank COVID Student Loans in greater detail right here.
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*Terms and conditions apply. Student Loan at the sole discretion of HDFC Bank limited. Loan disbursal is subject to documentation and verification as per Banks requirement.