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What is Covered by Education Loans?
Loans are a type of financial aid that helps students pay for tuition fees, living expenses, and other educational expenses. Banks and financial institutions in Nepal usually offer these loans. Education loans in Nepal are designed to cover various expenses related to a student's education. Typical content is:
Tuition Fee: This is the main expense covered by the education loan. Covers tuition fees for your chosen course of study.
Travel Expenses: If your education requires travel expenses, especially for studying abroad, this loan can cover your airfare and other travel-related expenses.
Living Expenses: This includes the cost of basic needs such as food, accommodation, and daily living expenses while studying abroad, especially when you are away from home.
Financial Services: These loans often cover the cost of financial services necessary for your education, Creation of direct debit, wire transfer, traveler's checks, and currency exchange for international students.
Laptop and Materials: A Education Loan can also provide you with a specific amount of money to purchase a laptop or other materials essential to your course.
It is important to check with your relevant lender for detailed coverage and limitations of these costs. Different banks and financial institutions may have different policies regarding educational loan coverage.
