answersLogoWhite

0


Best Answer

One drawback of taking a student loan is that it is a lot of money to borrow. Another is that you are placing yourself in long term debt. There could also be long term issues actually receiving your student loans.

User Avatar

Wiki User

10y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: What are some drawbacks of getting an education loan?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

What are the drawbacks of getting an investment loan?

One drawback of getting a loan is the processing cost. Some borrowers find fees involved with the loan modification. Also, a borrower can be liable to pay income taxes. Before taking out a loan, making sure that payments can be made is very crucial. The lender can begin foreclosure proceedings if they're not convinced of the borrowers ability to make long-term payments.


What are some drawbacks of being a mammalogist?

what are some drawbacks of mammaloligy


What are some drawbacks for choosing and or recycling?

what are some major drawbacks for choosing and or recycling paper?


Can I cancel my business loan request before getting the funds?

Yes you can, but you have give some charges.


What are some of the drawbacks of male plastic surgery?

The drawbacks or disadvantages of plastic surgery are the same for both males and females. There are always the chances of one getting an infection, slow healing, complications or imperfect results.


Can you get a loan on your ssi?

You usually cannot get a loan on your SSI, though some payday loan companies may allow it. You can use it as your income source for the purpose of getting a loan.


What are the benefits and drawbacks of an Airforce Pilot?

some benefits are you can keep gear and some drawbacks is its dangerous


What are the benefits and drawbacks of animal exploitation?

some drawbacks of animal research


What are some drawbacks of hydroelectricity?

# #


What are some of the drawbacks of using a bad credit lender?

Using a bad credit lender, such as a payday loan service, can result in paying huge interest charges. To get a payday loan, you pay a small charge in interest. If you cannot pay the loan back in time, the small charge can grow into a large charge.


What is a education loan?

In the current economic situation, it is very difficult to fund education. Due to funding problems, many meritorious students have to quit their education. So, taking an education loan can help them in coming out of crisis and fulfill their educational dreams by giving them the much needed financial support for pursuing higher professional or technical education in India and abroad. Education loan is a loan granted to Individuals for pursuing higher education in India or abroad where admission has been secured in some career oriented course like medicine, engineering, management etc. for graduate or post graduate level. Education loan is disbursed in full or in installments depending upon the requirement of funds and are directly transferred by the Bank to the educational institution. The amount of loan granted, the interest expenditure and the processing fees differ from bank to bank.


What were the drawbacks of the Anaconda plan?

The drawbacks of the plan was that it would take some time to become effective.