PROCESSING FEE FOR EDUCATION LOAN
There are certain kinds of charges that you need to pay while applying for an education loan like
* Document preparation fees
* Title search fees
* Cost occurred on lawyers
* Cost for general validation and verification
* Underwriting costs
After analyzing the total cost of your education, if the reimbursements are more then your family savings and neither you are capable to crack any scholarship test, then you can apply for a loan.
Analysing the total cost
It is very important to analyze all the direct and indirect expenses that are will occur on your education. The correct interpretation will help you to raise an appropriate amount of loan for your education.
DIRECT COST
* Direct cost is major amount of money that a student has to spend on his studies. It includes the tuition fees, other fees like maintenance charges and computer charges and the hostel expenses.
INDIRECT COST
* Indirect cost includes of the daily expenses that are equally important as direct expenses. The money spent on books and transportation comes under indirect cost. You can also add your cell phone bill and private tuition fees, as they are some of the essential personal expenses.
