Education loans are eligible for tax benefits under Section 80E of the Income Tax Act in India, where the interest paid on the loan can be claimed as a deduction. This helps reduce the financial burden on families and encourages more students to opt for loans rather than liquidating investments or taking personal loans for education.
Students must plan their finances in advance, considering exchange rates, inflation, and unexpected expenses. A well-structured education loan ensures uninterrupted studies and peace of mind while enabling students to focus on academics and career opportunities in Canada. Loan counselors and study-abroad advisors can help students choose the best financing options based on their academic goals and financial background.