India produces more than 300,000 management graduates every year, per AICTE data. Master of Business Administration MBA) is one of the most sought-after education programmes in the country. A degree from a good institute can land you a dream job with good perks and hefty packages, taking away a lot of future financial uncertainties. However, it comes at a cost.
The average fee for a two-year management programme from an IIM Indian Institute of Management) is around 25 lakh; it was 12 lakh in 2012-14. You or your parents may have savings, but given the galloping fees of B-schools, it might fall short. And if finances are not planned properly, the chances of getting an MBA degree from a coveted institute are slim. In such a situation, instead of emptying out your savings, it is prudent to look at other options to fund your management studies.
COURSE OF ACTION
An education loan is one option. It not only bridges the gap between your available savings and the actual amount required, but also provides funds at low interest rates, along with the benefit of tax deduction on interest under section 80E of the Income Tax Act. Also, there is a deferred payment facility available for students along with a concession of 0.5 per cent on interest for girls taking education loans.
Diese Geschichte stammt aus der November 13, 2022-Ausgabe von Business Today India.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der November 13, 2022-Ausgabe von Business Today India.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
"Inaction is worse than mistakes"
What was the problem you were grappling with?
TEEING OFF WITH TITANS
BUSINESS TODAY GOLF RESUMES ITS STORIED JOURNEY WITH THE 2024-25 SEASON OPENER IN DELHI-NCR. THERE ARE SIX MORE CITIES TO COME
AI FOOT FORWARD
THE WHO'S WHO OF THE AI WORLD GATHERED AT THE TAJ MAHAL PALACE IN MUMBAI TO DELIBERATE THE TRANSFORMATIVE IMPACT OF AI ON INNOVATION, INDUSTRIES, AND EVERYDAY LIFE.
Decolonising the Walls
ART START-UP MAAZI MERCHANT IS ON A MISSION TO BRING INDIA'S FORGOTTEN ART BACK HOME
"I'm bringing Kotak under one narrative, one strategy, one umbrella”
Ashok Vaswani is a global banker who spent most of his career overseas at institutions like Citi Group and Barclays, among others.
CHOOSING THE CHAMPIONS
The insights and methodology behind the BT-KPMG India's Best Banks and NBFCs Survey 2023-24.
'INDIA IS AT AN EXTREMELY SWEET SPOT'
The jury members of the BT-KPMG Survey of India's Best Banks and NBFCs discuss developments in the banking sector and more
FROM CRISIS TO TRIUMPH
Dinesh Kumar Khara stewarded SBI through multiple challenges during his tenure, while ensuring that profits tripled, productivity soared, and the bank consolidated its global standing
AT A CROSSROADS
BANKS ARE FACING CHALLENGES ON BOTH SIDES OF THE BALANCE SHEET-ASSETS AS WELL AS LIABILITIES-WHICH ARE PUTTING PRESSURE ON MARGINS.
EXPANSIVE VISION
Bajaj Finance, an outlier in terms of digitisation, faces stiff competition. But it continues to expand its reach