We will be celebrating our 78th Independence Day on 15 August 2024. On this day, we will pay homage to our freedom fighters and also embark on the journey towards building a Viksit Bharat. With ~40% of our population under 25, our nation is poised for significant progress. Let’s find out how young Indians can be independent in a true sense and access quality education to be responsible citizens contributing to the economic, social, moral and cultural development of the nation.

Key Highlights:

• Independence Day 2024
• How can students be financially independent?
• How education loan will play a role in your independence
• How can Avanse Financial Services assist you in your academic journey?

Independence Day 2024

This day is a reminder of the importance of self-determination to achieve what’s extremely crucial, “freedom”. Our freedom is a result of the struggles of several freedom fighters, leaders, unsung heroes, and citizens. We must remember that with freedom comes responsibility. Young aspirants such as you will play a crucial role in nation-building, and quality education will fuel your journey towards personal and professional development. However, top-notch education can be heavy on pockets.

Also Read: Everything you must know about a student loan to study in the UK

How can students be financially independent?

• What is the meaning of a financially independent student?

  Being financially free can be different for each person. For some, it can be accumulating sufficient assets such as a home, investment solutions, etc. For others, it could be the financial security to never depend on others for funds. However, these days, for students, it is funding their education independently. Also, managing the money and following a budget is equally important.

• Financial advice for students

Save money

Always remember this adage: “A penny saved is a penny earned. - Benjamin Franklin.” Managing money as a student will be easy if you focus on saving more and spending judiciously. You can save money as a student with simple strategies like cooking meals at home, using student discounts, etc. Avoiding unnecessary expenses such as impulsive shopping is the best way to save money as a student.

Budget plan for students

Higher studies can be expensive, as you have to factor in several costs. Therefore, when you plan to embark on your academic journey, you must plan your budget and follow it. Creating a budget for students is essential for managing expenses and achieving financial stability. You can identify your recurring monthly expenses and fixed costs to plan your budget.

How students can earn money?

Learning how to earn money without investment for students can open up new opportunities such as part-time jobs and tutoring. For instance, if you are an IT aspirant with basic knowledge of coding language, you can take up part-time tuition to teach others.

Also Read: What students must know about education loan eligibility criteria

How education loan will play a role in your independence

Education loans are designed especially for students and can be paid in easy EMIs by the students. This will allow you to fund your education independently without depending on your parents. So, a student loan is a good choice if you believe in being Atmanirbhar.

• Here are some fantastic benefits of education loans

Quality education

You will never have to settle or compromise on your academic aspirations. You can secure a seat at your dream university without worrying about education inflation. You can leave the education inflation behind and focus on your personal and professional development.

Earn a self-made badge

You can take pride in earning a self-made badge when you fund your education without depending on anyone. Isn’t that fantastic?

A wide range of costs covered

Student loan covers a plethora of costs. This will enable you to focus on your education instead of stressing about arranging money to cover costs.

Credit score

When you repay your loan for education, it demonstrates responsible financial behaviour. This builds a healthy credit history, which can unlock several benefits when you opt for other financial products such as a home loan, car loan and credit card.

Also Read: Things every student must know about an Education Loan EMI Calculator

How can Avanse Financial Services assist you in your academic journey?

At Avanse Financial Services, we understand the significance of your academic aspirations. Therefore, we offer hyper-personalised education loans designed to meet your financial requirements. You can get several benefits such as 100% financing, quick loan sanctions, flexible repayment options and more. We offer student loans that cover the holistic cost of education, including tuition fees, travelling expenses, accommodation costs, living expenses, cost of learning devices and other education-related expenses.

So, this Independence Day, you can take the first step towards independence by opting for an education loan. With a student loan, you can unlock opportunities for growth and self-reliance while making your parents proud. If you want to understand education loan interest rates or if you have any queries, please remember we are just a call away. All the best.