What if you can not pay your Student Loan EMI in time ?

This is the question that come in the minds of the Student Loan debters who can not manage to pay their EMI.

But
here is a good news for you, just relax and you don't need to worry.
Becuase
if you can not pay your EMI, banks will not follow you because they have many obligation to ask the customer for non payment.
Banks representatives can not force you for payment.
If you will not pay many student loan EMIs, they may finally go to court but they can not do something illeagally.
If you have missed a couple of Student Loan EMIs you don't need to worry. Just relax and enjoy.

Student Loan Repayment Schedule - Deciding EMI

After getting a student loan an important thing is to manage Student Loan Repayment Schedule. It is an important for a borower. You have to think about you income and all your expenditures.

Most of the loan companies offer you to decide the EMI of your choice. So you can decide by yourself how much you can pay monthly.

Some poeple plan their Repayment of Student Loan in such a way it will finish as soon as possible but some poeple want to pay EMI of Student Loan as low as possible.

We suggest you to set your EMI of Repayment of Student Loan a the lowest possible level. It will expand your loan to a higher period of time but it will not be a burden on your income.

How to Get Emergency Student Loan

If you need an emergency student loan to pay your college or university fee or you have to pay your student accomodation bill. You should apply for quick student loan.

This is very easy to get, almost all the loan offering companies offer quick student loans within hours.

You just have to go to the Student Loan Company office and show them your identity card and student card and they can possibly offer you loan within hours. You will not have to go to their office again and again and you will have your money in a few hours.

So you can get an Emergency Student Loan within one day to pay your university or college fees.

Compare Student Loan Rates

If you are going to get a Student Loan, it is a very good idea to compare the offers of different companies. almost all the student loan offering companies have their own separate policies so you should get complete information about their policies and compare with each other.

Compare the monthly installments and mark up rates and also see other policies for loan settlement and deferement.
If you have an idea that you may pay off the student loan before time, you should ask policies for student loan clearance.

Clearing Student Loan

It is best idea if you can pay off student loan, do it as soon as possible. It will save your money that you will pay as interest. There could be some conditions of student loan clearance.


There could be a restriction for certain time period in the starting of Student Loan that you can not settle your student loan in initial one or two years. All companies do not have this restriction.

Some companies offer cancellation of all remaining installments and interest on clearance.

Some companies have condition to pay some extra charges regardless of remaining installments and ammount being paid.

Some companies also offer partial pay off student loan.

So do not be late and contact your bank quickly.

How to Pay Off Student Loan

It is best idea if you can pay off student loan, do it as soon as possible. It will save your money that you will pay as interest. There could be some conditions of student loan clearance.

There could be a restriction for certain time period in the starting of Student Loan that you can not settle your student loan in initial one or two years. All companies do not have this restriction.

Some companies offer cancellation of all remaining installments and interest on clearance.
Some companies have condition to pay some extra charges regardless of remaining installments and ammount being paid.

Some companies also offer partial pay off student loan.

So do not be late and contact your bank quickly.

Renew Student Loan

If you want to renew student loan, you have two options,
First, you can negotiate to your loan provider for renewal of student loan, they will reschedule your loan so that you could maintain it easily, most of the companies offer Student Loan rescheduling.
Secondly, you can consult with another student loan company for a second student loan. Some companies offer student loan to students with bad credit history. You can manage your first loan with this second loan.
I suggest you to try maximum for the first option because for second student loan with bad credit history, you will have to pay doulbe interest.