Higher education is very costly these days and onus lies on an individual to plan the same for his children to be able to fund it at appropriate time. However all those who can not afford the same can go for an educational loan which will fund your children education as well as will provide you with income tax rebate.
Deduction on interest paid on education loan for higher education can be claimed under Section 80E.
- It can be claimed for yourself or for your spouse or children. Spouse can be Husband or Wife depending on the person who is availing the loan.
- There is no upper limit for claiming deduction.
Make use of this facility and get your child education financed at a lower interest rate as well as get income tax rebate too. You can check HDFC education Loan here.
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