Education loan planner
Plan the full picture — total cost, how much to borrow, your EMI, affordability, tax savings and a complete amortization report.
Cost & funding
Loan terms
Study + grace period — interest accrues and is capitalised.
Affordability & tax
Your EMI
Principal
₹20,00,000
Interest
₹10,06,639
Total payable
33% interest₹30,06,639
Affordability
Your monthly outflow of ₹35,793 is 51% of your expected income.
Lenders prefer this under 40–50%.
Your complete loan analytics
Funding, tax savings, prepayment impact and a full year-by-year amortization — all update live.
Self-funded share
20%
₹5,00,000 of ₹25,00,000
Tax saved (80E)
₹3,01,992
at 30% on interest
Interest saved (prepay)
₹0
add a prepayment
Effective cost of study
₹32,04,647
cost + interest − tax saved
Outstanding balance over time
Yearly principal vs interest
Year-wise amortization schedule
| Year | Principal | Interest | Balance | Paid |
|---|---|---|---|---|
| Year 1 | ₹2,31,372 | ₹1,98,148 | ₹19,58,628 | 11% |
| Year 2 | ₹2,54,335 | ₹1,75,185 | ₹17,04,293 | 22% |
| Year 3 | ₹2,79,577 | ₹1,49,942 | ₹14,24,715 | 35% |
| Year 4 | ₹3,07,325 | ₹1,22,195 | ₹11,17,391 | 49% |
| Year 5 | ₹3,37,826 | ₹91,694 | ₹7,79,565 | 64% |
| Year 6 | ₹3,71,354 | ₹58,165 | ₹4,08,210 | 81% |
| Year 7 | ₹4,08,210 | ₹21,309 | ₹0 | 100% |
Estimates for planning only. Section 80E allows deduction of the full interest paid for up to 8 years; actual rates, eligibility and tax benefits vary by lender and your tax regime.
Understanding education loans
Key features
- • Covers tuition, accommodation, books & other expenses
- • Moratorium = course duration + 6 months
- • Full interest deductible under Section 80E (up to 8 years)
- • No prepayment penalties in most cases
Documents required
- • Admission letter from university
- • Fee structure and cost estimates
- • Income proof of parents/guardians
- • Collateral documents (for secured loans)