A Study on Challenges Faced by Students While Availing and Repaying Education Loans in Tamil Nadu.
DOI: https://doie.org/10.10399/IJBE.2026789503
Dr. Princy A S, Jefrisha J S, Kavitha M, Jain Antro V, Gobi Krishnan R
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Keywords:
Education Loan, Higher Education, Loan Repayment, Financial Challenges, Students.
Abstract:
Higher Education in Tamil Nadu was really expensive; to afford the expenses the students seek support financially in terms of education loans in terms of educational loans. Banks and financial institutions in India play a major role in supporting students by providing education loans for their higher education. However, multiple challenges were faced by students while availing and repaying education loans. This study aims to analyse and examine the difficulties of the students in accessing and repaying education loans in Tamil Nadu. For this study primary data was collected from 108 respondents using a structured questionnaire. For this study statistical tool such as percentage analysis, mean score analysis, correlation analysis was used with the help of IBM SPSS Statistics. In findings we can know that factors such as low family income, lack of awareness about schemes, collateral requirements for loans and delay in processing mainly affects the students in accessibility of education loans. In addition, repayment challenges rise due to unemployment, financial stress and high interest rates. In Suggestion the study suggests awareness programs, simple loan procedures and government support schemes will reduce the challenges faced by students in availing and repaying education loans.