FINANCING your child's dream is tough job. But, today, there are some smart ways to finance your child's education and make his dream a reality.

Take education loan
Banks offer education loan to students. However, the loan amount depends on which course you want to pursue and the geographical location of the School/University.

Pros: Education loans have an initial moratorium till the child secures a job. Some offer the facility to start repayment after a pre-specified period from the completion of the course.

Flipside: is that these loans come with the risk of interest rates.

Some banks that offer study loans

Andhra Bank

State Bank of India

Allahabad Bank

UCO Bank

Bank of India

HDFC Bank

Floating interest rates! What's that?
Commonly, education loans are offered with floating interest rates. Floating rate differs from bank to bank. The thing about floating rate is when interest rates move higher, you pay a higher Equated Monthly Installment (EMI), or the loan tenure gets extended.

Calculate: How much education loan will you get?

Read: Take a study loan

Photograph: Vipurva Parikh