Education loan smartly decrease

DrVivek

KF Rookie
I was having education loan of 32 lakhs at the time of 2020 when I took it then now after completing the studies and getting moratorium period of 6 months it is 40 lakhs now.. I paid of 13 lacks now and for now the loan amount is 27 lacs I already have home loan of 17 lakh rupees and I am now earning one lakh rupees I want to know how can I manage so that I can pay the loans easily and along with claiming the income tax benefits please give me advice so that it can helpful for others also..also is it a good advice to put a lumpsum amount into the education loan rather than putting it into a mutual fund please advise me .
 

zacobite

KF Mentor
I was having education loan of 32 lakhs at the time of 2020 when I took it then now after completing the studies and getting moratorium period of 6 months it is 40 lakhs now.. I paid of 13 lacks now and for now the loan amount is 27 lacs I already have home loan of 17 lakh rupees and I am now earning one lakh rupees I want to know how can I manage so that I can pay the loans easily and along with claiming the income tax benefits please give me advice so that it can helpful for others also..also is it a good advice to put a lumpsum amount into the education loan rather than putting it into a mutual fund please advise me .
adjust emi to the amount that saves u tax.. get out of the loan as soon as possible.. no point in putting into MF if u hve a 11.5 % loan.. clear loan first.. start small in mfs for now
 
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