The cost of education is on a constant upward trajectory, and it looks like school fees are not going to decrease anytime soon. Then how can children receive the best education without burning out all the savings? In that case, loans can help a student study without holding back on the choice of course or college. While various students are now slowly opening up to the idea of taking loans to pursue higher education. Not many of them are aware of what type of loan to choose. Basically, there are two distinct choices when it comes to funding higher education — personal loan and education loan. Let us begin by understanding the primary differences between the personal loan for education and education loan: Personal loans are unsecured loans that can be availed by the students or parents to fund education. The amount, interest, and tenure of the loan will be entirely dependent on the applicant's income, the company he/she is working with, and the past credit score. The unsecured pers