What is the repayment process for student loans?

The repayment process for student loans in India typically begins after the completion of the course, or after a certain grace period as specified in the loan agreement. The repayment period can range from 515 years, depending on the lender and the loan amount.

During the repayment period, the borrower is required to make regular payments (usually monthly) towards the loan amount. The amount of the monthly installment will depend on the loan amount, interest rate, and the repayment tenure.

There are different repayment options available such as:

1. EMI (Equated Monthly Installment): This is the most common method of repayment, where the borrower pays a fixed amount each month towards the loan.

2. Prepayment: If the borrower has the means to pay off the loan early, they can do so by making a prepayment. This can help to reduce the overall interest payable on the loan.

3. Partpayment: If the borrower is unable to make the full EMI payment for a particular month, they can make a partial payment.

It's important to note that failure to make timely payments towards the loan can result in penalties and may also affect the borrower's credit score. Therefore, it's important to plan ahead and ensure that the loan repayments are made on time.