Just thought acting would be something to help out with my student loans, but my first year as an actress, I made more money than my parents. That's when I realized it could turn into a career. After that, I put everything I had into it.
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The size of the Indian education industry is pegged at Rs 3,833.1 billion in 2012-13 by CARE Ratings, of which higher education is estimated to contribute nearly 60 per cent. Under priority sector guidelines of the RBI, banks can give up to Rs 10 lakh to students for studies in India and Rs 20 lakh for courses abroad.
An added bonus for students is that education loans are collateral free up to Rs 4 lakh. Under the new education scheme, for loans between Rs 4 lakh and Rs 7.5 lakh, parents have to be a joint borrower and collateral is just in the form of a third party guarantee. For loans above the amount, physical collateral has to be provided.