So, your daughter has just secured admission into a reputed university in the US and your next challenge is how you are going to finance this massive expenditure. There are recognized banks and financial institutions or even charitable institutions that give loans to help students pursue studies abroad. What is more, the servicing of the loan (interest paid on the education loan) also offers you tax exemption under Section 80E of the Income Tax Act. The education loan tax exemption is a major attraction of taking loans to finance your higher education. You can understand how to get tax exemption for education loan with the help of this very simple Education Loan tax exemption calculator. Check out this calculator below..
