Should you be in a rush to prepay an education loan?

Arpit, 27, recently returned to work after taking a break to pursue his master's degree. With support from his parents for a significant portion of his tuition, he still needed to secure an education loan of Rs 10 lakh. Currently, his monthly loan payments stand at Rs 17,500, alongside personal expenses of Rs 25,000. This leaves him with a surplus of approximately Rs 37,500 from his monthly income of Rs 80,000.

This article was originally published on March 15, 2024.