New Delhi, April 23 -- As the academic year comes to a close, senior graders across the nation are finalising their higher education plans, whether they are looking at options to study further within the country or overseas. An important consideration here is the cost of education. For many families, education loans become a crucial tool in bridging the financial gap between the aspiration of students and the paying capacity of parents. However, a crucial aspect that often gets overlooked is the potential for tax savings associated with education loans.

The latest episode of Mint Money Shots, presented by Invesco Mutual Fund, saw Deputy Editor at Mint, Neil Borate, decode the tax benefits of study loans. "The entire interest component of...