Start paying interest on study loan early

What is the maximum period of education loan and does the repayment start immediately?

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—Manjot Singh

A typical loan tenure for an education loan is seven years. The repayment by way of EMIs starts after the course has ended. In the interim, interest is applied as simple interest on the loan outstanding. You may look at paying part of the interest during the course period.

My home loan is under the MCLR system and the transmission is very slow. Is it beneficial to shift to repo rate-linked loan and how can I do it? —Vinod Gupta