Disclaimer: This Story is of information purpose and not any financial advise, please check concerned bank site for more details.
Compare Rate of Interest of all the options you have. Get in detail as much as possible
You may need loan for other expenses like laptop, etc apart from Course fee, so do consider this while availing the education loan.
You may need some buffer time to payback your loan incase you dont get a job after completing the course, get those things clear before oping for an education loan.
Loan upto amount of Rs 4 Lakh you dont need to pay a margin money. Above Rs 4 Lakh loan amount you may need to pay 5% to 15% of the couse fee. So calculate everything accordingly.
You can avail tax benefits for the EMI you will be paying in the future. Under 80E you can get the tax benefit.
For an amount of Rs 4 to 7.5 Lakh generally banks do not require collateral. However you may need to provide collateral above Rs 7.5 Lakh depending on the banks. Check this with the bank.