Ways in which an education loan for abroad is helping students


The demand for quality education has reached its peak in today’s times. Thus, every individual is striving to reach the top by attaining a quality education. The west has established itself as an educational hub, all across the world. Thus, students from all around are traveling to the west to seek quality education and carve their names on the pedestal. But the cost of education has increased tremendously; thus, students are finding it difficult to pursue a course of their choice. However, thanks to the financial assistance provided by banks and NBFCs (non-banking financial companies), students can fulfill their educational dreams. The interest rates charged by financial institutions for an Education loan for abroad are much lower when compared with the interest rates offered by traditional financiers and loan sharks.

There are a number of ways in which an education loan is influencing a student’s decision. A few of those reasons are here as follows:

  • ·        An education loan covers all the expenses that you incur while pursuing an educational course of your choice. The numerous expenses covered by an education loan range from the cost of college fees, tuition fees, living expenses, travel expenses, etc. Education loan for abroad studies even covers other sorts of miscellaneous costs that you incur while completing your study course.


  • ·        The financial institutions have even started offering a number of discounts on interest rates. These discounts are offered to the meritorious students and women; to encourage them to pursue higher studies in an education field of their choice.



  • ·        There are a number of services offered by financial institutions such as pre-visa disbursement, proof of funds, etc. These certificates will help you with your visa sanctioning and admission for abroad studies.



  • ·        The collateral required to avail an Education loans for Studying Abroad is on the basis of the quantum of the loan amount and primary borrower’s credit history. This collateral can be any of your residential properties, non-agricultural land, life insurance policy, fixed deposit, etc.


  • ·        Study Loans helps you to fund your own education. Thus, you don’t have to depend on anyone else for capital assistance. An education loan also helps you to lessen the burden on your family; because, more than often, our parents gamble on their own future to secure yours’.


The eligibility criteria to avail an education loan are:

  • ·        You need to be an Indian citizen in the age group of 18 to 35 years (for a few financial institutions).


  • ·        There must be a co-borrower willing to co-sign the loan amount. He or she shall be the primary debtor and could be any of your family members. The financial institutions also scrutinize co-borrower’s credit history, score, and income.


  • ·        Your education background, education course and the country in which you are going to study also determine your eligibility criteria.


  • ·        Make sure that you have qualified all the pre-requisite examinations and have procured a letter of confirmation.


·        Click here to know more about the Eligibility Criteria.

These are the ways in which Study Loans is helping students. Hope this article will help you and encourage you to fulfill your dreams of obtaining higher education.


Study Loans For Abroad


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