Educational loan for abroad studies in foreign countries
Posted by dishamehta2016 on May 15th, 2017
Post-graduate students from India are increasingly choosing to study in foreign country. For Indian’s the most popular destination to study is countries like Germany, Canada, New Zealand, US, and the UK. These countries have seen a significant growth in India students in the last couple of years.
However, studying in foreign counties is not about banking a scholarship and applying there for admission and they will welcome you for studies. While applying for foreign studies, students have to show sufficient funds in the bank account to get admission and continue study. Many times the bright talents have to compromise on their dream career and opt for other studies because parents can’t afford to produce such a large corpus for their studies.
Although, there are traditional finances, gold, silver, or property mortgage ways, but they can’t pick the situational problems or take care of the urgency to ensure smooth execution of money transfer to foreign universities and other children’s need when going abroad for higher studies.
Relax! Banks and finance companies do understand students concern and have come up with an educational loan for abroad studies. These loans are a kind of credit advanced to professional scholars and students being designed to help students pay for college tuition, books, laptops, hotel fees and other living expenses. It differs from customized needs of an individual and the interest rate is often substantially lower such as 12.75% and processing fee is mere 1 to 2% of your loan amount being calculated on a case-to-case basis.
Students have to bear in mind that financing higher studies would be as good as obtaining any other commercial credit and therefore, it’s up to the bank or NBFC to sanction your application or not. They will carefully evaluate the credit worthiness of the students and the co-applicants so sanction the loan amount. So, it's advisable the joint borrowers who are parents in most cases should have a good credit that acts a plus point for getting higher loan amount.
Educational Loan For Abroad Studies is provided to Indian nationals for pursuing graduate, or other recognized course from reputed foreign universities.
The best part of innovative policies is that some private finance companies have come up with 100% funding for your students higher studies. They offer doorstep services and loans are sanctioned in minimal 4*days. The repayments of these loans don’t start on an immediate basis. You can make payment once you finish your course. You have a grace period of around six months before getting a job or one year in an attempt to search one. So, you can plan you monthly installment well in advance. It is advisable, live a sedentary lifestyle or opt for part time job to ease out your payments on an educational loan for studies abroad.
Private finance companies understand student’s aspiration and financial consideration. They always try and come up with flexible option to fund your higher studies. Some companies offer win-win referral programs that let you win rewards and bring benefits to colleagues you refer. You can register for a loan, generate referrer code, share with your friends, and you’ll get to win the rewards.
Studying abroad is quite costly and for many parents, it seems a tough job to secure admission in the foreign university. Educational loan for abroad studies is the best companion for students who at times have to leave their dream of higher studies due to extremely high costs structure. So, apply for your loan today and secure your dream career for bright tomorrow!Also See: Higher Studies, Educational Loan, Abroad Studies, Finance Companies, Studies, Students, Loan
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