Overcome the financial barrier for higher studies

With the rising education expenses and fees of institutions and universities many students in India face common barrier which is lack of finance. Although we believe that every student in India has a complete right to education yet many students compromise on their dreams.

Every parent want their child to get the best of education and knowledge and a well settled future but they are unable in helping them because of many factors like limited savings, insufficient income, rising prices which leads to students giving up on their goals of pursuing higher studies.

However the Study Loans in India has undergone many changes such that India has become the third largest education hub for higher studies in the world. Many students from India as well as abroad are aspiring to pursue their higher study in India since there a lot of universities and institutions in India which provide number of courses, diplomas and degrees at a comparatively lower expense. Also, these universities not only offer the mainstream courses in arts, science, commerce and management but also offer the new age courses like sports, music, motor sports, technology etc. as many students now opt for the new age courses as well.

To help students to overcome this barrier, the Indian government has come up with a number of education schemes and privileges for the aspiring students in addition to this, there are many banks and private financial companies, known as NBFC’s which extend financial assistance to student aspirants who want to pursue their higher study in India.

These NBFC’s provide customized study loan options to the students in the most convenient way. They believe students to become self-dependent and accomplish their dreams by being self-reliant. So they extend the education loans to the students at 100 percent coverage and a lower interest rate of 12.75%. They do not charge margin money from the students neither have a cap on the loan amount so the students do not have to worry about the extra burden of paying the margin money from their side. Also, once a student takes a study loan he or he/she can easily concentrate on their studies and course completion successfully since the loan covers the living expenses, tuition fees and all the other expenses that a student has to bear.

Taking an education loan might be easy but with so many bank and private firms providing numerous loan options it becomes difficult and confusing for the students to choose the right option. But these private finance companies provide a door step service and also provide good consultation for each student and help them choose the right option for themselves.

These NBFC’s look at each loan application as a unique one this is because they understand that each student has a specific need and it varies according from one student to the other so they offer tailor made study loan for both students who wish to complete their higher study in India by offering number of loan options bridge loan, fast track loans, etc.

Each loan option is designed keeping in mind all the problems that the students face while going for higher studies. An example of this would be the bridge loan which covers the expenses related to the Exam prep classes, GRE, GMAT, SAT entrance exams, cost of applications for universities, the actual course fees, the living abroad expenses, cost of books and other education related expenses. Other than this they also provide score based benefits to the meritorious students who score 300 or more in the GRE exams.

To apply for a study loan from these private firms to pursue higher study in India a student needs to be an Indian citizen and 18 years or above and submit his/her KYC and educational documents along with the collateral documents and other documents required by the private finance company. They sanction the loan in 4 days period and have easy & hassle free process which makes it convenient for each student applicant.

So, there is no need to compromise on your dreams and settle down for something you don’t want to, instead give wings to your dreams and explore the new avenues of knowledge and success for a bright future ahead.

Source: http://youknowitbaby.com/article/24170/overcome_the_financial_barrier_for_higher_studies.html

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