Fund your foreign studies with education loan

Study loans offered by reputed non-banking finance companies are one of the best ways to fund their higher studies for meritorious students. These loans help you to fund costs of education including tuition fees, exam fees, lab and library fees, caution deposit, travel, books and equipment, projects and study tours. Because of the skyrocketing price for overseas study, it’s become imperative to take a study loan. Although, there are scholarships and grants, however, it proves insufficient against the creeping costs of higher studies each year. You cannot rely on the little savings you have as well as the scholarship, grants to fund higher education abroad. Going for traditional finance or personal loan will also burn a big hole in your pockets because they come at extremely high-interest rates. Education loan for abroad offered by private lenders are tailor-made to suit your specific needs, and it will help you take the right step towards the road to achieving your educational dreams.

Private lenders offer speedier loan approvals and come up with unique and friendly solutions such as pre-admission loan, Pre Visa Disbursement loan, score based products, 100% funding for meritorious students, wider course and country coverage, bridge up loan, etc. There are lenders who are willing to offer an unsecured loan up to Rs. 40 lakhs and with interest rates as low as 11-13% on the loan amount. Before opting for education loan for abroad, here are a few tips which will help you make an informed decision:

When a student opts for education loan, he or she needs to understand that the money borrowed is too high, and hence stick to a sedentary lifestyle, opt for part-time work to repay the interest rate during the moratorium and cut down on unwanted expenses. Lenders have a counseling session wherein students are helped to get a clear idea about their dream course, job prospects, and career options. This way they don't have to waste unnecessary time investing in the wrong options.

The cost of studying in foreign countries depends on a number of factors like the university, subject courses, and the cost of living in the country you've picked to study. These are complex factors, but when you partner with leading private finance companies, they will stand by you at every step in the way and simplify the admission process and financial hurdles so that you focus more on important things.

Since the repayment of the loan can start from six months to one year after the course completion technically you have a period of around 8-10 years for the loan repayment. It is termed as moratorium period wherein lenders wait for the kids to find a suitable job and then make comfortable repayments. There are many lenders who provide loan on the basis of score such as GRE; GATE exam scores hence, if you have a good score you can always ask for a concession in the interest rate. Women applicants are given a special concession of 0.5% on the educational loan interest rates.

Overcome your financial obstacles with education loan for abroad and build a secure future now. Talk to the lenders and find a suitable financial solution that will take you closer to fulfilling your educational dreams!

An personal loan would be the first financial help for your family in your absence.