How much loan can I get for studying in UK?

 Education loans for the UK are readily available from among all the 16 lenders at Edu loans. The UK has always been a popular destination to study among Indian students due to its world class facilities, huge range of courses, and a global immersive experience. With the advent of two years work permit, there are many lenders who are providing unsecured education loans for the UK. Let's look at all the options for loan for study abroad in the UK.

Secured loans – All financial institutions would provide secured loans in case the student is looking to study masters or bachelors in the UK. Short-term courses are not eligible for education loans for the UK. The amount of the loan can be between 80% to hundred percent of the collateral value. The collateral could be in the form of property which includes residential flat, commercial Gallagh, Commercial shop etc. The collateral cannot be agricultural land. To avail Loan for study abroad all property documents have to be in order. The maximum secured loan is provided by SBI at 1.5 CR.

Unsecured loan for UK – In case the student is looking to go to top MBA schools such as London business school, London school of economics, Cambridge University, Oxford university etc you would have international funds such as Prodigy and Mpower providing unsecured and non-cosigner loans. Private banks such as ICICI and Axis Bank provide unsecured loans for top institutions such as Oxford University, Cambridge University, University of London etc. They provide loans for masters and MBA programmes but would require a valid cosigner. The amount of education loan for the UK ranges between 15 to 20 lakhs for private banks. Non Banking financial corporations also provide unsecured loans for UCAS parents. They base their loan mainly on parental income and good quality admission. Loan for study abroad in the UK is comparatively more expensive than for the USA. Average interest rate ranges between 11% to 14% for an unsecured loan. NBFCs also do provide up to a maximum value of 25,00,000 for an unsecured loan.

The application process for education loans for the UK is similar to any other country. Students would need to have an unconditional admit from the university, parents need to provide two years IT returns with good Cibil score to avail unsecured loan for study abroad. In most of the cases directly MIs are given which means that the interest payment for an unsecured loan would start immediately. In case you're looking at a secured loan for the UK you can look to have an interest moratorium from banks such as State bank of India and bank of Baroda during the study period.

Eduloans will provide the perfect unbiased comparison to help you with financial studies for the UK. We are in constant touch with all the lenders and know the practical interest rates and eligibility criteria for secured and unsecured loan for study abroad. Please connect with us and we would be happy to help you for an education loan for you at www.eduloans.org. 

Can international student get student loan in New Zealand?

 Study loan for New Zealand has come across as the most important query among banks offering education loan abroad. There are several universities in New Zealand, while the well-known ones are eight in number. All these universities offer a top-notch, internationally recognized knowledge base and education across diverse sectors. In the past few years, New Zealand universities have started attracting more attention among international students of different cultures and backgrounds. What makes New Zealand a favourable study abroad destination is its comparatively lower cost of living, while offering reasonably par excellence education. Per se the location comes with its own scenic beauty and safety of citizens along with international students, which makes it A-rated among students.

Cost of studying in New Zealand

Like any other college in a different country, New Zealand universities require you to pay tuition fee, hostel fee, and costs of books. There can be additional costs that are applicable to each college or university. You must check this with your education counsellor. The tuition fee and structure may also vary from college to college but all gets covered under study loan for New Zealand. Generally, bachelor’s course in New Zealand runs anywhere between $11,000 to $23,000 (US Dollars). This will largely depend upon your area of specialization. The cost of specialized degrees could be more or may be less, depending on which stream you choose. Here are some common ones-

1.       Bachelor’s degree in Veterinary Science- $19,000 to $40,000 (NZ Dollars)

2.       Bachelor’s degree in Law- $17,500 to $36,000 NZ Dollars)

3.       Medical degree- $35,000 to $50,000 (NZ Dollars)

4.       MBA - $17,000 to $50,000 (NZ Dollars)

To manage this high cost of education in New Zealand, students opt for study loan for New Zealand. Apart from that, prominent costs also involve a student visa. Comparatively, student visa in New Zealand is cheaper than the U.S. or Canada. All banks and Financial Institutions offer study loans for s New Zealand. However, the embassy only accepts loan Sanction letter of Nationalised Banks. In case the student is looking at Study loan for New Zealand mostly he/ she would have to provide Collateral for his studies abroad. One thing is positive that banks / Financial institutions do not differentiate interest and principle based on STEM/ NON STEM as stay back for all kind of courses is similar in New Zealand.

Eduloans offers quick and easy education loan for study abroad processes to all students willing to go abroad for education. Dedicated professional education experts available for students counseling makes it simpler to process loan application altogether. We would be understanding your eligibility and guiding you on the best education loan option abroad. We as well would look at your requirements from the VISA angle and look at various financing options for study loan for New Zealand.

5 Fast Ways to Get Help Paying Your College Tuition

Study abroad education loan is an excellent way to fund your education while you wish to study abroad and live there. But with such an enormous amount of cost of living at a foreign location, paying off tuition fee and other things, everything becomes a little overwhelming. Add to it the fact that the interest rate on education loan to study abroad is high, whether you are taking an overseas education loan from a private bank, public bank or NBFC. In case you have maxed out on the education loan, and are looking for other ways to get help paying your college tuition fee apart from loan, here is what you need to know:

Grants

When you fill out forms and get accepted in the college or university of your choice, you are also supposed to fill out your income. This comes in handy when you are asking for grants from federal sources and others. States, colleges and governments give you financial aid if you are economically weaker. The college considers how much your family can pay off, and can help the rest with grants.

Asking financial assistance from your college

You can also write a letter or request your college to loan you some more money or concession, whatever is applicable, depending upon your financial status. Apart from the study abroad education loan, you can also request your college to loan you some money. You can also look at Merit-based scholarships to fund your study to these colleges.

Part-time jobs

Getting part-time jobs while you are still studying is an excellent way to fund your college tuition. This is of course a kind of top-up beyond your education loan to study abroad. Undergraduate students can get hourly wages. In case you aren’t eligible for working, you can search for online jobs, such as writing or designing. In general, all countries allow students to work 10/20 Hrs a week where they are able to make enough to take out their daily expenses.

Private scholarships

There are a lot of organizations that specifically provide financial assistance to pay your college tuition. Private scholarships are beyond your education loan to study abroad. EduLoans can offer you, mentors, to suggest fast ways to pay your college tuition. Additionally, EduLoans can help with finding the most suitable private scholarship for you.

Private loans

If formal study abroad education loan does not suffice your financial needs and you are looking for additional funds, you can look for not-for-profit sources that can lend you money with some additional benefits. Private education loan to study abroad are readily available and flexible. You can look at an education loan to study abroad with or without Collateral. You can as well look at international funds who offer loans purely based on your college admits .

EduLoans mentors can help you find the best solutions

A dedicated team of experts at EduLoans helps with study abroad education loan. Our financial advisors can assist you personally with tailor-made solutions and getting you all the resources you need to explore ways to get help paying your college tuition. These are some of the best ways to fund your education. At EduLoans we also have a dedicated team that allows you to find scholarships and top-up of loans, or refinancing and consolidation options apart from education loan to study abroad. You may get in touch with us by sending in your query on our website  - www.eduloans.org.

Can an international student get a loan for study for Australia?

 Australia is often commonly described as the powerhouse of global education and is known for some of the finest and bet educators. International students looking for quality education often choose Australia s their preferred destination because it houses some of the finest and top-rated universities of the world. There are over 100 institutes and universities in Australia and more than 5,000 courses. Study loans for Australia help students in cherishing their dream career and life. The purpose of finest education and high-quality education is sufficed in Australia, where students get creativity, innovation and independence through the core Australian syllabus.

Education loan to study abroad in Australia is made available to all students in India who have citizenship of this country. The Student needs the following criteria for education loan to Study abroad

·         Student Profile -  The Student needs to secure admission full time into a credible/ approved University to avail study loans for Australia. The Financial lenders as well see previous academic profile to ascertain eligibility for the loan

·         Parent / Co-signor Profile -  All lenders require co-signor’s for Australia. The Parents should have at least last 2 years IT returns and a strong CIBIL score to avail study loans Australia.

·         Collateral Security -  Majority of the Banks and NBFC would require you to provide a security for the Education loan being availed.

Students seeking study loans australia can reach out to EduLoans’ dedicated loan relationship managers who can provide a comprehensive guide and assistance with personalized attention to each student. With EduLoans, students get faster loan processing and help on negotiations for rate of interest and processing fees.

Applying for education loan to study abroad helps parents and students in preparing for education in one of the top rated and preferred country. For Australia for VISA purpose NBFC lenders like HDFC Credila, Avanse etc are not approved. So we cannot have a sanction letter from them showing the proof of funds. In general cases the entire amount of loan is disbursed and then shown for around 3 months. Sanction letter with partial disbursement of first semester fees for education loan to study abroad is valid for SBI, BOB, ICICI and Axis

EduLoans’ completely integrated system provides student-friendly and hassle-free education loan to study abroad in Australia. The least remittance / forex charges from your loan provider is made available through EduLoans. With overseas study loans Australia, students tend to enjoy a great career and a well-settled life. Job opportunities in Australia are in abundance and the choice of institutes can go a long way in helping you with a faster loan application and processing. Of course, the choice of course is also important. Nevertheless, education loan to study abroad in Australia are easily available to students willing to go there and study with a great living standard.

How can I get education loan for studying abroad?

 How much cost you would incur on your education while living and studying abroad, depends largely on a few factors. These include the location, duration of course, and the type of education program you choose. While being determined to study abroad is an excellent thing, a student must also consider all possible resources to fund his/her financial expenses. A chunk of expenses go towards the tuition fee, followed by hostel fee. Miscellaneous expenses come thereafter. Education loan in India for study abroad can be enough to financially aid all your expenses, including the cost of travel, stay and insurance. There are private financial companies as well as public sector or government banks which offer excellent study loan for abroad to students. The sole purpose of these education loans is to help deserving and qualified students in cherishing their career goals. The education loan in India for study abroad helps worthy students in accomplishing their future endeavours.

Getting study loan for abroad

In order to be successfully granted an admission into the university, you must fulfil all financial obligations demanded by the university you have sought admission. Proof of your financial status is also essential in the visa process. Therefore, it is must that a student must apply for the education loan in India for study abroad immediately after receiving an unconditional offer letter or the letter of admission or acceptance to the university of their choice. The banks as well as private institutions might take some time for loan disbursement, which is why, you must have a breathing space and time so as not to panic in the last minute.

Eduloans: your one-stop solution to study loan for abroad

Eduloans helps you with all information that is required for applying and receiving education loan. Our loan experts help you with following information-

·         Getting a list of nationalised banks offering education loan in India for study abroad and the Eligibility

·         Getting a list of private banks and NBFCs offering study loan for abroad and the Eligibility

·         List of documents required for documentation of the overseas education loan application

·         Choosing the most suitable lender for your purpose based on Eligibility, Cost and Convenience

·         Dedicated Loan Guidance counsellor who would provide you all the Information as well as advice for procedure

·         We would help thorough communication with financial institution and banks

Loan advisors at Eduloans help you with the entire process from the scratch.

Course Eligibility

·         For undergraduate courses (graduation)- technical or job-oriented professional courses by reputed institutions and universities.

·         For post-graduate courses- diploma, MS, MBA, and MCA.

·         All these courses must be from foreign institutes or universities that are state/central government approved.

·         Banks do not generally fund Pathway programs, Undergraduate Diploma or short-term courses.

Student Eligibility

In order to avail study loan for abroad, a student must suffice following criterion-

·         Must be an Indian citizen.

·         Must have a strong education base and academic record.

·         Must seek admission to a course with strong job prospects and stay back options in the Country.

·         Must present to the bank, an unconditional letter of admission to the university.

·         Must be 18 years or above, or his/her parents could avail the loan.

With all these conditions, students can get education loan for studying abroad in the university or institution of their choice.

 

Study Abroad- Experience International Learning Standards

 Anyone given a chance to study abroad will pounce on the opportunity and skedaddle in the first go. Studying abroad can bring a rich dimension to your life. If you have been dawdling in the light of the pandemic, let us make it clear that in fact, COVID has become a great opportunity for people to get on this study abroad bandwagon and add richness to their life’s and career’s experience. In fact, of late, loan for study abroad has been gaining popularity. While people are being laid off from their jobs, no one wants to discombobulate their employers as to why there remained a hole on the resume. For this reason, education loan to study abroad is an ideal choice right now, at least to justify this gap and add rich international learning experience to your profile. Here is how studying abroad can add measurement to your resume and profile.

Immaculate resume is good for your career

It goes down well for all employers if they see an international degree on your resume. It shows that you are equipped enough to deal with people from varied cultures and backgrounds. It reinstates your adaptability and shows to your employer that in fact, you are a decent enough graduate or post-graduate with additional picked-up skills.

Air-brush your language

French and German have become common languages taught at school these days, but no one remembers them. With education loan to study abroad, you can go to foreign countries, learned their language and pick up their slangs. It’s an excellent way to bring some assortment to your profile and personality.

It’s not your regular foreign trip

If you are under an impression that studying abroad is like holidaying and you can dwale at your whims and fancies, we are sorry to burst your bubble. Let’s be honest here. Staying abroad, getting your education loan to study abroad is completely different. You would be like that whippersnapper who would actually live like a local. It would be your golden opportunity to pick a plethora of knowledge and culture from the local living, avoiding all twaddle of regular tourism.

Learn differently than you’ve been doing all your life

Getting your loan for study abroad sanctioned is just a small part of the entire life-changing experience, yet an important one. The initial homesickness and dysphoria will soon vanish once you’re ready to come out of your comfort zone and learn and study differently. It may be arduous for some, but it’s totally worth it!

Anyone who has studied abroad and decides to come back to serve their own country brings a riveting and enriching experience along. While staying and studying abroad could be absolutely exhilarating, it could also be despondent for some. Yet, the ones who decide to break the monotony of their life and add lushness to their career and entire life, choose to study abroad and gain enough experience with international learning standards.

Eduloans doesn’t believe in loitering with its clients. When you raise your query with us, we help you sort things out once and clearly. We are a bridge between borrowers and banks. We help you narrow down your choices with comparable figures and the most competitive loan for study abroad. We provide you the most suited loan for study abroad based on your eligibility, cost and convenience.

What is Credila education loan? - credila education loan, loan for study abroad

 HDFC provides loan for study abroad to students through its NBFC arm, HDFC Credila. Over the time, Credila education loan has come to be known for its own set of credibility and repute. It is one of the most favoured non-banking financial company with great features and benefits. What is Credila education loan? How can you have it? This blog answers all your questions in a nutshell.

Features and Details of HDFC Credila loan for study abroad

The table below gives you all features and details about HDFC Credila education loan.

Features	Credila education loan details
Education Loan Amount	Minimum Loan Amount - INR 1 Lakh Maximum Loan Amount- INR 40 lakhs (can go up to Rs. 1 crore in certain cases)
Interest Rate	11% to 12.5%
Processing Fee	1 % to 1.25% of study loan for abroad amount
Margin Money	Nil
Loan Tenure	Up to 10 years
Prepayment Charges	Nil
Repayment Holiday	Only interest amount to be paid during moratorium period; EMI begins after course completion+6 months
Processing Time	Within a week after documentation completion
Payments During Study Period	Simple Interest
Countries Covered	UK, US, Australia, Singapore, Canada, Dubai, Ireland, Germany, France and more.

 

HDFC Credila is one of those NBFCs which offers 100% finance with all kinds of expenses. Whatever you need for your study abroad plan, is most likely to be covered and included in the Credila education loan. Credila education loan was the pioneer in the industry looking at the student profile as the main benchmark for providing a loan. They were the first one to provide loan for study abroad based on GPA, Test Scores, Course, University and Country.

The best part about this overseas education loan from HDFC Credila is that it sanctions and clears your amount before the admission letter. Pre-sanctioning of loan amount allows students to go through faster, smoother and easier visa processing too. They are very strong for a STEM focused US bound student. They are the only NBFC to get the 80E tax certificate where parents can claim tax rebate on the interest paid for the year for availing HDFC credila study abroad loan.

Credila education loan disbursement process

In following steps, HDFC Credila clears your loan for study abroad-

·         Paying origination fee

·         Date of disbursement

·         Disbursement amount

·         Disbursement details

·         Final loan agreement documentation

·         ECS from bank

·         Amount transferred to bank account

Rate of Interest for Credila education loan

Among the most important factors to be considered before finalizing the bank or NBFC from which you intend to claim loan amount, is the interest rate. This is the single most important factors among others.

Here is the detailed interest rate for Credila education loan.

Features	Credila education loan by HDFC
Max Loan Amount	Rs. 40 lakhs (can go up to Rs. 1 crore in certain cases)
Interest Rates	11% to 12.5%
Margin requirement (by student/family)	Nil
Max Tenure Post Moratorium	-
Co-Applicant required (Y/N)	Yes
Collateral Security (Fixed deposit/ Property, LIC)	Options available for collateral and non-collateral loan requirements
Prepayment Charges	Nil
Moratorium Period	Only interest amount to be paid during moratorium period; EMI begins after course completion+6 months

 Eduloans comes to your disposal with everything that you need to know about loan for study abroad. We give you thorough one-by-one guidance and detailing in simple form. Eduloans doesn’t believe in gobbledygook. We give you straight, to-the-point facts and reality so that you can decide and get going for the process fast. We understand your need to cherish your dreams and make a career for yourself. Reach out to us for more details and information about Credila education loan for studying abroad. We have a pan India tie up where in we connect you with dedicated relationship managers from the Credila overseas education loan team.