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.