Educational Loan: Helps You To Create A Ladder Of Opportunity.

Quality education is a must in today’s life. For many, it’s equivalent to graduating from a top tier institute. However we all know that the cost of education is increasing day by day; in fact, the cost of education in foreign institutes is already quite high. Keeping this in mind, parents try to support their children but despite this, one may encounter a shortage of funds.

Educational Loan

Here comes the Educational Loan which plays a vital role in such scenarios and helps to bridge the gap between the shortfall and the required amount. The loan covers the tuition fees of your colleges, accommodation cost, exam fees and other miscellaneous charges that you may encounter while completing your educational course. With opportunities growing across the globe, many Indian students are aspiring to study in popular destinations like in India, USA, UK, New Zealand, Australia, France, and Ireland.

The maximum amount offered for an Education Loans in India varies a lot from one lender to another. The loan can be taken for graduation or for post-graduation in the field of engineering, management, medical, hotel management, architecture etc. So, the loan can be very crucial in framing the career of a student. The lender provides education loans which aim to finance students who choose to pursue higher studies in India or abroad.

There are many Public, Private and Non- Banking Financial Institutions that offer customized education loans at over 1000’s of universities across the world.  When it comes to customized loan solutions, they offer various features such as pre-visa disbursement loans, pre-admission loans, certificate of availability of funds and fast track loans. In order to avail an education loan to study abroad the borrower needs to submit their KYC documents, course fee, academic history, a letter of admission from the institute declaring secured admission, collateral documents and details of examination scores like GRE/GMAT/SAT to the financial institutions. Most of the lenders ask for collateral if the loan amount is bigger. There will be a co-applicant to ensure that in case if you are not able to repay the loan amount, there must be someone who will take care of it. 

Finance Pundits suggest that before opting for an education loan, one must compare online regarding different interest rates, repayment period, documents required, processing fee, minimum loan amount and time taken to disburse the amount. The lender directly transfers the loan amount to the institution account. Generally, the minimal loan amount sanctioned for study in abroad is INR 1, 00,000; however, the maximum limit varies in accordance with the borrowers’ needs.

Before applying for an Educational Loan  you need to check some factors like: loan amount eligibility, institution that can provide you loan with zero margin.  Apart from this, always compare the interest rate offered by varied banks and Non-Banking Financial Institutions. You should also check the repayment options and types, what kind of flexibility they can offer; in order for you to maintain a good credit score. So, the best form of financial assistance towards your education is to avail a study loan that can act as a stepping stone in your career.

Hope this information gave you an overview on educational loan and if you are still looking for more info, you can compare and check online on various parameters.

Why students are opting for education loan for MBA in India.

Education is extremely important for students to succeed in life and climb up the ladder of corporate hierarchy. Thus, a number of youngsters are trying their level best in order to obtain higher education from a premium institution. However, the costs of education have increased greatly in recent years; therefore, people are finding it difficult to cover their educational expenses without any outside help. Hence, there are a number of students who seek to opt for Education Loans for Students through a new-age financial institution or a traditional financier. However, opting for financial assistance through a new-age financial institution is better; because the interest rates charged by the banks and NBFCs (non-banking financial institutions) are way lower than the ones given out by loan sharks. Other than that, there are a lot of benefits of opting for these loans, and a few of them are here as follows:

• An education loan covers a number of educational expenses such as the costs of your tuition fees, college fees, living expenses, travel expenses, etc. Other than that, the study loans even take care of the other miscellaneous expenses that you might incur while pursuing your educational degree.
• An Education Loan for MBA helps you to take care of your educational expenses on your own. Therefore, you don’t have to depend upon anyone else for financial assistance. Because, many-a-time, parents often exhaust their life savings in order to sponsor their child’s education.
• The repayment of an education loan is done in the flexible form of EMIs (equated monthly installments). These EMIs are calculated on the basis of the interest rates charged by the financial institutions, repayment tenure opted by you, and the principal amount that you borrow.
• The financial institutions even provide us with free-of-cost online tools such as an EMI calculator. These tools are provided by the financial institutions on their online websites to help the lenders with their education loan for MBA. These calculators help the people to compute their installments and plan out all of their previous and current debts in advance.

The financial institutions have set eligibility criteria that have to be met by the people in order to make use of an Education Loan for MBA, and these criteria are here as follows:

• You need to be a citizen of India in order to make use of monetary assistance. Further, there is also an age limit set by the financial institutions for you to make use of the loan amount, and it is 18 years to 35 years (for most of the financial institutions).
• The financial institutions also ask you to provide with an earning member of the society as a co-borrower. This co-borrower can be any of your family members such as parents, siblings, etc.
• The financial institutions also check your course, the country of choice, letter of confirmation from the university, educational background, etc.
• Further, the financial institutions also check your co-borrower’s credit score, history, and income. This is done by the banks and NBFCs (non-banking financial companies) to ensure that the education loan for MBA will be repaid easily.

  

  Education Loans for Students

Why it’s better to avail educational loan for studying abroad?

• Sameer was delighted to know that he has cracked his entrance test and secured an admission at the University of Warwick, UK. However, as soon as he got the admission letter along with the huge costs of tuition fee, exam fee for a moment he was left broken. He felt his career was at stake and his hard work went in vain. Being from a middle-class family it felt like a distant dream of his life to studying in his dream university. However, a big thanks to Mr Sharma his dad's friend who introduced him about Educational Loan for Studying Abroad which is offered by leading private finance companies to fund the higher studies of such meritorious students.
• Today, there are leading private finance companies and banks who are gaining an edge over the traditional financiers and government banks by offering customized loan solutions to aspirants who wish to fly abroad for higher studies but struggle due to lack of finance. These firms offer 100% education finance to brilliant minds of India so that they could pursue dream course in top-notch universities in countries like USA, Canada, UK, Germany, Australia, Singapore, New Zealand, UAE, France, Ireland, etc. Compared to traditional finance or personal loans, Overseas Education Loans is offered at attractive interest rates of mere 11-15% with a mere processing fee on it.  Every lender evaluates your loan application as per there parameters and sanction's principal amount with certain interest rate slab. Women applicants are offered 0.5% of concession on the interest to empower them with a quality education. Other than this there are around the year discounts, for instance, Women Day's, Teacher's day, festive occasion, seasonal discounts and more. Therefore, by comparing the loan of reputed private players online you can vouch on a good deal that proves affordable on your wallet.
• The cost of studying in foreign countries is based on a number of factors such as Your age & academic score, co-borrower/parents credit score, university reputation, the country you pick to study, its currency rates, course type and its job prospects, financial background of the co-borrower/parents and collaterals. Although it seems a complex task to gauge loan amount by evaluating these parameters, however, when you partner with leading private players for Educational Loan for Studying Abroad they will stand by you at every step of the way and simplifying the process for you. In order for you to focus on more important things like planning for studies, entrance test, projects and more.
• The cost of studying in the above-mentioned countries varies on a number of factors, ranging from the University, subject courses, and of course, the cost of living in the country picked. All of these are complex factors, but when you partner with Auxilo for a study abroad loan, we stand by you every step of the way and simplify the process, so you can focus on the important thing.
• One of the most flexible points of educational loan for studying abroad will be you don't have to make immediate repayments. Instead, you can wait for six months to one year after the course completion before starting your loan repayments. Thus, technically speaking you have around 8-10 years for comfortable EMI payments. Experts say if you opt for part-time, win scholarships in university competitions you can divert money for interest rate payments and it will help you significantly bring down the loan costs.

Get easy financial access to fund your higher studies

• Education is not just important for the betterment of an individual but also for the socio-economic progress of any nation. The strength of any country is recognized by how well-versed and educated the citizens are, especially the youth. Today, due to the growing competition it has become imperative to attain higher studies to achieve success, lead a better lifestyle and contribute to society through knowledge and wisdom. However, higher education prices are skyrocketing high and it’s beyond the financial reach of middle and upper-middle-class people.
• You need lakhs of rupees to fund higher education such as management studies, master's, engineering, architecture, medical science, aviation courses, etc. Graduate, as well as postgraduate study programs, can be financed with Educational Loans . The student is considered as the primary borrower, while his or her parents, siblings or spouse are treated as co-applicants of the loan.
• To cater to the skyrocketing costs for these courses, educational loans are offered by leading banks and financial companies across India. These loans are offered at lucrative interest rate deals compared to the traditional finance or pawnbrokers who would otherwise dupe you with exorbitant interest rates and unwanted charges. Secondly, whether you would borrow a small or big amount you would have to pledge for collateral in the form of jewellery, property or policy papers.
• Thanks to reputed private lenders who have come to rescue millions of students in the form of an unsecured educational loan up to Rs 50 lakhs. Yes! You heard it correct. If you have exceptional talent and secure admission in top-notch universities/institutes in India or abroad with high placement records, you don't have to pledge for any form of collaterals to avail loan up to Rs 50 lakhs. All you have to do is prove your talent and they are willing to fund your dreams!
•   When you opt for an Educational Loans for Studying Abroad  they come up with customized loan 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. With right documentation, good entrance records, and academic history you can get the loan sanctioned in one day as well. Overseas study loan
  is the best financial resource that can easily be availed from top private lenders with attractive interest rates of around 11-15% and mere processing fee of around 1-2% on the amount. The borrower not just gets to enjoy a lower rate of interest compared to conventional loans, but also flexible repayment modes and loan tenure of around 7-9 years.
• Since these Educational Loans  are offered to students you don’t have to start repaying them immediately. Instead, you can study and then start repaying the money after six months to one year of the course completion. It is termed as moratorium period. Private lenders stress upon making the entire process of the overseas study loan application to documentation and disbursements after the approval so simple and hassle-free that you won't even sense slightest of the worries which normally feels like a roller coaster ride while government banks and traditional financiers. Conducting a little bit of research online and comparing lenders would help you choose the best educational loan deal. The time you prepare for the entrance can be used to compare quotes of reputed loan lenders from private and public sectors.

  

  Best Education Loan In India

Finance your study in foreign country with student loans.

There are few prestigious institutes for higher education in India and therefore, many aspirants are not leaving any stoned unturned to secure their admission in foreign countries. They study hard in higher secondary school, score merits in the entrance exam and ensure to bank an admission in their dream university. However, higher education price is skyrocketing high in today's time and many aspirants have to compromise on their dream studies. Thanks to the Education Loan Abroad that helps millions of aspirants to fund their education in top-notch universities/institutes in the foreign country. You can opt to study in some of the most popular destinations like USA, Canada, UK, Germany, Australia, Singapore, New Zealand, UAE, France, and Ireland.

Educational Loan for Abroad Studies is far more cost-effective and flexible compared to traditional finance or personal loans. You can avail loan at an attractive interest rate of 11-15% and there is a special concession of 0.5% for women applicants on the interest rates. There are many leading public, private sector banks, and non-banking financial institutions that offer customized loan solutions such as a pre-admission loan, pre-visa disbursement loan, score based products, 100% funding for meritorious students, wider course and country coverage, bridge up loan, etc.

Experts suggest the time while preparing for entrance exam should be utilized to compare loans of different lenders. You can visit online aggregator sites and compare apple-to-apple in terms of interest rates, processing fee, principal loan amount, flexible repayment options and loan tenures, and other charges applicable while availing the loan.

Private firms are willing to offer an unsecured loan up to Rs 50 lakhs with instant loan sanction within one day. So, don’t have to worry about the collaterals when approaching government banks when you can easily draw a solution from private finance companies. They are willing to offer 100% education finance and cover entire education expenses such as tuition fees, exam fees, lab and library fees, caution deposit, travel, books and equipment, projects, thesis work, and study tours.

Some common eligibility criteria to apply for Education Loan Abroad:

• You have to be an Indian National between 18 to 35 years
• Should have secured admission to foreign university/institute
• Good academic history
• Good credit history of the co-applicant/ income details/ ITR returns/ bank statements
• University Ranking, course types, and further job/entrepreneurship prospects
• Country & its forex rates
• Collaterals such as plot land, policy equivalent to the loan amount, investment returns

Lenders will evaluate the details and offer loan amount with a particular rate of interest. With good academic history and a credit score of co-applicants with a strong display of income source, you can negotiate with the lenders to lower the interest rates.

You can repay your loan from abroad and you don’t have to start making the payment immediately. Instead, you can wait for the course completion and start your EMIs after six months to one year of the course completion. It is termed as moratorium period. Experts say if you live a sedentary lifestyle, opt for a part-time job you can start making payments to some extent for interest rates. This will significantly bring down your loan costs.

Don’t let financial obstacles ruin your career. Instead, reach out to the reputed private lenders and let them find a customized solution that will take you closer to your educational dreams. Apply for education loan abroad online now!

Benefits of opting for an overseas education loan in India.

Education is of pivotal importance in the modern times; thus, students are trying everything in their limit to obtain a quality education. The new-age students visit foreign lands to pursue higher studies and make a name for them. However, obtaining education from a premium institution in a foreign country costs a lot of money- something that many middle-class citizens are unable to shell out from their wallets. Thus, at such times, they choose to borrow money through either a loan shark or a traditional financier; however, opting for an overseas education loan through a bank or NBFC (non-banking financial company) is a better option. The reason being, financial institutions charge way lower interest rates than the ones given out by traditional financiers and loan sharks. There are a variety of benefits of opting for these loans, and a few of them are here as follows:

• The best thing about opting an Education Loan for Study Abroad for your higher studies is that you get to self-finance your educational journey. Therefore, you don’t have to depend on your parents or siblings for financial support. After all, more than often, parents often exhaust all of their resources in order to fund their child’s education.
• Education loans take care of all your study-related expenses. The various expenses covered by the study loans range from the costs of tuition fees, living expenses, travel expenses, college fees; as well as all the other miscellaneous expenses incurred by the students while pursuing higher studies are taken care off under these loans.
• The repayment of an Overseas Education Loan is done in the flexible form of EMIs (equated monthly installments); these EMIs are calculated on the basis of the principal borrowed amount, interest rates charged by the financial institutions and the repayment tenure opted by you.
• There are a number of tools provided by the financial institutions such as an EMI calculator. An education loan EMI calculator is an online tool that is available free-of-cost for your use. Thus, you can simply visit the online websites to make use of this easy tool.

However, before you decide to opt for an Overseas Education Loan, you need to remember that there are a few eligibility criteria set by the financial institutions. Hence, the eligibility criteria given out by the financial institutions are here as follows:

• Make sure that you have a good academic background before you apply for an overseas education loan. The financial institutions check your merit, letter of confirmation from the university, your documents, etc.
• You need to be an Indian citizen in the age group of 18 years to 35 years (for a few financial institutions). There must also be an earning member of the Indian society who is willing to co-sign the loan amount and become the primary debtor. This primary debtor can be any of your parents, siblings, etc.
• The financial institutions also check the credit history, income and a credit score of the co-borrowers. You can also make use of the multiple co-borrower facilities, and increase your chances of getting higher loan amount.

What are the eligibility criteria for an online education loan India?

There are a plethora of educational institutions that offer a variety of courses in varied fields. The students thus have an abundance of alternatives in front of them to choose from. However, the cost of obtaining a degree from these institutions is way beyond the reach of common man. In here, education loan plays a major role in helping the people by providing them the much-needed financial assistance. Also, thanks to the technological revolution and easy access to internet services, many banks and NBFCs (non-banking financial companies) have started offering their financial services online. Thus, you can now obtain an education loan from the comfort of your home or office and even when you are on the go. However, there is an eligibility criterion that you must fulfill in order to successfully apply for an education loan India. But before, we look at the eligibility criteria; let us understand the importance of opting for an education loan in the first place:

• An education loan takes care of all the financial problems that you face while pursuing your higher studies. The different types of costs that an education loan covers are your tuition fees, college fees, living expenses, travel expenses, etc. Other than that, even the other miscellaneous costs that you incur while pursuing your education studies are covered by education loan India.
• A study loan provides you with a plethora of educational options in a varied number of fields such as science, arts, commerce, humanities, hotel management, MBA, medicine, engineering, architecture, etc. Thus, you can easily pursue higher education in the field of your choice.
• The repayment of a study loan is done in the flexible form of EMIs (equated monthly installments).The best thing about opting for an online education loan India is that you can calculate your EMIs online and choose the perfect loan for you. These EMIs are calculated on the basis of the principal amount that you borrow, the interest rates charged by the banks and NFBCs (non-banking financial companies) and the repayment tenure opted by you.

Now that we have gone through the importance of an education loan, let us look at the required eligibility criteria to obtain one, and they are here as follows:

• The first and the foremost thing that the financial institutions will check is whether or not you are an Indian citizen in the age group of 18 to 35 years (in the case of a few banks and NFBCs). After that, the financial institutions will also check your academic background.
• You also need an earning member of the Indian society to co-sign the loan amount. He or she shall be the primary debtor and can be any of your family members such as siblings, parents, etc.
• The financial institutions also scrutinize the University of your Choice; the course that you have applied for and your co-borrowers credit history, score and income source. You also need to possess a letter of confirmation from the university to successfully obtain an education loan India. Also, make sure that you have all the required documents with you.