How to fund your education dreams with study loan?

Pursuing higher education will help you achieve success in life. Every parent wishes their kid should pursue their dream course and bank a suitable job or be a successful entrepreneur. However, due to spiralling costs it difficult to fund their entire costs with the little savings over the years. If you approach traditional loan sharks, they will dupe you with exorbitant interest rates which can seriously derail your finances. One of the best ways to pursue your dream course is opting for an Educational loan. Today, top banks and financial institutes provide student loan at attractive interest rates between 11% to 15% and with a mere processing fee on it.

There are many loan lenders who are willing to offer customized loan solution so it’s important you compare quotes and make an informed decision. Here, are few tips to consider before you opt for study loans:

Comparing the quote will help you take a wise decision for your Educational loan. Private lenders provide customized solutions based on your financial requirements and risk potential. They are willing to provide collateral free loan up to Rs 40 lakhs with an instant sanction in one-day. Women applicants are given a concession of 0.5% on the lending rates.

• 

Go through the tiny sentences, clauses, terms, and conditions before you opt for an educational loan. Make sure you give a careful look at each of these before you sign on the dotted lines.

Shortlist the universities or institutes which have tie-ups with reputed or reliable loan lenders. It wil help you get some attractive interest rate deals. They should have high job placement after the course completion so that you can soon start repaying your debt with comfort. If not, have a clear repayment strategy in mind as to what should be done after your professional studies to earn sufficient money to repay the money.

Experts say you can start repaying the money while in college as well. If you make the interest payment, it will significantly reduce your loan costs. Usually, loan lenders will offer a grace period of maximum six months to one year after the course completion, so that the borrower will secure a good job. It is termed as moratorium Period

Your education loan will cover your entire educational expenses such as tuition fee, exam fee, travel (in case of an abroad loan) and accommodation (hostel and mess) charges, cost of books/laptops, cost of instruments/apparatus, library charges, etc.

A good academic record, a credit score of the co-borrower and confirmed admission letter will help you talk to the private lenders to reduce the Educational loan interest rates, and qualify higher loan limits.

Educational loan is provided for all postgraduate course, specialist course, management course, vocational courses leading to a professional qualification.

With educational loan abroad you can study in some of the foreign countries like UK, USA, New Zealand, Australia, Belgium, France, etc.

Don’t let financial obstacles ruin your educational dreams. Opt for study loan online, today!

Education loans: Your financial resources to pursue higher education

Quality education will strengthen the future of an individual, and help him or her attain success in life. Without proper education, you cannot have a fair sense of right or wrong in day-to-day life, you can’t take a decision for the betterment and individual progress. However, due to the escalating educational costs, many middle-class aspirants are unable to fund their higher studies on their own. If you too wish to pursue higher education; however, run short of finance then you can take Education loans in India. Before opting for a loan, you should evaluate your savings and the amount required to borrow a loan. Most government banks will demand to pledge collateral security for the small loan amount as well. Collateral security is an asset that the borrowers offer the lenders to secure the loan. However, some private lenders are willing to offer collateral-free study loan up to Rs 40 lakhs and with instant loan sanction in one day.

The lending bodies evaluate few parameters to determine the loan eligibility such as your academic records, monthly income of co-applicant, credit history, bank statement and KYC-related document before approving the loan. If the student is working professional his or her income will be considered at the time of sanctioning the loan, and if the student is dependent on his or her family for educational expenses, he or she would be eligible for loan amount solely based on parents/co-guardian’s income. A student who wishes to pursue higher studies in a foreign nation is given customized loan solutions such as Pre-Visa Disbursement Loan, Pre-Admission Loan, Certificate of Availability of Funds, GRE score based loan, Bridge loan, fast track loan, etc. that will set them free from financial obstacles.

Lenders will check the reputation for the university, job prospects of the course, and whether it will offer the student a sound career opportunity. While opting for education loans in India, you should always try and pursue career-oriented course such as engineering, doctorate, management, civil aviation, master’s with high job placement so that once you complete studies, you won’t have to struggle in seeking a job and you comfortably start your loan repayment.

As far as loan repayment is concerned, you can repay it after your course completion. Some private lenders give a grace period of six months to one-year duration after the course completion termed as moratorium period for loan repayment. Thus, you can make the optimum use of this time to secure a job, and start repaying the money. Experts’ advice if you repay your interest only during this time, it will significantly bring down the educational loan costs.

Private lenders offer education loans in India with attractive interest rates ranging between 11% to 15% and mere processing fee on it. Good academic records and excellent credit history of co-borrower will help you to negotiate with the lenders for low- interest rate deals. Compare quotes online while preparing for the entrance exam, and choose the best lender as per your affordability and financial requirements.

Education Loan- An Easy Way to Facilitate Study in India

Education is the right of every person whether he is a kid or a grown-up adult. It is a key component for everyone to achieve goals or succeed in life. Education acts as a tool in this competitive era which helps you to navigate the world, it provides you knowledge and skills and many other benefits. You can say that it’s a vehicle to your well-paying job, makes you self-dependent, and can turn your dreams into reality. It boosts your confidence and self-esteem on one hand and on the other side it can help to boosts the economic growth of the country. We know what you must be thinking; that with this prevailing situation of the rising cost of education, financing higher education has become a great provocation for most of the parents and students. Hence, if you really want to continue your higher education or want to study in India, the best solution is to opt for an education loan. Why we are saying this to you is that we know that financing education consumes a huge chunk of your savings, hence that’s why it is advisable to go for a loan because it spreads over a long period of time. You get enough time for affordable installments that would leave your liquid-cash for the purpose of your day to day expenses.  So, if you want to study in India-with the help of education loan-there are some factors that you need to keep in mind-

Eligibility Guidelines: Well, before applying for education loan, the lenders have some guidelines that you need to follow in terms of documents requirements, co-borrowers etc. There are many lenders in the market who support and offer the nature of course, you want to pursue, courses which are conducted and approved by UGC/AICTE, Govt. etc. Well, in order to study in India with less financial pressure, the very first requirement is you must be a citizen of India. Usually, every lender has its own terms of criteria. There are many lenders in the market who approves the diploma, degree and vocational training courses in every domain- engineering, medicine, management, aviation approved by IIT, IIM, etc.  

College Fees Budget: The cost of education is rising every year, becoming very expensive, whether it is academic tuition fee, library, cost of the examination, etc. the final budget boils down on the type of institution and the program to be undertaken. So, before you decide to

for a higher degree, it is important to consider the institution fees, type and cost of a program to be undertaken. Well, there are some lenders who take care of your every need so as to reduce the burden when it comes to paying.

Interest Rate: – The deciding factor is actually the cost of a loan, and it varies lender to lender. Some lenders offer loan on fixed interest rates while some offers on variable interest rates. The interest rate is calculated as = the lender’s base rate + spread. The spread is floating and depends on the market conditions, an overall analysis of course profiling, and credit rating. You can choose a lender who offers a loan on a competitive rate of interest so that you can study in India, with no burden of higher repayment.

India is a developing country where you will find multiple learning opportunities in your everyday life. Hence, these are some of the solid reasons which you need to keep in mind before locking your decision to study in India with the help of Education loan.

Fund your executive studies with a study loan

Suresh is an average middle-class family person and he had to immediately start working after his graduation. However, he always had a dream to pursue his MBA in sales & marketing, so he kept on preparing for his entrance test. His hard work paid off, and he finally scored merit in his entrance test. To his surprise, he secured admission in Symbiosis University, Pune as well. However, after checking the course fee which was around 20-25 lakhs he felt like it’s a distant dream. Just when he was feeling low, his manager – Wasim introduced him to executive education loans offered by leading private finance companies and banks. He immediately applied for the loan which was sanctioned in just 24 hours. Today, Suresh is an MBA graduate, and top-notch companies are already willing to offer him interns in their organization.

Just like Suresh, there are millions of students in India who struggle to manage complete finance to pursue management studies. Of the many professional courses taken by students like doctorate, engineering, law, architecture, Masters’ etc. MBA is the most preferred one. You can specialize MBA in various verticals like Finance, Sales & Marketing, Banking, Information Technology, etc.

With Education loan for MBA, your dreams are well within your reach. Private lenders are willing to offer customized loan solutions to meritorious students and professionals’ to pursue their higher education. While traditional lenders demand to pledge collaterals for any loan amount, reputed non-banking finance companies offer an unsecured loan up to Rs 50 lakhs. With right documentation, merit scores, and excellent credit history of the co-borrower, your loan is sanctioned in one day’s time.

Since these loans are offered to students and working professionals the interest rates are quite low usually in the range of 11-15% with a mere processing fee on it. Women applicants are offered a concession of 0.5% on the loan amount, to empower them with quality higher education. As long as repayment is concerned, you don’t have start repaying immediately. Instead, you can make repayments of your loan after six months to one year of the course completion. So, technically speaking you have a time of around 8-9 years to repay your loan. And if you’ve secured admission in a top-notch university abroad you can repay from there as well.

Your education loan for MBA will cover entire education expenses which includes 100% of your admission/annual fee, examination fee, library fee, laboratory fee, hostel or mess charge,  books, equipment and instrument like laptops, computer charges, travelling to (certain extent), project funding, thesis work, or educational tours.

Experts say it would be wise to compare loan quotes of established players in the market in terms of interest rate, processing fee, loan EMI, etc. before you pick your lender. Applying for education loan for MBA is no more a painstaking job in this internet-based era. Right from comparing quotes to make an application online, the disbursals to repayment you can do it right from the cozy corners of your homes or colleges. Don’t let financial obstacles stop you from achieving your educational dreams. Apply for education loan for MBA online, and chase your dreams with ease, now!

Overseas Study Loan? Here’s why you should go for NBFCs instead of banks.

Got an overseas study loans on your mind? First of all, let us tell you that it’s a great idea. It provides all the funds you need and allows you to finish of your course and find a job before you start repaying the loan. Having said all of that, the moment you decide to take an education loan, you’ll be faced two options – borrow from a bank or a non-banking financial institute?

The choice can be quite confusing but this article will help you make a confident decision by highlighting some the reasons NBFCs hold an advantage over banks.

1. Collateral free financing.

For certain amounts, banks will ask you to provide collateral. For instance, for course in India, loans above 7.5 lakh would need to be backed by some sort of security. This could tangible assets such as property or it could in the form of life insurance or fixed deposits.

However, this can be a problem for promising students who have nothing to pledge as collateral. Their course fee for an overseas education is bound to cross 7.5 lakhs and without anything to put down as security, banks will most likely turn them away.

Fortunately, you won’t face this problem with an overseas study loan from most non-banking financial institutes. They will provide up to 20 or 30 lakhs without any collateral. That is of course, if you are an eligible student with a promising future or if your financial background is strong.

2. Margin money.

Margin money is the amount you have to contribute toward your course fee before the overseas study loan covers the rest. Some banks will require you to provide 15% of the loan amount (5% in case of courses in India) if your loan amount is more than 4 lakhs. Again, for student with no means of providing such a down payment, banks can be a dead-end road.

And again, this is a problem you will not encounter with most NBFCs. They will provide 100% financing without any down payment or margin money.

3. Processes.

Banks usually have tedious application processes. There will be paperwork, documentation, standing in line, etc. It can become very tiring, especially if you forget some document or require some other form – you will have to make back & forth trips between your home & office. This means setting aside time from whatever else you do in a day just to apply for the loan.

However, most NBFCs operate online to large extent. They allow you to apply from the comfort of your home, at a time that’s convenient to you. They will also offer quick turnaround times, in the best cases, you can expect approval on the same day itself and sanctions in a few hours!

Most NBFCs also provide expert advice along with their Overseas study loans. This can go a long way in helping you make smart borrowing & education decisions. We hope this article helps you make the right choices, good luck and all the best!