If the scholarship amount is not enough to sponsor your abroad studies along with the education expenses, then you can think over the Study Loans In India for abroad studies. Before you drop the opportunity or ask the relatives for financial favor, consider this step to ease your financial difficulty. Compromising with the financial shortage is a common scenario in a developing country like India. If we take majority of household under the spectrum of education expenses, then we will see that most of the students from middle-class strata of the society are either pursuing an average course owing to financial crunch or their parents have mortgaged or sold their properties to bear the study expenses of their children. Since education is the necessity for an established life, so most of the common household children opt for the basic degrees, despite of the potential.
When studying in India is facing this hurdle, imagine what would be the case for abroad studies? Earlier students from higher strata of the society could afford the expenses, but nowadays the scenario is changing with the evolving educational loan from different financers in the market. They are making the process of getting an educational loan easier and quicker, to serve the fund requirements for higher studies in India & abroad. The Study Loans In India for abroad studies covers the tuition fees of the foreign institute & other education expenses, along with the accommodation charges and a portion of the travel expenses.
It has surfaced that on many occasions, the visa application and foreign institute admission gets rejected owing to shortage of funds. The education loan extends a helping hand to the student borrowers for getting visa or securing the admission in the foreign university with the proof of funds. Moreover, there are some financers who disburse the amount within a week accelerating your admission proceedings.
Some financers have made the education loan processing easier with easy documentation, competitive interest rates and flexible repayment options. These financers even provide 100% of the tuition fees, easing the concept of margin money which is almost 10-20% of the course fees. This is of great help for the aspirants heading abroad for higher studies. As the course fees is higher in foreign institute so 10-20% of the fees is a huge amount for the middle-class strata. This concept of ‘margin-money’ has forced many aspirants to drop the idea of flying down abroad for higher studies. When you list all the factors in one string, then you will notice that, the above mentioned factors have made abroad studies easier with Study Loans In India for abroad studies.
The interest rate on the educational loan is floating in nature, and gets adjusted with the market fluctuations and government policies. Depending on the credit profile of the applicant & co-applicant, the academic profile of the aspirant, course profile and the collateral; the rate of interest can be negotiated, making the EMIs easier on your pockets. You can make use of different repayment options depending on your financial profile to pay back the loan amount easily. Either you can start paying the EMIs immediately after the loan amount disbursal or wait till the moratorium period, depending on your affordability.
So if the scholarship amount is not sufficient to fly abroad & chase your dreams, then take a wise decision of taking an Study Loans In India for abroad studies and be self-dependent to learn from the world, because your sincere hard-work deserves it.