Banit singh

Banit singh

EducationFinance

How can I get education loan for Abroad?

Avanse Education loan
views
6246

Education loan for abroad does not just suffice your need for supporting your children’s education plans and career goals, but also come across as excellent opportunity for tax saving. Study abroad education loans offer a chance for a borrower to get their entire interest deducted under Income Tax Act, under section 80E. Therefore, the cost of education loan in reality comes to be much less. Moreover, by not touching the personal savings and borrowing a loan for sponsoring higher education of children is an excellent way to make your children financially disciplined and independent.

Avanse education loan comes as a brilliant option for helping students. This is a NBFC option for students willing to go abroad and study through education loan. Avanse education loan comes with its own sets of perks, which are explained in further section here.

Taking education loan for abroad is a route that many parents suggest to their children so as to make their credit score right from the beginning. This is also seen as a habit for inculcating a sense of financial responsibility among children.

Read More: CAN LAPTOP BE REPLACED BY A TABLET IN FUTURE?

Avanse Education loan

Avanse offers specifically designed education loans for students willing to set their career in motion by going abroad and studying. This NBFC offers education loans for colleges and universities in 44 different countries, and 6,000 courses. Avanse education loan annexure lists 1,626 universities along with 1,262 colleges.

This NBFC makes education loan available with and without collateral. Among the many advantages of Avanse education loan is getting faster loan disbursal and pre-visa loan. Applicants also get other benefits, such as score-based advantages, fast-track loan and bridge loan.

All these advantages however come with their sets of limitations, terms and conditions. A student’s profile, merit, and a borrower’s credit score play a crucial role here.

Benefits of  Education Loan

  • No margin money required
  • 100% finance
  • Flexible repayment options
  • Express loan disbursal within one day
  • Customized education loan for students
  • No set defined limit for loan amount
  • Digital processing

Education loan for abroad

The table below describes everything that you must know about the Avanse education loan.

S.No.FeaturesAvanse Education loan requirements
1Age and Nationality18 years and above | Indian
2Loan AmountMinimum: Rs.1 lakh

Maximum: Rs.40 lakh

3Margin MoneyNil
4Avanse Education Loan Without CollateralOffered
5Interest Rate11.75% to 16%
6PrepaymentNot allowed for the first 6 months
7Loan RepaymentMinimum Tenure: 12 months

Maximum tenure: 10 years

8Repayment Holiday6 months after course completion or 3 months after getting a job (for principal amount)
9Processing Fee1% of Loan amount + GST (may vary)
10Loan Tenure10 years
11Processing Time5 – 7 days
12Payment during Study PeriodSimple Interest or Partial Simple Interest

 

Eduloans helps you with education loan for abroad. Whether you are interested in borrowing money from a public sector bank, private bank or an NBFC like Avanse, our loan experts can give you thorough guidance and can suggest the best possible option depending upon your loan requirement.

Finance

Study In USA – A New Destination For Overseas Education

Study In USA - A New Destination For Overseas Education
views
6410

Global education has remained a choice among Indians for time immemorial. These education hubs tend to create programs which attract international students. There are certain factors, such as research-based learning experience, excellent faculty and practical skills, which makes destinations like Germany, New Zealand, UK and the USA as the top priorities among Indians and other students. Overseas education loan can be had easily for students interested to study in the U.S., which is not just a new destination for overseas education, but also a great place to stay in for the crucial years of life.

Read also: WORKING IN CANADA: DOCUMENTS REQUIRED TO OBTAIN A VISA

The students who remain career focussed do not just look for the top-notch education, but several other factors while choosing destinations for higher education. The focus also remains on the post-course scenario and career prospects. Apart from this, repayment for education loan in USA is also a factor. That is why, the purpose is to look beyond just a quality education. USA can offer an enhanced career plan by being a brilliant host country. A post-study visa allows students in landing into their dream jobs. USA is a preferred destination for students with an engineering background who aspire to Silicon Valley jobs.

The U.S. universities are top-ranking ones because they achieved the top 5 rankings in QS world university ranking 2019. Some of the top universities of the country have consistently maintained higher standards of education. Some 1.18 million have recorded to be studying in the universities in the U.S. in 2017. However, U.S. does have an unfavorable post-study work permit for NON-STEM Students. Despite that, this country remains at #4 position when it comes to overseas education loans.

The list of universities in the U.S. is phenomenal and students have an opportunity to choose from some 4000 different universities.

Here some of the popular subjects chosen by Indians in U.S. universities

Subject of StudyPercentage of Indian Students
Engineering36
Business & Management10.3
Maths & Computer Science34.9
Social Sciences2.2
Physical & Life Sciences6.3
Fine & Applied Arts1.6
Intensive English0.3
Health & Allied Sciences2.9
Education0.3
Humanities0.3

 

A degree from reputed university in the U.S. opens multiple avenues for career opportunities for the Indian students. For this reason, education loan in USA seems to be a popular choice among students. Despite a few overshadowing factors like high cot of living, students pick USA as their destination for a better quality of life and the highest standard of living.

U.S. definitely is the torchbearer for the world when it comes to technology. With the latest technology, it becomes a hot destination for the students to explore the feast. American universities are equipped with the top-notch tech advancements. With new methods of teaching and learning, students have a unique curve to explore education in a different manner.

In a Nutshell

If you are looking for an overseas education loan in the U.S., Eduloans can be your helping hand. We can assist you and guide you through your process of education loan in USA by walking hand in hand until you fly to the States. Eduloans is the only education loan platform which has a tie up with US banks to provide you the right education loan choice in USA.

English EN Hindi HI