An Overview of Loans for Study Abroad

 

Over the years, for so many aspirants, student loans have become the most secure form of funding for their higher education overseas. Scholarship or personal savings are often enough to pay the high cost of a globally recognized education. As a consequence, asking out a college loan to pursue higher education abroad is usually a very popular choice.

Importance of Overseas Education Loans

Picking out loans for studying abroad has so many advantages, including 

·        100% financing

·        Pre-admission loans

·        Earnings tax benefits.

Let's explore this in further detail.

100% Funding

Most NBFCs (Non-Banking Financial Corporations) offer 100% finance in the nature of unsecured loans from Rs. 45 lakhs.

The Bank of Baroda is the sole nationalized bank that offers 100% finance up to Rs 80 lakhs if you wish to pursue it. But bear in mind that they just do this for the universities which are registered on the website.

Thus, the sponsors are relieved of the early financial strain of arranging the sponsor's share if you're able to obtain 100% funding during your overseas education.

Pre-admission Loan                                

Pre-admission loans are only approved for this major global study location, which is a huge benefit for all students who want to study in USA.. The following factors must be taken into account in order to have a chance of getting a pre-admission loan.

• Parent Income: Above Rs. 5 lakhs yearly

• Scores from standardized tests (whichever is applicable)

·        GRE grade of at least 300

·        TOEFL level of at least 90

·        And over 6.5 bands on the IELTS

Original Content:- An Overview of Loans for Study Abroad


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