Education loans to study abroad

Ask any student about the biggest impediment to being a part of coveted international universities like Harvard, Oxford, or MIT, and there is a high chance that the response will be “lack of financial resources”.

India as a country is filled with incredibly exceptional talent. The only reason why Indian students fail to fulfill their potential is due to a lack of funding. If you are one of those

Individuals with academic aspirations and a zeal to achieve but feel bound by money problems - well - no need to worry because "where there’s a will, there’s a way".

You won’t have to spend your parents’ savings or retirement funds on your education and you will still be able to fulfill your dream of getting a world-class education. Here, we present you everything you need to know about education loans so that you too can get the education you so desire - without going bankrupt in the process.

Is education loan a smart option?

Finance is the last piece of the puzzle in your big plans to study, be it in your home country or a recognized institution abroad. That's where education loans come in! It is simply a sum of money that you borrow from the government or a private lender in order to finance your higher studies at low interest rates and can be paid back after a certain period of time. However, choosing the right loan provider can sometimes be a daunting and bemusing task. This is where Avanse financial services comes to your rescue.

Avanse is a new age, education focused, digitally agile NBFC known for its flexible and customizable education loans. Online and in-person consultation is provided by Avanse in finding the right

financial solutions. If you are searching for customized education loans that cover your holistic educational expenses with 100% financing, fast sanctions, flexible repayment options, fast track loan options, score-based benefits along with living and ancillary expenses, then Avanse education loans is your perfect go-to solution.

Benefits of acquiring an education loan

• Education loan is the cheapest loan available: Education loan is the most viable net costing loan available in the market. Being a Non-banking finance company regulated by RBI, Avanse Financial Services provides assured quality. Moreover, the International Finance Corporation, an arm of the World Bank holds 20% equity in Avanse, thus ensuring that you are in safe hands!
• Flexibility of repayment: Typically, an education loan is so structured that repayment will only start when the student starts earning (normally after 6 months of course completion). Avanse makes borrowing responsible and easy by offering repayment options that meet the exact needs of the student.
• Approval before admission with 100% coverage: You can opt for a student loan even before you have received admission to your dream university. Avanse study-abroad loans provide 100% coverage for tuition fee, cost of books, housing, travel, laptop, and more, without worrying about any margin money. Your request will be approved and the loan will be processed soon after you secure admission.
• Structured loan amount and coverage: The minimum amount given as a study abroad loan is INR 1,00,000/. Avanse does not believe in putting limits to your dreams of pursuing higher education, thus, modulating study abroad loans to meet personal demands. No margin money asked, full coverage of tuition fee, and up to 75,000 travel expenses are some of the few benefits provided by Avanse.
• Application comfort: Applying to a college is not easy, especially if you’re going abroad, so be comfortable now as you can apply for an Avanse education loan online from the comfort of your home.

How to apply for an education loan?

Avanse’s loan application process is an easy 4-step process and they provide doorstep services for added convenience. The loan experts will handhold you through the entire process, explain all the terms and conditions, and will even help you with the documentation for your study abroad loan.

Once your loan gets approved, Avanse will issue a loan document that contains all the elements of that particular loan. As soon as this document is signed and processed, the firm will disburse the amount as directed by the institution or university.

All you have to do is fill out a simple form and share all the mandatory documents, and your loan will be readily disbursed. You can access the platform easily via their website, phone call, or WhatsApp.

Things to keep in mind before opting for an education loan

To get the most out of your student loan, here are a few things you need to consider:

• Choose a university with a good worldwide ranking (to ensure fastest loan disbursement time as well as a great higher education). Never go with institutions that are not well-ranked
• Do your research about the earning potential (of your course) and your university’s placement opportunities
• Never bite more than what you can chew and always aim for a feasible loan amount. Do the math about your debt, potential income, and the moratorium period

Importance of your credit score

One key factor that can make or break your chances of getting a student loan is your credit score. If you have any current loans, make sure you pay all EMIs on time. If you don’t have any debt yet, make sure to keep it that way.

Doing this ensures a stable credit score, which guarantees a positive credit report and increases your chances of getting a loan to fund your dream education.

Avanse has established a strong positive reputation among students with flexible and easy

loan services that covers over ~50 countries and nearly ~900 universities. Having been the subtle wind beneath the wings of more than 1lac students aspiring to study abroad, Avanse ensures that when you are busy preparing for a new journey ahead, you have one less thing to worry about and that is your finances.

From information on a range of courses to affordable education loans at reasonable interest rates, online tracking and easy repayment tenure, Avanse is indeed a reliable partner for your study-abroad expedition. So, what’s the wait for? Visit their official website and apply now!