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All about educational loans for studying abroad

Studying abroad is a bold decision. There is a lot that goes into planning on how to actually go about taking steps for actually making this happen. As we all know, affording higher education is no childu2019s play, and even more so if you are planning on continuing your further education abroad.

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All about educational loans for studying abroad

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  1. All about educational loans for studying abroad

  2. Studying abroad is a bold decision. There is a lot that goes into planning on how to actually go about taking steps for actually making this happen. As we all know, affording higher education is no child’s play, and even more so if you are planning on continuing your further education abroad.

  3. The most common way is to go for an education loan in order to fund all the expenses like the admission fees of the university and all the other non-academic expenses too.

  4. The first step of applying for educational loans for studying abroad is to ensure you are eligible for the loan. A lot of applicants tend to make mistakes when it comes to applying for such loans as they are unaware of the exact details of the eligibility criteria.

  5. Here is a basic list of criteria that the applicant should be eligible for in order to get a loan: • The very first criterion is that the applicant should be a citizen of India. • If the applicant has not completed 18 years of age, the loan will have to be taken in the name of his/her parents. • A strong academic background will always have a better chance of getting a loan. • The applicant needs to have secured admission into a recognized university/college. • The course that the applicant is looking to pursue should be a technical or professional course.

  6. What are the documents you require in order to get an educational loan for studying abroad? It is always best to be aware of the requirements of the financial institutions you are looking to get an education loan from. Once you know what is required, you can keep all the necessary documents in place and make the process go smoothly without any inconvenience caused to yourself because of any missing document.

  7. Make sure you have the following documents in place before applying for a loan: • Always carry a duly filled application form. • For identity proof, you can take your PAN card, Aadhar card, Photo ID, Voter ID, driving license, or Passport. • You need to take your residence proof as well as the co-applicant’s residence proof • Carry all your mark-sheets and certificates along with you. • You also need to have the admission letter of the university you have secured admission in.

  8. Remember, you are not limited to a bank when it comes to taking educational loans for studying abroad. A lot of students take education loans from NBFCs as the loan deals offered by them are much more beneficial to the students, as they mostly cover the entire tuition fees and also cover other additional expenses. Related Blog:-What makes an education loan for study abroad preferable?

  9. Facebook:-https://www.facebook.com/AvanseEducationLoan/ Twitter:-https://twitter.com/avanseeduloan YouTube:-https://www.youtube.com/channel/UCcsuUx1EH1C08XmX2embpug Instagram:-https://www.instagram.com/avansefinancialservices/

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