Achieve Your Dream to Study Abroad

Shyamoli by Shyamoli Shah

Published Sun, Feb 5th 2017, 15:36 | Education


Study loans are designed for providing financial assistance to post-secondarystudies and the associated fees .They include tuition fees, books and supplies, living expenses and traveling expenses to a certain limit .With lower interest rates of 12.75 % and mere processing fees of 1-2 % of the loan amount .With the advancements in the field of education, a lot of new fields have emerged. Students also fly abroad for study purpose. Hence, a lot of funds are required .It is impossible to fund the education with minimal savings; here study loans come into picture.

Though funding can be done through traditional finances they are costly affair, as the rate of interest is high and traditional finances don’t provide flexibility in the repayment options. The term for the repayment of the loan is also less. Hence, this makes traditional unappealing for the study loans .One can also borrow from family and friends but borrowing from acquaintances might hamper the relationship between people .Hence, study loans are more feasible and easier.

While going for a Study Loans for Abroad an individual must always be clear about certain points .He should check the availability of the collateral securities, so that the burden of the loans reduces. Compare the interest rates of the loans and other benefits of the loan .the loans are offered at low interest rate of around 12.75 % with 1-2 % processing fees on loan amount. If the individual is opting for scholarships it might reduce the loan burden.

Study loans are of different types, they are customized according to the need of the students . Student loans cater to the funds needed during the tenure of the study and the materials required to complete the course. Hence, study loans are of different loans:

·         Bridge loans: bridge loans cover all the expenses and pre admission fees. It includes costs of test preparations, consultant fees, admission application fees, course fees and living expenses.

·         Pre admission loan:  By showing proof of funds one can obtain confirmation of their admission.

·         Pre visa disbursement loan:  Pre visa disbursement loans helps students secure i20 (USA) / VISA and the confirmation of their admission in the institute.

·         Certificate of availability of funds:  This certificate will prove that you have sufficient funds to stay in the USA. It is exclusively for the students trying to secure admission in USA.

Since, study loans are a long term affair the banks and the non-banking institution provide flexibility in the repayment options. Banks offer EMI, simple interest payment or one can opt for moratorium period. The students need to adapt to a sedentary lifestyle and look for part time work to manage their day to day expenses.

Source: http://checkthis.com/achieve-your-dream-to-study-abroad

Bio

Education Loans For Study Abroad to fund your abroad studies? It provides education loan for students planning for their higher studies abroad.