Needless to say, every study abroad aspirant wants to study at a reputed University. At the same time, we are also aware of the fact that education is becoming an increasingly expensive endeavor.
In India, a comprehensive student would pay for all costs, including tuition, housing, stationery, laptop, test fees, travel expenses, etc. Special education loans are now accessible not just for colleges and universities but also for coaching facilities.
Some banks like SBI and Bank of Baroda provide female students an additional bonus in terms of fewer interest rates.
A student loan’s principle can range from 50,000 to 75 lakhs of rupees. Depending on the bank and different programs, the interest rate on student loans might range from approximately 6.6% to 15%. Typically, the guarantors for students are either their parents or guardians.
The following documents might support your request for a student loan:
- properly completed application form with two passport-size photos attached
- copy of the 10th, 12th, or comparable grade transcripts.
- a copy of any required mark sheets for graduation or post-graduation
a thorough breakdown of the education costs.
- Student and parent/guardian Aadhar and Pan cards.
- Age, identification, residency, and income of the parent or guardian must all be demonstrated.
For the first disbursement, you would also require the following documents:
- Request letter from the organisation
- Signed loan documents include the loan agreement, the request for payment, and the letter of sanction.
- Collateral security documents (if applicable)
- For institutions located abroad, Form A2 must be completed, signed, and submitted.
ForeignAdmits is a one stop place for all study abroad aspirants who seek guidance and mentorship for their higher education dreams. Right from counsellining to helping you for the loan process, we do it all for you.
Loans can be intimidating but our team of experts make it an easy right for you. If you are someone who is planning to study abroad and might need education loan then simply apply through us.
– You will just have to submit your application. Yes, you are just done here
– We follow up with the Bank on your behalf
– Update you on each and every step of the process