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Smart way to study abroad

In a survey it is revealed that students studying abroad experience a holistic and positive development not only in academic life but also in personal and professional life. Studying abroad has its unique advantage. Knowing this advantage of studying abroad, students opting for oversea studies is increasing. But, not everyone has that financial capability to send their child for abroad studies easily. Understanding the importance of abroad studies various banking and non banking financial companies are showing their interest in funding the education expenses of the aspirants in form of Education loan abroad. The lending institutions offer the loan to Indian citizen for pursuing graduation, post-graduation for job-oriented professional or technical courses offered by reputed universities and institutes.

The finance providers are providing easy finances to the Indian students aspiring for oversea studies. They are simplifying the loan and disbursement process. The loans are crafted in such a way that the whole procedure is conducted hassle-free. Most of the lending organizations provide 20-50 lakhs for loan. However, there are some NBFCs that provide the maximum amount the student require to pursue the degree from foreign university, no upper cap is there. So, the aspirant no longer has to worry about the chunks of money they require. The Education Loan Abroad amount bears 100% of the tuition fee, books & laptop prices, living & food expenses.

If the GRE score is appreciating then the aspirant can apply for the loan without security for the study in USA and can claim concession in the interest rate.  To avoid delay in the admission process, the financers offer fast track loans. Pre-visa disbursement loan is provided on submission of a valid document supporting your admission confirmation. It acts as proof of availability of funds in the visa interview. Similarly pre-admission loan also supports you in your claim of fund availability while seeking the admission abroad. All these convenient features are provided at a competitive rate. Understanding the importance of a burden & stress free education, unlike the traditional lenders the lending institutes provide the borrower a maximum of six months moratorium period after completion of the course.

The biggest advantage of a Education Loan Abroad is that the student can concentrate in his/her studies passing the financial burden to the lender. And can repay the loan at their convenience choosing from list of options like:
·       Repayment of the interest or partial interest amount immediately after the disbursement of the loan amount.
·       EMI repayment during the course.
·       EMI repayment after the moratorium period.
·       Borrowers can also utilize the opportunity of step-up EMI for repaying the loan.

Check yourself from committing few mistakes before applying for the loan, as overseas education loan is a matter of loads of money a simple mistake can cost you heavy debt.

 Some are:
·       Selecting the financers without thorough research.
·       Going for lower interest rates without following the terms and conditions in the fine print.
·       Failing to compare various financers available in the market out of sheer reluctance.
Education loan is of great help not only for the lower class people, but also for the upper middle class people of the society. As the aspirant is the main applicant along with a 

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