Higher education costs are skyrocketing high in the past couple of decades. Students and parents often stay worried about arranging the requisite finance to fund studies in reputed college /universities. Rising inflation, ultra education amenities, higher living costs, exorbitant fees just keep them tensed throughout the admission process. Because of the high costs, most parents ask their children to sacrifice their dreams. Relax! In this modern era, funds can be quickly accessible in the form of Educational Loans and you don’t have to sacrifice your educational dreams. Today, there are leading banks and private finance companies out there who offer study loans with attractive interest rates and repayment options. They have come up with state-of-the-art facilities for a student loan, so bank a suitable opportunity and step into the world of success by pursuing good and quality studies at top-notch universities in India or abroad.
Private lenders are keen on offering customized solutions to an individual who wishes to pursue quality studies. When students go abroad they have to show sufficient proof of funds in the bank account. Else, they won’t be able to stay in a foreign nation to complete studies. In such scenario, lenders have come up with customized solutions like a pre-admission loan, Pre Visa Disbursement loan, score based products, 100% funding for meritorious students, wider course and country coverage, bridge up loan, etc. As per your financial requirements and hurdles in the visa process, you can approach lenders and they will help you tide over such a complex situation.
The quantum of the loan, the documentation process varies from one bank or firm to another. While government banks might demand margin money of 15-20% there are private firms who are willing to offer 100% education finance at attractive interest rates. You can avail an unsecured loan of around 50 lakhs and get your loan sanctioned within 24 hours. The interest rates are as low as 11-15% with a mere processing fee of 1-2% on the loan amount. Women applicants are offered 0.5% on the interest rate applicable. It empowers them with quality studies.
Ideally, your Overseas Education Loans would cover up expenses such as 100% tuition fees/ exam fee for college/university, examination fee, Library fee and laboratory fee, hostel or mess charges, charges for acquiring equipment, books and instruments, Purchase of laptops or personal computers (if required), Caution deposit, refundable deposit, building fund after procuring original receipts and any other expenses required to complete the program such as educational tours, projects and thesis.
The most alluring part of education loan is that you don’t have to start repayment right from the day one of availing the loan. Instead, you can start the repayments after six months to one year of the course completion. It is termed as moratorium period. Expert’s advice opting for the part-time job will help you pay towards the interest rate and it will significantly bring down the loan costs. Thanks to the internet facilities you can now make Educational Loans application online. Right from your homes or colleges you can sit and compare interest rates, processing fee, principal amount, etc and then make an informed choice.
Apply for Auxilo education loan online and follow your passion with ease!
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