Loans for Study Abroad Programmes

A student loan for overseas study is a product created especially to help students pay for their post-secondary education and the associated costs, such as tuition, books, and living expenses. It may be different from other loans in respect of interest rate, which may be considerably lower and the repayment conditions might be rescheduled while the student is still enrolled.

A family’s income and assets may not always be enough to pay for a student’s education. Under these circumstances, a student loan must be obtained through a bank or other non-banking financial organization (NBFC). All or a portion of the cost of school may be covered through a student loan. A study abroad education loan assures that one can complete a university degree without any financial limitations.

The requirements for receiving student loans to study abroad are as follows:

Browser’s profile

When applying for an international student loan, the GRE score is crucial. The GRE score, total academic record, and employment history are important considerations when applying for a loan.

Profile of co-borrower

When requesting a student loan to finance an international education, the co-profile borrower’s is equally important. While requesting a foreign education loan, the applicant’s financial history, geographic location, and assets possessed are all crucial factors.

University ranking

Furthermore, significant is the university’s ranking, to which you have applied. The likelihood of getting a loan increase with the university’s ranking. Leading colleges throughout the world also provide better careers, enhancing the security of student loans for abroad study.

Underwriting norms

Underwriting norms are standards set by loan providers to guarantee the security and safety of loans. These are given out to evaluate a person’s eligibility for a study loan abroad, the amount of loan the business is willing to offer, and the interest rate at which the study loan abroad may be offered.

Below documents are required when applying for student loans for studying abroad-

KYC documents:

• PAN card
• Driving license
• Aadhar card

Address proof:

• Valid water/electricity/ LPG bill
• Voter’s ID card
• Current house lease agreement
• Valid passport

Academic record documents:

• 10th Result
• 12th Result
• Proof of admission
• Undergraduate result semester-wise (if necessary)
• Entrance exam result – Abroad institutes (GRE, GMAT, TOEFL, etc.)
• Entrance exam result- Domestic institutes (CAT, CET, GMAT, CMAT, JEE, NEET, GRE, etc.)