Studying at a reputable university, particularly in foreign institutions, is a dream of many students, but finances become a barrier in their way. But what if someone suggested that there is a solution to this problem as well? A student loan for study abroad is the solution. We take out loans to buy our dream house, dream car, and personal necessities, so why not for education, which is the foundation of our lives? An education loan is like a rock of support for students who want to shape their lives in a manner that will reward them later. Studying abroad will not only provide students with excellent educational opportunities but will also assist them in shaping their professional lives.
The number of students studying abroad has steadily increased in recent years, as has the number of financial institutions. Financial institutions keep on fulfilling millions of dreams every year and have proven themselves as a strong backbone for students wanting to chase their dreams.
Students looking for an education loan or who have already applied somewhere have faced many problems. Don’t worry, you have your guide for your question: the education loan guru. Education Loan Guru has all the solutions for problems related to education loans.
Eligibility requirements for education loans for international studies
The eligibility criteria for public, private, and NBFC banks differ. To be eligible for education loans, students must meet the requirements of financial institutions that are highlighted below:
The above are the basic eligibility criteria; additional eligibility conditions will always be made clear to applicants by the lending institution, and they will vary from bank to bank.
Students who are eligible and meet all of the requirements can contact the Education Loan Guru, and we will assist you in completing your loan application to save you time and effort.
Applying for an education loan through the bank turns out to be a stressful process. An individual needs to follow the given steps to apply for an overseas education loan:
Below are some difficulties while applying for an education loan directly through banks:
Education Loan Guru streamlines the process for students and banks. They collect all the documents in one place, which is easy to access. Even though the procedure to apply for a student loan to study abroad is easier, you might check it out below:
Application procedure for an education loan:
"An early bird is never late." This quote fits here well in this condition, and it is always recommended for students to apply for an education loan early. An early application will not only save time and effort but also ensure favourable results for the applicants.
There are multiple steps in the entire application process for an education loan. In the first step, all the KYC documents along with the loan application will be submitted to the loan provider (public, private, or NBFC). We have created a step-by-step checklist of the necessary stages of the pre- and post-application process to assist students in getting a clear picture.
The list of documents required by a student at the time of filing an application form is given below:
The pre-application process for a foreign education loan requires the submission of a loan request along with evidence of identity and income. Education Loan Guru will assist you in lodging the loan application to help them have a hassle-free process. Below is the complete roadmap for how your application process will become smooth:
Students have to fill out the application form by registering on the Education Loan Guru’s portal. By registering on our portal, you will be one step closer to studying abroad after receiving the best funding opportunity from the bank and having your loan approved.
The CRM team will contact the student within the next 24 hours to explain the next steps. There are no fees associated with requesting a call back, and students can ask any questions they have about an abroad education loan.
To reduce the amount of huge and lengthy paperwork, we have introduced in our system a single application form to cut short on time and effort and ensure a smooth, easy, and hassle-free process. Students have to submit one application form, which will be used by our team to process it at different preferred banks.
Students will be assigned a dedicated client account manager, who will work closely with the client and the bank representative to speed up the process. The client account manager will be a personal guide for all loan queries of students, from the inception of the loan application until the loan disbursement. The client account manager will stay with students to help them at each and every moment.
Once all the documents are approved and formalities are processed, the loan amount will be sanctioned. Post-loan sanction procedure, we make sure a timely disbursement of the loan amount as per bank policy.
In conclusion, abroad education loans are the saviour for students who plan to study abroad. However, there is a proper process in which an education loan is filed, keeping in mind the eligibility criteria and required documents.
By Education Loan Guru
