If I have got a conditional letter and I’m not able to manage funds and I actually don’t want to lose that opportunity in such case what can I do?

Question

Tejaswini Malik · Accepted Answer

I understand that finances play a key role when you are planning your education abroad. The budget is probably one of the first few things that factor in the final decision. The affordability of tuition fee and the living expense should not be the reason for the student to drop their dream and hamper their career.
 
While scholarships could be very helpful to keep this dream alive , most times it is not possible for each student to avail one for themselves. Thus, loans are the safest option which people rely on. And don&rsquo;t be scared loans doesn&rsquo;t have to be a burden. There is a wise approach that you can take. 
I have curated a list of banks that offer you the cheapest loans along with their interest rates, so that it gives you a bird&rsquo;s eye view. 
 
Axis Bank - 13.70% P.A
HDFC Bank - 13.8% P.A
Bank of Baroda - 9.85% P.A
SBI - 13.70% P.A
Federal Bank - 13.6% P.A
The tenure that you get to pay off the loan from all of these banks is 15 years, so you don&rsquo;t have to worry if you would be able to pay off the debt or not. You can easily work through your EMIs and look for jobs that fetch you good salaries and growth. As a student and as a working professional, you will have a financial back that could help your career progress. 
In the last year itself, 76% of study aspirants took loans for their masters abroad which shows that the process is very feasible by example.. We&rsquo;ve personally helped around 2000 students with their loan process. So until your family or you yourself have managed to save up enough money, you should definitely consider taking a loan which suits your requirements.
 
If any of this feels like a hassle, you can directly get in touch with experts from the industry who have been doing this for a while and can help you accelerate the process. They will will make sure none of your study abroad dreams get hampered because of some financial constraints.
 
Let me know if this helped and if you need any other information from my end.

Rohan Dharamchand · Answer

Facing financial hurdles after receiving a conditional offer can be challenging, but there are several strategies you can employ to secure your spot:

Negotiate with the University: Reach out to the university&rsquo;s financial aid office to discuss your situation. Sometimes, universities can offer deferred payment plans, or they might guide you towards late-application scholarships.
Look for Scholarships: Don&rsquo;t restrict yourself to the university&rsquo;s scholarships; look for external scholarships as well. Many organizations aim to support international education and may have funds available especially for students in tight situations.
Consider Education Loans: Explore loan options. Many banks and financial institutions offer education loans with reasonable repayment terms. Some countries also have specific educational loan programs for international students.
Alternative Funding Sources: Investigate crowd-funding platforms or consider asking for support from family or community members. In some cases, small grants or funds are available from local community centers or non-profit organizations.
Request for an Extension: If it's just a matter of time before you can arrange the funds, request an extension for your deposit or tuition fee payment from the university.

Each of these options requires proactive communication and a clear understanding of deadlines. Make sure to approach the situation with a plan and keep the university informed about your efforts to secure funding.