Is it possible to get both a loan and a scholarship for my masters abroad?

Question

Preeti Singh · Accepted Answer

Yes, it's absolutely possible to get a loan and a scholarship to go abroad for your master's. Many students combine them both to manage the total cost, as in many cases, a scholarship is not enough to pay all expenses. These scholarships, which can be given by universities, government institutions, or private ones, reduce the financial burden on you since you are paying at least part of your tuition or living costs. With a loan to finance education, you have the ability to pay all the remaining and balance that amount.
When you apply, it is important to know that if you have received a scholarship, it can add strength to your loan application since the bank will then understand that part of the funding has already been assured. A few banks are also more flexible with the terms offered to students with scholarships in India, for instance SBI and HDFC Credila.

Is it possible to get both a loan and a scholarship for my master's abroad?