How to take education loan for abroad studies?
Asked by Pradeep Anoor 8 months ago
Attending a grad school abroad can be the best decision for your career, but finding ways to pay for school can be challenging. Your initial consideration would obviously be the programs and the location of the university, but there’s no way you can ignore the cost of education at the university.
A student loan for abroad is a loan product designed specifically to help students pay for post-secondary education and the associated fees - tuition, books and supplies, and living expenses, to study abroad.
Eligibility Criteria and Documents Required to Apply for a Study Loan for Abroad
GRE score is an important factor in getting a student loan for abroad. Along with the GRE score, the overall academic performance along with the work experience also matter while getting a loan. Not to forget that the most crucial factor to meet an education loan for abroad eligibility is Indian citizenship.
The co-borrower’s profile also plays an important role in getting a student loan for study abroad. The financial background, location and owned assets are some important factors to get hold of a foreign education loan.
The ranking of the university in which you have taken admission also matters. Better the ranking of the university, better chances of getting a loan. Top universities across the globe also offer better jobs which increases the security on the foreign education loan.
Underwriting norms are the guidelines established by loan vendors to ensure that safe and secure loans are issued. They are issued to decide if a study loan for abroad should be issued to a person or not, how much loan the company is willing to issue and at what interest rate the study loan for abroad should be issued.
Let us now look at the documents required for abroad education loan:
A completely filled application form
Acceptance letter from a recognized university
Application Process to Apply for a Student Loan Abroad
Choose a loan for foreign studies, which is the most suitable for you
Check all information including moratorium period, repayment tenure, education loan for abroad studies by Indian government interest rate, etc
Visit the official website for the education loan you’ve chosen
Fill in the application form
Scan and upload the required documents
Wait for the decision
If any of this feels like a hassle to do by yourself, I suggest you directly get in touch with Study Abroad Experts here. They have been helping students get their studies funded for a long time now. I am sure they will not just help you with all the required information but also assist you in the entire process for FREE.
Hope this helps!
What are the requirements needed to join Masters in Cyber Security in Candian Universities?
Meeting the eligibility criteria is extremely important if you want to go for cyber security masters in Canada. While the exact requirements differ with programs chosen and universities admitted to, the general eligibility needs have been summarized below.
Educational criteria : Foremost, you need to have an undergraduate degree in a related field. Cyber security, computer science, information technology, etc. are some examples. The exact minimum GPA differs, but on average, universities require 3.0 or more. Having a background in mathematics can also be helpful here.
English language test criteria : International students that emerge from non-English speaking nations or those who did not have English as their first language need to give an English language proficiency test. The IELTS or TOEFL are two prominent tests widely acceptable worldwide. The minimum score required again varies, but the average required band score for IELTS is 6.0 or more.
Canadian study permit : As an international student, you will need to have a Canadian study permit. The document is issued by the government and allows a student to study in all DLIs of Canada. It is necessary to apply for this before you travel to Canada. The permit lasts for as long as your course does, and gives an extra 90 days. You can either prepare to leave the nation or apply for staying back.
Prior work experince : Although not necessary, prior work experience when applying for a masters in Canada is like the gold dust on your profile. It boosts your student application and raises your acceptance rate. Moreover, it is highly beneficial for post-masters job applications. Internships and other volunteering programs also count.
You will also need certain documents to complete your registration as a student for your master’s degree:
Bachelor’s degree or other proof of prior education
English language proficiency test record
Official GMAT/GRE scorecard
Statement of Purpose
Letter of Reference
If you need any help with shortlisting the best schools in Canada for CyberSecurity based on your profile, I suggest you directly get in touch with Study Abroad Experts here. They will analyse your profile and not just help you with relevant information but also assist you in the entire application process for FREE.
Hope this helps!
Have another Question?
Get Answers from Experts within 12 hours