Simplifying Overseas Education Student Loans
Studying overseas might change your life, but it can also be pricey. The cost becomes unexpectedly exorbitant when you factor in the cost of applications, admissions, moving, and living expenses for students. You can apply with total confidence with Ais Overseas student education loan services. We can assist you in obtaining the greatest service at the most competitive prices because we have relationships with some of the top banks and lending organizations.
Government or commercial banks—from your home country or a foreign one—in the country you choose to study can provide you with a student loan for study abroad. Since most teenagers lack the credit history necessary to qualify for a loan of this magnitude, co-signing (together with parents or legal guardians) is fairly common for private student loans.
Certain foreign education loans are determined by your credit score, while others are determined by your financial necessity.
How to Get an Education Loan for Abroad Studies
It takes time to complete the loan application process, get it approved, and have it disbursed. Whenever possible, it is best to apply for the loan as soon as possible.
- First, it needs to be confirmed whether or not the chosen course for an international education is approved by the banks.
- It is necessary to determine how much loan will be needed and how much the student can raise on their own.
- To determine which student loan option best suits their needs, it is necessary to analyze the offerings of several banks for international education.
Documents Required for Education Loan
- Complete Education Loan application.
- Passport-sized pictures of both the applicant and the co-applicant
- Both the applicant's and the co-applicants photo ID
- Evidence of both the applicant's and the co-applicants residency
- The applicant's certificates and mark sheets
- IELTS, GMAT, GRE, and other relevant score reports
- Admissions letter from the college or university
- Statements from the co-applicants bank for the last six months
- Evidence of the co-applicants income
- A house, an apartment, or non-agricultural land may be used as collateral in this situation.
Note:Depending on the bank's policies, the criteria may change.
Education Loan Eligibility in India
Several common factors that are taken into account by the majority of banks are as follows:
- The pupil needs to be a citizen of India.
- If the borrower is not eighteen, the loan must be obtained by the borrower's parents.
- A strong academic foundation is a prerequisite for the candidate.
- The candidate needs to have been accepted by an accredited international school, university, or other establishment.
- Banks favor job-oriented education, thus the applicant's chosen course must be professional or technical.
AIS Overseas will act as a middleman between you and the bank or lending institution to process your education loan as part of our comprehensive support and one-stop solution services for your Study Abroad package.
