Elan Overseas Education Loan

As opportunities for education and employment are growing across the globe, students aspiring to study abroad are increasing day by day. Universities abroad offer multitudes of program choices thus promising high flying career options. Although sky is the limit for academic and career options, we definitely have a limit for expenditure. Studying abroad can be very expensive as the entire tuition fee and stay cost has to be arranged by us. This is where foreign education loan comes as a saviour. It is very crucial to select the right bank or financial institution for overseas education loans. But, in order to select the appropriate one, it is important to know about the type of loans. There are 2 types of Overseas Education Loans available:   1.    Secured Loan 2.    Unsecured Loan Secured Loan: Secured loan means, a loan taken based on your assets like Immovable property, Fixed Deposits in Banks, LIC Policies, Government Bonds, Shares etc. Nationalise

Getting education loans for studying abroad is a huge task for the parents and the student. Loans that are disbursed against collateral, also known as secured education loans have the following benefits; a. A lower interest rate than unsecured loans and, b. The lender institution disburses a higher amount. However, there may be certain issues faced by borrowers regarding the collateral that is mortgaged. In this article, we seek to introduce the concept of top-up loans and how they help borrowers in the process of getting Student Loans for Studying Abroad . The article also explores various alternative options of top-up loans that may be utilized by prospective borrowers.   What is a Top-Up Loan? A top-up loan is of immense benefit to borrowers with a single asset acting as collateral, and the requirement of multiple loans. A top-up loan may be explained with the following example. Suppose Mr. X has a bungalow worth INR 95 lakh which he has used as collateral to fund hi