Elan Overseas Education Loan

The coronavirus pandemic has hit just about everyone in some way or the other. Be it working professionals, students or overseas education aspirants, the pandemic has been hard on everyone. Aspirants who have applied for a foreign education loan to fund their international degree, are now in a dilemma if they can opt for a loan extension or not. In this article, we are going to talk about the extension of an overseas education loan and how is it applicable for both secured overseas education loan and unsecured overseas education loan.  Majority of the international universities have closed for the time being or are recommending students to study one semester online and then move to the university location when things are normal. In such a scenario, students are left with the questions like if they should defer their overseas education loan or what should be done in this scenario. Deferment in Education Loan:  Deferment in an overseas education loan means an extension of an ed...

New Zealand, one of the rapidly growing overseas education destination offers excellent education to the international students at an affordable tuition fee. However, there are few students who finance their higher education in New Zealand with the help of overseas education loan.  The cost of education in New Zealand depends on the course that the student has chosen to pursue. If an aspirant is going for an undergraduate degree, the tuition fee at New Zealand University ranges from $20,500 to $25,000 for a year whereas for a master’s degree, it costs between $19,000 to $29,000. When it comes to an MBA degree, the tuition fee ranges between $31,000 to $50,000.  Apart from the tuition fees, students will be responsible for bearing the cost of living while their stay in New Zealand. The average cost of living in New Zealand falls somewhere between NZ$13,000 to NZ$16,000 for a year.    The New Zealand Embassy accepts two types of overseas education loan for studying in ...

  At the time of availing a loan for higher education abroad , it is of utmost importance to do a thorough research about the various terms and conditions of the financial institution. Otherwise, a lot of times students have to opt for education loan transfer if they are not satisfied with their existing financial lender. What is an Education Loan Transfer? An education loan transfer is the process of transferring the education loan application to another bank. For an instance, let us consider that you have availed an overseas education loan from a Non-Banking Financial Corporation due to their shorter processing time but after a time span of one or two years, you are not satisfied with the education loan repayment policy of the NBFC and hence wish to go for a student education loan refinance from a public bank. In such case, you can apply for an overseas education loan transfer from the NBFC to a nationalized. Follow the steps below for an education loan transfer: 4-ste...

With the rising cost of higher education in India and overseas, the majority of students opt for education loan to fund their studies. Study overseas aspirants willing to pursue their education at international universities situated overseas often look for financial aid and this is when the overseas education loan comes to the rescue. In order to apply for an overseas education loan, first of all, students must have received the offer letter from the university. Based on the conditional or unconditional offer letter, they can approach any financial institutions to apply for an overseas education loan. In India, there a bunch of financial institutions like private banks, nationalized banks and NBFCs that offers education loans. These institutions offer two kinds of overseas education loan i.e., secured education loan and unsecured education loan. Every financial institution differs in factors like margin amount of the loan, processing fees, repayment tenure, interest rate etc. He...