Elan Overseas Education Loan

  When it comes to pursuing higher studies abroad, one of the major concerns is how to finance the foreign degree. Majority of the aspirants then turn to availing an education loan. In India, there are many public banks, private banks like State Bank of India, Bank of Baroda, Axis Bank, ICICI Bank and NBFCs like HDFC Credila and Incred that offer a loan to the Indian students. In this blog, we are going to take a closer look at various aspects of overseas education loan offered by State Bank of India. So, let’s get straight into it!  State Bank of India, one of the prominent financial lenders in India is the first choice of study overseas aspirants when it comes to availing an overseas education loan for foreign studies. Alike all other financial institutions, SBI also offers two types of education loans i.e., Secured Education Loan and Unsecured Education Loan. SBI being a government bank, there are various advantages of offering a foreign education loan from the aforesaid b...

The next step after receiving the offer letter from the Australian University is of arranging for funds to finance an international degree. The cost of studying in Australia is quite high on pocket due to which majority of the students apply for an overseas education loan.  In India, there are majority of the financial institutions that offer a foreign education loan to the Indian students. The loan generally covers all the necessary expenses, right from tuition fees, examination fees, travel expenses, cost of book purchase, laptops etc. The procedure to apply for the loan is quite lengthy and confusing and here are some tips to make it simple.  Tips to Simplify the Process of Applying for Education Loan 1. Be Thorough About Education Loan Process Before applying for an education loan, make yourself aware about the entire education loan process. Know about the timeline of an education loan, different types of overseas loans and the four phases involved in an Australian overse...

  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...

Over 1 lakh students migrate to Australia every year for pursuing higher education and all the credit for this goes to top-class education offered at the Australian universities, high standard of living and ample opportunities for the international students. Australia is one of the most expensive countries for higher studies as the cost of education in the global universities is higher as compared to the other study abroad destinations. An average tuition fee of a program at any of the Australian university ranges from AUD 25,000 to AUD 35,000 annually. However, it also depends on the university, it’s ranking, chosen program and duration of the course. Education Loan to Study in Australia: Indian students can avail two types of education loan to study in Australia to pursue their higher education from the global university situated in the country. Let us know about the available options: 1. Secured Education Loan According to the regulations of the Australian Embassy, Ind...