Elan Overseas Education Loan

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...

Studying abroad is a huge step in one’s life and it is extremely important to consider all the possible factors while taking this step. Expenses play an important role here as studying in a foreign land come with its own cost attached to it. In order to arrange for fund, a large number of students avail student loans for studying abroad . In this blog, we will let you know about the overseas education loan process of various Indian Banks and the factors that should be considered.  Eligibility Criteria for Education Loan The first step is to check the eligibility criteria for education loan. Mentioned below are the general requirements for the applicant that majority of the financial institutions follow: An applicant should be a citizen of India. An applicant must be 18 years of age. An applicant must possess a decent academic background. An applicant must have secured admission to a recognized foreign university. An applicant must have applied for a job-oriented technical or profes...

Getting a scholarship for an overseas education is a good way of reducing the overall education cost of higher education in a foreign land. There are various scholarships available for international students on the basis of various criteria like merit-based scholarships, country-based scholarships offered by government of that particular country, course-based scholarships offered by the universities or departmental scholarships. Apart from the above-mentioned scholarships, there are scholarships available on the basis of student’s race and religion. But the question is how to find and where to apply for these scholarships.  In this blog, you are going to know about various ways through which you can find out a suitable scholarship for your overseas education according to your eligibility and requirements. You just need to follow below listed tricks. Check out the university website:  The first and foremost step to find out a suitable option for your scholarship is to inquire. ...

Hello Reader, The fact that you have landed on this page proves that you are applying for an overseas education loan to study abroad. Congratulations on that! Either you are new to the loan specific terminologies or want to double check your knowledge. Either ways, you have landed on the right page. Have you read our 1st article - Basic Overseas Education Loan Terminologies – Glossary 1 which covers the 1st part of the loan terminologies?  This article is in continuation to it with the 2nd part of Glossary to help you understand better. You can find the 1st article on the same page.   Read on to get introduced to the next set of foreign education loan terminologies. Interest Rates related Education Loan Terms: Accrued Interest: The interest earned by the lender and payable by the borrower is called as Accrued Interest which is calculated on top of the unpaid principal balance on a daily. Floating Interest Rate: The interest rates which are likely to change over a short period ...

  What future holds for them is the question that is always ringing in the minds of study abroad aspirants and international students in this time of distress. As per a survey done by the union of study abroad advisors, nearly 72% of the candidates still want to achieve their dream of studying abroad. Although many students have made up their mind for overseas education, they are facing financial constraints and are looking to arrange finances wanting to opt for student loans for studying abroad . However, they are not able to move ahead with their plans due to the current lockdown. Read on to know all the updates regarding the banks during COVID-19. How the present situation has impacted availing education loans? Financial institutions are continuing with their work even as the lockdown continues. Banks and Non-Banking Financial Companies (NBFCs) are waiting for some clarity from universities abroad for current loan disbursements, and students are waiting for visa approv...

    If studying in US is on mind, then the biggest challenge of arranging the funds for higher education in US always stays on mind. Out of the whole exercise, arranging the funds is one of the most crucial part. In order to resolve the complexity of financing the higher education various banks have understood this scenario and are giving education loan for studying in USA . Through this article you will gain insight on the factors to keep in mind before applying for a secured loan, the benefits of taking a secured loan and the following requirements. Read on. Factors to keep in mind before applying for a secured education loan to study abroad Before beginning the process of loan application, it is important to know how much money you require and how much you are going to pay from your own pocket. Apart from this the other important factors to consider are as follows: •    Finalising the University and the Course you want to pursue •    Estimation...

    To get a foreign education is indeed a great investment but surely nor a very economical one. A range of funding options is searched and surfed by the maximum students to cover a total cost of attendance. A common funding source for studying abroad is overseas education loan after savings. It is advisable to start the process of foreign education loan as early as possible.  To get accepted in a university by May, it is required to prove your funding to the university by mid-April often, you’ll need to prove your funding to your university by mid-April to get accepted before May. It might take a little time based on your loan providers. Considering the Indian students there are 4 options from where foreign education loans can be taken: •    Domestic banks •    Non-banking financial companies (NBFCs) •    US banks •    Online lenders, like Prodigy Finance •    Education loans from domestic banks ...

“I want to graduate from a foreign university!” – this dream is highly mushrooming among students in India with the increased possibilities to study abroad. But this dream often gets a break on the way instead of accomplishing it straight away just because of the costs and expenses involved. Here is a way how the road to accomplishing the dream to study abroad can be smoothened. Students can apply for scholarships for their studies if they do not want to spend anything from their pockets, nor take loans from some bank nor ask for financial assistance from someone. For students that aren’t aware of the scholarships that can be applicable, here are some popular scholarships to study overseas . # Indian Government scholarships for Overseas Education:  The Indian government has special provision to encourage students to excel academically in studies abroad. •    These scholarships that are offered are merit based as well as student – caste specific, minority...

Over the years, education loans have become the most reliable source of funding higher education overseas. There has been an exponential rise in the number of Indian students opting for studies abroad in the past two decades. The only catch here is the heavy cost. This burden is eased out thanks to the availability of education loans for studies abroad . Importance of Education Loan Education costs are on a steady rise and thus getting an overseas education loan helps to study abroad. Apart from the tuition fees, education loans also help the applicant with the living costs and any other study related expenses. Mentioned below are a few important reasons why you should opt for an education loan and especially through E’LAN: There are numerous advantages of taking overseas Education Loans through E’LAN. Easily Available: Apply student loans for studying abroad through E’LAN as most banks in India provide education loans as a priority product which are tagged with us. Avail...