Elan Overseas Education Loan

Studying in a foreign country is a critical life-changing decision and rationally correct to stay ahead in the global competition. While aiming for globally renowned universities, course and the financial investment should be taken into consideration. But a major problem that holds the students and the families back from taking the big leap is insufficient to finance. Over the past few years, the efflux of Indian students for studies abroad has drastically steeped. More and more students want to pursue higher studies abroad from a globally recognized educational institution. To foster confidence in these ignited minds, the government has introduced and implemented scholarship schemes. In the same context, the Indian Bank Association framed a comprehensive Education Loan Model adopted by all the banks to support students financially for studies abroad. A basic understanding of overseas education loan , its kinds, the process, the eligibility criteria, the documents required, et...

Many talented students hold back from pursuing higher education in foreign countries because of an insufficient finance. The predominant reason for this is lack of awareness with respect to the funding options for overseas education that are at disposal. There are several Scholarship schemes funded and sanctioned by the Government of India for studying abroad. Also, students can take education loan from the banks. In this article, we’ll try to explore what are the financial aids provided to the Indian students for studying abroad. Scholarships and Fellowships Financial assistance is given to the meritorious students seeking admission in reputed foreign universities and education institutions. The Ministry of Human Resource, (MHRD) India facilitates fellowships awarded by foreign countries like China, South Korea, Israel, Japan, Italy, Mexico, and Sri Lanka to Indian students under Educational Exchange Programmes. A student applying for PhD, master’s or bachelor’s degr...

Almost all students and parents prefer to take an education loan to fulfil the financial requirements when it comes to studies abroad. The studies abroad education loan covers course fee, exam fee, cost spent on study material, accommodation charges, insurance, travel expenses and other miscellaneous expenditures as well. Also, it is crucial that parents and students comprehend the technicalities involved in the education loan process, its pros and cons before taking such a big decision. In this article, we will try to understand the kinds of overseas education loan that a student can get from the banks. There are two types, one is the secured education loan and another one is an unsecured education loan. Let’s look at the details one by one. Secured Education Loan - If you are planning to take a loan of 35-45 lakhs for your master’s program or 75 lakhs and above for your under-graduation, then applying for a secured overseas education loan is the right decision....