Elan Overseas Education Loan

    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...

    The students who aspire to study abroad more or less face difficulty in financial help. Education loan to pursue higher education is one of the main means, whereas dome receive funds from their parents and relatives too. By applying some interest on the principal amount various banks and NBFC’s sanction foreign education loans.  Although taking a loan is atleast a liability for 15 to 20 years, there definitely is a great news for all students and education loan-seekers because the interest paid falls under ‘Deductions’ on the Income Tax returns. You don’t need to pay tax on the interest payment made towards education loans under the Chapter VI-A of Section 80E. Education Loans and Section 80E A lot of tax can be saved through your payment of higher education. If one is a legal tax payer then the person’s spouse, children or parents can claim the Income Tax deduction on educational loans taken for higher studies for paying the interest on your education loan.   In...

    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 ...

More and more international students are moving abroad in the pursuit of world-class education and global recognition by pursuing a foreign degree certificate. Indians are not an exception in this. The number is increasing year after year due to 2 reason, primary being the craving of a foreign degree to upgrade oneself and the secondary being the funding options for overseas education as it is not that economic as the number of international students studying abroad shows. The 2 most common and religiously helpful options to fund foreign education are listed below. 1)       Scholarships for overseas education 2)       Education Loans for studying abroad There are numerous scholarships that cover 50-100% tuition fee of the academic program. In this article you will get information regarding the numerous scholarships granted by the Indian Government and scholarships from abroad universities for international students as well. ...

Is overseas education on your mind? If it’s a yes then even before you apply for an education loan online or offline, it is important for you to know the eligibility criteria and the documents required to be submitted. The first step concerning your overseas education loan is that s ome documents are assessed by the banks. 1.       The application form that you’ve filled 2.       Passport-size photograph of the applicant and the co-applicant 3.       Identity proof such as PAN card, Aadhar card, Voter Id etc 4.       Percentage: An applicant must have secured at least 60 % in the previous qualifying examination with fewer backlogs 5.       Entrance Exam Score 6.       Admission Letter 7.       Bank Statement 8.       Collaterals As you all know there are 2 kinds of ov...