By Harminder Singh
Study Abroad
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Studying abroad is a dream for many students. However, it can be expensive. Education loans can help make this dream a reality for Indian students.
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Studying abroad offers numerous benefits like better job prospects, exposure to new cultures and languages, and personal growth.
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There are two types of education loans: secured and unsecured. Secured loans require collateral, while unsecured loans don't.
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To be eligible for an education loan, you must be an Indian citizen, have secured admission to a recognized university, and have a good academic record.
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You will need to submit proof of admission, academic records, and other documents to apply for an education loan.
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The loan amount varies depending on the course and the country you plan to study in. Interest rates are usually lower for secured loans.
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You can start repaying the loan after completing the course. The EMI will depend on the loan amount and the repayment period.
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The loan amount is usually disbursed directly to the university in installments to cover tuition and living expenses.
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Some lenders may require a co-applicant, and in some cases, collateral may be necessary for a secured loan.
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Studying abroad is a life-changing experience. With education loans, it's now more accessible to Indian students than ever before.
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