FAQs

If students choose to repay their loan within 6 months of receiving the funds, they will not be charged any fees for closing their education loan ahead of schedule.

The loan amount will be disbursed in Indian Rupees (INR) and will be transferred either to the co-applicant’s bank account or directly to the college/university, depending on the specific requirements of the situation.

Students have the option to apply for a loan once they have received their i20 from the college or university. However, there are certain benefits to obtaining a loan prior to getting  the i20 document.

Before applying for a loan, students have the opportunity to verify their eligibility in advance.

The student does not need to be concerned about funds when applying for a visa, as they are eligible for a loan.

Securing a loan prior to applying for an i20 can greatly increase the likelihood of receiving a positive response from the university regarding admission. This is because demonstrating that the full amount of required funds is readily available can provide a sense of financial security to the university, making them more inclined to accept the application.

The i20 document is issued by American universities to students who have been accepted for admission. Prior to receiving the i20 document, students are granted admission after applying to a university. Once they have been admitted, students must then apply for the i20 document by demonstrating that they have the necessary funds as required by the university.

Typically, this sum encompasses a combination of four distinct components over a span of approximately nine months. These components include tuition fees, living expenses, health insurance, and expenditures for dependents, among various other items.

There are two primary methods for showcasing the necessary funds: self-funding, where the student or a family member has the required amount in their bank account, or through an education loan, which can be evidenced by a sanction letter or proof of the amount disbursed.

The final result is determined by various factors, such as the individual’s profile, the co-applicant’s salary, and the monthly EMI they allocate towards the outstanding loan amount. By simply submitting their loan application to us, students can streamline the process.

We will carefully evaluate their eligibility for the loan and make our best efforts to secure the highest loan amount possible, all while keeping the interest rate affordable for the student.

Certainly. Students who are admitted to reputable colleges or universities are given priority when it comes to receiving benefits like higher loan amounts and lower interest rates, even if their financial background is not particularly impressive.

Any individual who is either employed or self-employed can serve as a sponsor.

• Father, Brother, Mother, Sister
• Maternal Uncle or Aunt
• Paternal Uncle or Aunt
• Cousin Brother

Individuals employed in foreign countries have the opportunity to sponsor or become co-applicants.

The repayment of the loan’s equated monthly instalments (EMIs) commences once the course has been successfully completed, following a grace period of either 6 months or 1 year. It is important to note that the maximum duration for repaying the loan is 10 years.

The application for an Education Loan can be submitted or obtained at various stages during the preparation for studying abroad.

Prior to admission – Individuals have the opportunity to apply for an Education Loan. This loan can be obtained upon receiving the final admission letter from the university, as the approval of the loan is contingent upon the availability of funds.

The primary choice for students attending universities in the United States is to opt for a loan. This loan is typically used to obtain the I-20 form, with the loan amount covering tuition fees, living expenses, costs for dependents, health insurance, and any other expenses required by the university.

Prior to obtaining a Visa– Individuals have the option to apply for an Education Loan. This can be done subsequent to receiving the final admission letter, which serves as proof of funds required for the student visa application. The loan amount may differ depending on the country of study.

An example of this would be the requirement for a Student Visa for the United States, which necessitates that a student demonstrate funds that are 1.5 times greater than the amount indicated on their I-20 form.

Education loans can also be obtained to cover the expenses of upcoming semesters if a student has already funded their journey to the destination country but requires additional funds.

Education loan balance transfers are possible when a student has settled their university fees using their initial education loan. This service remains available even after the student has arrived in their destination country.

Opting to use a property in India as collateral for an education loan in order to secure a lower rate of interest may not be the most advantageous decision in the long term. This is especially true when considering the availability of unsecured loans, which can be obtained without the need for property as security. Depending on the student’s academic and financial background, unsecured loans of up to 50 Lakhs are a viable alternative to traditional secured loans.

An unsecured loan provides borrowers with the opportunity to secure up to 50 lakhs in funds, albeit with a slightly higher rate of interest ranging from 2% to 3% compared to secured loans. Despite this variance in interest rates, the impact on the overall cost over the loan term may not be significant. One of the key advantages of opting for an unsecured loan is the absence of the risk of losing any mortgaged property in the event of default on repayment.