Guide to Education Loans for Studying Abroad
Guide to Education Loans for Studying Abroad
In today’s world, pursuing higher education abroad has become an aspiration for many students. However, financing such dreams often requires robust financial support. At Europe Study Centre (ESC), we understand the unique needs of students and provide tailored guidance to ensure their academic journeys are financially secure.
Why Choose Europe Study Centre?
ESC offers comprehensive and cost-effective service packages designed to align with the diverse academic and financial needs of students. With a team of experienced professionals and a strong infrastructure, ESC provides personalized study solutions, including assistance with:
- Education Loans
- Foreign Exchange Formalities
Our close partnerships with leading banks enable us to connect students with education loan opportunities, ensuring a seamless process for those planning to study abroad.
Guide to Education Loans for Studying Abroad
When applying for an education loan, keep the following in mind:
- Co-applicant Required: Typically, a parent, sibling, or spouse serves as a co-applicant.
- Third-Party Guarantor: Needed for loans between ₹4 – 7.5 lakhs.
- Collateral: Required for loans exceeding ₹7.5 lakhs.
- Repayment Timeline: Loan repayment begins 6–12 months after course completion.
- Recovery Process: If the student defaults abroad, the co-applicant becomes responsible for repayment.
Loan Evaluation Factors / Guide to Education Loans for Studying Abroad
Banks and financial institutions consider the following before approving loans:
- Reputation of the institution and relevance of the course.
- Creditworthiness of the co-applicant or guarantor.
- Pre-approved courses and institutions listed by the lender.
Loan Covers the Following Expenses
Education loans typically include:
- Tuition fees.
- Examination, library, and laboratory charges.
- Cost of books, equipment, and uniforms.
- Travel expenses.
- Hostel fees and caution deposits.
- Study tours, exchange programs, and project work.
Documents Required for Education Loans
To apply for a loan, you will need to provide:
- Mark sheets from previous educational qualifications.
- Admission confirmation letter.
- Expense schedule for the course.
- Scholarship confirmation, if applicable.
- Two passport-sized photographs.
- Borrower’s last six months’ bank statements.
- Latest income tax returns (up to two years).
- Statement of assets and liabilities.
- Proof of identity and residence (if not an existing customer).
Study Abroad Opportunities with ESC
At ESC, we guide students to the best universities in countries like Germany, Sweden, Latvia, Lithuania, and the Czech Republic, offering tailored advice and support. Our services ensure students find the right courses and scholarships to match their aspirations.
Contact Us
Head Office – Kerala
CC 36/1951 D7-12, Kaloor Tower, Opp. A.J. Hall, K.K. Road, Kaloor, Kochi-682017, Kerala, INDIA
Phone: +91 484 4046660 | +91 484 4046663
Email: info@europestudycentre.com
Corporate Office – Chennai
No 20, APEX Chambers – 5th Floor, Thyagaraya Road, T-Nagar, Chennai – 600017, Tamil Nadu, INDIA
Phone: 044-45513999 | +91-9884457722
Email: tn@europestudycentre.com
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