Many students in India today are aspiring to go abroad for higher education. Parents want their children to pursue the best of education which will make their child independent, self-confident and successful in his or her career which is only possible with the help of education. 

Higher education in abroad countries widens the scope of success and learning for a student. Getting Higher Education Loan For Studying Abroad from a reputed Institute or university abroad, a student can inculcate personal development, he or she can experience a different culture, build international professional network, find new interest, earn more, experience different educational courses, etc. But many of the times parents are not able to provide higher education to their child due to lack of funds or finance. 

But lack of money or funds should not be a hindrance for any young and talented students which will keep them away from opportunities abroad. Thus, government in India, the public sector firms and Non-banking financial companies (NBFC) have come up with many easy to avail Educational Loan for abroad facilities which would help the students or aspirants to support their dream of pursuing higher education from abroad. 

Some of the leading and well known NBFC’s in fact, provide 100% coverage of the education loan finance at an interest rate of about 12.75%, living expenses including the purchase of books, computers and all other essentials and Travel expenses up to Rs 75000 for students studying abroad. The loan is granted against collateral security like a residential property, life insurance, house mortgage or any non-agricultural land. 

The loan amount will be disbursed directly to the educational institute in Indian Rupees. There is no cap on the loan amount and the students do not even have to worry about the documentation as it all done as per their convenience at their door step. 

Availing an educational Loan for abroadfrom such companies would also provide a student with an added advantage of getting a customized solution and education Loan plan as per their choice. As these companies have number of plans for education loan like the Pre- visa disbursement loan which helps you secure your visa, the bridge plan which will help to cater the exam preparation fee required for entrance exams, score based plans which provides special benefits for the meritorious students, pre-admission loan which will help you secure your admission in the abroad institute or university showing sufficient proof of funds in hand at the time of applying for foreign university, fast track loans to make the process speedy and also provide a “Certificate of Availability of Funds” which assures the Institute or university abroad where you are seeking an admission, that you possess the adequate funds to pursue the particular course aboard and pay for the living expenses as well.

Every person who takes loan always worries of the repayment of it but these companies provide a much valuable extended and flexible repayment option for repayment which usually starts after 12 months of the completion of your course or 6 months after you secure a job as known a “moratorium period.” 

Also you get top up on your existing education loan. Private companies or banks provide the student loan refinancing option as well so whenever a student feels like he or she can switch to such companies.

The main advantage of taking educational Loan for abroadfrom such companies is that they make the students responsible and financially independent due to which the parents don’t have to worry about the expenses of providing a higher education for children and this can also save their valuable for emergencies or retirement without selling or using their assets making their child self-dependent. Thus such private companies or banks not only help the students financially but also make the students responsible by giving support and for them to pursue their dream of studying abroad.