Education Loan
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About Education Loan
A growing number of Indian students are showing a strong inclination towards pursuing their education abroad. However, many of them face financial constraints that can hinder their aspirations of studying overseas. In such circumstances, education loans tailored for international studies have emerged as a favored financial solution to support these students.
Immigration consultants play a pivotal role in assisting numerous international students seeking ways to finance their education abroad. Our consultancy specializes in helping international students navigate the complex landscape of student loans. We possess the expertise required to bridge the financial gap and address the challenges associated with selecting the most appropriate education loan. Our team of professionals is dedicated to guiding you in choosing the most competitive and suitable education loan options available.
Types of Education Loans Available
There are two primary categories of education loans available to Indian students who wish to pursue their studies abroad:
- Secured Loan : This category of loans is often referred to as secured loans, where the applicant is required to provide either tangible or intangible assets as collateral. These loans have a longer approval process, primarily due to the extensive documentation required by the lending institution. However, they come with the benefit of relatively lower interest rates for international student loans and do not necessitate repayments during the duration of the academic program.
Unsecured Education Loan: In this loan category, there is no need for the applicant to provide any collateral, making it an attractive option for those pursuing foreign studies without the need for security assets. This choice is particularly favorable for students who lack the necessary collateral for a loan. However, it is associated with a more stringent approval process, higher interest rates, and a shorter repayment period.
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