Professional courses provide you with the knowledge and skills required to be job-ready. Pursuing these study programmes enhances employability and career growth, as they equip you with expertise and a commitment to staying relevant in a competitive global market. Education loan for professional courses is available, enabling you fund your education, leaving your finance-related worries behind.
Key highlights:
- What are Professional Courses
- Some Popular Professional Courses Across Disciplines
- Education Loan for Professional Courses
- Benefits of Student Loans
- What are the Eligibility Criteria
- Some Important Documents to Opt for a Student Loan
- Application Process
What are Professional Courses
Before learning about the education loan, let’s understand what these professional courses are. Professional courses are specialised study programmes meticulously designed to equip you with the practical skills, technical expertise, and industry-specific knowledge required for a seamless transition into a particular career within your chosen field.
Unlike traditional academic degrees that often prioritise theoretical concepts and research-based learning, professional courses focus on making you career-ready. Such courses focus on incorporating hands-on training, internships, and certifications.
Some Popular Professional Courses Across Disciplines
- Data Science
- Machine Learning
- Digital Marketing
- Business and Management Studies
- Cybersurity
- Executive MBA
- Business Analytics
- Mass communication
- User Interface (UI) and User Experience (UX) Design
- Engineering
Education Loan for Professional Courses
These professional courses can be super expensive, especially if you are planning to study abroad. However, this shouldn’t discourage you from achieving your academic aspirations. This is where a loan for professional courses comes into the picture. Student loans for professional study programmes are a fantastic way to bridge the gap between you and your academic dreams.
Student loans are available for numerous courses such as Computer Science, Engineering, Digital Marketing, and Cyber Security, to name a few. You can pursue mainstream bachelor’s or master’s degrees or skilling, upskilling and reskilling programmes. An education loan for working professionals is also available to pursue study programmes such as an Executive MBA. A student loan for working professionals provides you with the funds you need to pursue your chosen Executive MBA course at your preferred university, and it is absolutely worth it.
Benefits of Student Loans
Professional courses often come with a high price tag, but student loans serve as a tool to manage these costs effectively. Here are the key benefits:
Fund Your Education Independently
One of the most empowering aspects of a student loan is that it allows you to take full financial ownership of your career path. By financing your professional course independently, you take a significant step toward self-reliance. This sense of responsibility often translates into higher academic focus, as you are directly invested in your own success and future career potential.
Access Quality Education
Financial constraints should never be a barrier to achieving academic excellence. Student loans are a prudent choice to manage the cost of top-tier universities, whether in India or abroad. By providing the necessary funds to cover tuition, study material, and living expenses, these loans ensure you can choose a professional course offered by a university with a global ranking and prioritise career outcomes.
No Need to Liquidate Family Savings or Assets
Selling property or depleting life savings are traditional ways to fund education that no one prefers now. These options can jeopardise your family’s long-term financial security or retirement plans. When you opt for a study loan for professional courses, it protects your assets by allowing your family to keep their investments growing. You let savings do what savings are meant to do, i.e. help you in your rainy days, such as medical emergencies or a pandemic.
Build Your Healthy Credit History
By consistently repaying your EMIs, you establish a strong credit score early in your life. This healthy credit history becomes vital to earn creditworthiness among the financial institutions. With a robust credit score, you can unlock multiple benefits when you opt for a home loan, car loan, or credit card.
What are the Eligibility Criteria
- Students can apply if they:
- Are Indian citizens who are 18 or older
- Have a confirmed admission before the final disbursal
- Have a co-borrower who earns in India
- Co-borrowers also need to meet the following criteria:
- Must be an Indian citizen and should be a parent, legal guardian, sibling or other blood relative
- Must have a bank account in India that allows them to sign cheques
- Must be the primary debtor
Note: Please ensure that your chosen course and university are approved by your chosen lender.
Some Important Documents to Opt for a Student Loan
- For students:
- 2 colour passport-sized photos
- Photo ID
- Residence proof
- Date of birth proof
- Signature verification
- Academic documents
- Proof of admission
- Fee structure
- For co-applicant:
- 2 colour passport-sized photos
- Photo ID
- Residence proof
- Date of birth proof
- Signature verification
- Income proof
- Collateral documents (only for a secured student loan)
- 8-month bank statement
- Relationship proof
Application Process
At Avanse Financial Services, you can apply for a student loan in 4 easy steps:
- Fill out your application by visiting the website or visiting the nearest branch office for an offline application.
- Speak to our educational loan consultants.
- Send us the requisite documents.
- If you tick all the boxes, your student loan will be approved.
So, with a student loan, you can pursue your preferred professional course and be ready to transition to your career seamlessly. At Avanse Financial Services, we offer both an abroad education loan and a loan to study in India.
You will be glad to know that we offer student loans with 100% financing covering the holistic cost of education, including tuition fees, travelling expenses, accommodation costs, living expenses, the cost of learning devices, and other education-related expenses. You can try our education loan EMI calculator to find out the estimated EMIs. If you have any queries about a student loan, education loan interest rate, or your academic journey, please feel free to connect with us.
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