In the last episode, we covered Ansh Mehra’s academic journey so far, university, course, motivation to pursue higher education, research strategy and career prospects. In this episode, we will cover his experience with his education loan provider and his valuable tips related to exam preparation, balancing work & study, repayment strategies and more.
Key highlights:
- His Experience With His Education Loan Provider
- His Valuable Tips For Every Aspirant
His Experience With His Education Loan Provider
Securing an education loan is one of the most crucial steps in the academic journey, and like most students, Ansh started his search with traditional financial institutions. However, he experienced a common hurdle of the strict requirement for collateral. He was disappointed with high interest rates after turning his attention to private lenders. The precious time was running out until his father enquired with Avanse Financial Services. A call from an Avanse representative opened the door to a seamless, flexible student loan experience.
Ansh experienced a quick, stress-free path to securing his study loan with Avanse:
- 100% Paperless and Digital: He didn’t get caught in endless stacks of photocopies and exhausting branch visits. He managed the entire process from the comfort of his home by simply uploading soft copies of his documents through a completely digital platform.
- Unmatched Flexibility with College Changes: According to him, most traditional lenders are rigid and uncooperative if a student decides to switch their chosen institute during the application process. Ansh had initially started his loan application for a different university before choosing Great Lakes Institute of Management. When he informed the Avanse representative about switching his college choice, the response was immediate and supportive.
- Three-Day Turnaround Time: When he decided to change his university choice, instead of restarting an application cycle, the team simply asked for the new admission offer letter. His education loan was approved in just three days, further highlighting the seamless, flexible, and hassle-free experience provided by the Avanse team.
His Valuable Tips For Every Aspirant
Based on his own experience, Ansh shares some smart strategies that helped him navigate the competitive world of business school admissions and financing. Here are his recommendations for future aspirants:
Start Your Exam Prep 7–8 Months in Advance
The competitive exams like CAT (Common Admission Test), XAT (Xavier Aptitude Test), and MAT (Management Aptitude Test) can be rigorous. He advises starting at least 7 to 8 months in advance. Begin by studying just one answer a day and build your capacity for up to 100 answers a day as the exam approaches.
Learning Mode for Entrance Exams
While online resources such as YouTube are fantastic and widely available, know your personal learning style. For Ansh, sitting in front of a screen felt draining. He found that an offline institute offered far better focus, as the face-to-face interaction made it much easier to grasp and retain complex concepts.
Know Your Limits When Balancing Work and Study
Preparing for an intense competitive exam while working an 8-to-9-hour job can lead to severe burnout, especially if you are living away from home and managing daily chores. Recognising that this was getting too heavy, Ansh boldly left his job a month before the exam to give his preparation his undivided attention.
Do Your Own Research
Never rely on hearsay. Ask the hard questions, dive deep into the research, and treat your education financing not as a financial strain, but as a direct investment in your future.
Start the Repayment Journey Early
Don't wait until graduation to start paying your EMIs on your education loan. If possible, start paying off the simple interest (SI)/partial interest (PI) while you are still studying. Please remember, interest begins to accrue from day one. Paying SI/PI also builds incredible financial discipline before you even enter the workforce. Once you start earning, treat your EMIs as an absolute priority and make prepayments whenever you can.
A Final Word of Encouragement
He reminds aspirants such as you that success is entirely within your reach if you are willing to put in the effort. He encourages you to fully commit to your academic ambitions without hesitation, emphasising that this is the perfect time in your lives to take the right steps in your academic journey. For Ansh, the ultimate strategy is simple: identify your career goals and then confidently take action to achieve them.
This concludes our deep dive into how Ansh Mehra mapped out his future academic path. His story is incredibly inspiring, and yours can be next. By opting for an education loan, you can focus on academic aspirations rather than worrying about the costs.
At Avanse Financial Services, you can benefit from 100% financing, quick loan sanctions and flexible repayment options. If you have any queries, please contact us. We will be glad to partner with you on your academic journey. All the best!
Also Read: Students Speak - Spranjal Kulkarni’s Winning Strategy for Research and Selection Process – Part II
