In the previous episode, we learned from Vinay Kumar Siramshetti about the difference in pedagogy, his experience with the new environment, and how he embraced the new culture. In this episode, we will capture his experience with his education loan provider, his invaluable tips for student loan repayment, and some interesting tips for study abroad aspirants.
Key highlights:
- His Experience With His Education Loan Provider
- His Invaluable Tips for Student Loan Repayment
- Some Interesting Tips for Study Abroad Aspirants
His Experience With His Education Loan Provider
Vinay approached many financial institutions for his student loan. However, one of the financiers rejected the student loan after more than 4 months due to some document-related issue, which caused a lot of distress as Vinay’s precious time was lost. His experience with other lenders forced him to defer the course by two academic intakes.
One of his friends recommended Avanse Financial Services to him and mentioned that the organisation is known for its quick education loan process. Vinay initially expected the whole procedure to take approximately 2 months, but he was pleasantly surprised when it took only 10 days. He praised the Avanse representatives who assisted him for being proactive and friendly. The team cleared all his doubts every step of the way and kept him updated at all times. The efficient team and transparent process led to a seamless experience.
His Invaluable Tips for Student Loan Repayment
According to Vinay, every student will come from a different financial background and will have unique financial requirements. Therefore, students must select the EMIs and the tenure based on their preferences and risk appetite. Vinay, personally, preferred picking a longer tenure as it will enable him to navigate emergencies in the future, if any.
Irrespective of what life throws at him, a longer tenure will allow him to continue with the repayments even during unforeseen circumstances. If you are financially well-positioned and willing to pay in a short duration, that’s a good option, too. He suggested that students must take a call after evaluating their financial situations. You must always remember that not paying the EMIs on time can have an adverse impact on your credit scores.

Also Read: Secured and Non-Collateral Education Loan: A Brief Guide
Some Interesting Tips for Study Abroad Aspirants
- Studies and Finance – The Balance
When studying abroad, you have to strike the right balance between your studies and moolah. Undoubtedly, academics should remain a priority. Simultaneously, it is crucial to pick up a part-time job to support your lifestyle. He explained this with an example. For instance, if you want to buy something as small as chewing gum, it can cost you GBP 1, which is ~INR 113.62. So, reckless spending can lead you into financial trouble. Hence, you must create a budget, spend judiciously, and set aside some money for emergencies.
- Attendance
If you attend your lectures regularly, you will stay up-to-date with all the course content delivered in class. Many universities have strict attendance requirements, and failing to meet them can negatively impact your grades and overall academic performance.
- Be Self-Motivated
Study abroad students need to stay motivated and look after their academic, financial, and physical well-being. Although you may find friends who will encourage you to stay on track, you must cultivate self-discipline to stay focused on your academic goals even when no one is around you to cheer you on.
- Stay Away from Distractions
You must stay grounded in your culture when adapting to a new environment, as it will guide you to make the right decisions. For instance, in order to embrace a modern lifestyle, some students might start consuming alcohol excessively, as drinking is more socially common in many foreign countries. You must avoid the choices that could harm your well-being or put you at unnecessary risk.
Also, you need to be mindful of what you speak in public or online spaces, as it can have implications on your visa status. Such circumstances impact you personally and can also affect your loved ones back at home.
So, this wraps up Vinay’s academic journey planning. If his inspirational journey has encouraged you to embark on your study abroad quest, now is the perfect time. Regardless of the financial constraints, you deserve to pursue academic aspirations.
You can leave the finance-related worries behind by opting for an education loan to finance your higher studies independently. If you have any queries, please feel free to get in touch with us. Please remember that we are here to walk alongside you as you pursue your academic goals. All the best!