Students view studying abroad as a perfect opportunity to develop a global outlook and learn from a vibrant student community abroad. It can be a life-changing experience for many students as it allows you to broaden your horizon and learn new life skills. However, studying overseas can seem to be a challenging task due to education inflation. Therefore, students prefer opting for an education loan to finance their higher studies.

Key Highlights

·         Is studying abroad expensive?

·         How to achieve your dream of studying overseas?

·         Why is an education loan for studying abroad a prudent choice?

·         What are Avanse education loan benefits?

Studying abroad is expensive?

As per a recent study, study abroad aspirants must be prepared for a 5-7% annual increase in educational costs due to education inflation. Also, you must remember that there are several costs associated when you plan to study abroad, other than tuition fees. Hence you must chalk out a rough estimate while considering various costs.

How to achieve your dream of studying overseas?

The average cost of studying abroad will depend on your preferred course, university and overseas destination. So, it is advised to conduct thorough research to estimate the various costs involved.

Costs to consider:

·         Tuition fees

·         Airfare

·         Accommodation costs

·         Living expenses

·         Study material

·         Learning devices

·         Other education-related expenses

Did you know that an education loan covers all the major educational costs? So, when you opt for an education loan, you can focus on your studies instead of worrying about the multiple costs involved. If you want to understand the total cost of education, you can use College Course Expense Calculator, an online tool. This will bring clarity to your overall budget and potential cost.

Why is an education loan for studying abroad a prudent choice?

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Parents go above and beyond to ensure their children attend the best universities and their preferred courses. What if we tell you, you don’t have to depend on your parents anymore? You can fund your higher education by opting for an abroad study loan. Once you finish your studies and repay your student loan, you can pride yourself on being Atmanirbhar.

Quality education without compromise

Why should you settle for a lesser popular university or course? Reputed international educational institutions can be super expensive, but you can secure a seat at your dream university with a student loan. Financial institutions provide a loan for students for well-ranked universities and popular courses.

Pro Tip: Before applying for an abroad education loan, check with your lender if it approves your chosen university and the course.

Credit history

As a student, you have a long journey ahead of you. Eventually, you will require other financial products such as a home loan, car loan and credit card. You will build a healthy credit score by responsibly repaying your study loan. This, in turn, will positively impact your creditworthiness, allowing you to enjoy numerous benefits and features when you opt for other financial solutions. 

Preserve family savings

If you opt for an education loan, you will never be forced to liquidate your family savings or sell your family’s valuable assets. Isn’t that fantastic? Instead, you can let savings grow over the years to fall back on them when you need them during emergencies.

Imagine this  - You are planning to study at a legendary B-school and hence, break life’s savings to cover the cost of an MBA abroad. In this case, you will be left with no savings during contingencies. Hence, students prefer study loans over liquidating family savings.

Broader perspective

What is it that empowers you to build a promising career? If your answer is higher education, you already know its importance. Investing in a study loan enables you to earn returns for your lifetime.

What are Avanse education loan benefits?

We, at Avanse Financial Services, strive to make your overseas educational loan journey seamless. Hence, we offer loans for students that cover the holistic cost of education, including tuition fees, accommodation costs, living expenses, travel costs and other education-related expenses.

Also, since we offer 100% finance, you don’t have to worry about arranging margin money. Margin money is your contribution towards the total cost of education. We don’t want our student community to struggle for margin money. Instead, we encourage you to concentrate on your studies and leave all your finance-related worries to us.

So, this is how an education loan can help you in your academic quest. The higher cost of studying overseas will never bother you anymore if you opt for a study loan and plan your repayment effectively. If you have more queries, please feel free to connect with us.