How to Get a Student Loan for Studying Abroad?

Students wishing to study abroad might often require financial assistance to fulfil their aspirations. However, money must never come in the way of career goals. There are ample ways to deal with financial shortages for students wanting to go abroad for studies. Aspiring students need to proceed systematically on how to get a student loan.

Gift yourself the best education

Important documents that will be required to avail a student loan

To avail funds for studying in the best colleges in the world or pursue top educational and professional courses after graduation on EMIs, one has to keep the following documents ready –

  • Proof of identity (including Aadhaar Card, Voter ID card, PAN card, passport, driving license, etc.)
  • Proof of address (Driving license, Aadhaar card, Voter ID card, or a recent copy of electricity bill.)
  • Academic documents.
  • Graduation certificate and results.
  • Passport-size photographs.
  • Entrance exam result (exam through which admission has been secured, e.g. GRE, GMAT, TOEFL or IELTS.)
  • Statement of expenses and cost of study.
  • Documents related to previous loan records.

A traditional loan like student loan might fail to provide you with a substantial amount required for your studies abroad , especially to fund the etcetera costs which may include lodging, fooding, basic living expenses, etc. In such cases, a student can opt for a loan against property. It assures a huge sum which can be sufficient to fund any related expense.

While looking for how to get a student loan, you can also consider other fund options available to you. You must also check which lender offers the loan at minimum interest rates and simple repayment terms.

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