by Looking at the enhanced career prospects, numerous global students aspire to pursue higher education at foreign universities. However, their ambitions often encounter a common challenge which is financial constraints. Beyond the education fees, students need to fund their living expenses including accommodation, food, transport, and other miscellaneous costs. Looking at these hurdles, overseas education loans emerge as a valuable lifeline.
These loans become necessary tools for students aiming to realize their academic dreams abroad. By seeking financial assistance through education loans, they gain the means to not only secure their place in a foreign institution but also to sustain themselves during their studies. These loans play a pivotal role in mitigating the financial burden that might otherwise impede educational pursuits on an international scale.
A question might hit your mind who offers overseas education loans? Well, numerous financial lenders offer education loan for students to study abroad. In this article, we are going to talk about one of the popular NBFCs which is Avanse. Thus, let us move ahead and get a brief insight into this financial lender.
Benefits of Taking Overseas Education from Avanse
- Get 100% Finance
Avanse offers the advantage of covering your entire overseas education expenses, ensuring that you don’t have to worry about funding gaps. This comprehensive financial support allows you to focus on your studies without financial stress, paving the way for a successful academic journey. - Fastest Loan Sanction
It understands the urgency of your educational needs. With a commitment to efficiency, they provide the quickest loan approval process within 72 hrs. This swift sanction ensures that you can finalize your plans and commence your educational journey without unnecessary delays. - Flexible Repayment Options
Avanse stands out by offering flexible repayment plans tailored to suit your financial capabilities. This flexibility enables you to manage your post-education finances more comfortably, allowing you to repay your loan in a manner that aligns with your income and career progression.
After glancing at the benefits let us now look at what Avanse education loan for abroad studies offer.
What Avanse Offers to Study Abroad?
- Pre-visa Loans
Its pre-visa loans cater to the needs of students in the early stages of their overseas education journey. This financial assistance before obtaining a visa helps cover initial expenses, making the transition to a foreign education system more manageable and stress-free. - Pre-Admission Loans
The NBFC supports aspiring students with pre-admission loans, offering financial aid during the crucial phase of securing admission. This assistance ensures that financial constraints do not hinder educational aspirations, providing the necessary funds to meet admission requirements and commence the academic journey confidently. - Certificate of Availability of Funds
It issues a Certificate of Availability of Funds, providing students with a crucial document for visa applications. This certificate assures authorities that financial support is in place, easing the visa approval process.
Let us now move ahead and look at the eligibility criteria to secure an overseas education loan from Avanse.
Eligibility Criteria
It is important to check your eligibility before you opt for an overseas education loan, thus we have mentioned it below.
- Eligibility for Student Loan
1. Applicants must be Indian citizens aged 18 or older.
2. A confirmed admission offer is a prerequisite before the final disbursal of the loan.
3. A co-borrower with income earned in India is required for the application. - Co-Borrower Eligibility
1. Co-borrowers must be Indian citizens and can be parents, legal guardians, siblings, or other blood relatives of the student.
2. A valid bank account in India that allows them to sign cheques is necessary for the co-borrower.
3. The co-borrower must be the primary debtor responsible for the repayment of the loan.
Summing Up
Avanse loans emerge as a vital lender for students aspiring to pursue higher education abroad, addressing the financial challenges that often accompany such ambitions. With comprehensive financial support, quick loan approval, and tailored repayment options, this NBFC ensures that students can focus on their studies without the burden of financial constraints, making their academic journey a success. Thus, if you want more insight regarding taking an overseas education loan, we suggest you reach out to some of the top study abroad loan advisors. We hope this article was helpful, all the very best.
