Loans and Scholarship

Loans And Scholarships

Education is a fundamental right of every citizen in the world, student loans are designed to overcome the burden of expensive tuition and associated fees for students aspiring for post-secondary education. Financial institutions grant secured loans based on fixed criteria.

Education loan approvals differ from country to country. In India, the education loans are approved under the following criteria; Education loans have low-interest rates and the repayment schedule may be deferred while the student is still in school. There are special categories in India to obtain student loan to study in Canada.

StudySmart works with students and their parents, helping them understand the expenses for the chosen academic program and provide the necessary documents required from the educational institutions to secure overseas education loans and scholarships.

StudySmart does not provide loans or influence any financial institution in securing a loan. It is the responsibility of the student, their guardian or parent to secure a loan from any financial institution of their choice.

What documents are required to obtain a loan?

Last qualifying examination mark sheet of school and graduate studies in India
Secure admission to a foreign university/ Institution
Proof of admission to the course in a foreign country
Course fee payment schedule as given by the selected education institution
Copies of letter confirming scholarship, if applicable
Copies of foreign exchange permit, if applicable
Two passport size photographs
Bank account Statement for the last six months of borrower
Income tax assessment order not more than 2 years old
Brief statement of assets and liabilities of the borrower
In case you are not an existing bank customer, it is required to establish your identity and provide proof of residence
In some cases proof of the Visa approval

How much scholarship can you get?

What Courses do financial institutions generally provide education loans for?

How much loan can you get?

Scholarship

How much scholarship can you get?

Ideally, one should approach the financial institution they have been banking for the past several years unless they do not support overseas education loans. Make sure the loan repayment period starts only after six to twelve months after completing the studies and you begin your working life.

What Courses do financial institutions generally provide education loans for?

Professional courses, Management and Technology students are among the top choices for most financial institutions. Medical, Arts and culture are also considered however, it is the sole discretion of the financial institution to approve or decline a loan request.

How much loan can you get?

For the overseas study, all loans are generally approved against fixed deposits, NSC certificates, property worth the loan amount and a margin amount of 15 percent (what this means, is that the applicant would get 15 percent less the amount sanctioned as a loan; the applicant would have to fund the balance amount).

Scholarship

Foreign students can apply for scholarships from the institution if they meet the scholarship criteria. It requires maintaining a certain grade and is specific to each institution.

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