Category Archives: Education

In the early article, we discussed financial planning. In this article, we will try to under the taxation in the mutual fund system that applies to mutual fund investments.  Factors determining the taxation of Mutual funds  To know the taxation structure, first, you need to identify which type of mutual funds you have invested in and whether the fund you hold is an equity mutual fund or a debt-oriented mutual fund.   Along with this, the type of income that you are generating from the fund, whether a capital gain or dividend income - both these types of income are taxable in different ways.  Finally, your holding period is crucial in knowing the taxes applicable to your mutual funds' portfolio.  Earnings in mutual funds There are usually two ways in which money is earned in mutual funds: one through the selling of the mutual fund (capital gain) and the other through dividend income.   For example, if you are holding units of a mutual that you purchased at a NAV (Net Asset Value) of Rs. 100, and you sell it when its NAV of Rs. 150, you make a capital gain of Rs. 50; it is worth noting that capital gains tax accrues on the mutual funds' units only after redemption.   The tax will be payable when you file your income tax returns for the coming fiscal year.  The second way to earn from mutual funds is dividend income – the fund declares dividends for the holders based on the surplus that it has for distribution Dividends are taxable as soon as the dividend amount hits the bank accounts of the investors.   Source: Pexels Tax on capital gains  Here, there are again two parts to the story – whether the realized capital gains have come from equity mutual funds or debt mutual funds.   An equity mutual fund has an equity exposure of greater than 65%. For equity mutual funds, if the gains have been realized within 12 months of holding, then the applicable tax rate is flat at 15% on the gains (irrespective of your income tax bracket).   When the holding period exceeds 12 months, the capital gains of Rs. 1,00,000 are exempt from taxes. Any amount upwards of Rs. 1,00,000 is taxable at 10%, along with the provision of indexation benefits.  For debt mutual funds (funds with greater than 65% exposure to debt instruments) - the holding period is considered short-term if it is less than 36 months; anything more than that is long-term.  For the short term, the tax rate is in accordance with your income tax slab. On the other hand, for debt funds held for more than 36 months, the gains are taxable at a flat rate of 20% post-indexation (plus, some cess and surcharge are added).  A possible third case is hybrid funds (funds with a mix of debt and equity) it is simple, their tax treatment is supposed to be on the basis of the fund's exposure to debt and equity.  If the hybrid fund is equity-focused: LTCG is charged at 10% on capital gains exceeding Rs. 1 lakh (without indexation), and STCG is charged at 10%. If the hybrid fund is debt-focused: LTCG is charged at 20% with indexation benefits, and STCG is charged per income tax slab.  Tax on dividends  Now, when it comes to taxation of dividends paid out on mutual funds, it is done by adding the dividend to the investor's taxable income, and then the individual income tax slab rate is applicable; this is in accordance with the amendments made by the union budget of 2020.  Earlier, dividends were tax-free in the hands of investors since the companies paid the Dividend distribution tax (DDT) before sharing the profits with the investors.   Dividends (received from domestic companies) of up to Rs. 10,00,000 per year were tax-free in the hands of the investors during this period. Dividends above Rs. 10 lakhs were subject to a dividend distribution tax of 10%.  STT Aside from the dividends and capital gains taxes, there is also a securities transaction tax (STT).   When you acquire or sell mutual fund units of an equity or a hybrid mutual fund, the government charges an STT of 0.001%. It is important to note that selling units of debt funds are exempt from the STT.  Important points to note  There are tax-saving equity funds as well. Investments made under the ELSS (Equity-linked savings schemes) qualify for tax exemption under section 80C of the Income-tax Act (exemption up to Rs. 1,50,000).   Please note that ELSS schemes come with a lock-in period of 3 years – that is, investors cannot redeem the units before three years. LTCG (long-term capital gains tax) is not applicable for gains up to Rs. 1,00,000.   For LTCG more than Rs 1 lakhs, the applicable tax rate is 10% without indexation.  Taxation in the case of SIP (Systematic Investment plans)  Let us understand this with the help of an example  An investor invests Rs. 10,000 every month from April 2021, and another investor invests Rs. 60,000 lump sum at the same time.   When both of them redeem their funds simultaneously, Rs. 10,000 will qualify for tax exemption for the SIP investor because the investment made in 2021 would exceed one year as of May 2021. In contrast, the entire capital gain isn’t taxable for the lump sum. Investing in the long term can be more tax-efficient than holding the units for a short duration. FAQs How much amount is taxed in mutual funds? If the investor claims redemption in less than 1 year of investment, it would fall under the Short-term Capital Gains (STCG) category. The tax rate would be 15% on the gains earned by the investor. If the investor holds the investment for more than a year, (say April 2020 – May 2021), the gains would be taxed at long-term capital gains (LTCG) tax of 10% Is SIP in mutual funds taxable? Yes, SIP in the mutual fund is taxable. The tax amount differs based on the duration and returns generated Which mutual funds are tax-free? Profits from the sale of ELSS fund units are considered long-term capital gains and have tax exemption. Consult an expert advisor to get the right plan for you TALK TO AN EXPERT

Trading on the exchange can be a challenging experience. If you buy too soon, you risk being disappointed if the price declines. However, if you postpone and the price rises, you will feel you have lost out on a good offer.  Dollar-cost averaging is a risk-minimization tactic that involves progressively increasing your holding. When you employ a dollar-cost average strategy, you engage in an asset in equal amounts of dollars at regular intervals your purchase is at a range of prices rather than aiming to time the market.  Like most investment techniques, dollar-cost averaging isn't for all, and there are periods when it makes more sense than others. However, it can be an efficient strategy for overwhelming some mental hurdles to investing.   Let's understand the nitty-gritty of dollar-cost averaging.  What is Dollar cost averaging?  When buying equities, exchange-traded funds (ETFs), or mutual funds, dollar-cost averaging is a tactic for reducing price risk.   Instead of investing in a single asset at a single purchase price, you divide the investible money to buy tiny amounts over a period at regular intervals with dollar-cost averaging - it reduces the risk of paying a high price before market prices come down.  Of course, prices do not always move in a single direction. However, splitting your purchase into many increases your odds of paying a lower aggregate price over time.   Furthermore, dollar cost averaging allows you to regularly put your capital to work, essential for long-term success.  Let's understand with an example, using DCA, a $200,000 investment in shares can be undertaken over eight weeks by investing $25,000 each week in the same manner.   The trades for lumpsum investing and the DCA approach are in the table below:   The amount invested is $200,000, with 2,353 shares purchased as a lumpsum transaction. On the other hand, the DCA strategy purchases 2,437 shares, a differential of 84 shares worth $6,888 at the $82 average share price.   As a result, DCA can raise the number of shares purchased when the market is down and decrease the number of shares purchased when the market is up.   DCA @ $25000 per weekLumpsumWeekShare priceNo shares purchasedShare priceNo shares purchased185294852353286291  383301  481309  582305  678321  780313  882305  Total shares purchased 2437 2353Average share price82 85  What is the best time to employ dollar cost averaging?   When it comes to dollar-cost averaging, it's crucial. You must, in particular, create and keep to a consistent plan. The strategy's main advantage is that it allows you to avoid worrying about when to buy in and stop trying to beat the market by splitting the investment into parts.  As a result, you must adhere to it once you've set a date, no matter what.  The day you select is the perfect day.  Scenarios of the DCA in market phases  When you employ DCA in a falling market, you can own more significant shares as the market prices fall each day, thus helping you get more shares than the lumpsum buy.  In a rising market, Dollar-cost averaging prevents you from maximizing your returns compared to a lump sum buy because the stock rises and then rises again. However, unless you're looking to make a quick buck, this circumstance rarely occurs in real life. Stocks are pretty volatile.  In a flattish market, the scenario appears to be the same as the lump sum buy in a flattish market, but it isn't because you've eliminated the danger of market mistiming at a low cost. For long periods, markets and stocks might move sideways – up and down but ending where they started.  Benefits and disadvantages of the DCA.  Who should use DCA?  You may consider dollar-cost averaging if you are  When you first start investing, you only have a small quantity of money to invest.   I'm not interested in the extensive research that goes into market timing.   Putting money down for retirement every month.   In a falling market, it's unlikely to maintain investing.  You may employ another investment approach if  You have a lot of money to invest.  You invest in mutual funds through a taxable brokerage account with greater initial investment minimums.   You love attempting to time the market and are unconcerned about the extra time and research required.   You're making a short-term investment  Aside from other aggressive techniques like target asset allocation, diversity, and frequent portfolio rebalancing, an investor should seek to use DCA as an optional strategy. FAQs How do you explain dollar cost averaging? Dollar cost averaging is an investment strategy to mitigate risk while investing. It means that an investor will continue to buy stocks, ETFs and mutual funds by buying smaller units at regularly irrespective of the price point. What is an example of dollar cost averaging? Dollar cost averaging allows you to regularly put your capital to work, essential for long-term success.  Let's understand with an example, using DCA, a $200,000 investment in shares can be undertaken over eight weeks by investing $25,000 each week in the same manner.   The trades for lumpsum investing and the DCA approach are in the table below:   The amount invested is $200,000, with 2,353 shares purchased as a lumpsum transaction. On the other hand, the DCA strategy purchases 2,437 shares, a differential of 84 shares worth $6,888 at the $82 average share price.   As a result, DCA can raise the number of shares purchased when the market is down and decrease the number of shares purchased when the market is up. Is dollar cost averaging a good idea? Yes, it is great for investors who do not want to take on a risky venture. It allows you to invest regularly.  Consult an expert advisor to get the right plan for you TALK TO AN EXPERT

Education is an investment in one's future, and many students opt for education loans to fund their studies. However, repaying an education loan can be a daunting task, especially with the high-interest rates involved. In India, education loans are becoming increasingly popular, and students need to be aware of the repayment process and schemes available to them. In this article, we will explore how to repay an education loan, the education loan process, interest rates applicable in India, and education loan repayment schemes that can help students manage their debt effectively. Whether you are a recent graduate or currently studying, this guide will provide you with all the necessary information to successfully repay your education loan.  Tips for Effective Education Loan Repayment Management  Repaying an education loan can be a challenging process, but it is essential to manage the debt effectively. In India, education loans are available for students pursuing higher education, with interest rates ranging from 6% to 12%. The education loan process involves applying for the loan, submitting the necessary documents, and getting approval from the lender.  Once the loan is approved, students must start repaying the loan as per the agreed-upon repayment schedule. Education loan repayment schemes are available, such as the Education Loan Subsidy Scheme, which offers interest subsidies for economically weaker sections, and the Post-Graduate Scholarship Scheme, which provides financial assistance to students pursuing postgraduate studies.  To repay the loan, students can opt for different repayment plans, such as the standard repayment plan, extended repayment plan, or income-based repayment plan, depending on their financial situation. It is crucial to make timely payments and avoid defaulting on the loan, as it can negatively impact the credit score.  To manage the loan effectively, students can also consider options such as loan consolidation, refinancing, or loan forgiveness programs. These options can help reduce the interest rate, simplify the repayment process, or even forgive a portion of the loan in certain circumstances. https://www.youtube.com/watch?v=4gTQkdePOWM Here are some additional points to consider when repaying an education loan:  Make a budget: Create a budget that takes into account your monthly expenses, including the education loan repayment. This will help you plan your finances and ensure that you have enough money to make timely payments.  Keep track of due dates: Keep a record of the due dates for your loan payments to avoid missing payments or defaulting on the loan. You can set up reminders or automatic payments to ensure that you don't miss a payment.  Consider prepayment: If you have extra funds, consider prepaying the loan. This can help reduce the interest rate and the overall cost of the loan.  Look for tax benefits: In India, there are tax benefits available for education loan repayment. Make sure to take advantage of these benefits and save on your taxes.  Seek professional advice: If you are facing financial difficulties, seek professional advice from a financial planner or counselor. They can help you develop a plan to manage your debt and avoid defaulting on the loan.  Negotiate with the lender: If you are having difficulty making your loan payments, consider negotiating with your lender. You may be able to get a lower interest rate or a more manageable repayment plan.  Consider part-time work: If you are currently studying, consider taking up part-time work to supplement your income and help with loan repayment. There are several online platforms that offer freelance work opportunities that you can consider.  Refinance your loan: Refinancing your education loan can help reduce your interest rate and make your monthly payments more manageable. Look for lenders that offer lower interest rates and better repayment terms than your current lender.  Avoid defaulting on the loan: Defaulting on your education loan can have serious consequences, including damaging your credit score, legal action, and difficulty in securing loans in the future. Make sure to make timely payments and seek help if you are facing financial difficulties.  Stay motivated: Repaying an education loan can be a long and challenging process, but it's important to stay motivated and focused on your goal. Remember that the loan is an investment in your future, and by repaying it, you are investing in your career and your future financial stability.  By following these tips and staying focused on your goal, you can effectively manage your education loan repayment and achieve your career aspirations without financial stress.  Guide to Education Loans Read More Conclusion  Education loans are a popular way for students in India to fund their higher education. However, repaying the loan can be a challenging process, especially with the high interest rates involved. It is crucial for students to understand the education loan process, interest rates, and repayment schemes available to them.  By making a budget, keeping track of due dates, considering prepayment, and seeking professional advice, students can effectively manage their education loan repayment and avoid defaulting on the loan. Additionally, negotiating with the lender, refinancing the loan, and avoiding defaulting on the loan are some other ways to make the repayment process more manageable.  Remember, repaying the education loan is an investment in your future, and with proper planning and management, you can achieve your career aspirations without financial burden. So stay motivated, stay focused, and take the necessary steps to manage your education loan repayment effectively. 

Preparing your college application can be a daunting task, but it's an important step toward securing your future in higher education. As a high school student, you're likely to encounter a myriad of options when it comes to colleges to apply online. The right choice can pave the way for an enriching academic journey, but the wrong one can lead to missed opportunities. To ensure that you put your best foot forward, it's crucial to prepare your college application thoroughly. In this article, we'll provide you with essential tips for preparing your college application, including what to include and what to avoid. By following these tips, you'll be well on your way to creating an impressive application that showcases your potential for success in higher education. Tips for your college application 1. Start early One of the most crucial tips for preparing your college application is to start early. Many students make the mistake of waiting until the last minute to start working on their application, which can lead to a rushed and subpar result. Starting early gives you ample time to research your options, gather your documents, and prepare your application carefully. 2. Research the colleges Before you start filling out your college application, take the time to research the colleges you're interested in. Look at their admission requirements, tuition fees, programs offered, and campus culture. This will help you determine which colleges are the best fit for you and ensure that you're only applying to schools that align with your academic and personal goals. 3. Tailor your application When preparing your college application, it's essential to tailor it to the specific college you're applying to. This means paying attention to the school's admission requirements and ensuring that you meet them. You should also customize your application to highlight your strengths and experiences that align with the college's mission and values. 4. Focus on your personal statement Your personal statement is one of the most critical components of your college application. You have an opportunity to impress the admissions committee by showcasing your character, values, and accomplishments. To make your personal statement stand out, focus on telling a compelling story that highlights your unique qualities and experiences. 5. Avoid common mistakes When preparing your college application, it's important to avoid common mistakes that can derail your chances of admission. Some of these mistakes include submitting incomplete or inaccurate information, using inappropriate language, and failing to proofread your application for errors. 6. Seek guidance Preparing your college application can be a challenging process, but you don't have to go through it alone. Seek guidance from your high school counselor, college admissions advisors, and other trusted sources to ensure that your application is the best it can be. They can provide you with valuable feedback and advice that can help you improve your application and increase your chances of admission. 7. Use the same email address Another way to maintain consistency in your college application is by using the same email address. This will ensure that all communication from the colleges you're applying to will go to the same inbox, making it easier for you to keep track of everything. 8. Be consistent with dates When filling out forms, make sure that all dates (such as your birthdate or graduation date) are consistent. This will help avoid any confusion or discrepancies that may arise when colleges are reviewing your application. 9. Check for consistency in your essays If you're submitting essays as part of your application, be sure to check for consistency in your writing. For example, make sure you're using the same tense throughout the essay and that you're consistent in your use of abbreviations or acronyms. 10. Review your application for consistency Before submitting your application, take the time to review it for consistency. Double-check that your name, email address, dates, and other information is consistent across all forms and essays. This will help ensure that your application is accurate and professional-looking. 11. Consider using a checklist To make sure you're consistent in all aspects of your application, consider using a checklist. This can help you keep track of what you've already submitted and what still needs to be done, reducing the chances of mistakes or oversights. Conclusion preparing a college application can be a daunting process, but being consistent in your approach can make it easier and increase your chances of success. Starting early, researching colleges, tailoring your application, focusing on your personal statement, avoiding common mistakes, and seeking guidance are all important tips to keep in mind. Additionally, maintaining consistency across all aspects of your application, such as using the same name, email address, and dates, can help ensure accuracy and prevent delays or errors. By following these tips and striving for consistency, you can create an impressive college application that showcases your strengths and potential, setting you on the path toward a successful academic career.

In the previous article, we learned about what is financial planning. And the importance of financial planning. In this article, we will dive into the types of financial planning. Investment Planning  Investment planning refers to allocating funds towards various investment products to create a wealth corpus and generate continuous income.   It involves the analysis of short-term needs and long-term goals and then deciding how much money to invest in and in which asset class. Knowing how much savings you possess is the first step in investment planning.  Tax Planning   Tax planning is a way to optimize your investment returns smartly by minimizing your tax liability by channeling your investments into particular instruments.   With proper tax planning, you can have a higher post-tax income. Some ways to save tax are to hold your stocks for more than one year and prefer tax-savings schemes like ELSS.  Retirement Planning  This type of planning’s objective is to ensure that you have adequate resources to live after you stop earning. Achieving a good retirement requires good planning from an early age by investing and saving a proportion of your income for your future self.   The most important factors while considering your retirement plan are the rising inflation and the rising standard of living. Source: Pexels Cash Flow Planning  Cash flow planning is more of a daily process. It involves actively budgeting your income and expenses to maximize your savings by prioritizing necessary expenses over wasteful ones.  Insurance Planning  Having insurance is most important, even before having any other investment product. Insurance acts as a safety net for you and your investments.   Insurance planning requires planning the amount of life cover and health cover through various comparisons between individual and family floater plans to ensure protection.  Children’s Future Planning   Planning your children’s future is an important task – be it education or marriage, these are big-ticket expenses that require proper planning and investments.  Estate Planning  This type of planning entails the concoction of property investments; real estate investing is usually tricky because of the high investment amount and various government rules and regulations involved. However, with good consultation, real estate investments can be one of your best bets. FAQs What are the 7 types of financial planning? Investment Planning Tax planning Retirement planning Cash Flow Planning Insurance planning Children’s future planning Estate planning What are the main types of financial planning? The main types of financial planning are - personal finance, retirement planning, and tax planning. What is the value of a child's future planning? A child's future planning is extremely valuable. Especially when it comes to future college planning in this day and age. The cost of education is rapidly increasing worldwide with education inflation estimated at 10% which means your child's college will be much higher than the average increase in world income. Consult an expert advisor to get the right plan for you  TALK TO AN EXPERT

Have you ever wondered what the first year of studying abroad looks like? If your education plans involve moving overseas, then you may have harbored some daydreams of what an international education actually feels like.  What does it actually involve? What can you expect? Would it be everything you thought it would be? Is studying abroad worth it? These and a thousand other questions may be swimming in your head. What are some things you can expect in your first year of studying abroad? Well, read on to find out. 1. The Initial Euphoria The success of your education plans and study abroad dreams as well as the thrill of setting foot in a brand new country will bring about an initial euphoria. After all, this is what you always dreamed of. It is always exciting to embark on a new adventure. Everything is new, and everything is unfamiliar, and that brings a sense of discovery and inspiration.  Orientation week can be quite an adventure as you get to explore the campus and meet new people. While these first few weeks can be anxiety-inducing, they are also quite thrilling. You should take advantage of the light workload in these few weeks to explore the city and other surroundings. Talk to your classmates and roommates and go out for parties and outings with them. Once college starts in earnest and the workload increases, you may not have the time anymore. This is the perfect time to make new friends and find new haunts. Connections and discoveries made during this period will be useful to you for your entire college life. 2. The subsequent culture shock Once the euphoria of new adventures fades, you will be hit with culture shock. Starting a new life in a new country comes with a variety of shocks. After all, this is an entirely different place with an entirely different culture. The people here are different, they live differently and act differently, and socializing with them is a completely different experience. Not to mention the food, lifestyle, and even teaching can be different from what you are used to. It is important to stay in touch with home and family during these times. Being connected to family and friends back home helps with the alienation caused by the culture shock. Image by Ketut Subiyanto on Pexels Along with the culture shock, you may also experience a degree of homesickness when you study abroad. Living away from family and friends can take its toll. Since you are completely new to the country, you don’t have anyone with whom you have a deep connection yet. This means you don’t have anyone to share your feelings and thoughts with.  This loneliness can be combated by keeping in regular touch with those close to you back home. However, sometimes video chats and phone calls don’t cut it. Sometimes you need someone to be physically there for you. Do not hesitate to talk to your college counselor or psychologist. Counseling and guidance can help you overcome culture shock and homesickness. Your college counselors are also most likely experienced in dealing with international students and their issues.  Remember that the culture shock is temporary and you will soon start to adapt and fit into your surroundings. 3. More Responsibilities College life brings you a new set of responsibilities. The fact that you now live on your own means that you will have to deal with these responsibilities on your own. You no longer have your parents to rely on for emergencies. You have to develop the life skills and confidence to deal with issues on your own.  Image by Breakingpic on Pexels You will have to learn to do your own chores and run your own errands. You will also have to learn how to create your own budget. Now that you live on your own, you will need to learn to become a responsible adult. You may also have to take up a part-time job or a side hustle.  College life will be your first step into responsible adulthood. This will include learning new skills both big and small, from doing your own laundry to creating financial plans and budgets. All of these skills, big and small, make you a well-rounded adult. 4. Embracing Multicultural Learning Embracing a global education also means embracing a multicultural education. The diversity of cultures, nationalities, and ethnicities in foreign universities makes studying abroad a learning experience in more ways than one.  Just like the culture shock of landing in a new country, the culture shock of a multicultural classroom can initially be a bit much. However, you will soon discover the benefits of multicultural learning. In a classroom with people of different ethnicities, you will get more well-rounded and diverse views on the same topics. This makes learning in an international environment a much more wholesome educational experience. Being in a multicultural environment also helps you develop versatile social skills. Interacting with diverse people will help you understand how to make friends and connect with people across social and cultural boundaries. This can be a big advantage for you when you enter the job market. Multicultural experiences make you more desirable for companies that operate internationally or have a global clientele. 5. Acceptance The first year of studying abroad can be challenging. With the culture shock, the struggle of juggling classes and coursework with non-academic responsibilities, and many other struggles, hopefully, you will reach acceptance.  At the end of your first academic year abroad, you should be able to accept and embrace your new life as an international student. This is the final stage of any new life adventure. This is when you have discovered all the possibilities as well as limitations of your new life and learned how to adapt to them. You will have met new people, formed new connections, and settled into life in a foreign country. Only it's not so foreign anymore, is it? You now have a new home.  Studying abroad is a process of discovering yourself and discovering new homes for yourself. You find new niches that you are good at, and meet new people that you relate to, sometimes unexpectedly. All of this enables you to accept not only your new life but your new self. Apply for an Education Loan! Conclusion Going to study abroad can be both challenging and intimidating. College is scary by itself for new high school grads. When you add in the stress of acclimating to a new country and a new cultural environment, it can all seem a little much.  Your attitude matters when it comes to international education. You need to look at it as a new adventure. It is an adventure that will give you some grief but eventually help you become an adaptable, resilient, and versatile individual.  FAQs How do I start preparing for studying abroad? First and foremost, find out the cost of studying abroad using a calculator. This will help you understand how much you need in terms of tuition, living expenses, and miscellaneous expenses. Next up, start the application process, find out the deadlines, the scholarships available and what are the requirements for applying to your course. Start the application and after your admission is approved, start planning the actual move! When should you start preparing for studying abroad? Ideally, you should start preparing for studying abroad a year in advance. This will help you meet all the requirements like appearing for entrance exams, collecting LORs, or writing your SOP. You can also start searching for the best education loans if you are planning to take one. What is the first process of studying abroad? The first process/step of planning your study abroad journey is to find out the cost of studying and the best way to finance your education. Next is shortlisting the universities you wish to enroll at, checking the eligibility criteria, and figuring out the application process, deadlines, and requirements. The application process can take up to 6 months and even more for some universities. So think in advance.

The 30s are very crucial for you as an investor. In this article, we will try to understand the best way to start investing in the 30s.   Steps to take before investing   1. Create an emergency fund The first and foremost thing you need to do is create an emergency fund that will assist you in times of urgent need. Ideally, the emergency fund should be equivalent to 6- 8 times your monthly expenses.    2. Become debt-free Tension-free and full-fledged investments are possible when you are not reeling under your loans. In the case of personal loans like credit card bills, try to clear them off on or before the due dates.  What should be your investment strategy?   1. Align investments with life goals The 30s is that juncture of life where you have a lot to do ahead –in terms of responsibility and achievement. For this reason, you need a detailed time log of what you intend to do in the upcoming decades before you define your investment strategy. In general, some big-ticket expenses are your marriage, your kids’ future studies (maybe 15 years later), and planning your retirement. At this age, your portfolio should have a subtle combination of equity and debt to suit your long-term goals.   2. Beating inflation In your 30s, you still have time to get rich and enjoy the luxuries of life. So, you should put the investible money into assets that will beat inflation. Inflation is your enemy so treat it like one, and thus, do not invest your money (for growth purposes) into assets that do not even match inflation such as FDs and savings bank accounts. You should aim at investing in stocks and mutual funds or even real estate (if you have the proper knowledge and guidance).   3. Do not fear risk At this time of life, the risk is synonymous with living in terms of a career or investments. Risks depend on your appetite; if you wish to obtain asymmetric returns, you have to take asymmetric risks. However, you must have the potential to manage the risk (an emergency fund). Managing risk implies diversifying your investment portfolio by placing your money into various asset classes and reviewing your portfolio to check for risks.   3. Do not disregard liquidity Liquidity is a vital factor to consider. While investing, you must ensure that your investments are not tied entirely to illiquid assets, which might create problems in times of distress.   4. Invest continuously Continuity and patience will reap the highest benefits in your investments. The longer you remain invested, the more you can benefit from the power of compounding and through the systematic accumulation of stocks/mutual fund units over a long period.  FAQs Is it OK to start investing at 30? Yes, it is a good idea to start investing at 30 years of age. It is never too late to start investing your money toward your financial goals. You can consult a SEBI-registered financial advisor and get the best advice to make a success. How can I build my wealth at 30? Here are some ways to build your wealth at the age of 30- Create an emergency fund Become debt-free Align investments with life goals Beating inflation Do not fear risk Do not disregard liquidity Invest continuously Is 32 too late to invest? No, 32 is not too late to invest. Be sure to connect with an expert who is SEBI-registered with ample finance experience to guide you on how to invest properly. Consult an expert advisor to get the right plan for you TALK TO AN EXPERT

It has become clear today that global education is one of the best possible decisions for young Indian students. If you are looking to study abroad after the 12th, then you will most likely have to take a general aptitude test. These tests determine your capability and potential for the course or university you are applying to. Aptitude test scores are among several variables that colleges consider when granting admissions.  The SATs and ACTs are the two main general aptitude tests recognized by US universities. Any Indian student looking to study abroad in the US will have to take either one of them. Here is a detailed guide on both. 1. SAT The Scholastic Aptitude Test (SAT) is the most common undergraduate aptitude test taken by students applying to American universities. It is administered by The College Board in the USA, a non-profit organization. This is the test you will have to take if you are planning to study abroad in the US after the 12th. Subject SATs have been discontinued by the College Board. 2. Eligibility You need to have completed 12 years of school education in order to apply for SATs. This means that Indian students who are still in 11th and 12th can also sit for the exam. There is no minimum GPA or other requirements for sitting for the SAT. If you are serious about your study abroad plans, it would be a good idea for you to sit for a practice SAT (PSAT) while you are in 11th before attempting the actual test. 3. Format The SAT has three main components: the reading test, the writing, and language test, and an optional SAT essay. The reading section tests your ability to comprehend, analyze, and interpret passages from different subjects. The writing test will require you to fix mistakes and edit passages to make them more sound in grammar and content. The math test includes algebra, problem-solving, and data analysis as well as advanced math, geometry, trigonometry, and equations.  All questions are multiple-choice. The SAT is a paper and pencil test that uses OMR sheets. There is no negative marking. Scientific and graphing calculators are permitted in the math section. The test takes about 3 hours: 65 minutes for the reading test, 35 minutes for the writing section, and 80 minutes for math. An extra 50 minutes may be allotted for the optional essay portion The SAT essay is optional but required by certain schools. It involves reading a passage and analyzing it to understand how the author builds an argument and supports your argument with evidence from the passage. The essay tests critical reading and analysis skills. 4. Scoring The maximum possible score achievable in SATs is 1600. This is a combined score from the reading and writing sections (800) and the math section (800). Your option essay will be given a score between 2 and 8. You will also receive a percentile score indicating where you stand in comparison to other students taking the test.  5. Validity SAT scores are valid for admissions to undergraduate courses in all US universities. Non-US universities also recognize SATs but do not consider them necessary criteria. Some private Indian universities also consider SAT scores for admissions. SAT scores are valid for 5 years after the reception of the results.  6. Registration & Fees For students from India and other South Asian countries, the SAT costs $101 without the optional essay component and $117 with the essay. You can either register online through the College Board website or through the mail. For registration through mail, you will have to get the ‘The Student Registration Guide for the SAT and SAT Subject Tests’ which contains the registration form from your school. This form will need to be sent to the College Board alongside a demand draft through the USIEF which is the regional representative for SAT in India. Keep in mind that mailed forms can take up to two weeks to reach their destination so it is important to maintain adequate buffer time. 7. ACT The American College Testing is another standardized aptitude test administered by the nonprofit ACT Inc. It can be used in lieu of SAT scores if you want to study abroad in the US. It has traditionally been less popular of the two, especially among Indian students aiming to study abroad, but the two tests are usually treated on par by admissions offices. Full-length practice tests for the ACT can be found on their website. 8. Eligibility There are no specific eligibility criteria or age limits for taking the ACT. Students below 13 years of age are generally not allowed to take the ACT but can contact Customer Support to create an exception. 9. Format The test includes four sections: English, math, reading, and science reasoning. There is also an optional writing composition section. The English section will ask you to edit passages to improve grammar, content, and brevity. It tests language usage and rhetorical skills. The math section includes algebra, geometry, and trigonometry. The reading section tests the ability to comprehend long passages, derive meaning, determine cause-effect, draw generalizations, and determine the author's narrative voice and method. The science section includes data representation, a research summary, and an analysis of conflicting viewpoints. The test takes 2 hours and 55 minutes: 45 minutes for English, 60 minutes for the math section, 35 minutes for the reading section, and 35 minutes for the science portion. The writing section is optional and is 40 minutes long. Like the SAT essay, the writing section of the ACT is optional and involves writing an essay in response to a given prompt on a broad range of social issues. Students have to analyze three different perspectives given and relate their own opinions to the given perspectives. 10. Scoring Each section of the ACT is scored on a scale of 1-36. This is then averaged to calculate a composite score which is also between 1-36. The optional writing section is evaluated by two different readers who each score it between 1-6 which is added up to a total score which is between 2-12. ACT also has an ELA (English Language Arts) score which you will only be provided if you take the optional writing section. This is a cumulative score, graded on a scale of 0-36 which rates your overall performance in the English, reading, and optional writing section. 11. Validity ACT scores, like SAT scores, are valid for admission in all US universities and are therefore appropriate for students looking to study abroad in American universities. They are valid for up to 5 years from the date of receipt of results. 12. Registration & Fees ACT registration fee for international students from India is $155 for taking the test without the writing section and $166.50 for taking it with the writing section.  Registration for the test can be done through the ACT website or through the mail. For registration through mail, you will have to request a mail packet from your school or through the website. Fill in the details in the form, including choosing a test center and date, and then mail the form to the address mentioned on the form. Keep in mind that it can take up to two weeks for your form to reach its destination by mail. Make sure you have ample buffer time. Conclusion Both the SAT and ACT are mainly meant for students looking to study abroad in the US. Both tests are treated equally by universities and are equal in difficulty. Non-US universities recognize SAT scores but do not consider them essential or necessary. So, if you are looking to study abroad outside the US, it is not essential that you take them.  It is always a good idea to look into higher education counseling when applying to foreign universities. This is especially true when you are fresh out of high school and unfamiliar with the intricacies of education planning. In either case, going to study abroad is certainly an educational adventure. We hope our guides can make this adventure a little bit easier! FAQs What is SAT? The Scholastic Aptitude Test (SAT) is the most common undergraduate aptitude test taken by students applying to American universities. It is administered by The College Board in the USA, a non-profit organization. This is the test you will have to take if you are planning to study abroad in the US after the 12th. Subject SATs have been discontinued by the College Board. SAT is used for admissions to which university? SAT is a common undergraduate aptitude test for students applying to American universities. What is ACT? The American College Testing is another standardized aptitude test administered by the nonprofit ACT Inc. It can be used in lieu of SAT scores if you want to study abroad in the US. Consult an expert advisor to get the right plan TALK TO AN EXPERT

If you are a young Indian student wanting to study abroad, you need to know about English Language Proficiency Tests. These exams are essential whether you go to study abroad after the 12th or after finishing your graduation. They are also valid in non-English speaking nations as long as the course you are applying for is taught in English. But what are some of the tests you can take and how do you take them? Well, here is a guide to help you with that. 1. IELTS The International English Language Test is conducted by the British Council and IDP in India. This test is for both students seeking to study abroad as well as people looking to immigrate for jobs or other purposes.  Format IELTS involves reading, writing, listening, and speaking tests. The tests are taken on paper or through a computer. Only the speaking test involves face-to-face interaction with a human examiner. The listening section involves listening to an audio recording before writing down your answer. This tests your ability to comprehend spoken English in different accents and contexts.  The test takes about 2 ½ hours to finish, minus the speaking section which can take about 15-20 minutes and may be held on the same day or later depending on examiner availability. Scoring Test takers are scored on a grade scale of 1-9. For most university admissions purposes, a score of 6.5 is the minimum you need to be considered eligible. However, if you want to study abroad for a Humanities program, particularly language, literature or media programs, the minimum score required may be higher, up to a 7 or 7.5. Validity IELTS is available in Academic and General Training types. The Academic test is the one you will need for study abroad purposes. The General Training type is appropriate for those looking to move abroad for jobs or non-degree school programs. IELTS is accepted by universities in the UK, USA, Canada, Australia, New Zealand, and the EU. If you are unsure of whether the school you are applying to accepts IELTS scores, you can use the IELTS website to check. The scores are valid for two years from the date of receiving the results. Fees  The registration fee for IELTS is Rs.14,700. You can register for and book a test through the IELTS website. You will have to go to the designated test location for your test. You will be required to have your passport in hand to register and to present your passport as ID proof at the center while taking the test. 2. TOEFL The Test of English as a Foreign Language (TOEFL) is used by universities in the US and Canada to test English language proficiency for aspiring international college students. It is conducted by the ETS or the Education Testing Service of the USA.  Format The TOEFL, unlike the IELTS, is an entirely computer-based test. It also has reading, writing, listening, and speaking sections. While the rest of the exam is similar in format to IELTS, the speaking section here involves speaking into a computer that records your voice. This recording is later evaluated by three to six examiners. The exam takes about 3 hours to finish. In light of the COVID-19 pandemic, ETS has also introduced home-based internet testing for TOEFL which involves web-based proctoring by a human invigilator. This is done through screen sharing and webcam.  Scoring Each section of the test is scored out of 30. The highest possible total score is therefore 120. The minimum score requirements differ from university to university and course to course. Anything in the range of 90-100 can be considered a rather safe score. A score above 100 is a very good score and may be necessary if you are applying for language, literature, or media programs.  Validity While TOEFL is popular with students going to study abroad within universities in the USA and Canada, schools in the UK, Australia, New Zealand, and the EU also often accept TOEFL scores. If you are unsure whether the school you are applying to accepts TOEFL, you can always consult the school’s website or go to the TOEFL website and check. The scores are valid for up to two years from the date of receiving the results. Registration & Fees The registration fee for TOEFL is Rs. 12,750. You will need your passport as an ID document at the time of registration. You can register for and book the test through the ETS website and then either take the test at the designated test center or at home. You will also need to present your passport at the test center on the day of the test. 3. PTE The Pearson Test of English (PTE) is another proficiency test for students looking to study abroad. It is administered by the testing agency Edexcel which is a subsidiary of the Pearson group. The PTE test is entirely computer-based and is evaluated by AI rather than human examiners. This eliminates human error or bias in evaluation. Format The PTE is a 3-hour test and includes three sections: speaking and writing, reading, and listening. Like the TOEFL, the speaking portion involves recording your verbal response for evaluation later on. The test is evaluated by AI. Scoring The PTE is scored on a scale of 10-90 based on an assessment. For a more detailed understanding of how the AI algorithm allows scores, you can check PTE’s score guide. A score of 58 in the PTE is roughly equivalent to a 6.5 in IELTS and a 59 is around a score of 87-88 in TOEFL - the very minimum scores considered by most universities for eligibility. Validity The PTE Academic test is used by students looking to study abroad. The PTE Home is for general immigration purposes for families looking to settle abroad. The PTE Academic is accepted by thousands of universities in the Anglosphere. You use the PTE website to check whether or not the universities you are applying to accept it. The scores are valid for two years from the date of receiving the results. Registration & Fees The standard price for a PTE Academic test is Rs.11,610. You can register and book a test for yourself by contacting your nearest test center which can be found on the PTE website. You will need your passport as an ID document at the time of registration. You will also need to present your passport at the test center on the day of the test. 4. Cambridge English Qualification Certifications Cambridge English is a producer and one of the co-owners of the IELTS test. They also conduct other English language qualification tests for various purposes including for schools, general and higher education purposes, and business English. These qualifications are both for studying abroad as well as general language certification purposes. Format The Cambridge English Qualifications are different from the previously mentioned exams in that they are not a single test but offer different certifications based on levels of proficiency. These levels are based on the CEFR standards, that is the Central European Framework of References for Languages. This is an international standard for grading language ability on a six-point scale from A1 (beginner) to C2 (completely proficient). A C1 level (CAE or Certificate in Advanced English) or a C2 level (CPE or Certificate of Proficiency in English) is generally required for higher education purposes. An IELTS score of 7 or higher is also considered C1 level proficiency and a score of 8 or higher is considered C2 level proficiency without having to sit for these exams separately. These exams also include reading, writing, listening, and speaking sections with the last one conducted through face-to-face interaction with a human examiner. The CAE and CPE exams are quite intensive and take about 3 hours for the reading and writing section, 40 minutes for the listening section, and 15 minutes for the speaking test. Scoring The CAE and CPE results are scored on the Cambridge English Scale. You need a score of 180 above to be considered C1 and a score of 200 above to be considered C2. In case you score lower than that, you will still be given a certificate but for a lower level like B2 or B1 which indicates preliminary or basic proficiency. Validity CAE and CPE are accepted by all universities in the UK. They are also accepted by many universities in the EU, USA, and Canada. You can check their website to ensure your school is one of them. The certificates are valid for a lifetime, however, universities may ask for recent test scores - no more than two or three years old. Registration & Fees To register for these exams, you will first need to find a test center near you. Cambridge English Qualification exams are conducted both in paper-based and computer-based modes. You will have to travel to the test center to sit for the exam. Since the tests differ in fee, you will have to contact the testing centers directly to find out about the fees. TALK TO OUR LOAN EXPERTS! FAQs What are the English language proficiency tests? If you are a young Indian student dreaming of studying abroad, you will have to prove your English proficiency. For this, you will have to take a test to prove your proficiency. These exams are essential whether you go to study abroad after the 12th or after finishing your graduation. They are also valid in non-English speaking nations as long as the course you are applying for is taught in English. How much is the IELTS exam fee? A student needs to pay Rs. 16,250 to attend the IELTS exam. Is IELTS very difficult? The International English Language Test is conducted by the British Council and IDP in India. This test is for both students seeking to study abroad as well as people looking to immigrate for jobs or other purposes.   IELTS involves reading, writing, listening, and speaking tests. The tests are taken on paper or through a computer. Test takers are scored on a grade scale of 1-9. For most university admissions purposes, a score of 6.5 is the minimum you need to be considered eligible. What is the most popular language proficiency test? International English Language Testing System (IELTS) and the Test of English as a Foreign Language (TOEFL) are two of the most popular language proficiency tests. Conclusion This was a detailed guide to every English language proficiency qualification test that you can consider if you are planning to study abroad. It is very important to choose the most suitable test for your needs to avoid your application being rejected. All of the tests listed here are widely recognized and accepted, especially the first two. However, it is important that you do your due diligence as well by checking all individual admission requirements for your prospective schools.

The process of applying for higher education admission can be an overwhelming experience for many students. With the increasing competitiveness of universities and colleges, it is essential to have a strong admission strategy to improve your chances of getting accepted. In this regard, students frequently consider the question, "How can I improve my college admissions?" and look for strategies to boost university enrollment.   To help students achieve their academic goals, there are several ways to improve college admissions, such as building a strong academic record, participating in extracurricular activities, and crafting a compelling application. In this article, we will explore effective strategies and provide tips on how to improve your college admissions, ultimately increasing your chances of securing a spot at your desired institution. 1. Focus on academic performance  One of the most critical factors in improving your college admissions is academic performance. Admissions committees look for students who have challenged themselves academically and maintained a high GPA. To improve your academic performance, take challenging courses that align with your interests and future career goals. Consider participating in academic competitions and programs, such as science fairs, writing contests, or debate teams, to showcase your skills and passions. Seek opportunities for academic recognition and awards, such as honor societies or scholarships, to demonstrate your commitment to learning and achievement.  https://www.youtube.com/shorts/ycDKvqDM4yY 2. Build a well-rounded profile  In addition to academic performance, admissions committees also look for well-rounded students who have pursued diverse interests and passions. To improve your profile, consider joining clubs and organizations that align with your interests, such as student government, music ensembles, or sports teams. Volunteer for community service projects or non-profit organizations to demonstrate your commitment to making a positive impact. Pursue leadership positions in extracurricular activities to showcase your ability to take initiative and inspire others.  3. Develop strong relationships with teachers and mentors  Strong relationships with teachers and mentors can be invaluable in improving your college admissions. These individuals can provide guidance and support for your academic and personal goals, as well as write strong recommendation letters for your applications. To develop strong relationships, actively participate in class, ask questions, and seek feedback on your work. Attend office hours or schedule one-on-one meetings with your teachers or mentors to discuss your academic progress and goals. Connect with alumni and professionals in your desired field of study to gain insights and advice on the college admissions process and career opportunities.  4. Craft a compelling application  Crafting a compelling application is crucial in improving your college admissions. This includes paying attention to the details, such as spelling, grammar, and formatting, and emphasizing your unique qualities, experiences, and achievements. To create a compelling application, start by researching the admissions requirements and policies for each institution you apply to. Personalize your application to each institution by highlighting how you align with their mission and values. Consider seeking feedback on your application from teachers, mentors, or college counselors to ensure that it is clear, concise, and engaging.  5. Consider additional factors that can impact admissions decisions  In addition to academic performance, extracurricular involvement, and application quality, there are several other factors that can impact admissions decisions. Taking standardized tests, such as the SAT or ACT, and preparing well in advance can improve your scores and increase your chances of acceptance. Researching the admissions requirements and policies for each institution can help you determine which schools are a good fit for your goals and qualifications. Consider applying to a diverse range of schools to increase your options and opportunities, including safety schools and reach schools.  6. Seek out unique experiences and opportunities  Admissions committees often look for students who have pursued unique experiences and opportunities that set them apart from other applicants. This includes studying abroad, conducting research, completing internships, or pursuing independent projects. Seek out these opportunities to demonstrate your curiosity, creativity, and initiative.  7. Start early and stay organized  The college admissions process can be lengthy and complex, so it's essential to start early and stay organized. Research schools and their admissions requirements well in advance of application deadlines. Create a timeline and to-do list to keep track of important dates and tasks, such as taking standardized tests, requesting transcripts, and writing essays.  8. Demonstrate your passion and commitment  Admissions committees want to see that you are passionate about your chosen field of study and committed to pursuing your goals. This could include participating in related extracurricular activities, pursuing relevant internships or jobs, or completing related coursework. Demonstrate your passion and commitment in your application materials, including essays, resumes, and interviews.  9. Be authentic and genuine  Finally, it's essential to be authentic and genuine in your application materials. Admissions committees can often detect when applicants are being insincere or trying to present a false image of themselves. Instead, focus on highlighting your unique qualities, experiences, and achievements in a genuine and honest way that accurately represents who you are as a person and student.  By following these tips and strategies, you can improve your college admissions and increase your chances of getting accepted to the college or university of your choice. Remember, the college admissions process can be challenging, but with hard work, dedication, and perseverance, you can achieve your academic goals and set yourself up for success in higher education and beyond.  Conclusion  There are many ways to improve your college admissions and increase your chances of getting accepted to the school of your dreams. By focusing on your academics, taking standardized tests seriously, participating in extracurricular activities, seeking out unique experiences and opportunities, staying organized, demonstrating passion and commitment, and being authentic and genuine in your application materials, you can create a compelling application that stands out to admissions committees. Remember to start early, work hard, and stay true to yourself throughout the process. With dedication and perseverance, you can achieve your academic goals and pave the way for a successful future in higher education and beyond.

Preparing your child for a school interview can be an overwhelming task for both parents and children. It is natural for parents to feel anxious about the interview process as they want to ensure that their child has the best chance of getting into their desired school.   The key to reducing this anxiety is to adequately prepare your child for the interview. This involves practicing interview questions and discussing potential topics that may come up. In this process, it is crucial to familiarize yourself with common education interview questions and primary education interview questions.   By doing so, you can help your child feel more confident and relaxed, which can ultimately improve their chances of success. In this article, we will discuss some tips on how to prepare your child for a school interview and the types of questions that may be asked.  12 tips on preparing for the Interview  Start by explaining the purpose of a school interview and why it is important for parents and children to prepare adequately for it. Emphasize the fact that school interviews are designed to assess the suitability of the child for the school and to ensure that they will thrive in the school's academic and social environment.  Discuss the types of questions that may be asked during a school interview, including both general education questions and primary education questions. Examples of general education questions could include questions about the child's academic strengths and weaknesses, hobbies and interests, and extracurricular activities. Primary education questions could include topics such as the child's familiarity with basic math and literacy skills, their ability to follow instructions, and their behavior in a classroom setting.  Provide tips and strategies for preparing your child for a school interview. Encourage parents to practice interview questions with their children and to help them develop effective communication skills. Encourage children to be confident and to express themselves clearly during the interview.  Discuss the importance of being honest during the interview. Encourage children to be truthful about their academic strengths and weaknesses, their interests and hobbies, and their goals for the future.  Emphasize the importance of showing enthusiasm and interest in the school during the interview. Encourage children to ask questions about the school and to show that they are excited about the possibility of attending.  It can be helpful to research the school beforehand to gain an understanding of the school's values, teaching methods, and areas of emphasis. This can help parents and children tailor their responses to better align with the school's mission and values.  Remind parents and children to dress appropriately for the interview. While it may not be necessary to dress in formal attire, it is important to wear clean and presentable clothing that shows respect for the interview process and the school.  Encourage children to practice active listening skills during the interview. This includes maintaining eye contact, paying attention to the interviewer's questions, and responding thoughtfully and respectfully.  Parents can also help prepare their children for the interview by role-playing different scenarios and responses. This can help the child feel more comfortable and confident during the actual interview.  It's important to emphasize that the school interview is not just about academic achievements, but also about the child's character, personality, and potential. Encourage children to showcase their unique qualities and strengths during the interview.  Remind parents and children that the school interview is just one part of the admissions process and that there are many factors that are taken into account when making admissions decisions. Encourage parents and children to stay positive and focus on doing their best during the interview.  Finally, remind parents and children to be themselves during the interview. While it's important to prepare and practice, it's also important to be authentic and genuine. This can help the child feel more comfortable and confident. It can also help the interviewer gain a better understanding of the child's personality and potential.   By following these tips and strategies, parents can help their children feel confident and prepared for their school interview and increase their chances of success in the admissions process.  Conclusion  Preparing your child for a school interview is an important step towards securing their place in the school of their choice. By familiarizing yourself with education interview questions and primary education interview questions, practicing with your child, and encouraging them to be confident, honest, and enthusiastic, you can help them feel more comfortable and increase their chances of success.   Remember to research the school beforehand, dress appropriately, practice active listening, and encourage your child to be themselves during the interview.   With these tips and strategies, you can help your child shine during their school interview and stand out among the competition. Whether you're looking for primary education interview questions or general education questions, preparing your child adequately for their school interview can make all the difference in their future academic success. 

Studying abroad can be a life-changing experience, providing you with unique opportunities to learn, grow, and explore new cultures. However, the cost of tuition, living expenses, and travel can be significant, making it difficult for many students to finance their education. In such cases, education loans can be a useful tool to cover expenses.   While it may be tempting to quickly sign the loan agreement, it is essential to read and understand the fine print in the document carefully. This is because the terms and conditions of the loan agreement can have a significant impact on your financial future, and failing to pay attention to the details could result in unexpected costs, fees, or penalties.  In this article, we will discuss the importance of understanding the fine print in your abroad education loan agreement and highlight some crucial things to watch out for to ensure that you make an informed decision when borrowing for your education.  1. Do you qualify to apply for a student loan?  To determine eligibility for an education loan, one must identify banks that offer loans for the chosen course. Generally, banks don't offer loans for short-term or vocational courses. However, if an internationally recognized institute has accepted the application, the chances of getting a loan may increase. Extensive research should be conducted to determine the educational loan options available. A list of institutes that provide loans for the desired course should be created. Additionally, it is important to determine whether a co-signer or collateral is needed for the loan.  2. Can you afford to pay your bills?  It is important to note that if the education loan amount exceeds Rs. 4 lakhs, a marginal sum must be paid to the bank. A co-signer is required if the loan amount exceeds Rs. 5 lakhs, and collateral is necessary if it exceeds Rs. 7.5 lakhs. It is crucial to estimate expenses and keep in mind that the loan amount applied may not be the amount received. Research should be conducted to determine if the preferred educational institution has partnerships with banks or lenders and if any concessions are available for international students.  3. Where should you submit a loan application?  Researching various options on the internet is the best way to find a suitable lender for a personal loan. It is crucial to compare personal loan interest rates and examine the repayment options and clauses of different banks and lending entities. Choose a loan that meets all needs without stretching finances too thin. Additionally, it is important to investigate the expenses that these banks cover, which could include tuition fees, travel, living expenses, equipment costs, and other necessary expenses.  4. How does the loan application procedure work?  Applying for a loan typically involves a significant amount of documentation. Lending institutions usually require identity proof, address proof, and signature proof, among other documents, to process the loan application. It is crucial to follow the list and instructions meticulously to ensure that all necessary documents are provided. Lending entities often offer assistance with documentation concerns if requested. Before signing the agreement, it is important to carefully read and understand the fine print of the agreement to avoid any misunderstandings or discrepancies later on.  5. How will the loan be repaid?  The repayment period clause is an important component of the loan agreement with the lender. It typically provides a moratorium period before the borrower must begin making EMI payments. This grace period allows the borrower time to secure a job before beginning repayment. In the event that the borrower is unable to find employment, some lenders may extend the pay-off period based on their relationship with the borrower. It is advisable to discuss repayment options with the lender while applying for a personal loan. It is important to note that not all banks will defer loans, and this is typically done only under exceptional circumstances.  https://www.youtube.com/watch?v=4gTQkdePOWM Advantages of requesting a student loan  There are several benefits to applying for an education loan, including:  Financial assistance: Education loans provide financial assistance to students who may not have the means to pay for their education themselves. This enables students to pursue their academic goals without financial constraints.  Competitive interest rates: Most education loans come with competitive interest rates, which are generally lower than those of personal loans or credit cards.  Tax benefits: Under Section 80E of the Income Tax Act, the interest paid on an education loan is tax-deductible, which can help reduce the overall tax liability.  Flexible repayment options: Education loans typically offer flexible repayment options, such as moratorium periods, longer repayment periods, and customized repayment plans.  No collateral required: In many cases, education loans do not require collateral, making it easier for students to secure funding for their education.  Improve credit score: Timely repayment of education loans can help students build their credit score, which can be beneficial in the long run when applying for other loans or credit.  Conclusion Applying for an education loan can be a great option for those who are looking for financial assistance to pursue their academic goals. With competitive interest rates, flexible repayment options, tax benefits, and the potential to improve credit scores, education loans provide a valuable resource for students who need funding for their education.  It is important to research various lenders and their loan options, carefully review the loan agreement and repayment terms, and ensure that all required documentation is provided to secure the loan. With careful planning and execution, an education loan can be a valuable tool for students seeking to achieve their academic dreams. 

If you are of an artistic bent, becoming a professional artist must have crossed your mind at least once. Art is exciting, certainly more exciting than being buried in spreadsheets in a corporate job. It is through art, and through art only, that we can realise our perfection.” Oscar Wilde But what does art as a profession really entail? What are the things you need to know? What kind of education plan do you need to follow? Is a scholarship enough or do you need an education loan? Also, how do you make money from an art degree anyway? Well, here are some things you can do. 1. Knowing your education & career options Art degrees are not really as monolithic as you may think. They can lead to many different career avenues. As a matter of fact, there are many different kinds of art degrees! You have to figure out which degree is right for you. A Fine Arts degree is quite different from an Applied Arts or Design degree. In addition, there are specialized design degrees like graphic design, fashion designing, web designing, and many more. Fine arts, similarly, has specialized degrees in fields like painting, sculpture, printmaking, and so on. There are also degrees and disciplines that are loosely allied with arts but have different scopes and interests, for example, art history and curation.  Not all artists spend all their time in their studios or make money the same way. Design degrees can get you a well-paying corporate or freelance career. Fine arts degrees can also be lucrative, especially if you plan on teaching. It is important that you determine what kind of art course you want to take to understand the career options that would be available to you. 2. Finding the best fit Once you have determined what kind of degree and career path you want to undertake, you need to find a university or school that would be the best fit for you. Art school is one career path where studying abroad is worth it and makes a lot of sense. This is because universities abroad offer much better infrastructure, networking, and job opportunities, all crucial for any budding artist.  Image from Andrea Piacquadio on Pexels Research universities that are the best fit for you. This involves looking at their location, faculty, infrastructure as well as funding opportunities. Make sure that the university you are choosing is a good fit for the kind of artistic career path you have in mind. Choosing the right university is crucial to your education plan if you want to study abroad. 3. Convincing your parents If your parents are encouraging and supportive of your choice to pursue an art degree, that’s great! You are lucky! In fact, you are part of a lucky minority. Most parents tend to be a little iffy about any non-traditional career paths. If your parents fall into that majority, you may need to sharpen your persuasion skills a little.  Talking to your parents and persuading them is not as difficult as you may think. What you need to do is research and prepare a proper education plan. This plan is to show your parents that you have properly considered the details and intricacies of your decision and are prepared for any issues that might pop up. Image by Rodnae Productions on Pexels If that does not work, you can take the help of an education and guidance counselor. Counseling can help bridge the gap between you and your parents and bring them on the same page as you. Education counseling can also help you smooth out any kinks in your education plan. It can help you come up with comprehensive and pragmatic solutions that will enable you to follow your passions without reaching a career dead end.  You can even look for education counseling online if in-person sessions are not possible. 4. Securing Funding Art school is expensive. Not just tuition costs, but the costs of procuring materials and art supplies for projects and assignments can get pretty high.  You should look into the websites of the colleges you are applying to and talk to the admissions officer about funding opportunities. Look into the kinds of scholarships they have available and that their students and alumni have availed. Research one-time grants or fee waivers that you may be eligible for. You may need to secure an education loan. In that case, you should try to familiarise yourself with them. Find out how to apply for an education loan, the procedure, documents required, interest rates, repayment rules, etc. It could also be helpful to use an education loan calculator to figure out how much you can borrow and how much you would have to repay.  Talk to your parents because they are likely to have investments and savings set aside for your education. Education funding can be stressful but it is a necessary part of higher education planning. 5. Creating A Portfolio Portfolios are important when you are applying to an art school. A portfolio is a collection of your best work that basically acts as your resume. It presents the work you have done and are capable of doing so that admission committees can judge your skills and workmanship. A portfolio should therefore feature your best work but should also be diverse. You want to show people that you can do more than one kind of artwork and have more than one skill set.  You should refer to the websites of the universities you are applying to find out what they are looking for in a portfolio. Talk to admissions officers and current students and alumni of that university. You can also try to go online and look at other people’s portfolios to get an idea of how you should structure your own and what kind of artwork you should include. A portfolio contains artwork that is not just simply pretty to look at but also showcases the versatility of skills. For example, a simple landscape may be pretty to look at but does not really show any exceptional talent, skill or vision. Choose pieces that show your artistry with brushwork or impasto work. Pieces that are unique and show complexity and expertise with different materials or media are perfect for portfolios. What’s Next? Art school is a great place to both satisfy your passion and begin an exciting and promising career. You will be learning not just how to make great art but also how to sell and market that art. You will need to remember that you are not just here to learn artistry but to learn how to make a career out of that artistry. But even more than that, you are in college on an adventure! Remember to have fun on this adventure! FAQs How do I get into art school? There are many art schools across the world. The best way to start is to build a portfolio and check out the requirements for your chosen course. What subjects are needed for art school? You do not need to study any particular course for enrolling at art school. However, having an art subject like drawing, photography, fashion, designing or painting can be helpful. It gives a creative outlook and helps you build your portfolio that is required by most design/art schools in the world. What are the five steps for applying to an art school? Here are the 5 steps for applying to an art school - Knowing your education & career options Finding the best fit Convincing your parents Securing Funding Creating A Portfolio Consult an expert advisor to get the right plan TALK TO AN EXPERT