Category Archives: Education

Do you intend to study abroad and are an Indian student? There are many financial avenues to achieve this goal. Here are 7 Indian scholarships that help Indian students turn their dream of studying abroad into a reality.  Indian government provides financial aid to Indian students who want to pursue their aspirations of studying abroad. Some well-known Indian government scholarships for studying abroad are given below. Let's start!  1. Fullbright-Nehru master’s scholarships  The Fulbright- Nehru Master’s Fellowships can be claimed by talented and determined Indian scholars with applicable work experience. These scholars need to display significant rates of leadership, in addition to work experience and academic qualifications.  It's a merit-grounded and need-grounded program offered by the United States- India Educational Foundation. Please note that the quantum is variable and can be renewed yearly.  Coverage of accident and sickness costs as per the United States government guidelines. also, this education also funds the round-trip frugality class chow.  scholars who have completed a degree fellow to the United States bachelorette’s degree are eligible to admit this education. This includes the completion of a four-time bachelorette’s program, master’s program, or postgraduate parchment. 2. Great Wall Program  Learn about The Great Wall Program if you're interested in pursuing higher education in China. You can achieve it with the help of this scholarship.  You should be aware of a few things regarding this government scholarship for studying abroad. Among them are:  First, this scholarship will cover the cost of tuition, a regular stipend, health insurance, and housing.  Second, applicants for this scholarship must be under 45 years old and have a bachelor's, master's, or comparable degree.  Last but not least, UNESCO created this government scholarship program for academics and students looking for financial support to study and conduct research in China. 3. The JN Tata Endowment Scholarship  If you want to pursue a degree at a global university, you are eligible for this government award for students.  Depending on whether the student meets the eligibility requirements, the scholarship amount may range from INR 1,000,000 to INR 10,000,000.  A gift scholarship worth INR 75,000 can also be suggested for students. Based on the student's academic standing at their university, gift scholarships may be given. However, you must pay back the scholarship money in equal payments of 20%. Repayment can start if you're a resident between both the third and seventh years of your stay. You will have to start paying back the government scholarship money if you start working before your third year.  4. Aga Khan Foundation International Scholarship Program  Students have a wonderful opportunity to study at institutions in Portugal, France, the United Kingdom, Canada, and the United States thanks to the Aga Khan Foundation Scholarships. As a result, it is among the most sought-after government scholarships offered by India for international study.   Even so, when applying for this govt full scholarship overseas, there are some points to bear in mind. Students who apply for this award will receive a 50/50 loan and grant. Most applicants for the master's programs are given preference. However, you might need to look into other scholarship options for short-term programs like certifications and postgraduate degrees.  The demonstration of continuous intellectual effort and achievement is one of the qualifying criteria for this scholarship program.  5. Lady Meherbai D Tata Education Trust Scholarship  The Lady Meherbai D Tata Education Trust Scholarship stands out since it is designed exclusively for Indian women. Students now have a great chance to continue their academic education at an academic institution abroad.  If you're planning to qualify for this scholarship, read the following information. This scholarship can be used for Masters-level courses in places including the United States, the United Kingdom, and Europe.  You should have at least two years of professional experience in your chosen industry.  Proof of financial status is another crucial document needed to be eligible for this government scholarship FAQs How can an Indian student get a scholarship to study abroad? There are many ways to get a scholarship to study abroad. One of the most common is academic excellence, Many scholarships have eligibility criteria where they evaluate students based on merit and check their overall academic performance before selecting them. The most common selection parameters are 12th board exam results, IELTS/TOEFL scores, extracurriculars, SOP, and LORs submitted by the candidates. Interviews play an important role in the selection process. How can I get a 100% scholarship to study abroad? To win a 100% scholarship to study abroad you need an excellent academic history and an overall high-caliber resume. Many scholarships like Fulbright or Rhodes offer 100% scholarships, you can apply for them and get your ticket to your dream school. Which scholarship is best for Indian students to study abroad? There are many scholarships for Indian students to study abroad such as: Fullbright-Nehru master’s scholarships Great Wall Program The JN Tata Endowment Scholarship Aga Khan Foundation International Scholarship Program Lady Meherbai D Tata Education Trust Scholarship Consult an expert advisor to get the right plan TALK TO AN EXPERT

The abroad education loan process can prove tricky if you are not aware of the intricate details about the steps involved in the procedure, for example, how to apply, the documents that need to be submitted, and the time to get the loan process approved.  Education loans are one of the common sources of funding education abroad in recent times. As education inflation is reaching new heights and education costs are rising day by day, one can consider applying for education loans to support their already existing savings. An overview of the abroad education loan process Each year thousands of students apply for an abroad education loan as they want to pursue further studies at top universities of the world. The biggest challenge is arranging funds through education loans, as the cost of studying and living abroad is very high.  Students in India can apply for secured education loans from government banks, private banks, PSU banks, and unsecured loans from non-banking financial corporations. Students also have the option of getting education loans from foreign banks that offer loans to non-native students for global education. How to apply for an abroad education loan process? Fill out the online application form provided by the bank that you have shortlisted for the education loan. Visit the bank and confirm all the documents that will be needed by the bank for forwarding the loan process further. Gather all the required documents in a file and submit them to the proper authority in the bank. Enquire about the lawyer and valuator and get the legal opinion and valuation report from the lawyer and valuator, respectively, which will be later submitted to the bank by the valuator. The complete documents are then sent to the loan processing cell, and the processing officers go through the submitted documents and verify the loan application. The bank then sanctions the loan, and the loan applicant will have to visit the bank and sign all the necessary documents.  Post visa approval, applicants will have to revisit the bank and complete the property mortgage process if any property has been mortgaged against the loan.  Funds are disbursed after signing a disbursement agreement.  Applying for an abroad education loan through the Edufund app is simple. Submit all the documents and the loan application form once you have received the offer letter from a university. As soon as you clear the eligibility criteria, the loan gets approved, and you can sign the loan agreement. Documents required for applying for abroad education loan process The financial institution where you have applied for the abroad loan application will require details of the applicant and the co-applicant.   Properly-filled application form. Documents confirming identity details and residence proof of the applicant and co-applicant. It can be a passport, voter ID, pan card, driving license, or Aadhar card that would show personal details and current address. Passport-size photographs of both the applicant and the co-applicant Academic documents of the applicant that depicts the total academic and professional experience.  This includes mark sheets and certificates of class – 12, graduation, and the results of the admission test that the applicant has taken, like SAT, TOEFL, LSAT, GMAT, IELTS, or GRE.  The acceptance letter that the applicant has received from the university is the admission proof for studying abroad. Last six months' bank statements of the applicant and the co-applicant. Income proof of the co-applicant that shows that they are capable of fulfilling the terms of loan payment in case the applicant is unable to do so. In the case of collateral, the property title deed, building approved plan and NOC for a mortgage from the builder is needed.  Time required to get the loan process approved It takes nearly 45 days to 2 months to start the processing for the submitted loan application. Edufund has tied up with several top banks in the country and can process the loan in comparatively fewer days. The experts associated with the app will negotiate on your behalf and get the best possible offer on loan rates.  Conclusions  Students who are aware of the various steps involved in the abroad education loan process can plan, prepare and take full advantage of the knowledge so that the application process for the loan procedure is smooth, fast, and quick.  Take the help of the experts on the Edufund app to choose the best possible education loans with top banks. Qualified counselors will help to make the process smooth and easy and ensure that the education loan is available on time at the best possible rates. There are no hidden costs and zero commission, which will help to save on unnecessary fees.  Consult an expert advisor to get the right plan TALK TO AN EXPERT

In this blog, we will explore the best ways to save for your child's education! Education in India is viewed as a stepping stone to a good future. ‍The race to get children into the best colleges is so keenly fought that every Indian parent can qualify for a role of an expert counselor. The “padhai karo, nahi tho achchi Naukri kaise lagegi” line is so often heard that it could very well replace the “so jao, varna gabbar aa jayega” line. ‍The belief that a good education will provide for a good life, is entrenched in the way we think. Indian parents are willing to go to lengths to provide their children with the best education and are ready to spend as much as it takes. Many parents start saving when their child is very young, to prepare for future college-related expenses. ‍In this blog, we will look at 5 avenues where Indian parents can consider investing their hard-earned money. 5 Best ways to save for your child's education Your child's education does not deserve to be compromised and here are some ways in which you can plan ahead and start taking small steps toward your child's college fund. ‍Let's get started. ‍1. Investing in Mutual Funds We're sure you have heard of the phrase 'mutual funds' Sahi hai! And when it comes to saving up for long-term investments, mutual funds definitely Sahi hai! ‍Investing in mutual funds as a way to build a corpus fund for a particular goal has gained a lot of interest in the past decade or so. Building a retirement fund or a home purchase fund is very common and a small percentage of investors are also parents keen on saving up for their child’s education. Investing in mutual funds is viewed as a potentially high-return investment with the risk involved since the returns on mutual funds are market-related. Markets have been extremely volatile in the recent past, but mutual funds should still form a large part of an education fund, considering the longer time horizon involved. It is possible to invest as per your risk preference and redemption is far easier when you need the money. With Systematic Investment Plans (SIPs) that give you the option of investing monthly, there is a possibility of better returns compared to one-time/lumpsum investment mutual funds, especially over longer investment periods.   INVEST IN MUTUAL FUNDS 2. Exchange Traded Funds (ETFs) ‍For those of you who are unfamiliar with the concept of ETF, it is basically a basket of securities that is traded on an exchange. They are similar to mutual funds. ‍Investing in ETFs can prove to be a successful investment option when saving up for your child's education. The reason is, that you will be investing your money in dollars, therefore, if your child aspires to pursue his/ her education abroad, the dollar holds more value than many other currencies. INVEST IN ETFs 3. Buying Insurance Plans Buying an insurance plan to provide income security to your child is also an option. Many of these so-called child plans provide insurance cover and also market-linked returns after a fixed tenure. ‍However, returns on these plans have been volatile and impacted by frequent regulatory changes. Also, child insurance policies may not be the best investment option, because they are bound by various terms and conditions. 4. Buying Real-Estate Yes, this holds true for parents trying to save up for their children even today. Real Estate is considered by many, to be a good long-term investment. Since the time horizon that parents should consider is 15-20 years, real estate investments are good to maintain a diversified portfolio. But, real estate has lost its sheen as an attractive investment option over the past decade or so, due to excess inventory and regulatory impacts. ‍There are a number of hassles when investing in real estate. Other than the declining returns – unreliable deals, possible legal tangles, and a high wait time when one wants to sell are some of the factors to consider if this is an investment option for you. 5. Investing in PPF In India, the Public Provident Fund, or PPF is the go-to option for many parents when investing in their child’s future. It is a low-risk option that is exempt from tax on the withdrawal. The returns are lower but predictable. However, there is a limit to the amount of money one can invest through this route – the upper limit is Rs. 1,50,000, annually. PPFs are also less suited when an investor is ready to take more risk and willing to invest in market-linked funds. FAQs How can we save for children's education? Ans. Investing in mutual funds, exchange-traded funds, buying insurance plans, buying real estate, investing in PPF.  What is a good educational plan? A solid educational plan will give your family and you a road map for your future educational and professional objectives. Although parents and kids are free to start as early as they'd like, planning for college and technical training at the middle school level is not too early.  What is the best savings plan for a child? Ans. Sukanya Samriddhi Scheme, Make Investments in Gold, Invest in Equity Mutual Funds, Investments via Recurring Deposits.   Why save for your child's education? Ans. You can avoid taking on significant debt to pay for your child's higher education by starting a savings plan early, even before they enter kindergarten.  What is the right time to start saving for your child's education? The right to start saving for your child's education is as early as possible. The earlier you begin, the better it will be for your investments, as you'll be able to take advantage of the power of compounding. Conclusion We hope now you have a decent idea of what investment options you could consider, as well as the pros and cons of each. In our next post, we will look at why we think mutual funds - through SIP mode - are a good way to build a corpus fund with the goal of educating your child. With this kind of education fund, you can stop worrying about the finances that are required to send your child to the college of her dreams. ‍Your investment today will gift your child a good life, tomorrow. Consult an expert advisor to get the right plan TALK TO AN EXPERT

The cost of studying for an MBA abroad can be high compared to studying MBA in India. Indian students have to pay higher tuition fees than international students and have to manage living costs in a foreign currency. All these factors can affect the overall cost of studying MBA abroad much higher.   Students can choose from any of the foreign nations to complete the MBA program. The cost of an MBA is determined by the area of expertise and study location you choose. The typical tuition cost and daily living expenses for international students are listed below Pre-arrival costs for studying MBA abroad  Even before departing for an MBA abroad, an international student must pay a range of expenditures. The pre-arrival costs associated with admission exam registration fees, application fees, visa application fees, flights, etc., must be included in the MBA fees in foreign countries. Look at the estimated pre-arrival costs included in the MBA abroad tuition for Indian students:  Costs:  IELTS registration fee – INR 18,000-19,000   TOEFL registration fee – INR 14,550   GRE registration fee – INR 15,700   GMAT registration fee – INR 21,000   Airfare (depending on destination) - INR 30,000-120,000   https://www.youtube.com/watch?v=sIJ5VeZQODE Application fees for International MBA  When enrolling for an MBA overseas, you will be required to pay an application fee. This cost is included in the foreign MBA pre-arrival costs. Application costs for MBA at universities abroad:  USA – INR 16,000 to 24, 000   UK – INR 20,000  Canada – INR 3,000 to 20,000   Australia – INR 4,000 INR to 20,000   New Zealand – INR 2,000 INR to 7, 000  These ranges are for a single application. The total cost of applying to multiple business schools can go higher. Some universities do waive application fees for candidates but a huge set of universities do levy these fees on international students.  Application fees for visas for MBAs abroad  The cost of applying for a visa is one of the many pre-arrival fees for overseas students. There are many types of student visas that are required by various foreign nations; applications must be submitted on time and with the required fee. Student visa categories and associated application costs for MBA study abroad:  F-1 student visa (USA) - INR 41,000 to 50,000   Tier 4 student visa (UK) - INR 35,000 to 40,000   Canadian study permit (Canada) - INR 12,000 to 15,000   Student visa subclass 500 (Australia) - INR 36,000 to 37,000   New Zealand student visa (New Zealand) - INR 28,000 to 29,000  Living expenses for international students abroad  The living costs for international students are one of the significant costs associated with an MBA abroad. Keep in mind that living expenses in other countries are much higher than in India and must be taken into consideration. Only a select few of you will be fortunate enough to receive an all-inclusive scholarship that will cover your living costs, so for the rest of you, you will need to properly budget for this when determining the cost of an MBA program overseas.  Before looking at the cost of living for an MBA abroad, you should be aware that the precise amount will depend on the type of housing you select, such as on-campus or off-campus facilities, whether you have a private or shared room, the amenities you desire, and where you are located in the country. When calculating the price of an MBA program overseas, you'll discover that certain places have significantly higher monthly costs than others. So, if money is limited, look for universities in areas with low costs of living. In the majority of foreign nations, international students are also permitted to work part-time, which can be a very helpful source of revenue for your daily expenditures.  Annual living expenses for MBA study abroad:  USA: INR 765,000 - INR 13,80,000   UK: INR 920,000 - INR 18,40,000   Canada: INR 840,000 - INR 12,25,000   Australia: INR 920,000 - INR 16,86,000   New Zealand: INR 765,000 - INR 11,50,000   If you want to calculate the cost of college then you can check this link here.  Conclusion  Yes, the expense of an MBA overseas may seem overwhelming to you, but try not to get discouraged if the price tag is out of your price range. There are many financial aid options available specifically for international students to allay your financial concerns and inspire you to pursue a degree overseas. You can achieve your objective by working harder, taking on part-time jobs, or saving as much money as you can. Once you finish the program, all of your investment will eventually provide fantastic profits.  FAQ Which country is the cheapest for MBA?  Germany is said to be the cheapest country for doing MBA. Is MBA abroad expensive? In India, an MBA will set you anywhere between INR 7,50,000 and INR 25,000. On the other hand, the cost of an MBA will range from INR 20,00,000 to 75,00,000 if you plan to study abroad in a country like the United States, the United Kingdom, Canada, or Australia. Is MBA cheaper in India or abroad? This is a completely different premise, and the solution is straightforward: if you can afford it, an MBA from a mid-level university abroad is preferable to an MBA from a private institute in India. The return on investment is just higher. A few foreign universities provide MBA courses at significantly cheaper costs than anticipated.  Can I study MBA abroad for free?  Search for grants and scholarships if you want to study abroad without breaking the bank. Each year, thousands of overseas students get financial aid from universities, foundations, charities, and government agencies for their living expenses and tuition.  Consult an expert advisor to get the right plan TALK TO AN EXPERT

261,406 Indian students studied abroad in 2022, according to the Ministry of External Affairs, and more students are anticipated to enroll in top-notch programs next year.  The best way to pay for studying abroad is often thought to be through student loans. Loans for studying abroad come in a variety of forms. Let's learn about them and help you choose your best option. Types of education loans  Let's first explore the two major forms of education loans accessible to international students who want to study abroad through collateral-free education loans: 1. Collateral education loan  To get the required loan amount for a collateral education loan, the borrower must pledge collateral (such as a house, property, gold, insurance policies, land, fixed deposits, etc.) as security. Collateral loans can further be divided into three categories; Immovable property: This comprises buildings, flat surfaces, uncultivated land, and areas with well-defined borders. Liquid security: This covers LICs, government bonds, fixed deposits, etc. Third-party collateral: Only government and public banks are covered by this law. In this situation, if a candidate lacks the necessary assets listed above or is unable to provide the value to match the necessary loan amount, they may pledge the asset of a third party as collateral. In essence, the term "third party" refers to those who are not members of the candidate's close family. For instance, the candidate's uncle, aunt, pals, or the major co-applicant, etc. 2. Non-collateral education loan  The borrower of an education loan for international studies without collateral is not required to provide collateral as security, in contrast to an education loan with collateral. In the case of an education loan without collateral for abroad, borrowers are required to submit documentation and fulfill relevant requirements and eligibility criteria. Types of education loans based on lenders The following are the different types of education loans based on lenders:  1. Loans from Public-Sector Banks In India, public-sector banks or government banks give education loans to those who want to study abroad mostly based on collateral that is given as security. Government banks offer unsecured loans to students for INR 7.5 lakh. Applicants must offer collateral as security for sums more than this. Compared to commercial lenders, public sector banks provide lower interest rates. Section 80E offers tax advantages for government bank student loans. Major public-sector banks that provide loans for international schooling include: State Bank of India Bank of Baroda Punjab National Bank Union Bank of India 2. Loans from Private Banks Both secured and unsecured loans for study abroad are available from private Indian banks to students. The amount that may be approved depends on several variables, including the applicant's profile, the co-applicants financial situation, the nation, the course, etc. Private-sector banks provide better interest rates than NBFCs and foreign lenders, but they are higher than government banks. ROI generally begins around 11% annually. Private bank student loans are also eligible for Section 80E tax advantages. Compared to government banks, private banks require less time to approve an education loan. Several of the largest private sector banks providing loans for international schooling are: ICICI Bank Axis Bank 3. Loans from Non-Banking Financial Companies (NBFCs) NBFCs provide unsecured and secured student loans for international studies. The maximum loan amount that can be approved varies depending on several variables, including the applicant's profile and the financial status of any co-applicants. When compared to commercial banks and government banks, the interest rates on loans from NBFCs are on the higher side. The interest rate for NBFC education loans normally ranges from 11.5% to 16% per annum. NBFC education loans do not qualify for Section 80E tax advantages. Compared to government banks and commercial banks, NBFCs require less time to complete an education loan. Some of the largest NBFCs providing loans for international schooling include: HDFC Credila Avanse  InCred Auxilo How to choose the right abroad education loans for higher education?  Research and thorough comparison are necessary while selecting the best education loan for higher education. Before choosing an education loan, compare the interest rates and repayment options offered by several institutions. You may also get in touch with an expert. They can assist you in negotiating a lower interest rate and in organizing your repayment plan to help you save money. Before choosing to take out an education loan, ascertain how much money you require to fund your higher education. Our College Cost Calculator will help you determine how much additional money you'll need to live comfortably in your college city by providing you with information on the tuition and living costs there. In the modern, dynamic world, a good education is crucial because it gives students more self-confidence and gives them the tools they need to live their best lives. Therefore, although taking out a loan first seems scary, as long as the student is dedicated and makes the most of the opportunity, it will ultimately pay off. Consult an expert advisor to get the right plan TALK TO AN EXPERT

Where to invest the lump sum of money that parents have set aside for their child's education is one of the most frequent concerns. Every time a sizable quantity of money is acquired as a bonus, as the sale of real estate, as an inheritance, as a present from grandparents, etc., parents start looking for good investment opportunities. So in this blog, we have discussed how to invest a lump sum investment for your child's education. What is a lump sum investment? The term "lump amount" often refers to a significant sum of money. Financially speaking, investing a big quantity of money all at once as opposed to splitting it up into several payments. Investments made in lump sums include investing all of the investor's funds. For instance, if someone wants to invest all of the money in his possession in mutual funds or other types of investment vehicles, it is referred to be a lump sum investment. A lump sum payout is comparable to that, but it is not an investment but a payment made to others. As the name implies, no installments or partial payments are made. Best ways to invest a lump sum for your child’s education Following are the best ways to invest a lump sum amount for your child's education: 1. Dynamic equity mutual funds They are often referred to as balanced advantage funds or dynamic asset allocation funds. They make both loan and equity investments. The fund manager maintains a balanced asset allocation. In many cases, the exposure to securities ranges from 30% to 80% or even more. Most dynamic equity funds make sure that their equity and arbitrage positions remain over 65%. They are, therefore, qualified for the tax benefits offered to equity mutual funds. Dynamic equity mutual funds are less risky and volatile than stock mutual funds. However, they also provide lower returns than they do. 2. Equity-oriented hybrid mutual funds They are also referred to as aggressive hybrid mutual funds or balanced mutual funds. They devote between 65% and 80% of their resources to ventures involving equity. The remainder is made up of debt instruments. Due to their status as equity mutual funds, they are eligible for tax advantages. Balanced mutual funds have higher volatility and less security than dynamic equities funds. Over time, they offer greater returns than they do. 3. Equity multi-cap mutual funds They are also known as "diversified equity mutual funds." They devote a minimum of 65% of their assets to stock investments and instruments linked to equities. Equity investments are made in large-, mid-, and small-cap enterprises via multi-cap funds. Over time, multi-cap funds outperform hybrid mutual funds in terms of returns. But there is also increased risk and turbulence. 4. Debt mutual funds Fixed-income securities are an investment in debt mutual funds. The ones that give the most safety include liquid funds, ultra-short funds, low-duration funds, and short-duration funds. These funds make investments in highly rated short-term securities. They are safer than funds that take duration calls or invest in bonds with low credit ratings. 5. Public Provident Fund (PPF) PPF investments may be included in your portfolio's debt allocation. If you're seeking a safe investment with tax-free returns, this is a fantastic choice. PPF has a 15-year lock-in period, making it less liquid than a hybrid mutual fund. The rewards on PPF investments are less alluring than those on hybrid mutual funds. PPF, however, is far less risky and volatile than hybrid mutual funds. Additionally, it offers tax-free returns. CALCULATE LUMPSUM INVESTMENT Factors to consider before investing in lump sum investment The following are the top factors to consider before investing in lumpsum investment for your child's education:  1. Investing a large sum of money If you decide to invest in mutual funds in lump amounts, you may put a lot of money into them. As a result, the investment's value increases as the market grows. 2. Mutual funds are the best option for long-term investments Investing in mutual funds will be a better choice if you are able to save a lump sum of money for a longer length of time, such as five years or more; moreover, the rewards will be significant if you are able to preserve it for ten years. 3. Market predictions The best time to invest in mutual funds in a lump sum is when the market is at its lowest point but showing signs of improvement and future growth; however, lump-sum investments in mutual funds should be avoided if the market is performing well and maximizing as you might find yourself in a losing situation. Before investing in the best lump sum investment plan, investors should be aware that the funds they choose should be based on their specific goals and risk tolerance. For instance, simply capital gains, gains plus tax advantages, etc. TALK TO AN EXPERT

Inflation may have reduced to 4 - 2% levels from its historical high, but the expense of services such as education and healthcare has been rising. Thus, you must save enough to avoid facing any cash crunch when it comes to fulfilling the educational need of your children. In this blog, we discuss how you can use mutual funds to fulfill the needs of your child's education. A child's education is one of a family's most significant and crucial cash outflows. If you look at the tuition cost, a four-year engineering course costs around Rs 5 - 6 lakhs today. Assume your child is 7 - 8 years old and is likely to start his engineering in 10 years. The current cost may rise to Rs 10 - 12 lakhs, considering the 8 - 10% inflation.   Will the fees increase this much? The earlier generation had it very easy when the competition and costs were less. But today's competition has been on a rising spree, and everyone is considering sending their child to the best engineering college where the fees are increasing owing to rising demand. Also, lifestyle inflation has impacted the cost of education in India. As your standard of living improves, it directly influences your decision about where you want your children to study.   While we are considering only engineering courses here, a management course is lined up after engineering.   The two-year management course from an elite B-school is currently in the range of Rs 20 lakhs, which may increase to 2x by the time your child enrolls in the course. How can you overcome the problem of rising education costs?   The big question that is worrying parents is, how will you be able to fund your child's education?   Start early - One of the distinct ways to accumulate money for your child's education is to start soon. Individuals may need more time to amass a large sum of money, and thus they should benefit from the power of compounding. A corpus of 1 crore may seem very high, but it could be planned better. For example, a SIP of Rs 3000 for 20 years should help you accumulate a corpus of Rs 45 Lakhs.   It would help if you did not wait for the child to turn 10; instead, should start saving from the time the child is born. This gives you a much longer term to save and accumulate the money. For example, if you started the same SIP for ten years instead of 20 years, you would need to save Rs 16500 per month to achieve the same corpus as above.   Remember, a delayed start yields a small corpus and impacts your other financial objective. If you start investing for your child at 40-45, you will likely need more than the required amount. In such cases, parents often use their retirement corpus in India for their children's education, which is not a good move but only amplifies the risk.   Choose the correct option - Starting early isn't enough. You need to ensure that the money you save when you start early makes you money. Thus, you must ensure that the funds you select are suitable or the asset allocation is proper.   How to do asset allocation?  Very simple, merge your asset risk profile with the fund's risk profile. If you start saving early in life, when the child is born, you have a long-term horizon to save. For this, you may opt for equities and equity-based funds.   Play safe over the short-term - If the horizon is short, say less than five years. Ideally, it would be best if you opted for a balanced portfolio with a higher debt and debt-based funds allocation. While investing in debt funds is safe, you should not invest in random and conduct the right diligence before selecting.   Review portfolio timely - Once you have allocated a corpus to a different asset class and started investing, you must review your portfolio from time to time. Depending on the performance of the various instruments in your portfolio, you may need to re-balance your portfolio from time to time. Re-balancing ensures that your portfolio is a true reflection of your conviction. As an investor, you stay focused due to the performance of a few asset classes while ignoring the risk element. Also, reviewing the portfolio regularly gives you comfort in your financial goals. It helps you get comfortable if you are on track to meet your objective. If not, consider changing the asset allocation or the instruments within the asset class. INVEST IN MUTUAL FUND What do you do as you approach your goal?  Investing is never a static process; if it is capital, it is bound to be volatile. While you may start with a 100% equity portfolio at the time of your childbirth (when you have 20 odd years in hand) but when you are approaching closer to the goal to safeguard the accumulated corpus by way of capital gain, you need to start moving your corpus to a comparatively safer asset class. For example, when you are just five years away from the goal, you must start a Systematic Transfer Plan (STP) and take out the money systematically from your equity funds to a safer debt fund. This way, you will be able to safeguard your capital by the time you reach your time (say, time to pay college fees).   Remember, you must act cautiously when your goals are crucial and must be completed on time. This is because market volatility can't be predicted, and you may lose a considerable chunk if not planned well.   For example, assume you needed money in December 2016 for your child's education and have invested 100% in equities since 2006. You would have garnered a sizeable sum in 10 years, but you should have safeguarded your capital in 2016, thinking you would gain more.   But in November 2016, demonetization happened, and the market corrected considerably. At this time, it would be better to start early and in a disciplined manner. If you had begun shifting money from equity to debt in January 2016, you would have been left with money that would have helped you meet your expenses.  To conclude, mutual funds are a great tool to invest and plan for your financial goals. Given that goals are different in nature and importance, you must plan for each purpose separately instead of having one plan for all. Remember, in mutual funds, one size may not fit all.   Thus, your plans are personalized and customized to your profile and not replicated by your colleagues. To know more about profiling yourself or constructing your portfolio with the right asset mix, feel free to reach us at hello@edufund.in. Consult an expert advisor to get the right plan TALK TO AN EXPERT

One of the safest places to study in New Zealand. The ideal blend of culture, environment, and opportunity for a student is made up of internationally renowned institutions and an engaged educational system. New Zealand, an island nation and one of the last inhabited countries provides the ideal fusion of an untainted environment, adventure, and calm. In this blog, we'll talk about the best reasons to study in New Zealand. Reasons to study in NewZealand 1. Highly regarded education system The primary and most important reasons why New Zealand is such an excellent destination to study at a university are the teaching qualities and general education system there. It's a nation that prioritizes both knowledge-based and practical learning to make sure that its kids are completely equipped for the future. New Zealand institutions frequently receive good rankings, in part because of this unique teaching method that guarantees practical experience while you're a student. According to the QS World University Rankings 2021, all eight of New Zealand's publicly funded universities are ranked within the top 3% in the world. 2. Lots of programs to choose from There are many excellent programmes to pick from since New Zealand is a very popular place to study abroad. New Zealand provides a wide range of specialist programmes in addition to exchange programmes with American institutions, many of which are affiliated with a specific university. Many of these programmes are well-regarded and all-inclusive, which takes a lot of the stress out of the study abroad process and gives you more time to enjoy your course of study. 3. Lots of job opportunities For students seeking employment, both throughout their studies and after graduation, New Zealand is a nation of opportunities. Whatever you decide to study, there will be chances for temporary jobs and long-term employment. In truth, Student Job Search, a free nonprofit organisation, has years of expertise assisting New Zealand students in finding both temporary and long-term employment. When you are in the nation, you can utilise their services. 4. Affordable cost of living & studying New Zealand offers a range of student housing alternatives, food that is conveniently accessible and reasonably priced, and a cheaper overall cost of living than Australia. In addition to being reasonably priced, public transportation provides simple access to rivers, lakes, woods, and beaches for recreational options.  In contrast, the price of a New Zealand education ranges from NZD 6,500 (INR 3.43 lakhs) to NZD 40,000 (INR 21.12 lakhs), depending on the sort of programme the student is enrolled in. Doctoral programmes are the most affordable to attend in New Zealand, followed by post-graduate and undergraduate programmes.  Graduate degrees as well as diploma and certificate programmes may be the most expensive courses in New Zealand for overseas students. Students who are trying to locate financing sources for their studies in New Zealand will also have no trouble doing so. 5. Quality of life The wonderful multicultural environment that New Zealand provides melds perfectly with the energetic outdoor lifestyle that is so prevalent there. With its plethora of different natural beauties, such as rolling green hills, golden sand beaches, snow-capped mountains, volcanic volcanoes, and lush rainforests, New Zealand inspires wanderlust. Every student who lives here has the opportunity to develop while experiencing the region's rich cultural diversity and breathtaking natural beauty. 6. Safe and peaceful country  New Zealand is placed second in the world in the Global Peace Index 2018*, which evaluates the political stability and social tolerance of the Kiwi democracy. You will have the same rights as your Kiwi peers as an overseas student. 7. A fantastic culture The native Mori people of New Zealand, who speak their language and have their own mythology, have a rich cultural history that blends with Western norms inspired by British culture. Today, New Zealand's arts, crafts, and food regularly feature elements of the Mori culture. Sport is a serious endeavour in New Zealand, which is another cultural element. Despite how well-liked cricket is, rugby is where they shine. Another place where you could see the Mori traditions is during the well-known Haka, a ceremonial dance done by the national rugby team to intimidate opponents. Despite having a population of less than 5 million, New Zealand's national side, known as "The All Blacks," is the pride of the country since it is acknowledged as the finest rugby nation in the world. New Zealand is well known for its breathtaking natural scenery and the thrilling activities it provides. The best part is that all of this is conveniently accessible from all eight of the nation's colleges. Even though you will be a student there, you will have a tonne of possibilities if you ever want to spend weekends and vacations travelling the nation. Excellent opportunities for adventure sports, trekking, etc. are available in New Zealand. Consult an expert advisor to get the right plan TALK TO AN EXPERT

Known for its skyscrapers, high standard of living and reputable higher education institutions, Dubai makes for a popular study destination. A very global metropolis, it draws students from all over the world. In this blog, we have discussed the top reasons to study in Dubai. Reasons to study in Dubai Who hasn't heard about Dubai? Either via the news or the internet, you must be able to recall the name of Dubai. Due to its impending increase in trade, oil, and business, Dubai, one of the Emirates in the UAE area, is renowned as the "city of gold."  However, Dubai is home to many strange wonders, from camels to sports cars, from culture to the allure of its ruler, to vending machines to the obscenely wealthy locals.  It is comparable to a stand-alone metropolis that is ranked among the most advanced and sophisticated cities in the world, with top-notch amenities, infrastructure, and a commanding position in the global business community. 1. High standards for education  The United Arab Emirates consistently works to raise the caliber and effectiveness of its institutions of higher learning, and its universities are among the best in the world. Due to its high rankings in the QS Best Student Cities index's indices of attractiveness and student opinion, Dubai is a well-liked study location among students. Canadian University Dubai, one of Dubai's most esteemed institutions, is ranked 25th in the QS Arab Region University Rankings and among the top four universities in the UAE in the QS World University Rankings 2022. Also according to the most current QS World University Rankings, the university enrolls students from more than 120 different countries and is ranked sixth globally for its proportion of foreign students and seventh internationally for its proportion of international faculty members. 2. Employment opportunities You are already aware of Dubai's robust economy at this point. After finishing the course, you won't have trouble finding employment in such a market. As soon as you enter the city, you'll see that it is home to influential corporations with a global reach like the BBC, Sky News, AP, HP, Oracle, Microsoft, etc. As a result, after studying in Dubai, there are countless work prospects. 3. Many types of program options  Study abroad in the UAE as an exchange student (through a university partnership or ISEP), through a third-party provider (API, CIEE, IFSA-Butler), or as a visiting student who enrolls directly. You may enroll for a year or a semester, and you might even incorporate an internship before going back home. 4. Dynamic culture The presence of more than 100 different nations in one location, which results in individuals with various viewpoints, styles, philosophies, and dialects, cannot be denied. According to surveys, just 20% of the people in the territory's national culture made up Emiratis, with the remaining 80% being immigrants from all over the world. You could hear a variety of languages on the streets, including English, Arabic, Farsi, Urdu, Hindi, and even Tagalog. Students who study in Dubai return home with a wealth of priceless memories. 5. One of the fastest-growing economies What is the Brookings Global Metro Monitor, exactly? The simplest explanation is that it controls the largest metropolitan economies. Are you informed? Out of more than 300 metropolises, Dubai's economy is in the top five in the world for economic growth. The best feature is that you may study in Dubai, or perhaps I should say study in a country that is rapidly developing economically and socially. The acceleration of this economy's growth is due to the increase in trade and tourism, both of which are encouraged in Dubai. 6. Safety International students come to Dubai to improve their education. Students are treated well by the locals, and women are respected. In Dubai, people of various nationalities may comfortably follow their religions without facing any external threat. 7. Entertainment hub Due to its popularity as a tourist destination, Dubai draws a large number of celebrities, influencers, sports stars, and other inspirational figures from all over the world. It's safe to say that you won't have to deal with any dull moments here. For their festivities, which are normally open to everyone, the affluent emirs of the city also regularly hire the best entertainers. If you don't want to participate in these activities while you are a student in Dubai, you may still visit the water parks, beaches, shopping malls, multiplexes, and beautiful gardens. Studying in Dubai is fantastic. It provides learning opportunities that are quite difficult to get by elsewhere. You can study here if you want to learn more about this lovely city or if you just want to start exploring a new location to call home. It is simple to see why Dubai has been named the finest city in the world for ex-pats. The cost of living is low, there are many employment options, and Dubai would gladly provide you with a new house or apartment if you're seeking one. Consult an expert advisor to get the right plan TALK TO AN EXPERT

Inflation has been a buzzword globally since Covid19 pandemic was over. Almost every country has been witnessing high inflation, and some are seeing skyrocketing inflation in a few decades.   The rise in the price of cars, electronics, food, and fuel only reminds us how household goods and consumption items are becoming costlier. While discussing the fuel price has been all the rage, there are some items where inflation has been hovering around for quite some time and that too consistently.   This is nothing but Education. Unfortunately, this area needs to be spoken about more, as people are aloof about how it is not only making a hole in your pocket but also denting your aspiration.  Education inflation is the silent killer and is for real. But why is it so critical?  Because it can demolish the dreams of a brighter future when taken lightly. Here's an example that proves this powerful statement - Despite the pandemic, IITs increased their fees in 2021-22 from INR 90K to INR 200K. This is over 100%.   So, a financially unprepared parent will face the heat of the situation with their child for admission!   Why is education inflation scary?  Below is the list of different segments and inflation over the last ten years. Source: MOSPI, EduFund Research  The data highlights the reality that the rise in education costs has surpassed all other necessities and consumables in the last decade. This rise is partial because the government is looking to reduce funding grants. Additionally, there has been growth in living standards and services offered by the Educational Institutes and thus the premium.   In addition to headline educational expenses, many hidden costs hurt a parent. For instance, exam registration fees saw an approximate 6.7% hike last year. Additionally, transportation and student accommodation costs contribute significantly to the overall increase in education costs. And finally, food costs are another major contributor that needs to be highlighted while planning for higher Education.   Increasing tuition fees in India   College tuition fees in India have seen an enormous rise over the years. Here is some data on total course fees for specific courses that help paint a clearer picture of how fast the tuition fees have risen over the years.  Source: EduFund Research  The figures are staggering, and one of the main reasons students drop out of college midway. According to recent data, approximately 39% of students aged 20-24 drop out of college to help their family increase their household income. Therefore, it is becoming increasingly apparent that there is a need for proper education planning in India, as many parents need to be aware of the rising tuition fee and how to tackle it.   Education costs abroad on the rise  If you want to send your child abroad, the cost will be higher, and you must be prepared to shell out much more to pay.  But why?  Because, in addition to inflation or price hike, currency depreciation also hurts you.  So, even if the college abroad doesn't increase the fees, you will pay higher Indian Rupee terms because of the depreciating Rupee. And, if the colleges increase fees (which they have done every year), the cost increases further in Indian Rupees. Cost of Education in Indian Rupee when fees don't increase      Jan-22 Jan-23 Change (%) Fees USD 79,540 79,540 0% USD | INR Rs 74.51 82.74 11% Fees Rs Lakhs 59.3 65.8 11% Note: The Fees are considered for Princeton University (Undergraduate Admission). The Fees is for 2022-23 and include - Tuition: $57,410, Housing: $10,960, Food: $7,670, and Estimated Miscellaneous Expenses: $3,500.Source: https://admission.princeton.edu/   Fees in the United States increased to nearly 5x from what it was in 1985. The scenario is similar for destinations like the UK, Canada, and Australia.   Despite the pandemic, some universities abroad announced increasing the tuition fee for this academic year (2022-2023). The University of Pennsylvania announced a 2.9% increase in tuition fees, while Arizona State University announced that tuition fees would increase by 5% for international students. The international students at all three campuses of the University of Illinois are likely to see a 1.5 to 2.5% hike in their tuition fees.  How are you planning for your life's most considerable expense before retirement?  Unfortunately, the depth of the issue only hits you once you are close to paying for your child's college, which is one or two years before. And suddenly, you are left with only two choices- compromising on the quality of Education or opting for loans with a high-interest rate which eventually increases your overall cost of Education (after including the interest component on loan). Both decisions will have a significant impact on your child's future.   But you can avoid it. How?  You can avoid financial stress by saving early for your child's college. The sooner you begin investing in your child's education expenses, the more time you give your savings to grow. Here is an example of how you could create an education fund for your child by investing early:   Unit 5 yrs. 10 yrs. 15 yrs. SIP Rs/month 10,000 10,000 10,000 Annual Returns % Per Annum 15 15 15 Total Outflow Rs 6,00,000 12,00,000 18,00,000 Accumulated Amount Rs 8,96,817 27,86,573 67,68,631 Note: The returns here are hypothetical and do not guarantee performance. Source: EduFund Research Find the right investment tool that suits your educational goal and start investing to achieve the goal. If you are overwhelmed with the available options, seek a financial expert to help you with your education investments.  

The parents’ guide to education loans helps to make sense of the loan process and understand how they can mold the terms and conditions to suit their specific needs and requirements.  If you ask an Indian parent about his priority then the obvious answer will be providing a good education for his children. With education inflation at 11% - 12% and expenses escalating consistently, it is no longer a reality without the help of education loans.   Even after creating a sizable education corpus for their children, parents can fall short of the money. Taking out an education loan can bridge the shortfall, provide quality education, and offer tax benefits.  What is an Education loan? An education loan is a loan taken out for completing the studies. It can be either for studying in the home country or abroad at a foreign university.  The education loan includes tuition fees, caution deposit, travel expenses, cost of books, uniform if applicable, laptop if required, hostel fees, food expenses, and in some cases traveling and other miscellaneous expenses. https://www.youtube.com/watch?v=4gTQkdePOWM Guidelines for Parents Taking Education Loans Parents often worry about the burden of repaying the education loan at the beginning of their children’s careers but in reality, it is a good thing. Repaying the loan amount on time will create good credit scores and instill financial discipline in the students. Let us go through some of the important things that parents taking education loans need to look for beforehand.  1. Loan interest How much interest you have to pay on the education loan matters a lot and this is the first thing parents should find out. Private lenders, banks, and NBFCs are the perfect choices for an education loan hence parents should shortlist three to five lenders with the minimum loan interest. If the student has exceptional grades or has been admitted to a STEM course in a reputed and ranking university then parents can talk to the financial institution of their choice because banks often reduce 1% interest in such cases.  Choose from the multiple banks and NBFC partners at the Edufund App for higher loan amounts and lower interest rates.  2. Time or duration of the loan The lenders have extended the duration period from 7 years to 15 years. This means a minimum EMI which is easy to repay even if the initial salary of the applicant is low. Parents can choose the longest possible loan repayment duration as there is no penalty.  3. Collateral for the loan Defaults are very common in education loans hence financial institutions or lenders insist on the collateral if the loan amount exceeds INR 7.5 lakhs. The collateral can be fixed deposits or houses etc. Collateral often reduces interest costs. Take an education loan through the Edufund App as the hassle-free loan process does not require collateral for an amount up to INR 75 lakhs.  4. Co-applicant  Financial institutions insist on a co-applicant or guarantor so that the risk is divided in case of late payment or default. Parents, guardians, or elder siblings working in a reputed company should serve as guarantors or co-applicant as it will help in reducing the interest cost.  5. Margin money The margin money often depends upon the loan amount and the place where the university is located. It is better to know beforehand the contribution of the lender and how much margin money the parents will have to pay. Banks often charge 5% for loan amounts above INR 4 lakhs for studying in India and 15% for overseas studies.  Parents need not pay the margin money if they take out an education loan from the Edufund App.   6. Moratorium period The moratorium period lies between 6 – 12 months after the course study and it is important for parents to sort out beforehand that if the interest is paid in this period then the EMI will be based only on the principal amount and if not then it will be added up and EMI will be loan plus additional interest. 7. Documentation The parent’s guide to education loans emphasizes proper documentation. It is necessary to submit all the related papers and check the details with an expert to avoid any discrepancies.  8. Start the process as early as possible The loan application process takes time whereas the universities will give you little time to deposit the fees. Parents should start the process as early as possible to avoid any mishaps later on.  Conclusion Quality education ensures breaking the shackles of poverty with the help of a good job but it comes at a cost. The parent's guide to education loans refers to the guidelines that encourage parents to take the necessary steps and apply for the loan.  Parents can apply for education loans through the Edufund App. Use the education calculator on the site to know about the required loan amount and talk to the counselors to compare loan offers and get a clear picture of why taking the loan makes sense. The best thing is that parents will not have to pay any fees for the consultation. Consult an expert advisor to get the right plan TALK TO AN EXPERT

Do you consider saving for your child's education? Do you think you need to save more for your child's future? If ‘yes’ is your answer to both questions, you have come to the right place! This article will explain the reasons why every new parent should have an EduFund. Let us check out the top reasons why you need to start saving for your child's education. https://www.youtube.com/watch?v=u0MRtCeA2RU 1. No need to take money out of your retirement fund Maintaining separate funds for your child's education and savings is wise. One of the primary reasons is that you will not get loans to take care of your expenses after retirement. You may have to withdraw money from your retirement fund if you do not maintain separate funds. Your children are likely to get a loan to fund their education expenses. So, you must ensure that you and your partner do not depend on anyone after retirement. This is where an EduFund comes to the rescue. Find more about it below! Start Investing in Mutual Funds 2. Education costs will sharply rise The cost of education in India is increasing multifold. The rate of increment is higher than the inflation rate. As per reports, between 2008 and 2014, annual private expenditure for primary-level to postgraduate education increased by 175%. Technical and professional education increased by 96%. It is one of the reasons why new parents should have an EduFund. The educational expenses include transportation, books, course fees, coaching, and other costs. Parents spend 50% of their income on their children's education today. Compared to India's expensive and highly competitive educational landscape, abroad studies provide options to students. Considering only 10% of the inflation rate will cost you nearly double the amount after 20 years. No matter the destination you choose for your children's college education, the amount you will spend on the course fee will be pretty high. So, in considering these cases, an EduFund can come to your rescue. Apply for Education Loans 3. The competition will likely increase The competition for admission into the leading Indian or foreign colleges has always remained high. We all understand the importance of better education, so getting admission to the best colleges can be a little complicated in the future. With the increasing enrollment in higher education and the ever-rising population, the possibility of getting admission to good colleges has been declining. The marks allowed in 2000 for admission to a good college have increased significantly. If the number was 80% earlier, it has increased to 95% today. Imagine what is it going to be like in the future! Many people are competing for the same seats today. It is one of the primary reasons behind the trouble of getting admission to a good college in India or abroad. It calls for more tuition fees, hence adding up to more savings. What can be better than an EduFund in this case? This is why new parents should have an EduFund. Start Investing in US Market 4. Allow your child to be debt-free Educational loans are readily available from financial institutions and banks these days. They are attractive to various students who cannot afford higher education, particularly abroad. But, there is a disadvantage when it comes to education loans. They come at high interest rates. There are also collaterals attached to them. In such a situation, EduFund can help. Your children will not want to begin their career having a debt hovering over their choice of job. Job security is a far-fetched concept with the developing uncertainty in the job market due to the present global economic slowdown. No jobs that assure static security and income for paying off the education loan are available. So, what to do in such a situation? Choose EduFund! The first calculator for college costs in India can help you understand the amount you would need to pay for your child's college education. https://www.youtube.com/watch?v=30q9fjLitHM Getting admission into a college of your child's choice based on merit alone or with a scholarship will be more challenging than it was. Parents need to be ready to handle the competition. Today, new parents are already struggling to get their children admitted to kindergarten classes. The future could be much worse! Parents need to start planning right after childbirth. It calls for saving for children's education with the help of EduFund. When you begin college, you have the freedom of choice. You no longer need to bother about tuition fees. Having an EduFund for your child's education remains imperative to ensure a promising career for your children. Even if there is a change of career choice in your child's mind with time, you can be ready and adapt with the funds when needed. And, for that, you need EduFund. It is one of the best ways to save for your children's college expenses FAQs Why should new parents consider having an EduFund? An EduFund ensures that you don't have to dip into your retirement savings to fund your child's education, providing financial security for your future. Why is an EduFund essential for dealing with increasing competition for college admissions? As competition intensifies for top colleges, tuition fees and other expenses rise. An EduFund helps you financially support your child's education without compromising quality. How does an EduFund help with rising education costs? Education expenses in India are increasing faster than inflation. An EduFund helps you prepare for the significant costs associated with your child's education. How can an EduFund prevent your child from starting their career in debt? EduFund allows your child to avoid high-interest education loans, ensuring they begin their career debt-free, even in an uncertain job market. Why is early planning with EduFund crucial for securing your child's education? Early planning ensures you are well-prepared for the challenges of future education costs, offering your child the freedom to choose their career path without financial constraints. TALK TO AN EXPERT

An education loan is no longer a choice but a necessity for most students aspiring to study abroad. Although there are several financing options like banks, private lenders, and NBFCs open, it is not an easy feat to get the loan sanctioned. There are numerous criteria to meet that confuse the applicant.  In this blog, we will go through some of the important tips for maximizing your chances of getting approved for an abroad education loan so that the loan journey remains smooth, quick, and easy. 10 tips to consider before applying for an abroad education loans 1. Study courses and university  Financial institutions put a great deal of emphasis on the course a student wants to pursue and the university they have been admitted to. The most important tip for maximizing your chances of getting approved for an abroad education loan is that the study course should be accredited otherwise, the loan application can be rejected.  STEM courses like mathematics, engineering, and science have higher earning potential compared to arts, humanities, or commerce; hence the chances of a loan being approved are high. If you are considering the other courses, make sure you balance them out with a good and reputed university. It should be a top-notch place to study with a good reputation or ranking.   2. Academic history of the applicant Academic history matters as it will give a fair idea of the student’s capabilities, whether they are serious about their studies, and do they have the intelligence to get exceptional marks.  A student with consistently good grades has a better chance of loan approval than an average student or an applicant with an academic gap or backlog. Applicants seeking an overseas education should be serious about their studies from the word go, as it will improve their chances of loan approval.  3. Applicant and co-applicants age Financial institutions generally do not have an age limit for a secured loan, but for unsecured loans, the maximum age limit is 28 years. The co-applicant should not be close to the retirement age as lenders are hesitant in sanctioning them the loan. Applicants should be aware of the age criteria and apply for the loan accordingly.   4. Genuine and complete documents Fake or incomplete documents will result in the cancellation of the loan application; hence never try it. Read the guidelines carefully and submit each document as per the requirement. These include the loan application form, academic records and mark sheet, entrance test scores, address and identity proof like Aadhaar and PAN, admission letter from the university, and statement of costs.  5. Good CIBIL score CIBIL scores of the applicant and the co-applicant matter as a good score suggests that the previous loans have been paid on time and the chances of getting back the loaned money are high. A bad score means a delay in repayment or a cheque bounce. A good score will increase the chance of securing a loan; hence applicants should be conscious of maintaining a good CIBIL score from the beginning. 6. Too many loan inquiries are harmful Students should not apply to numerous financial institutions as they, in turn, inquire with CIBIL Agency which mentions the number of inquiries in the credit report. This has an impact on the CIBIL score; thus, the applicants must research beforehand and apply for the loan at the appropriate place and at the right time after going through all the pros and cons. 7. Must fulfill the income criteria Applicants must find out the minimum income required by the lender and then fill out the loan application; otherwise, it will be rejected.  8. The repaying capacity Lenders will look at the repaying capacity of the applicant and their total income. In case the loan is passed and is mid-way, and the co-applicant has lost or left their job, the loan can still get rejected. 9. Types of collateral  Financial institutions have a list that defines which properties are considered collateral and which are not; hence applicants must go through the list before naming that property as collateral.  10. Meet the set policy Every lender has a specific set of rules, and the applicant must go through them in detail and then fill out the form and submit the required documents.  Conclusion Lots of students apply for an education loan every year, but only a handful of them manage to get it sanctioned. In most cases, the applicants are not even aware of the true reason for the loan rejection. Knowing about the above-mentioned tips can maximize your chances of getting approved for an abroad education loan.  Reach out to the counselors or experts on the Edufund app for an abroad education loan, and they will guide you through the whole process in quick and easy steps. Consult an expert advisor to get the right plan TALK TO AN EXPERT