Tag Archives: studying abroad

Have you ever wondered how much it might cost to send your child to college in the future?  Education costs in India are rising steadily, with prestigious institutions like IITs witnessing significant fee hikes. Planning for these expenses early is crucial to ensure your child has every opportunity to succeed.  Here's where a college fund for baby comes in.  There are several investment options to consider for your child's college fund. Mutual funds are a great place to start, especially for those new to investing.  Mutual funds pool money from many investors and invest it in a variety of stocks and bonds. This diversification helps spread risk and offers the potential for higher returns compared to traditional savings accounts.  You can opt for Lumpsum (one time investment option) or Systematic Investment Plans (SIPs) which allow you to invest a fixed amount regularly, making it a convenient and affordable way to grow your college fund for baby over the long term.  In this article, let’s look at the rising college costs, sharp rise in education inflation and why every Indian parents needs a college fund for their baby to keep up with these ever-inflating education costs.  Understanding College Costs College expenses for Indian parents can vary significantly depending on the type of institution, location, and program chosen. However, one thing remains constant – the cost is on the rise. The average cost of studying engineering in India is Rs 2,00,000-3,00,000 annually. Some courses like MBBS (due to limited seats and high demand) costs have crossed ₹1 crore. The situation abroad is even more peculiar. Indian parents are expected to pay no less than ₹30 to 40 lakhs for tuition fees alone.    Current Landscape:  Average Tuition: Currently, the average annual tuition fee for undergraduate programs in India can range from ₹50,000 to ₹5,00,000 for government and private colleges respectively. Prestigious institutions like IITs can reach even higher, with fees exceeding ₹20 lakhs annually. If you are planning to send your child abroad then costs can be higher with tuition fees starting at ₹10 lakhs to ₹50 lakhs.   Room and Board: Adding to this, room and board expenses can add another ₹2-5 lakhs annually, depending on factors like college facilities, chosen accommodation type (hostel vs. private housing), and city living costs.  Future Projections:  Based on historical trends, we can expect these costs to continue rising. For example, a recent report highlights how a popular journalism course that cost ₹42,000 per semester four years ago can now cost up to ₹72,000. This translates to a nearly 70% increase in just a few years! Following this trend, a conservative estimate suggests an annual cost increase of 5-7% over the next decade.  The costs of every course are determined by various factors – its university, country, technical aptitude, its demand tenure and inflation. Every year, education costs are adjusted keeping all these factors in mind. To ensure you are saving correctly for the expected increase in the costs of college, we have the College Cost Calculator.   To use the College Cost Calculator, all you need to do is provide basic information about your child’s dream college and course and find out how much it will cost in the future.   Factors Driving the Rise:  Several factors contribute to the rising costs of college education in India:  Increased Demand: The growing number of students aspiring for higher education puts pressure on available resources, leading institutions to raise fees to maintain quality standards.  Education Inflation: General inflation in the economy also impacts on college expenses, with institutions needing to adjust fees to cover rising operational costs.  Improved Facilities and Infrastructure: Many colleges are investing in upgrading infrastructure, improving faculty, and offering specialized programs, all of which add to the overall cost structure.  Understanding these factors and starting to plan early with a college fund for your child can help bridge the gap between rising costs and your child's educational aspirations.  Saving & investment options for a college fund for babies If you want to build a powerful college fund for your baby, then here are some investments that can help you make it stronger!  529 College Savings Plans  529 plans are a powerful tool for US residents to save for a child’s future education.  529 plans are tax-advantaged investment accounts. They are designed specifically to encourage saving for education expenses.     The beauty of 529 Plans is that contributions to a 529 plan grow tax-free federally.  This means all earnings on your investments compound without being reduced by taxes, maximizing your potential returns. Similarly, withdrawals from a 529 plan are completely tax-free at the federal level if the earnings are used for qualified education expenses.  Some states also offer additional state tax benefits.     Contributions to a 529 plan can be made by anyone, not just the account owner. This allows grandparents, relatives, or friends to contribute towards a child’s education. This plan is not available for Indian citizens and only open for American citizens.    Real Estate   Real estate is a great way to invest for your long-term goals. Real estate can offer significant capital appreciation over the long term, especially in growing locations. Additionally, rental income can provide a steady income stream. You can use your properties are collateral for taking different kinds of loans which makes it a good asset for rainy times.    However, investing in real estate is not easy. Real estate requires a significant upfront investment, which might not be feasible for everyone. Real estate is a relatively illiquid asset. Selling property can take time and involve additional costs.  Mutual Funds  As mentioned earlier, mutual funds are a game-changer. They are the best investment asset in India to save for your child’s education needs. The ease of investing in mutual funds, transparency, affordability as well as the tax benefits may make them an amazing investment tool for your long-term goals such as your child’s college savings.    When saving for your child’s education through mutual funds, you need to consider the investment horizon (timeframe until the funds are needed) and your risk tolerance.  Types of Mutual Funds for Education Savings  Equity Mutual Funds: Invest primarily in company stocks. They offer the potential for higher long-term returns but come with higher risk due to market fluctuations. Suitable for: Long-term investment horizons (10+ years). Investors who are comfortable with market volatility. Within Equity Mutual Funds, you have a special fund category called ELSS (Equity Linked Saving Scheme). They tax deductions under Section 80C of the Income Tax Act, 1961 and have a lock-in period of 3 years.   Debt Mutual Funds: Invest in fixed-income securities like bonds and government securities. They offer lower risk and predictable returns, but growth potential is limited. Suitable for: Shorter investment horizons (5-10 years). Risk-averse investors seeking capital preservation.   Balanced Funds: A mix of equity and debt funds, offering a balance between risk and return. They can be a good middle ground, but returns may be lower than pure equity funds. Suitable for: Moderate investment horizons (7-12 years). Investors seeking a balance between growth and stability.   Strategies for Building a College Fund Here are some tips and strategies on building a college fund:  Start early: The sooner you start investing for your child’s college, the bigger your child’s college fund. Time is the best aggregator, compounder and risk-minimizer. Use it powerfully and ensure that you start investing for your child’s college plans as soon as they are born.  Calculate the costs: You would never study for an exam without figuring out the syllabus, would you? Then why invest without figuring out the future costs and how much you need to invest? Use our College Cost Calculator to find out how much you are supposed to save and then plan your investment amount, tenure and investments accurately.   Choose the right investment plans: Education inflation is 10-11%. Thus, your investments need to be on par with the costs. You can go for investments like mutual funds that have the potential to keep pace with the costs of education.   Annually revise your plan: Education financial planning for your child is not a single-day task. It requires you to revisit the plan to avoid losing sight of your objective. Try to increase your investment amounts annually, adjust your funds, speak to a financial advisor who can help you get closer to your goal faster and efficiently.   Automate your savings: Set up automatic SIPs for mutual funds so that you don’t have to worry about forgetting a payment or tranfer. This will help you stay on track with your savings goals.   Explore additional funding sources: Scholarships and grants can significantly reduce college costs. Encourage your child (or yourself if you're going back to school) to research and apply for scholarships that fit their academic achievements, interests, and background.   Utilize calculators for systematic planning: If you are planning to invest in mutual funds for your child’s college fund then try our calculators like the SIP calculator and lumpsum calculator to easily assess how much you can save in your set tenure. Using the calculators will help you see in real time the result of your potential investments.   Managing and Withdrawing from the College Fund The goal of starting a college fund is to use it in the future and withdraw the money you have saved for your child’s future. If you are investing in mutual funds, then withdrawing money is easy and convenient. There is no concept of lock-in period for most mutual funds; only tax saving mutual funds have a lock-in period of 3 years. To withdraw money, you'll need to initiate a redemption request, which involves telling the mutual fund company (AMC) or transfer agent (RTA) that you want to sell some or all your shares (units) in the fund.   Information Needed: You'll need to provide some basic information, including your folio number, PAN details, the number of units you want to redeem (or the amount), and your bank account information for receiving the proceeds.  Redemption Timeframe: The timeframe for receiving your redeemed funds can vary depending on the fund and the processing time. It typically takes 3 to 5 business days for the money to be deposited into your bank account.  Exit Loads: Some mutual funds, especially closed-end funds, may charge an exit load if you redeem your shares within a certain period of time after purchase. Be sure to check the fund's prospectus for any applicable exit loads before redeeming.  Tax Implications: Depending on the type of mutual fund and how long you've held the shares, there may be tax implications associated with your withdrawal. Capital gains taxes may apply, so be sure to consult with a tax advisor if you have any questions.  Building a college fund for your baby is the best way to secure their future. The rising costs of education are here to stay and our best bet to ensuring our children get the best opportunities is to start investing early on via mutual funds so they can live a debt-free life in the future.  

Deciding to pursue a master’s degree is a significant step towards advancing your career and enhancing your expertise.   This decision involves considering various factors, including the quality of education, potential career opportunities, and personal growth. One of the critical choices you'll face is whether to study in India or abroad.   Both options offer unique advantages and challenges. Studying in India may provide familiarity and cost-effectiveness, while studying abroad can offer exposure to global networks and diverse perspectives.   Evaluating these options is crucial to making an informed decision that aligns with your career goals and personal circumstances. Factors such as tuition costs, living expenses, cultural experiences, and future job prospects must be weighed carefully to ensure the best educational investment.   This blog will explore these aspects in detail, providing data and insights to help you choose the right path for your master’s degree.  Overview of Master's Programs in India Master’s programs in India typically span two years, divided into four semesters. These programs are designed to provide in-depth knowledge and specialized skills in a specific field. The structure includes a mix of coursework, research projects, and internships, with a strong emphasis on theoretical understanding and practical application.   In fields like engineering and technology, the programs might include laboratory work and industry collaboration.   Popular Fields of Study and Top Universities India offers a diverse range of master’s programs across various disciplines. Some of the most popular fields include:  Engineering and Technology: Indian Institutes of Technology (IITs) and National Institutes of Technology (NITs) are top choices.  Management: Indian Institutes of Management (IIMs) and Xavier School of Management (XLRI) are renowned for MBA programs.  Science: Indian Institute of Science (IISc) and Tata Institute of Fundamental Research (TIFR) lead in research-oriented science programs.  Humanities and Social Sciences: Jawaharlal Nehru University (JNU) and University of Delhi are prominent institutions.  Medicine: All India Institute of Medical Sciences (AIIMS) and Christian Medical College (CMC) are top medical schools.   These institutions are known for their rigorous academic standards, esteemed faculty, and robust research facilities. For instance, IITs are globally recognized for their engineering programs, with IIT Bombay and IIT Delhi ranking among the top engineering schools in the world.  Admission Process and Entrance Exams  The admission process for master’s programs in India is competitive and often requires clearing entrance exams. Key entrance exams include:   GATE (Graduate Aptitude Test in Engineering): For admission to M.Tech and Ph.D. programs in engineering and technology across IITs, NITs, and other top engineering institutes.  CAT (Common Admission Test): For MBA programs at IIMs and other premier management institutes.  JEE Advanced (Joint Entrance Examination Advanced): While primarily for undergraduate admissions, some integrated master’s programs consider JEE Advanced scores.  NEET-PG (National Eligibility cum Entrance Test for Post-Graduation): For postgraduate medical courses.   For example, GATE scores are crucial for securing a spot in IITs' M. Tech programs, with a typical acceptance rate of around 15%. CAT scores, on the other hand, are a gateway to IIMs, with acceptance rates as low as 1-2% for the most prestigious campuses.  In addition to entrance exams, some universities also consider academic performance, work experience, and personal interviews as part of the selection process. This comprehensive approach ensures that candidates are not only academically proficient but also possess the potential for leadership and innovation in their respective fields.  By understanding the structure, popular fields, top universities, and the admission process, prospective students can better navigate their options for pursuing a master's degree in India. This foundational knowledge is essential for making an informed decision about higher education.   Overview of Master's Programs Abroad Master’s programs abroad vary in structure and duration based on the country and the institution. Generally, these programs are designed to provide advanced knowledge and research opportunities in specific fields.  USA: Typically, master’s programs are 1-2 years long. They often include coursework, research projects, and internships. Renowned institutions include MIT, Stanford, and Harvard.  UK: Programs usually last 1 year. They are intensive and focus on both coursework and research. Leading universities include the University of Oxford, University of Cambridge, and Imperial College London.  Canada: Most master’s programs span 1-2 years, incorporating coursework and research. Notable universities are the University of Toronto, McGill University, and University of British Columbia.  Australia: Programs are generally 1-2 years long, with a strong emphasis on practical experience and research. Top universities include the University of Melbourne, Australian National University, and University of Sydney.  Germany: Typically, 2 years in duration, with a focus on research and innovation. Leading institutions include Technical University of Munich, University of Heidelberg, and Ludwig Maximilian University of Munich.  Popular Fields of Study and Renowned Universities Abroad, master’s programs cover a wide range of fields, with some of the most popular being:  Engineering and Technology: MIT, Stanford, and ETH Zurich.  Business and Management: Harvard Business School, INSEAD, and London Business School.  Computer Science: Carnegie Mellon University, University of California, Berkeley, and University of Cambridge.  Medicine: Harvard Medical School, Johns Hopkins University, and University of Oxford.  Humanities and Social Sciences: University of Cambridge, University of Chicago, and Yale University.  Admission Process and Standardized Tests The admission process for master’s programs abroad is competitive and typically involves:  Standardized Tests   GRE (Graduate Record Examination): Commonly required for various programs, especially in the USA.  TOEFL (Test of English as a Foreign Language) and IELTS (International English Language Testing System): Required for non-native English speakers to demonstrate English proficiency.  Application Materials  Academic transcripts, letters of recommendation, a statement of purpose, and a resume/CV.  For example, to get into top programs in the USA, a strong GRE score (typically above 320) and high TOEFL/IELTS scores are essential. Additionally, the UK often requires high academic standards and relevant work experience for business-related programs.  Why Pursuing a Master’s Abroad is Beneficial  Studying abroad offers numerous benefits, including exposure to diverse cultures, access to cutting-edge research facilities, and global networking opportunities. Graduates from international universities often find better job prospects and higher salaries due to the global recognition of their degrees.  If you aim to boost your career with a global perspective, explore our comprehensive guide on how to secure admission to top universities abroad and start your journey towards an international master's degree today!  Quality of Education Studying abroad generally offers a more dynamic curriculum, higher faculty qualifications, and superior access to technology and resources, enhancing the overall educational experience.  Aspect India Abroad Curriculum and Teaching Methodologies Traditional, theory-based, with a growing focus on practical applications and industry tie-ups. Innovative, research-driven, and often includes practical and hands-on experiences. Faculty Qualifications and Research Opportunities Faculty with strong academic backgrounds, but limited research funding and global exposure. Highly qualified faculty with extensive research funding and international experience. Access to Advanced Technology and Resources Access is improving but still limited in many institutions; disparities between top and average colleges. State-of-the-art facilities, cutting-edge technology, extensive libraries and online resources.  Cost of Education & Preparation Tuition Fees and Other Academic Expenses in India  In India, tuition fees for master’s programs vary widely based on the institution and program. Public universities are relatively affordable, with annual fees ranging from INR 20,000 to INR 2,00,000. Private institutions and specialized programs can cost significantly more, often between INR 3,00,000 and INR 10,00,000 per year. Additional expenses include books, supplies, and sometimes, laboratory fees.  Tuition Fees and Living Expenses Abroad  Abroad, tuition fees are generally higher. For example, in the USA, annual tuition for master’s programs can range from $20,000 to $50,000. In the UK and Australia, fees typically fall between £10,000-£30,000 and AUD 20,000-40,000 respectively. Living expenses, including accommodation, food, and transportation, can add another $10,000 to $20,000 per year, depending on the country and lifestyle.  Availability of Scholarships, Grants, and Financial Aid  Both India and foreign institutions offer scholarships and financial aid to students based on merit and need. In India, schemes like the National Scholarship Portal provide various grants. Abroad, universities, government programs, and private organizations offer scholarships and assistantships, significantly reducing the financial burden for eligible students.  Financial Planning for Education  Planning for education expenses is crucial. Parents can invest in education-specific savings schemes like Education Savings Accounts or 529 Plans, which offer tax benefits. Students can explore education loans with favorable interest rates and flexible repayment options.  EduFund offers comprehensive investment and loan solutions tailored to educational needs. With our expertise, you can secure the best funding options, ensuring a smooth financial journey for your higher education. Contact us today to explore how we can assist you in making your educational dreams a reality.  Career Opportunities and Industry Connections Job Market and Employment Prospects in India Post-Master’s  In India, the job market for master’s graduates is competitive, with strong demand in fields like IT, engineering, management, and finance. Graduates from top-tier institutions often secure well-paying positions in leading companies. However, the overall market can be challenging due to the large number of graduates and fewer high-quality job opportunities.  Job Market and Employment Prospects Abroad Post-Master’s  Abroad, the job market for master’s graduates is generally more robust and diverse. Countries like the USA, UK, Canada, Australia, and Germany have strong economies with high demand for skilled professionals in technology, healthcare, business, and engineering. Graduates often find better-paying jobs with greater opportunities for career advancement and professional development.  Industry Connections and Networking Opportunities  Industry connections and networking are critical for career growth. In India, while there are opportunities for networking through internships and industry partnerships, they can be limited compared to global standards. In contrast, studying abroad offers extensive networking opportunities through collaborations with leading companies, alumni networks, and international conferences. These connections can be invaluable for securing internships, job placements, and future career advancements.  Pursuing a master’s degree abroad provides not only a superior education but also enhances career prospects through global industry connections and a stronger job market. To maximize these opportunities, consider investing in your education with EduFund’s tailored investment and education loan solutions. Secure your future today! 

Studying abroad is ripe with opportunities. Over 7.65 lakh of Indians went abroad for higher education to pursue their dreams. This number keeps growing; The number of Indian students enrolled in foreign higher education institutions is expected to reach 20 Lakh by 2025. Studying abroad has become synonymous with success; it not only offers opportunities to grow professionally but can help with character building and personal development and makes one culturally sensitive.  There is no denying that studying abroad is expensive. The average cost of studying abroad comes to ₹30 to ₹40 lakhs for an Indian. But there are multiple opportunities at a student’s disposal; students have scholarships, overseas education loans, financial aid, exams for studying abroad with scholarships, etc. If you are parent who wishes to see their child go abroad for their bachelors or masters, you have the option of starting a college fund for the baby.  In this blog, we will be showing primarily on exams for studying abroad with scholarship. Asking questions like what the top exams are for studying abroad for Indians, which exam should you take for study abroad, what are the exams for studying abroad?   Key Exams for Study Abroad  Here’s a list of exams for studying abroad. Some of these exams are gateways to top universities and are mandatory for admission. For instance, SAT and ACT are significant if you wish to pursue bachelors in USA. TOEFL or IELTS are English speaking tests used for multiple courses across universities and countries.  Standardized Tests for Undergraduate Programs:  SAT (Scholastic Assessment Test): The SAT assesses reading, writing, and math skills. It's widely accepted by universities in the US, Canada, and several others.  ACT (American College Testing): Similar to the SAT, the ACT evaluates reading, English, math, science reasoning, and writing skills (optional). It's another prevalent test for US and some other universities.  Fees (Approximate INR):  SAT: ₹6200-₹7000 (with essay), ₹5400-₹5800 (without essay)  ACT: ₹12,000 (with writing), ₹9,000 (without writing)  Importance for Indian Students: These exams provide a standardized measure of academic preparedness for universities abroad. Scoring well strengthens your application and increases your chances of admission to prestigious programs.  Universities & Courses Unlocked: High scores on the SAT/ACT can open doors to top universities in the US, Canada, Singapore, Hong Kong, and others. These tests are typically required for various undergraduate programs, including Business, Engineering, Liberal Arts, Sciences, and more.  Relevance: The SAT and ACT assess core academic skills and critical thinking abilities deemed essential for success in a foreign university environment.  Standardized Tests for Graduate Programs: GRE (Graduate Record Examination): The GRE evaluates verbal reasoning, quantitative reasoning, analytical writing, and critical thinking skills. It's widely accepted by universities in the US and many others for various graduate programs.  GMAT (Graduate Management Admission Test): This test focuses on analytical writing, quantitative and verbal reasoning, and integrated reasoning skills. It's required for admission to most Master of Business Administration (MBA) programs worldwide.  Fees (Approximate INR):  GRE: ₹16,000  GMAT: ₹21,000  Importance for Indian Students: Similar to undergraduate exams, the GRE and GMAT demonstrate your academic preparedness for rigorous graduate studies. Strong scores can significantly enhance your application and scholarship prospects.  Universities & Courses Unlocked: High GRE/GMAT scores can unlock admission to top universities worldwide for Master's, Ph.D., and other graduate programs in various fields, including Business, Engineering, Sciences, Social Sciences, and Humanities (for GRE).  Relevance: The GRE and GMAT assess the specific skills and knowledge base crucial for success in graduate-level studies, particularly in quantitative and analytical areas.  English Proficiency Tests: TOEFL (Test of English as a Foreign Language): The TOEFL assesses English language proficiency for academic purposes. It's widely accepted by universities worldwide.  IELTS (International English Language Testing System): Similar to the TOEFL, the IELTS evaluates English language proficiency for academic and immigration purposes. It's another widely accepted test.  Fees (Approximate INR):  TOEFL: ₹13,000  IELTS: ₹15,000  Importance for Indian Students: Most universities abroad require proof of English language proficiency to ensure successful communication in class and academic settings. These tests fulfill this requirement.  Universities & Courses Unlocked: A good TOEFL/IELTS score is necessary for admission to almost any university abroad, regardless of the program.  Relevance: English proficiency is essential for comprehending lectures, participating in discussions, and completing coursework effectively at a foreign university.  Other Relevant Exams: LSAT (Law School Admission Test): Required for admission to law schools in the US and Canada.  MCAT (Medical College Admission Test): Prerequisite for admission to medical schools in the US, Canada, and Australia.  Study abroad exam preparation strategies  Conquering those exams is the first to studying abroad and getting the scholarships or financing to help you achieve your dream. Here are some tips to get you started:  Understanding the Exam:  Familiarize yourself with the exam format, content areas, and scoring criteria for each test you're taking (SAT, ACT, GRE, GMAT, TOEFL, IELTS). Each exam has a different objective, marking system and a set of questions.   Official test websites and prep materials offer valuable insights.  Study Planning & Time Management  Create a personalized study schedule that allocates dedicated time for each exam section.  Be realistic about your pace and adjust your plan as needed.  Schedule breaks to avoid burnout and maintain focus.  Practice Tests & Review Materials  Take practice tests regularly to identify strengths and weaknesses.  Utilize official practice materials, prep books, and online resources.  Review mistakes thoroughly to solidify concepts and prevent repetition.  Boost Your Prep  Consider enrolling in online courses or seeking guidance from tutors for personalized support.  Joining study groups can foster collaboration, knowledge sharing, and motivation.  Explore free and paid online resources like practice tests, video tutorials, and study guides.  Study abroad scholarship opportunities Financing your international education with scholarships is the best way to study abroad. Winning a scholarship is a great financial win but also adds immense value to your resume. It speaks volumes about your credulity, academic spirit and can help you seek better opportunities through networking.  Here's how Indian students can navigate the scholarship landscape:   Types of Scholarships:  Government Scholarships: The Indian Council for Cultural Relations (ICCR) Scholarship and the Study in India (SII) Scholarship are prestigious options fully or partially funded by the Government of India.  University Scholarships: Many universities abroad offer merit-based scholarships specifically for international students, including Indians. Explore individual university websites for details.  Subject-Specific Scholarships: Scholarships exist for specific academic fields like engineering, medicine, or business. Research organizations and foundations often offer such scholarships. These can be third-party scholarships like Rhodes Scholarships, British Council Scholarship or can be found on the university pages for specific courses.  Eligibility Criteria  Academic excellence is a primary criterion for most scholarships. Strong grades in relevant subjects and standardized test scores are crucial.  Some scholarships may have specific course or program requirements.  Extracurricular activities, leadership qualities, and community service involvement can strengthen your application.  Finding Scholarships  Utilize scholarship search engines designed for international students.  Check the websites of universities you're interested in for scholarship opportunities. Such as the EduFund Scholarships to help ease the financial stress!  Explore government scholarship portals and educational consultancies for guidance.  Crafting a Winning Application   Scholarship Essay: Research the scholarship and tailor your essay to its specific requirements. Highlight your academic achievements, career goals, and how the scholarship aligns with your aspirations.  Interview Preparation: Practice answering common scholarship interview questions. Showcase your passion for your field of study and demonstrate your suitability for the scholarship program.  Importance of Financial Preparedness  The importance of financial preparedness related to studying abroad cannot be emphasized more. Tuition fees are a major expense for a student and a parent. For Indian families, it can be tough, considering the currency exchange involved in the process. Other factors to consider is the growing inflation in education, the disparity between national and international fees abroad, and rising rent prices for students as well as the cost of living crisis.  Here's a breakdown of some major costs for studying abroad and how scholarships can help:   Living Expenses: Accommodation, food, transportation, utilities, and daily necessities can add up quickly.  Research average living costs in your chosen destination to create a realistic budget.  Travel Costs: Factor in flight tickets, travel insurance, and potential visa application fees. Explore scholarships that cover travel stipends to ease the burden.  Health Insurance: Many universities require international students to have health insurance.  The cost can vary depending on the coverage. Scholarships that include health insurance benefits can be a lifesaver.  Academic Materials: Textbooks, research materials, and course supplies can be expensive, especially compared to Indian prices. Factor these costs into your budget.  Unexpected Expenses: Emergencies, social activities, and unforeseen situations arise.  Set aside a contingency fund in your budget to navigate these bumps in the road.  Scholarships as a Lifeline:  Scholarships can significantly alleviate these financial pressures.  They can cover a portion of tuition fees, living expenses, and even travel costs.  Many scholarships also offer health insurance benefits, further reducing your financial burden.  However, securing scholarships shouldn't be your sole financial strategy. You can consider overseas education loans, saving for college via mutual funds or if you are in school or college, encourage parents to start a college fund for you.   Planning and Resources are Key:  Budgeting: Create a detailed budget outlining all anticipated expenses.  Research average costs for your chosen destination and program. You can check university websites to get the current fees and for future fees, you can try the College Cost Calculator!  Exploring Additional Resources: Consider part-time work options allowed by your student visa (restrictions apply). Look into student loans designed for studying abroad. Explore family support options if feasible.  Investing in Mutual Funds through EduFund The best way to start saving for college is to invest via mutual funds. EduFund helps you achieve that seamlessly. It guides parents and children through education planning by providing financial solutions like investing via mutual funds, scholarships and overseas education loans.   Why do we encourage parents to choose mutual funds at EduFund? Because mutual funds have historically given higher returns than the growing college costs. Mutual funds have the potential to beat college costs. They are also managed by professionals who understand markets and help you navigate them easily.   Starting an investment plan for your child through mutual funds with the help of EduFund is incredibly lucrative and easy. Step to investing:  Download the EduFund App & set up an investment account  Try our College Cost Calculator to determine the future costs  Generate an investment plan based on your child’s college goal  Speak to a savings experts or DIY the investment plan  That’s it, you will have a college fund to help your child study anywhere in the world!    EduFund can also help you get scholarships and low interest education loans. Education loans are one of the best ways to sponsor foreign education. The loans are designed to help meritorious students get financial help and pursue their dreams of studying abroad.  Success Story "Last year, I got my CAS from the university, and the final step was sorting out my finances. I was intimidated by the loan process, but EduFund experts came through. They guided me throughout the process! I loved the absolute transparency over fees and charges. Kudos to EduFund for everything!" Harsh LakhanpalHeaded to Queen Mary University, London, UK

Did you know?  The education loan market in India has seen significant growth over the past decade. As of 2024, the market is valued at approximately INR 1.2 lakh crore (USD 16 billion). The Compound Annual Growth Rate (CAGR) for education loans in India has been around 12% over the last five years.  Interesting, right? But, why?  In India, education isn't just a pathway to personal growth—it's a ticket to success and a better future. With prestigious institutions and competitive programs, the demand for quality education is sky-high. However, this excellence comes at a price. Higher education costs have been steadily rising at 10% or more, making it challenging for many families to afford without financial assistance. That's where student loans come into play, bridging the gap between your dreams and reality.  This blog aims to guide you in selecting the best student loan options available in India. Whether you're aiming for an engineering degree, a medical seat, or an international MBA, This page will provide you with insights and tips to ensure you make an informed choice. Let's dive in and find the perfect loan to fuel your educational journey!  What is a student loan?  A student loan is financial aid specifically for education expenses. It covers tuition, books, and living costs. In India, banks and financial institutions offer these loans. The interest rates for student loans in India range from 8% to 15%. As of 2023, over 3.5 lakh students avail student loans annually.  The loan amount depends on the course and institution. For studies in India, the maximum loan amount is ₹10-15 lakhs. For international studies, it can go up to ₹80 lakhs or more.  Repayment usually starts after the course completion. There is a moratorium period, typically 6 months to a year. During this period, repayment is not required. Student loans can be secured or unsecured. Secured loans need collateral, while unsecured loans do not.  Student loans are a crucial tool to make higher education accessible. They ensure that financial constraints don't hinder your educational goals.  Types of student loans available in India  Secured vs. Unsecured Loans  Secured loans require collateral, such as property or fixed deposits. They usually offer lower interest rates and higher loan amounts. Unsecured loans don't need collateral but may have higher interest rates and lower loan limits. Both types have their advantages, and the choice depends on your financial situation and risk tolerance.  Feature Secured Loans Unsecured Loans Collateral Required Not required Interest Rates Lower (6%-12%) Higher (10%-15%) Eligibility Criteria Stricter due to collateral requirement More lenient Approval Time Longer due to collateral verification Quicker Secured vs. Unsecured Loans  Government vs. Private Loans  Government loans are offered by public sector banks and come with subsidized interest rates. They often have favorable terms, especially for economically weaker sections. Private loans are provided by private banks and financial institutions. They offer more flexibility but may have higher interest rates. The choice between the two depends on your eligibility and specific needs.  Feature Government Loans Private Loans Provider Public sector banks and government schemes Private banks and financial institutions Interest Rates Lower and subsidized Higher, varies by lender Flexibility Less flexible, strict criteria More flexible, varied criteria Subsidies/Benefits Often available for economically weaker sections Sometimes offered Processing Time Generally, longer Usually faster Government vs. Private Loans  Key student loan features  Loan Amount and Coverage  Student loans in India can range from ₹1 lakh to ₹1 Cr or above, depending on the course and institution. Coverage may include tuition fees, accommodation, living expenses, books, travel cost, and supplies.  Tuition Fees: The primary component of student loans is tuition fees, which can be up to 100% of the total course cost. This ensures you can focus on your studies without financial worry.  Accommodation and Living Expenses: Loans also cover accommodation costs, whether on-campus or off-campus. Living expenses like food, travel, and daily necessities are included, often up to ₹1-2 lakhs per year.  Books and Supplies: Books, study materials, and essential supplies are covered under student loans. This can amount to ₹50,000 to ₹1 lakh per year, depending on the course requirements.  .  Interest rates Interest rates for student loans in India range from 8% to 15%. The rate depends on the lender, loan type, and borrower’s credit profile Fixed vs. Variable Rates  Fixed rates remain constant throughout the loan tenure, providing predictability in repayments. Variable rates fluctuate with market conditions, which can be beneficial or risky depending on economic factors.  FeatureFixed Interest Rate Variable Interest RateInterest Rate StabilityInterest rate remains constant throughout the loan termInterest rate fluctuates based on an underlying benchmark or indexLoan PaymentsPredictable and consistentVary based on interest rate changesFlexibilityLess flexible if borrower wants to change terms or exit the loan earlyMore flexible, but with greater risk of rate changesInitial RateGenerally higher than variable ratesOften lower than fixed rates, especially for introductory periodsRiskLower risk due to predictable paymentsHigher risk due to potential rate changesLoan TermsAvailable for various terms, from 6 months to 10 yearsTypically available for shorter terms, such as 5/1 or 7/1 ARMsForecastingEasier to forecast cash flow due to predictable paymentsMore challenging to forecast cash flow due to changing ratesAttractive FeaturesPredictable payments, flexibility in loan termsAttractive introductory rates, lower initial ratesDisadvantagesHistorically more expensive over the life of the loanGreater risk of rate changes, potentially higher total cost Subsidized vs. Unsubsidized Interest  Subsidized loans have the government paying the interest during the study period. Unsubsidized loans require the borrower to pay all the interest, even during the study period.  FeatureSubsidized LoansUnsubsidized LoansInterest PaymentGovernment pays interest while borrower is in school, during the 6-month grace period, and during deferment periodsBorrower is responsible for paying interest from the time the loan is disbursedEligibilityAvailable to undergraduate students who demonstrate financial needAvailable to both undergraduate and graduate students, regardless of financial needInterest RateFixed rate of 4.99% for undergraduate students, disbursed between July 1, 2022 and June 30, 2023Fixed rate of 4.99% for undergraduate students, disbursed between July 1, 2022 and June 30, 2023; 6.54% for graduate studentsRiskLower risk due to government-paid interestHigher risk due to borrower responsibility for interest paymentsForecastingEasier to forecast cash flow due to predictable interest paymentsMore challenging to forecast cash flow due to changing interest ratesFlexibilityLess flexible if borrower wants to change terms or exit the loan earlyMore flexible, but with greater risk of rate changes Repayment Terms and Options  Repayment typically starts after the course completion, with a moratorium period of 6-12 months. Options include standard EMIs, step-up EMIs, or flexible repayment schedules based on the borrower’s income.  Grace Period  Grace period The grace period is a post-study duration during which repayment is not required, usually 6-12 months. This allows graduates time to secure a job before starting repayments.  Loan Tenure  Loan tenure can vary from 5 to 15 years, depending on the loan amount and repayment capacity. Longer tenures reduce EMI amounts but increase total interest paid.  EMI (Equated Monthly Installment) Options EMI options include standard fixed EMIs, where the amount remains constant. Some lenders offer step-up EMIs, which start low and increase over time, matching the borrower’s growing income.  Eligibility criteria for student loans in India Eligibility criteria for student loans in India typically include factors such as admission to recognized courses, Indian citizenship, and specific age limits. Financial institutions assess applicants based on academic performance, course accreditation, and co-applicant guarantees. Basic eligibility requirements for students Students must be Indian citizens to qualify for student loans in India. Additionally, they should have a strong academic record and a clear career plan.  Age Limits:  Most lenders require students to be between 18 and 35 years old. This range ensures the borrower is mature enough to manage the loan and its repayment.  Academic Qualifications:  Applicants must have completed their higher secondary education (12th grade). They should also have a consistent academic record with no gaps in their education.  Admission to Recognized Institutions: Students must have secured admission to recognized institutions in India or abroad. This includes universities, colleges, and professional courses approved by the relevant authorities.  Co-applicant Requirements:  A co-applicant, usually a parent or guardian, is mandatory for most student loans. The co-applicant shares responsibility for loan repayment, adding an additional layer of security for the lender.  Role of Parents/Guardians:   Parents or guardians often act as co-applicants, providing financial backing. Their involvement is crucial, especially for securing higher loan amounts or better terms.  Financial Stability and Credit History of Co-applicant:  The co-applicant’s financial stability and credit history significantly impact loan approval. A good credit score (typically 700 or above) and stable income increase the chances of loan approval and better interest rates.  Comparing the best banks for student loans in India  Here’s a comparison of student loans offered by some of the top banks in India.  Bank/Institution Interest Rate* Loan Amount Repayment Tenure Processing Fee Collateral Requirement Moratorium Period State Bank of India (SBI) 7.50% - 10.75% Up to ₹1.5 crore Up to 15 years Up to ₹10,000 Required for loans above ₹7.5 lakh Course duration + 1 year HDFC Bank 9.55% - 13.25% Up to ₹40 lakh (can be higher for premier institutes) Up to 15 years Up to 1% of loan amount Required for loans above ₹7.5 lakh Course duration + 1 year ICICI Bank 10.25% - 11.75% Up to ₹1 crore Up to 10 years Up to 1% of loan amount Required for loans above ₹7.5 lakh Course duration + 6 months Axis Bank 10.50% - 13.00% Up to ₹75 lakh Up to 15 years Up to 1.5% of loan amount Required for loans above ₹4 lakh Course duration + 1 year Punjab National Bank (PNB) 8.75% - 10.50% Up to ₹1 crore Up to 15 years Up to 1% of loan amount Required for loans above ₹7.5 lakh Course duration + 1 year Bank of Baroda 7.85% - 10.25% Up to ₹1 crore Up to 15 years Nil for loans up to ₹4 lakh, otherwise up to 1% Required for loans above ₹7.5 lakh Course duration + 1 year Canara Bank 8.75% - 10.50% Up to ₹40 lakh (can be higher for premier institutes) Up to 15 years Up to 1% of loan amount Required for loans above ₹7.5 lakh Course duration + 1 year Avanse Financial Services 11.75% - 16.00% Up to ₹1 crore Up to 12 years Up to 1% of loan amount Required based on loan amount and institute Course duration + 6 months Credila (HDFC Credila Financial Services) 11.85% - 13.75% Up to ₹1 crore Up to 10 years Up to 1.5% of loan amount Required based on loan amount and institute Course duration + 1 year InCred Education Loan 11.75% - 14.00% Up to ₹1 crore Up to 15 years Up to 1% of loan amount Required based on loan amount and institute Course duration + 6 months  *The interest rates are subject to change and may vary based on the profile of the borrower, co-applicant, and the institution/course of study.  How to apply for an education loan in India  Here are simple steps you can use to apply for a student loan -  Research and Compare Loan Options: Evaluate various banks and loan schemes for the best interest rates and terms.  Documents Required for Student Loan: Gather necessary documents like admission proof, income proof, identity, and address verification.  Fill Out the Loan Application Form: Complete the application form accurately with all required details.  Submit the Application and Documents to the Bank/ loan provider: Provide the filled form and documents to the chosen bank.  Loan Processing and Approval: The bank reviews the application and verifies the documents.  Disbursement of the Loan Amount: Upon approval, the bank disburses the loan amount directly to the institution or as per agreed terms.  How to apply for an education loan in India  Choosing the right student loan can greatly impact your financial well-being. Here are some tips to help you make an informed decision:  Compare Interest Rates and Total Cost: Look beyond just the interest rate; consider the total cost of the loan over its tenure.  Check for Hidden Charges and Fees: Be aware of any processing fees, prepayment penalties, or other hidden charges that may affect the overall cost.  Understand Repayment Terms and Flexibility: Ensure you understand the repayment schedule, EMI amount, and any flexibility in repayment options.  Consider the Reputation and Customer Service of the Lender: Choose a lender with a good reputation for customer service and transparent policies.  Evaluate Additional Benefits: Look for loans that offer additional benefits like interest subsidies for certain categories of students or moratorium periods post-course completion for job search or further studies. These benefits can significantly reduce your financial burden in the long run.  Benefits of choosing EduFund for your student loan  Although we’ve talked about how you can choose the best student loan in India, let us give you a shortcut to that – EduFund!  Book a FREE consultation Here’s what we can offer you!  Loan Features What EduFund Offers Competitive Interest Rates EduFund offers competitive interest rates starting from 5.5%. No Processing Fees No processing fees, ensuring you save on upfront costs. Flexible Repayment Options Customizable repayment plans based on your financial situation. Quick and Easy Application Process Streamlined application process for faster loan approval. Pre-Approved Loan Offers Pre-approved loan offers based on your eligibility. Expert Loan Advisors Access to expert loan advisors for guidance and support. Online Account Management Convenient online account management for loan tracking. Additional Benefits Additional benefits like interest subsidies and tax benefits.  Choosing the right student loan is pivotal for a successful academic journey. With careful research, comparison, and consideration of factors like interest rates, repayment terms, and lender benefits, you can make an informed decision.  

The thrill of studying abroad – a new culture, diverse experiences, and a global perspective – is undeniable. However, the financial hurdles associated with international education can be daunting. Between tuition fees, living expenses, and travel costs, securing funding becomes critical in realizing your dream. This blog is your guide to navigating the education loan application process. We'll focus on EduFund loans as the ultimate tool for accessing affordable financing for your study abroad adventure. We'll demystify the loan application maze and highlight the streamlined and user-friendly approach offered by EduFund loans. Understanding Education Loan Applications An education loan application form is your official request for financial assistance to pursue your studies abroad. Think of it as a roadmap for the lender, providing them with the necessary details to assess your eligibility and loan requirements. The application form typically includes sections for your personal details, academic background, course specifics, financial information, and sometimes details about a guarantor or co-signer (if applicable). Remember, accuracy and completeness are paramount. Double-check all information before submitting your application to avoid delays or potential rejection. Important Documents for Education Loan Application You must gather and submit specific documents to complete your education loan application successfully. Here's a list of some essential ones (requirements may vary slightly depending on the lender): Completed application form: This is the foundation, so ensure all details are accurate and truthful. Academic transcripts and certificates: Proof of your academic achievements is crucial. Proof of admission to a foreign university: An official acceptance letter demonstrates your confirmed enrollment. Proof of identity and residence: Valid documents like passports or utility bills verify your identity and address. Financial documents: Income tax returns, bank statements, or sponsor letters demonstrate your financial situation. Guarantor/co-signer documents (if applicable): If required, provide documents proving your guarantor's financial strength. EduFund Advantage: A Streamlined Approach to Education Loan Applications Feeling overwhelmed by the paperwork and complexities of a traditional loan application? EduFund loans offer a refreshing solution! Here's why EduFund stands out: Simplified Online Application: Ditch the paper forms! EduFund boasts a user-friendly online application platform that seamlessly guides you through the process. Streamlined Document Submission: No more scrambling for physical copies. Upload all required documents securely through the EduFund platform. Fast and Efficient Verification: EduFund utilizes technology to expedite document verification, ensuring a quicker application turnaround. Dedicated Customer Support: Have questions or need guidance? EduFund's dedicated customer support team can assist you throughout the application process. A Step-by-Step Guide to Applying for an EduFund Loan Ready to embark on your journey with EduFund loans? Here's a step-by-step guide to make the application process smooth and efficient: Visit the EduFund website: Navigate to the "Apply Now" section or the designated application page. Fill out the Online Application: Provide accurate and complete details about yourself, your academic background, and the program you'll be pursuing. Upload Required Documents: Utilize the secure upload feature to submit all necessary documents per the checklist. Submit Your Application: Once you've reviewed and confirmed all information, submit your application electronically. You'll receive a confirmation email. Await Loan Approval and Discuss Terms: EduFund will review your application and notify you of the approval decision. Upon approval, you can discuss loan terms and interest rates before finalizing the agreement.

Earning a Master's degree from the United States is a dream for many aspiring professionals. A US Master's degree opens doors to a world of opportunity, with globally recognized credentials that enhance your career prospects and unlock a higher earning potential. However, the high cost of education in the US, especially for international students, can be a significant obstacle. The good news is, there are ways to make a US Master's degree more affordable. This blog will guide you through various strategies for finding affordable programs and highlight some top universities in the US offering such opportunities. We'll also explore how parents can support their children's educational dreams and introduce EduFund as a valuable solution. Why Pursue a Master's Degree in the USA? Investing in a US Master's degree can yield a significant return on investment (ROI). Here's why: Globally Recognized Credentials: A US Master's degree is a prestigious qualification recognized by employers worldwide. It gives you a competitive edge in the job market and opens doors to international career opportunities. Specialized Programs & Cutting-Edge Research: US universities offer a vast array of specialized Master's programs, allowing you to delve deeper into your chosen field. Many institutions are at the forefront of research, providing access to cutting-edge knowledge and practical applications. Practical Learning & Industry Connections: Many US Master's programs emphasize practical learning experiences, internships, and connections with leading industries. This equips you with the skills and networks employers value most. Increased Earning Potential: Studies consistently show that graduates with Master's degrees often command higher salaries compared to those with only a Bachelor's degree. Top 5 US Universities with Affordable Master's Programs Arizona State University (ASU) - Tempe, Arizona: Introduction: ASU is a large, public research university known for its innovative programs and commitment to online education. Tuition Fees (Estimated): $15,000 - $25,000 per year (online programs) Top Master's Programs for Indian Students: Computer Science, Engineering (various specializations), Business Administration, Supply Chain Management, Data Analytics. Additional Points: ASU offers numerous scholarships specifically for international students, making it a financially attractive option. Their online programs provide flexibility and potentially lower tuition fees. University of North Carolina at Chapel Hill (UNC Chapel Hill) - Chapel Hill, North Carolina: Introduction: UNC Chapel Hill is a prestigious public research university known for its strong academic programs and beautiful campus. Tuition Fees (Estimated): $25,000 - $35,000 per year (Out-of-State) Top Master's Programs for Indian Students: Public Health, Information Technology, Environmental Sciences, Business Administration, Data Science. Additional Points: While UNC Chapel Hill has a slightly higher cost of living compared to the national average, it offers a well-rounded academic experience and strong alumni network. Research in-state tuition options if eligible. Western Kentucky University (WKU) - Bowling Green, Kentucky: Introduction: WKU is a public university known for its affordability and quality programs. It offers a vibrant campus life in a relatively low-cost area. Tuition Fees (Estimated): $12,000 - $20,000 per year Top Master's Programs for Indian Students: Engineering Management, Computer Science, Business Administration, Marketing, Public Health. Additional Points: WKU offers a combination of on-campus and online Master's programs, making it suitable for various learning preferences. The lower cost of living in Bowling Green helps manage overall expenses. University of Wisconsin-Madison (UW-Madison) - Madison, Wisconsin: Introduction: UW-Madison is a renowned public research university with a strong reputation in science, engineering, and humanities. Tuition Fees (Estimated): $28,000 - $40,000 per year (Out-of-State) Top Master's Programs for Indian Students: Engineering (various specializations), Computer Science, Supply Chain Management, Life Sciences, Public Policy. Additional Points: While tuition fees are higher, UW-Madison offers excellent research opportunities and a vibrant campus life. Explore scholarship opportunities to offset costs. Purdue University - West Lafayette, Indiana: Introduction: Purdue University is a public research university with a global reputation in engineering, technology, and agriculture. Tuition Fees (Estimated): $25,000 - $35,000 per year (Out-of-State) Top Master's Programs for Indian Students: Engineering (various specializations), Computer Science, Management Information Systems, Aviation, Food Science. Additional Points: Purdue University offers a strong focus on practical learning and industry connections, making graduates highly sought-after by employers. Research scholarship and assistantship possibilities. Please note: Tuition fees are approximate and may vary depending on the specific program. It's crucial to research individual universities and programs for the most up-to-date information. Top Strategies for Finding Affordable Master's Programs Finding an affordable Master's program in the US requires strategic planning. Here are some key tips: Explore Public Universities: Public universities generally boast lower tuition fees compared to private institutions. Research public universities within your chosen field that offer strong Master's programs. Consider Location: While prestigious universities in major cities can be tempting, they often come with a higher cost of living. Consider universities located in regions with a lower cost of living to manage expenses effectively. Look for Online Programs: The rise of online education offers flexibility and potentially lower tuition fees while providing a quality education. Explore online Master's programs from reputable universities. Research Scholarships and Financial Aid: Many universities offer scholarships and financial aid specifically for international students. These can significantly reduce your financial burden. Research and apply for scholarships offered by the university, external organizations, or your home country. Target Programs with Assistantships: Graduate assistantships can provide a valuable combination of tuition reduction and work experience. These assistantships typically involve assisting professors with research or teaching duties.

Education can be a costly affair not only in terms of tuition fees but also the add-ons like different gadgets for students only add to your cost of living alone. Electronic gadgets form an important part of such expenses but there are some gadgets to make your student's life easier. Being informed about which gadgets serve your educational needs can be helpful in deciding if you need a laptop or a smartphone. In the long run, you don’t want to make investments you might regret later. You also want to take note of the following gadgets as expenses to consider while applying for an education loan.  Start a Goal for these Gadgets! Learn how to manage your child’s screen time on mobiles, TVs and other screens! Gadgets are essential for your child's learning, growth and development. However, its important to regulate this screening and access to gadgets, watch this video to learn the best way to give your child the best of both worlds! https://www.youtube.com/watch?v=hM54u7uCWjM Gadgets for Students Here are some essential gadgets that can make a student's life easier and enhance the learning process! 1. Smartphone or Tablet  Gone are the times when a mobile phone was solely seen as a source of distraction for students. These days a smartphone is one of the primary requirements. Be it, online classes, watching educational videos, accessing your email account, or simply surfing the internet, a smartphone is a go-to.  An alternative to smartphones is tablets which come with slightly bigger screens and better resolutions. For example, an iPad will have a higher aspect ratio than an iPhone. This means that the iPad will have more resolution and screen size than the iPhone. But it also means that an iPhone is more compact as a device as compared to an iPad. While purchasing either, you are required to make the right choice by weighing it against your requirements.   https://www.youtube.com/watch?v=tdwqQH0xkFw 2. Laptop or PC Unlike earlier, everything that can be accessed through a computer is also accessible through smartphones. However personal computers are favored over smartphones because of the experience they offer. A personal computer might comprise a monitor, CPU, keyboard, mouse, speaker, webcam, internal hard drive, and so on. Although these gadgets have to be purchased separately and can take up considerable space. But it is a good investment if you are a student because it creates a dedicated space for studying.   With laptops, the experience might not be as top-notch. Nevertheless, Macbooks are popular amongst students because of their compact design and the convenience of portability. A laptop works wirelessly and comes with a keyboard, built-in speakers, a web camera, and a touchpad in the place of a mouse. It is a brilliant investment especially if you are staying away from home for educational purposes.  3. External Hard drive  Nowadays every document you own can be saved up as a soft copy in cloud memory or your e-drive connected to your email account. This helps you take up less physical space with your studying materials. Even so, owning an external hard drive is a smart move if you want to be extra careful about preserving all of your materials.  An external drive allows you to access your documents easily without taking up much of your study space or the internal space on your device. All you have to do is connect the drive to your laptop or PC. Another attractive feature of an external hard drive is its portability.  4. Noise Cancellation Headphones  Headphones have existed as a wanted product in the market for a long time. One of the new features that have caused a terrific comeback for headphones is its noise cancellation. As the name suggests, noise-canceling headphones are meant to block out all of the external noise not only while listening to an audio clip but also during recordings or incoming and outgoing calls. The level of concentration a student can achieve is always considered a virtue that helps them excel in academics. Noise-cancellation headphones can help them attain that level of undivided attention which is also a requirement for online classes that have become the trend during the pandemic.  5. Printer  Even though many new and cool gadgets have flooded the market, printers shall never run out of fashion. If your subject or the academic course you have enrolled in requires you to get things printed regularly, going to a shop to get it done makes no sense.  Well-known brands like Epson, HP, Brother, Samsung, and Canon have introduced a range of budget printers to the market in recent years. By purchasing one of these, you would not only save up on your daily expenses but also preserve your precious time. In fact, having a printer at home can come in handy during emergency assignment submissions.   6. Electric Kettle & Emergency Lamp As a student, you might be required to pull all-nighters frequently. Even if that is not the case, staying up late might simply be part of your daily study routine. In such circumstances, gadgets that can make your life easier are electric kettles and emergency lamps.  Make yourself a cup of coffee or tea if you feel drowsy. You are no longer required to leave your study table to go to the kitchen as long as own an electric kettle. An emergency table lamp will come in handy if you are sharing your room with a fellow student or living in a dorm.   7. Kindle  Kindles will never run out of favor among students as long as academics is about gathering knowledge by reading books. A Kindle is an e-reader manufactured and sold by Amazon. One can read not only e-books but also e-magazines and other such digital content on this wireless gadget.  Call it a side effect of globalization, but nowadays students are required to keep moving from one location to another during different stages of their education. As such, a Kindle is an indispensable gadget - it is the alternative to carrying hard copies of bulky books. Moreover, it comes with cool features like a highlighting tool and sometimes a waterproof body. Dictionaries will be at your disposal while reading if you have them downloaded on your Kindle. You will not be required to carry a dictionary everywhere you go, as long as carry your books in your Kindle.    8. External Batteries & Portable Chargers   Being a student means you will require safe-to-use and convenient gadgets to charge devices like your phone, laptop, tablet, speaker, and so on. A range of portable chargers has been developed in recent years by reputed companies to make life easier. The concept of clutch batteries or chargers that are the size of a clutch or purse is becoming increasingly popular in this era of digitization.    For students who depend on rigorous online activity as part of their academic curriculum, these allow them to charge their devices wherever they are. For charging devices iPhones, special external batteries like the Ubio Labs Shadow Series have been developed which are not only easy to carry but also stunning to look at. 9. Rocketbook Everlast smart reusable notebook  Rocketbook is a digital notebook for all those who love to write over typing. It is a useful and affordable gadget for students who have trouble taking notes on their laptops and need a notebook that can be reused and even used later to add transfer notes digitally.   It’s a popular and efficient product for college students, school students and even working professionals.    10. Anti-theft laptop bag   Want to protect your expensive laptop then get an anti-theft laptop bag to ensure maximum security for your gadgets as a student. It is an affordable bag. bag rucksack and helps you protect your precious belongings at school or college from theft.    11. External hard drive  An external hard drive is a must for every student. It helps you store all your data safely. If you are a student who uses a lot of storage on your laptop for photos, videos, college projects, or freelance work – this is the right gadget for you. It helps you protect your data from a virus on your laptop or in the event your laptop breaks down.   Hard drives come in different capacities and based on that; the product has different price points.     12. Laptop tray with fans  A laptop tray is a great addition to the list of gadgets students need. It cools down your laptop and ensures your work is not hindered because of an overheating laptop or sudden shutdown because of overuse. Make you get a laptop tray the size of your laptop.   These trays are portable and let you work on your laptop without any disturbance.     13. Folding Bluetooth keyboard  A folding keyboard is great for students who do not have a laptop. You can attach it to your phone or tablet and type away your notes or do-to lists. It's lightweight, easy to carry, and connects with your laptop, phone, iPad, or tablet with ease.   It is a great alternative for students who do not have to buy a laptop but need a writing keyword to type their assignments and projects.    14. Wi-Fi range extender  The Wi-Fi range extender is a great product for students. The Internet is man’s new best friend and a student’s savior during college. Good Wi-Fi can help you with your workload. A range extender can cover your entire house or apartment, you do not have to sit in a particular corner to get the best service.    15. Portable phone charger  Student hours are long and tiring. You may not always have a battery on your phone or a plug to charge it quickly. That’s when a portable charger comes in handy, you can charge your phone while traveling, during class, or in a car.   It is a must-buy gadget for students and working professionals.   Start a Goal for these Gadgets! Conclusion Choosing the correct devices to make your student's life easier should not be a taxing chore. Make sure to devote time to saving up beforehand for each investment. Having funds dedicated to such purchases and knowing what you should purchase can make your student's life not only easier but also fulfilling. FAQs Which gadget is best for students? Here are some gadgets for students that make their lives easier: Smartphone or Tablet Laptop or PC External Hard drive Noise Cancellation Headphones Printer Electric Kettle & Emergency Lamp Kindle External Batteries & Portable Chargers Rocketbook Everlast smart reusable notebook Anti-theft laptop bag External hard drive Laptop tray with fans Folding Bluetooth keyboard Wi-Fi range extender Portable phone charger Why are gadgets useful for students? Gadgets serve many purposes; they make our lives easier, help us stay connected with the world, and make significant life decisions. From helping with homework to traveling the world, gadgets are useful, for students for education, learning, and life experiences. What are some fun gadgets? Here are some fun gadgets for students: FitbitSmartphone or TabletLaptop or PCNoise Cancellation Headphones

A degree is necessary for success in today's extremely competitive work market. However, soaring college fees have turned into a serious hurdle for many people who want to pursue their aspirations. The good news is that degrees with a high return on investment (ROI) are still accessible and reasonably priced.  These degrees provide students with a valuable opportunity to gain the knowledge and skills necessary for lucrative careers without burdening themselves with excessive student loan debt. This blog post will explore some of the most affordable degrees with high ROI, enabling individuals to make informed decisions about their educational and financial futures. What does ROI mean? ROI is a metric used to compare a financial advantage, such as an annual income, to the investment made to obtain that benefit, such as college tuition. When you make back more money than you spent, you have a positive ROI. For instance, it's crucial for medical students to locate employment that will allow them to repay their $200,000(INR 1.64 cr) in school debt and make enough money to maintain themselves. Lucrative employment offers them a great return on their educational investment. Degrees with high ROI Abroad? Read More Affordable Degrees | Optimize Your ROI 1. Computer Science and Information Technology The demand for experts in computer science and information technology is rising as a result of the quick development of technology. Earning a degree in this area of study might open up lucrative job options. Programs in computer science and information technology are available online and in many accessible universities and colleges. These programs frequently include practical experience, internships, and links to the business, all of which considerably improve graduates' employability. Graduates with a degree in computer science can expect average salaries ranging from $65,000 to $120,000 (INR 53.3 to 98.4 lakhs)  per year, depending on factors such as specialization and location. 2. Nursing and Healthcare Nursing and healthcare degrees are widely sought after since the global healthcare business is one of the fastest-growing industries. Numerous respectable universities provide reasonably priced associate's and bachelor's degree nursing programs. Nursing graduates frequently land in highly sought-after, lucrative careers, making this degree a great financial investment. A job in healthcare also offers the chance to improve people's lives, which adds to its inherent rewards. Nurses with a bachelor's degree can earn average salaries between $60,000 (INR 49.2 Lakhs) and $100,000 (INR 82 Lakhs) per year, depending on their location and level of experience. https://www.youtube.com/watch?v=q5JdCRkgcT8 3. Engineering Mechanical, civil, electrical, and aerospace engineering degrees routinely rank among the most cost-effective degrees with the highest ROI. Many businesses, including manufacturing, construction, and technology, are in need of engineering graduates. These courses often give students a strong foundation in science, math, and problem-solving techniques. Additionally, university-sponsored engineering co-ops and internships enable students to network with future employers while gaining real-world experience. Although this degree typically requires a higher upfront investment, graduates can enjoy high earning potential, with average salaries ranging from $90,000 to $150,000 (INR 73.8 to 1.2 cr) per year. 5 Degrees that provide better ROI Abroad than in India Read More 4. Business Administration and Management A degree in business administration or management opens doors to a wide range of career paths and can be obtained at affordable institutions. These programs equip students with essential skills in leadership, finance, marketing, and entrepreneurship. Graduates often find employment in various industries, such as finance, consulting, and marketing. Moreover, pursuing an affordable business degree can also serve as a stepping stone for aspiring entrepreneurs, providing them with the knowledge and network necessary to start their own successful ventures. Depending on their role and experience, professionals in this field can earn average salaries between $60,000 (INR 49.2 Lakhs) and $120,000* (INR 94.8 Lakhs) per year. 5. Renewable Energy and Environmental Science Degrees in environmental science and renewable energy have become increasingly important as the globe concentrates on sustainability and tackling climate change. Numerous colleges provide reasonably priced courses in environmental sciences, environmental engineering, and renewable energy. Graduates in this sector can benefit from great employment possibilities while also helping to create a more sustainable future. Professionals in this sector should anticipate competitive remuneration and long-term job security as a result of the growing need for renewable energy solutions. Professionals in the field of environmental science can earn average salaries between $50,000 (INR 41 Lakhs) and $80,000 (INR 65.6 Lakhs) per year, depending on their specific role and industry. Research respected universities that provide top-notch programs and have a history of turning out successful graduates while looking for cheap degrees. Scholarships and other forms of financial assistance can also lessen the cost of attending college. The secret is to select a degree that fits your hobbies and interests while also taking the cost into account. You may open up a world of options and start along a path to professional and financial success by making an informed choice and making a judicious investment in a degree that is cheap and has a good return on investment.

Securing an education loan for abroad studies opens the door to a world of academic and personal growth. Let’s break down the process for getting educational loans for abroad studies and find out the eligibility criteria, documents needed, how to get an education loan, and much more. Education Loans for Abroad Studies In an increasingly interconnected world, pursuing education abroad has evolved from being a mere aspiration to a transformative experience. The exposure to diverse cultures, cutting-edge academic programs, and unparalleled opportunities for personal growth has made international education a sought-after endeavour. However, the costs associated with studying abroad can be overwhelming. This is where investment in education loans comes to the rescue, acting as a bridge between dreams and reality. https://www.youtube.com/watch?v=4gTQkdePOWM Are you eligible to get a study loan abroad? To be eligible, applicants often need to meet certain requirements that the bank has set. For instance, if you are applying for a study loan to study abroad from India then here are the basic eligibility criteria that you need to meet. The applicant must be 16 years old and an Indian citizen Co-applicants must be an Indian citizen Ability to offer collateral for certain cases Co-borrower(s) must have a bank account in any bank in India with cheque facilities and a good credit history. Confirmed admission to the colleges before disbursement. Admission Confirmation: Having an admission offer from a recognized foreign institution is a prerequisite for applying for an education loan. The institution's reputation and the chosen course play a role in determining loan approval. Co-Applicant/ Guarantor: Many lenders require a co-applicant, usually a parent or guardian, to share the responsibility of repaying the loan. The co-applicant's financial stability can influence the loan's terms. Collateral: Depending on the loan amount, lenders might ask for collateral as security. Property, fixed deposits, or other priceless assets can be used as collateral. Eligibility criteria differ on the basis of your nationality. Co-Applicant Education Loan Guide Read More How should you apply for an education loan abroad? Navigating the education loans for abroad studies application process can be overwhelming, given the multitude of options and procedural complexities. To get an education loan, you can visit public and private banks and international lenders, find out the interest rate and start the process with your chosen provider. Rather than visiting all the banks, you can opt for an education loan counselor. An educational loan counselor is an expert who serves as an intermediary between aspiring students and financial institutions, helping them find the best loan options tailored to their needs. They streamline the loan application process, help with documentation, and get your fast approval. Education loan counselors can help you save both time and effort. https://www.youtube.com/watch?v=fufyFB9aMQI Documents you need for an Education Loan When applying for an education loan, the documentation process is a crucial step. Commonly required documents you must have: Loan application form Passport-size photos PAN card and Aadhar card Indian passport (if you are going abroad) Marksheets for 10th, 12th & Graduation Entrance exam results (like IELTS, GMAT, GRE, TOEFL, etc.) Offer letter or a conditional admission letter (if received) Work experience proof (if any) In the case of self-employed co-applicant 8-month bank statements of savings & current account 2- years ITR statement Collateral documents (if needed) In the case of salaried co-applicant6-month bank statements of the salary account of the co-applicant2-year ITR / FORM 16 co-applicant3-month salary slips Collateral documents (if needed) How to use the Education Loan Calculator for abroad studies? An education loan calculator is a way to find out the monthly payments you will be making to close your student loan! An education loan for abroad studies is a huge responsibility, and the calculator helps you find out the EMIs you will potentially be repaying, the duration of repayment, and the total payable amount after adding the interest. It’s very easy to use and can help you determine the future EMIs on your loan. For instance, you decide to take a loan of Rs. 25,00,000 at an interest rate of 10%. The decided loan tenure is 10 years. If you put all these details in an educational loan calculator, it will tell you the exact EMI amount, which is Rs. 33,038, the total payable amount, that is Rs. 39,64,522 along with the payable interest amount (Rs. 14,64,522) on top of the principal amount of Rs. 25 lakhs. An education loan calculator is a powerful tool that helps you prepare for the future, let's gauge the estimated costs you will be repaying and helps you budget for it in advance. What is the interest rate of education loans abroad? The interest rate depends on many factors. The interest rate of education loans for abroad studies is determined by the bank, individual profile, co-applicant history, and whether it’s a secured or unsecured loan. If you are applying with EduFund, you can get low and attractive interest rates starting from 9% with the top loan providers like Prodigy Finance, IDFC First Bank, ICICI Bank, Axis Bank, and many more. Things to Know Before Choosing an Education Loan Selecting the right education loan requires a careful evaluation of several factors: Interest Rate: The interest rate significantly impacts the overall cost of the loan. For the best deal, compare the rates provided by several lenders. Repayment Tenure: Longer repayment tenures might result in lower monthly installments but higher overall interest payments. Choose a tenure that aligns with your financial plans. Processing Fees: Understand the processing fees associated with the loan application. Some lenders might have hidden charges that could affect your repayment burden. Tax Benefits: In some countries, education loan interest payments are eligible for tax deductions. Familiarize yourself with the tax implications of the loan. Prepayment Terms: Check if the lender allows prepayment without penalties. This can help you save on interest payments if you have the means to repay the loan early Higher interest rate of education loans for abroad:  While investing in education loans serves as a lifeline for many students aspiring to study overseas, the interest rates can vary significantly. Factors like the bank's policies, the applicant's credit history, and the loan type (secured or unsecured) play a role in determining the interest rate, exchange rate fluctuations, repayment challenges in foreign currency, and the global economic scenario. https://www.youtube.com/watch?v=TJ4qgFj46Uw Importance of selecting the right repayment plan Choosing the right repayment plan for your education loan is a critical decision that can significantly impact your financial well-being post-graduation. Financial institutions often offer various repayment options, such as fixed, variable, or income-based plans. Understanding the nuances of each plan and aligning it with your future income projections and financial goals can ensure a smoother repayment process and alleviate undue stress. Partnering with EduFund: Shaping a Bright Future for International Education Pursuing education abroad is a transformative experience that opens doors to academic and personal growth. However, the costs associated with international education and education loans for abroad studies can be daunting. Amidst this process, EduFund stands as a reliable partner, offering attractive interest rates and partnering with esteemed institutions to make the dream of studying abroad a reality. EduFund provides access to a range of loan providers, each with its own interest rate structures. Keeping in mind that lower interest rates can significantly reduce the long-term financial burden, applicants should strive to secure the best possible rate for their circumstances. With EduFund's support, students can embark on their educational journey confidently, knowing that their financial needs are well taken care of. FAQs Can I apply for a loan before receiving the admission offer? It's recommended to have an admission offer in hand before applying for a loan, as lenders often require it for processing. What's the typical loan repayment grace period after completing the course? What's the typical loan repayment grace period after completing the course? Does a good credit score essential for loan approval? While a good credit score can enhance your chances of approval, some lenders offer loans to students with co-applicants who have strong credit profiles. What happens if I'm unable to secure a job immediately after completing the course? Some lenders offer extended grace periods or flexible repayment options for students who face challenges in finding employment Can I get a loan for living expenses in addition to tuition fees? Some lenders do offer education loans that cover both tuition fees and living expenses. Check with the lender for specific terms. An education loan for abroad studies bridges the financial gap between your aspirations and the realization of international education. EduFund aims to help you bridge that gap by offering low and attractive interest rates on your education loan. EduFund connects you with India’s top lenders, helps you compare loan plans, and even get collateral-free education loans up to Rs. 1 crore!

The USA has emerged as a top destination for ambitious students, and for good reason! This blog explores ten compelling reasons why studying in the USA can be a transformative journey, opening doors to academic excellence, personal growth, and a bright future. 1. World-Class Education: The USA boasts some of the world's most prestigious universities, renowned for their exceptional faculty and rigorous academics. You'll find innovative programs designed to challenge and inspire across diverse disciplines, from engineering and medicine to humanities and business. Many universities prioritize cutting-edge research, offering students the opportunity to learn alongside leading minds in their fields. 2. Globally Recognized Degrees: A US degree is a passport to success. Recognized and respected by employers worldwide, a US education equips you with valuable knowledge and skills that will set you apart in the global job market. Whether you seek a career in India or internationally, a US degree opens doors to exciting opportunities. 3. Flexible Education System: Unlike rigid educational structures, US universities offer a refreshing level of flexibility. The credit system allows you to tailor your studies, choosing courses that align with your interests and career goals. This freedom to explore different fields before specializing allows you to discover your true passion. 4. Diverse and Inclusive Environment: US campuses are a melting pot of cultures, fostering a vibrant and inclusive learning environment. You'll have the opportunity to learn alongside international peers, broadening your perspective and developing valuable intercultural communication skills. This diverse environment prepares you to thrive in an increasingly globalized world. 5. Practical Learning Opportunities: US universities go beyond theory, offering a wealth of practical learning experiences. Internships, co-ops, and hands-on projects allow you to apply your knowledge in real-world settings. This practical experience enhances your resume and makes you a more competitive candidate for future jobs. 6. Cutting-Edge Technology and Resources: US universities are at the forefront of technological innovation. State-of-the-art facilities, advanced research labs, and access to cutting-edge software and equipment provide an unparalleled learning environment. Imagine conducting research in world-class facilities and having access to the latest technological advancements in your field! 7. Development of Life Skills: A US education is more than just academics. Universities cultivate essential life skills, fostering independence, critical thinking, and strong communication abilities. You'll learn to manage your time effectively, collaborate with diverse teams, and express yourself confidently. This holistic approach empowers you to succeed not just in academia, but also in your personal and professional life. 8. Vibrant Campus Life: Step beyond the classroom and immerse yourself in the rich tapestry of campus life. US universities offer a vast array of clubs, organizations, events, and activities catering to every interest. From sports and cultural clubs to student government and academic societies, you'll find opportunities to explore your passions, make lifelong friends, and contribute to a dynamic campus culture. 9. Scholarship and Financial Aid Options: Don't let financial concerns hold you back! Many US universities offer scholarships and financial aid programs specifically for international students. EduFund's expert advisors can help you navigate the financial aid process and explore scholarship opportunities to make your dream of studying in the USA a reality. 10. Post-Graduation Prospects: The Optional Practical Training (OPT) program allows international students to gain valuable work experience in the USA after graduation. This practical experience can strengthen your resume and enhance your career prospects. For some students, OPT can even lead to exciting job opportunities in the US after graduation. Wondering about how to finance your US education? Join our WhatsApp Community to know more! Embrace Your American Dream! Studying in the USA is an investment in your future, offering academic excellence, personal growth, and a chance to build a successful career. At EduFund, we're here to support you every step of the way. Contact our advisors today to explore your options and turn your dream of studying in the USA into a reality!

New Zealand is one of the ideal educational destinations for students pursuing their MBA degree as it offers a wide range of academic choices, MBA specializations, high-quality education, affordable fee structure, and sustainable job prospects.  An MBA in New Zealand is a wise career move as the globally recognized degree can get students the desired job in any part of the world. Moreover, graduating with an MBA from New Zealand may get your child a considerably higher income than their peers in other countries. Getting an education loan for MBA in New Zealand is easier than you think! Apply wth EduFund today Overview of MBA course structure and fees in New Zealand New Zealand is home to some of the finest educational institutions in the world for MBA courses. A full-time MBA requires 180 credits over 12 - 16 months or 60 credits every semester. Students can choose an MBA degree with or without specialization.  Average tuition fees for an MBA in New Zealand are between $26,000 - $37,000 with the highest course fee of $51,396 levied by the University of Canterbury and the lowest tuition fee of $36,800 levied by Manukau Institute of Technology.  The fee structure for an Indian student is between INR 11.4 lakhs to INR 31.3 Lakhs per year, depending upon the university one chooses.  The living expenses of the students depend upon their lifestyle. How to save for an MBA in New Zealand? Although studying for an MBA in New Zealand is affordable compared to the study cost in countries like the UK and the USA, parents do need to save and invest money so that their child can get the desired degree without the burden of an education loan.  Take the following steps to save for an MBA degree - 1. Research Remember the first step of any plan is the most difficult one as it requires thorough research. Gathering information is necessary so that you can create a foolproof plan that will prove fruitful in the long run.  you can also use the College Cost Calculator on the EduFund App to find out how much you will have to pay for your child’s MBA. This will help cut your research time.  Reasons to Study in New Zealand Read More 2. Create a financial plan Create a financial plan that will give direction to your ideas and encourage you to take the necessary steps toward your goal.  How to send your child to study in New Zealand debt-free? Read More 3. Take the help of professionals If you are a new investor, it might become a tad difficult or confusing to make the right decisions. Take the help of professionals because they have the necessary tools and resources to compile the required data and make the correct choices.  The saving experts on the Edufund App are adept at creating a customized financial plan and selecting the best investment opportunities through mutual funds, US ETFs, US stocks, and Digital gold. These experts, along with the Edufund investment calculators, will act as a guiding force and be with you every step of the way.   https://www.youtube.com/watch?v=uYlrsx9_yog&t=4s Top Universities in New Zealand Read More 4. Create a diversified portfolio Do not be dependent upon only one type of scheme. Instead, create a diversified portfolio that includes managed funds, savings accounts, term deposits, mutual funds, etc. The high-accuracy fund tracker on the Edufund App can monitor over one lakh data points and 400 financial situations to make solid suggestions about the most profitable investment schemes. a) Managed funds According to available data, one of the most common reasons for setting up a managed fund is to save money for a child’s higher education. It is feasible to put some money aside in a growth-oriented managed fund as early as possible. By the time the child is of age to study for an MBA in New Zealand, the parents will have saved a good chunk of the required money.  b) Savings accounts and term deposits If you cannot deal with the volatility of the growth fund or have started late and have a considerably shorter period for saving and investing, do not worry. The safest and the best possible mode of saving is by investing in a savings account and term deposits. It is better to add to the term deposits whenever they come up for renewal so that after a few years you can have a good amount of the money for your child’s MBA degree in New Zealand. c) Mutual funds The best investment scheme in the current market is investing through mutual funds. Take the help of SIP for regular investments as the estimated returns are between 12% to 15% in large-cap equity funds and 14% to 17% in mid-cap equities. The SIP calculator on the Edufund App can prove useful in determining the available returns from the chosen funds.  Conclusion International students, especially Indian students consider an MBA in New Zealand a good move as it gives them global exposure to cash in excellent career opportunities in any business sector.  Parents who have the necessary funds through saving and investing can easily send their child abroad and fulfill their dreams of better education, as compared to the parents who have to look at other means to fund their child's education. 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The intense education inflation and extremely higher fee structure leave little room for pursuing a higher degree course abroad at one’s expense. Students with genius brains cannot put their intellect to use due to the lack of appropriate funds.  At such times the Commonwealth Scholarship sponsored by Commonwealth Scholarship Commission (CSC) is a blessing in disguise for brilliant minds as it provides a much-deserved opportunity to boost their academic brilliance and skills. Apply for EduFund's Scholarships and make your dreams a reality! What is a Commonwealth scholarship? The Commonwealth Scholarship is a program initiated by the British government that provides fully-funded scholarships to deserving students residing within the Commonwealth countries. The scholarship program is funded by the UK Foreign, Commonwealth, and Development Office to attract talented individuals to UK universities and support sustainable development.   The Commonwealth Scholarship program is open to 800 students each year. The number keeps on increasing every year so that the CSC can make constructive changes on the global stage. Additional read: Questions to ask before sending a child to UK? Who can apply for a Commonwealth scholarship? A permanent resident or a citizen of a Commonwealth country. A refugee or a British-protected person. Students with an undergraduate honors degree of at least upper second class. Students applying for the Ph.D. program must have a Master’s degree. There is no minimum age for applying but the maximum age limit is 40 years.  For the academic year 2023, the CSC is accepting online applications from students of all majors. It has launched varied programs for both the Master's degree and Ph.D. levels for the students to choose from. How can you apply for the Commonwealth scholarship in the UK? The Commonwealth Scholarship Commission does not accept a direct application hence students can apply through the nominating bodies. These include government, non-governmental bodies, and charitable institutions.  Students have to visit the MHRD website and then the ECAS portal and apply to both before the stipulated deadlines. Additional read: Can your child do an MBA within 25 lakhs? List of documents required for the Commonwealth Scholarship in the UK Proof of citizenship. If the applicant is a refugee then the document that proves the refugee status. A full transcript with details of higher education qualifications. References of two persons should be submitted by the referee in the online application system. Supporting statement from the proposed supervisor in the UK.  Scan copy of the passport. A concise CV/resume Time to apply for Commonwealth scholarship 2024 The process for receiving applications is open between October to December and students should start checking on the official website even before the tentative dates.  Numerous programs under the Commonwealth Scholarships 2024 are open for applicants throughout the year hence interested students can log in to the website and find the timings for their preferred degree courses.   Funding by the Commonwealth Scholarship Commission and related benefits The Commonwealth Foundation provides grants of up to £200,000 (INR 18,464,000) to eligible students for four years as funding for the postgraduate degree courses. This is a fully-funded scholarship program by the UK government that covers all the expenses of the students. It includes Economy class airfare tickets for round trip. Transportation cost. Visa and travel fee. Medical expenses. Tuition fees. Textbook costs. Accommodation expenses. Allowance for woolen clothes during the winter season. Personal expenses - allowance of £1,133 (INR 104,599) per month and £1,190 (INR 109,860) per month for small cities and big cities respectively. The scholarship also covers family allowances if the couple stays for at least 18 months. It includes- Spouse allowance of £225 (INR 20,772) per month if the applicant and spouse are living together at the same address in the UK. Child allowance of £225 (INR 20,772) per month for the first child and £110 ( INR 10,155) per month for the second and third child under the age of 16 if the scholarship applicant is living with their spouse and children at the same address in the UK.  Child allowance of £450 (INR 41,544) per month for the first child and £110 (INR 10,155) per month for the second and third child under the age of 16 if the scholar is a single parent, divorced or widowed and is accompanied by the children and living at the same address in the UK.  Is the Commonwealth Scholarship enough to study in the UK? The Commonwealth Scholarship is enough to study in the UK as it is a fully funded program that covers both the study costs like tuition fees as well as related expenses. FAQs What is the commonwealth scholarship? The Commonwealth Scholarship is a program initiated by the British government that provides fully-funded scholarships to deserving students residing within the Commonwealth countries. The scholarship program is funded by the UK Foreign, Commonwealth, and Development Office to attract talented individuals to UK universities and support sustainable development. Conclusion The Commonwealth Scholarship is a golden chance for deserving students who are unable to study abroad just because of the lack of funds. The program offers opportunities to such students so that their dreams can come true. Consult an expert advisor to get the right plan TALK TO AN EXPERT

Primary education is the first step in your child’s education journey. It forms the bedrock of a child's educational journey, laying the groundwork for intellectual, emotional, and social development. Primary education typically starts from kindergarten (KG) to the upper primary level (Class 1 to Class 8). Kids are 5-6 years old when they enter primary school.In India, primary education is compulsory and plays a pivotal role in shaping young minds and fostering a love for learning that lasts a lifetime. In this article, we delve into the benefits of primary education, highlight some of the best primary schools in India that excel in providing it, and offer insights for Indian parents to prepare for the average costs! What is Primary Education? At its core, primary education encompasses the essential years when children embark on their formal educational journey. It introduces them to foundational concepts in subjects such as mathematics, languages, science, and social studies. Beyond academics, here are some benefits of primary education. Primary education promotes socialization, communication skills, critical thinking, problem-solving abilities, and creativity. It is a time when children develop their cognitive abilities, curiosity, and sense of self.During these formative years, children are introduced to the joy of learning, and educators play a pivotal role in fostering their natural inquisitiveness. Moreover, primary education paves the way for a smooth transition into higher education and equips children with the skills needed to face future academic challenges. Benefits of Primary Education Primary education is more than reading, writing, and learning maths. It’s more than playtime for your children. It is the stage in life where your child has the opportunity to develop socially and build communication skills. It is the first time in your child’s life that they are exploring the social world on their own. They are in a learning and nurturing environment that allows them to develop as an individual! Let’s delve into the 5 main benefits of primary education that make it extremely vital for your children: Foundation of Learning: Primary education establishes the foundation upon which subsequent learning is built. The skills and knowledge acquired during these years serve as building blocks for higher-level academic pursuits.Holistic Development: Beyond academics, primary education nurtures emotional intelligence, social skills, and character development. It helps children develop empathy, respect for others, and a sense of responsibility.Critical Thinking: Primary education encourages children to think critically and approach problems analytically. These skills empower them to make informed decisions throughout their lives.Language Skills: Language acquisition is a vital aspect of primary education. Proficiency in language facilitates communication, enhances cognitive abilities, and opens doors to various opportunities.Love for Learning: A positive early educational experience can cultivate a lifelong passion for learning. Children who enjoy their primary education are more likely to remain curious and engaged throughout their academic journey. Best Primary Schools for Primary Education in India with Average Costs India has the largest education system in the world and its home to thousands of primary schools that shows quality education. We have listed out some brilliant primary schools in India with their average fees to help you gauge the costs better. Primary school education is essential; it sets a strong foundation for your child’s growth. Let’s check out the listed primary schools in India The Shri Ram School, Delhi: Renowned for its child-centric approach, The Shri Ram School provides a nurturing environment for primary education. The school's innovative teaching methods focus on experiential learning and individualized attention, fostering well-rounded development. Average Annual Cost: Rs. 2,00,000 - Rs. 3,50,000. 1. Podar International School, Mumbai: With a commitment to holistic development, Podar International School offers a comprehensive primary education program. The school places a strong emphasis on character-building and values-based education. Average Annual Cost: Rs. 1,50,000 - Rs. 2,50,000. 2. DAV Public School, Chennai: DAV Public School is recognized for its balanced curriculum and dedicated faculty, making it a preferred choice for primary education. The school's holistic approach focuses on academic excellence, character development, and co-curricular activities. Average Annual Cost: Rs. 80,000 - Rs. 1,50,000. 3. The Heritage School, Kolkata: The Heritage School is known for its student-centered approach and experiential learning opportunities. The school's commitment to fostering creativity, critical thinking, and social responsibility makes it an ideal choice for primary education. Average Annual Cost: Rs. 1,50,000 - Rs. 2,00,000. 4. Delhi Public School, Bangalore: With a strong academic reputation, Delhi Public School offers a well-rounded primary education program. The school focuses on developing core skills, values, and a sense of global citizenship. Average Annual Cost: Rs. 1,00,000 - Rs. 1,80,000. Preparing for Primary Education Costs: A Parent's Guide As primary education is a significant investment in a child's future, parents should proactively plan for the associated costs. Here are some strategies to consider: Early Financial Planning: Begin financial planning for your child's education as early as possible. Explore education-specific investment options, such as mutual funds or education savings plans, to accumulate funds over time. The best way to save your child’s education is by investing in a mutual fund with EduFund. You can start a SIP for just Rs. 10,000 and potentially save up to 20 lakhs by the time your child is off to college! Start Investing Scholarship Opportunities: Research potential scholarships, grants, or financial aid offered by schools. Many institutions provide merit-based scholarships or assistance based on specific criteria. There are need-based scholarships provided by central and state governments in India to help students afford rising education fees. Scholarships are the best way to fund your child’s education but they are highly competitive as well Scholarship Opportunities Budgeting and Saving: Budgeting and saving are essential if you have kids. Education expenses are more than just tuition fees. From registration fees to uniforms and transport, there are many more expenses related to schooling. This is why it's important to create a detailed budget that includes tuition fees, textbooks, uniforms, extracurricular activities, and other miscellaneous expenses. Set aside a portion of your monthly income specifically for education-related costs.Comparison Shopping: Research and compare different schools' fee structures and offerings. Consider the value each school provides in terms of academics, extracurricular activities, and overall development. For instance, choose the school board and school location carefully. These categories can affect your child’s future as well as time. They also impact the total school fees you will be paying every year.Utilize Tax Benefits: In India, certain investments and expenses related to education may qualify for tax deductions. Consult a financial advisor to understand how you can leverage these benefits. Conclusion By choosing the right primary school and planning for the associated costs, you can provide your child with a strong foundation that will serve them well throughout their academic and personal endeavors. Plan your child’s education costs on the EduFund App, you can save for their big expenses like school fees and future college fees with the help of Mutual Funds and US Stocks! Talk to an Expert