EduFund Blogs

You worked hard on your grades, you had your extracurriculars in shape, and your college essay was edited and proofread. For all your preparation and planning, sometimes things just don't go right. Sometimes you get rejected. It is likely that you will experience at least a few rejections in your college application journey. How do you cope with rejections? What went wrong and what can you do to fix your mistakes? A rejection can put a big wrench in your study abroad plans. Here are some tips to deal with them.  Image by Andrea Piacquadio on Pexels Why was your college application rejected? There are many reasons why your college application may get rejected. Sometimes it may be because you just don’t meet the cut. College admissions are extremely competitive. Top universities are looking for the best GPAs and CVs when making their final decisions. You may be an extremely bright and brilliant student but your education plan likely does not account for the brilliance of your peers and competitors. This is why, when you are planning on studying abroad, it is important to apply to colleges whose requirements meet your qualifications.  Some other common reasons why your application may have gotten rejected are: You missed the deadlineThis is a relatively simple but shockingly common reason why your application may have gotten rejected. Colleges are dealing with vast numbers of applications. Any application that may have missed the deadline by even a few minutes may end up in the rejection bin.  Your application was incompleteIt is possible that your application was incomplete or didn’t include all the documents, information and other requirements requested by the college. This is common when you are applying to multiple colleges. You may end up missing or ignoring some specific or uncommon requirements made by particular universities. Your application was not edited properlyWhile it is understandable that college admissions can be extremely stressful, you should always take care to edit your application carefully. An application that is too long will be sent straight to the rejection bin because admissions committees do not have the time to go through long essays. If your essay is full of silly mistakes and typos, it reflects badly on you and such an application may again get rejected. Your application does not reflect why you are choosing that particular universityAdmissions committees do not just want to know what you are offering them, they also want to know what they are offering you. As an international student, you need to be clear on why you are applying to that particular university and why you want to study abroad.  Image by Anete Lusina on Pexels What can you do? The first thing you should do is review your application. See if you made any of the mistakes we mentioned above and take steps to fix them. One rejection should not derail your study abroad plans and you can ensure this by making sure you do not repeat the same mistakes. Apply to safe schools and backup colleges to make sure that even if you get rejected from your dream college, you still have someplace to rely on. Dream for the best but plan for the worst. Your education plan should have space for a Plan B. Pay attention to the guidelines and requirements of each college you apply to. Make separate folders for application materials and documents required for each college. Copy the guidelines and list of requirements of each college to a word document and save it in its respective folder. This way you can make sure that you do not miss anything or hand in an incomplete application. Image by Vlada Karpovich on Pexels Pay attention to deadlines. Mark each deadline on your calendar and place the calendar in a prominent place so you don’t forget any deadline or rush in to submit at the last minute. Also, remember to properly edit and proofread your applications. You can ask your parents, siblings or friends to help you with this. The second pair of eyes will be much better at catching mistakes.  1. Do not lose hope You must remember that while a rejection letter may seem like the end of the world, it is only an opportunity for re-evaluation and review. It is likely you had a meticulous education plan in place. This rejection is only an opportunity for you to re-evaluate those plans and see where you went wrong and what you can do differently.  Do not lose hope because there are always other schools. In fact, you may find that those other colleges are much better suited for you. The rejection could very well be an opportunity to look for a college that is a better fit for you.  Try not to obsess over your failure and the reasons thereof. Instead, take some time off. Spend time with friends and family. Engage in hobbies and activities that you are good at to remind yourself that you are valuable and capable. Rejections do not have to define you. Always remember to take your failures as a lesson rather than a judgment of your worth. A rejection may in fact encourage you to review your life and your plans and send you in a different, better-suited direction. Image by Prateek Katyal on Pexels 2. Advice for parents Even your best plans for your children’s education can go awry sometimes. It is important for you to remember that this is possibly taking an even bigger toll on your child. Make sure you do your best to be there for them during this difficult time. Comfort them and assure them that you are there for any help and support they may need. Try to distract them from the failure and remind them that after all, failures are the stepping stones to success. If possible, you can look into higher education counseling to offer further professional help and support for your child. Good counseling and guidance can help you and your child recognize what went wrong and be better prepared for future applications. Counseling can also help you reach out to your kids and offer comfort in the best way possible.  FAQs How do you deal with rejection from universities? There can be many reasons for dealing with rejection from universities, from incomplete application submissions to not making the cut-off for the course. The best way to deal with the rejection is to take a short-term course or hobby that will help you cultivate a better application for the next round. Find out what your application lacked, work towards strengthening your CV/resume, and try to focus on building a strong career. How do you mentally prepare yourself for rejection? Rejection is extremely common and happens to everyone. It is important to not let it get you down and focus on trying to improve yourself and work towards your strengths so that you can avoid this event in the future. You can opt for career counseling, take a gap year or even take up a job that can help you build a stronger application for your future. Is it normal to get rejected from college? It is normal to get rejection by colleges. Most colleges take in over 10,000 applications every year for one course from across the world. It can be cut-throat especially when the seats are limited and the competition is global. Try to keep your head up and apply to multiple universities so that you have a backup plan in place in case your best-case scenario does not plan out as planned. Conclusion Remember that failure is an important stepping stone to success. We all must suffer failure before we can achieve our dreams. The important part is to recognize your mistakes and shortcomings and use that knowledge to be better prepared next time. Do not let your failures define you and do not lose hope. Your study abroad dreams will come true - patience, perseverance, and hope are key!

Studying overseas does not just mean moving away from home to go to school elsewhere. It is an experience, overseas education can help broaden your mindset and add value to your life. It is the beginning of a series of changes that you are likely to experience as you move to study abroad. While things may seem uncertain in the beginning, don’t worry, because it only gets easier. In no time, you will find yourself surrounded by diverse people who think differently, speak different languages, and have unique skills. It is the beginning of self-discovery. Over time, you will likely begin to find that your mindset has broadened far beyond what it once was. Suddenly, you are not limited by the beliefs that you grew up with or the thought processes you had before.  This is just the beginning, the proverbial tip of the iceberg. 1. Coming out of your comfort zone Indeed, traveling to a foreign country does not just mean getting out of your country. Instead, it starts with you coming out of your comfort zone. There are plenty of things that go into preparing yourself to study abroad, and these all eventually contribute to you becoming a more well-rounded, capable adult in the long term.  Getting ready to move away, knowing that you will be leaving your friends and family behind for some time, while they cheer you on from afar - this itself can be a challenge. Nothing worth having comes easy. - Theodore Roosevelt Sure, it may seem uncertain and you may have plenty of doubts in your mind, but remember, you are about to embark on the journey of a lifetime. The experience will show you new things, expose you to a new way of thinking and reveal to you beauty that you could never have imagined. At the same time, there are plenty of new responsibilities and things to take care of. All of these things are about to contribute to you becoming a much more comprehensive and mature person in life. 2.  Living in a multicultural society When you move abroad to study, especially in countries like the USA, Australia, Canada, Europe, and New Zealand, you will find students of different backgrounds, cultures, and races from different parts of the world. Meeting individuals from different cultures and interacting with people from different origins is an excellent way to broaden your mindset. You will experience firsthand what makes other cultures great, and learn things from them that you would have never otherwise known about.  New languages, speech patterns, expressions, delicious food, and more are just some of the things you will get to enjoy when you study abroad that will greatly benefit you to develop a broader understanding of the world we live in. 3. Getting used to living Independently At home, it is easy to get used to having things done for you. Once you have moved out, it can be difficult at first to adjust to doing everything by yourself. This means managing your grocery shopping, laundry, cooking, household chores, and more before you even have a chance to sit down to study. Now while this may seem like a bad thing, the opposite is true in the long term.  The level of responsibility and independence you will experience is just what you need to develop the life skills that contribute to a well-rounded life. Finally, you can take control of your life completely, and the feeling it gives you can be exhilarating. 4. Experimenting and trying new things While it may be slightly more challenging to find the same food and kind of people that you are used to, that is not the point of studying overseas. Instead, you’d want to immerse yourself in the new and unfamiliar. This is the single most effective way to experience new things and broaden your horizons. Trying out new kinds of food from diverse cuisines, speaking to people from lesser-known cultures, and getting to know what life is like for them will give you a much deeper perspective on life.  You will find that many of the things we take for granted are in fact blessings that others might not be used to. All of these experiences will help you grow as a person and gain a greater appreciation for life and where you come from. You could soon find yourself in the company of greats who excelled in life after studying abroad. 5. Adapting to change Getting used to a new way of life is a big part of studying abroad. At first, moving to another country can be extremely difficult and intimidating. Students often have second thoughts just before leaving - about whether or not they want to go through with it. This is for good reason.  There is a good chance that it will be a while until you see your family and friends again, do the same things you are used to, and stay in your own house. Instead, you are likely to be looking for shared housing, trying to work out your daily routine, finding the bus route to your university, and much more. Since you are about to experience a whole new lifestyle, it can be easy to get overwhelmed by the sheer amount of changes that you will go through within the first few weeks.  Rest assured, you can get through it, just like everyone else eventually does. Once you get used to a new way of life, you can start to enjoy living it the way you want to. Especially in the start, it helps to build a strong group of friends that you can speak to whenever you feel low or unmotivated. Conclusion Studying abroad is one of the most exciting and challenging things young students can do in their lifetimes. Filled with new experiences, challenges, and triumphs, many students come out of the experience unrecognizable from when they first arrived.  Traveling to a new country, trying out new food, and studying under a different education system are just some of the things that you are about to go through. With that said, the best way to help you along your journey is to find a group of like-minded students who are going through the same thing that you are. Helping each other cope and thrive through challenges is a powerful way for you to build a strong support group in your new home away from home. No matter which country you choose to study in, you are sure to jump straight into a new world that would allow you to grow as a person, develop your personality, and broaden your mindset.  Our sincere advice would be to embrace the change, be excited to learn new things, and most of all, enjoy yourself along the way! FAQs What are the advantages and disadvantages of the overseas education system? The biggest advantages and disadvantages of overseas education are that helps you understand a new culture and allows you to enhance your learning. The sheer amount, of course, opportunities can help you build a global career. A huge disadvantage can be the financial aspect of studying abroad and feeling homesick. Why foreign education is better than in India? Foreign education can be better than Indian education in some areas. Especially in terms of STEM, where countries like the USA, UK, Germany, or Canada can offer students a better and more nuanced infrastructure for experimentation and discovery. Foreign education is also a gateway to living abroad for many students; it helps families move to different countries for settlement and permanent residency. What are the benefits of going abroad after the 12th? The greatest benefit of going abroad after the 12th is the chance to be independent and self-sufficient. Studying abroad means managing your own life, experiencing a new culture, and learning important lessons like budgeting, time management, and money management. It helps you grow as a person and take adulting to new heights. Consult an expert advisor to get the right plan TALK TO AN EXPERT

Why should you have an education fund dedicated to your child’s college education? Don’t you already have to worry about saving up for your home, your retirement, and any other emergency that may arise? With all these goals it might look daunting to have another fund for education as well. Is it such a big deal? Well yes, It is a very big deal! Here are the top 4 reasons why you need to start saving up for education, as soon as you can, even if your child is just 4 years old! 1. The cost of education will most likely jump (a lot!) education-cost-jump In India, the cost of education is increasing at a rate far higher than the inflation rate. According to a report by the National Sample Survey Office (NSSO) - between 2008 and 2014, the average annual private expenditure for general education (primary level to post graduation and above) shot up by a staggering 175 percent while during the same period, the annual cost of professional and technical education increased by 96 percent. ‍The expenses typically include course fees, books, transportation, coaching, and other related costs. A recent ASSOCHAM survey also reflected this trend -  parents are ending up spending almost 50% of their income on children’s education, today. Studying abroad provides more options to students compared to the highly competitive and increasingly expensive higher education landscape in India. However, getting admitted into a premier institute abroad requires students to shell out nothing less than a crore/per year, just for tuition fees. For e.g. Stanford’s tuition fee for its MBA program is USD 140000/year and which is more than one crore, considering the currency rates that are prevalent now. Even if you factor in an inflation rate of just 10%, it's going to cost double the amount to send your child to college, say 15 years later, than what it costs today. Whichever destination you might choose to send your child to college, the money that you are going to spend, just on tuition fees, will be very high. 2. To avoid dipping into your retirement corpus! retirement-corpus It is more prudent to maintain separate funds for your savings and your child’s education. ‍This is due to the simple reason that no one is going to give you a loan to take care of your expenses post-retirement. While your child may get a loan that will fund his/ her education expenses, you need to make sure that you and your spouse, are not dependent on one post your retirement. Hence, EduFund comes to the rescue! 3. Let your child be debt-free! Education loans are easily available from banks and other financial institutions and are attractive to many students who are not able to afford higher education – especially abroad. But then again, education loans are termed at extremely high-interest rates, not to mention the collaterals attached to them. In this scenario, having an education fund will help. Your child will not start her career with a debt burden hanging over her choice of job. And with the growing uncertainty in jobs due to the current global economic slowdown, there is no job security that assures steady income to pay off an education loan. 4. The Competition is just going to increase! The competition to get into the best colleges, foreign or Indian, has always been high. We all know the importance of studying well to get into the best colleges. But the increasing population and increasing enrolment in higher education have ensured that what was possible to achieve with 80% marks in the year 2000, now requires at least 95% marks. And, there are more people competing for the same number of seats. So, getting into one’s college of choice on merit alone or with a scholarship is going to be much more difficult than it was. In fact, parents are now having to prepare to handle competition even for KG admissions for toddlers. Many of them start planning right at child-birth on which school their child should go to. So, start planning now! When you start early, you have the freedom of choice in college as you don’t have to worry about the cost of college. Having a corpus fund for education to draw from when the time arises is imperative to ensure a good education and a good career for your child. And even if your child’s choice of career changes as time passes, you can adapt and be ready with the funds, when required. FAQs What is EduFund? EduFund is an investment app dedicated to helping Indian parents save, invest and plan for their child's education needs. How can EduFund help you? EduFund can help you invest, save and plan for your child's education needs. It allows you to customize your plan, and invest in tools like mutual funds, US stocks, ETFs, and digital gold to diversify your investments. It sets long-term and short-term goals for parents and children to save up time and help them achieve their goals. EduFund also helps you with education loans and connects you with the best loan partners in India and USA. How can you set up an account with EduFund? You can download the App from Play Store or apple store and set up your account free of cost. All you need is a bank account, an Aadhar, and a pan card to open your account and start investing in mutual funds. Conclusion We live in a world that is marred with competition, whether it's getting into a good college, or choosing the right investment instrument, being prepared for the future equips you to handle things better. The stability of having a corpus and not being dependent on an education loan is a reassuring move for your child to choose his/ her dream college. An EduFund may seem a far-off thing today, but it is a necessity for the future. Plan, invest, and educate!

Choosing the right career path is difficult especially if you are looking at non-traditional career options. It is also hard to make sure you and your parents are on the same page about your career path. Especially, if your dream job is a little offbeat. Parents want nice, safe careers for their kids that offer maximum job security and chances of success. You may not want the same things as your parents and that is okay. But to bring them to your side, you will need a plan. The right conversations and the right counseling can make all the difference between endless arguments and unconditional support. Here’s what you need to do! Plan your education and career Before you embark on your dream career, you need to get your dream degree and for that, you need a plan.  You can create a document or presentation titled ‘Education Plan’ or ‘Career Plan’ to show your parents that you have given this thought and effort. The reason why most parents are scared of their children choosing unconventional careers and degrees is that these careers are not always reliable. They may not be as well-paying or as secure as traditional career paths. You need to lay those doubts to rest!  The best way to do this is to let your parents know that you have considered the risks yourself and have a clear plan of action in place. This includes having a clear idea of what kind of degree you want and where you can get with this degree. Be flexible Most undergraduate-level degrees give you access to a wide range of job opportunities. You may have your heart set on a specific dream job, but you need to let your parents know that you have backups in place. Include the varieties of jobs you hope to secure with the degree you are choosing in your Education Plan.   Also, make a list of your dream colleges. You will need to do thorough research to figure out which colleges are the best fit for you. Decide whether you want to stay in India or study abroad. You should also find out what kinds of jobs the alumni from your prospective colleges have secured. You can even try and get in touch with these alumni to see if they can give you some career advice.  Figure out and tell your parents about the kinds of internships you intend to take while in college and the kind of projects and extracurriculars you plan to pad your CV with.  With a meticulous plan in place, your parents will be able to trust and support you in your ambitions. Funding your education You may not have figured out where the funding for your education will come from and that is okay. You are young and have probably never had to think seriously about financial matters before this. Your education is going to be the most profitable financial investment of your life and your parents probably already have plans in place. If you haven’t communicated with your parents about your career goals, then their plans and your dreams may not exactly align. This is why while you are researching careers and degrees, you should also research fundraising for education.  There is more than one way to finance your education There are many ways of funding your education. Tuition fees differ depending on whether you plan to study in India or study abroad. Different countries have different college fee structures. Scholarships and Fee Waivers are one way to fund, but there is no guarantee of always receiving them. A very common way of raising education funds in India is Education Loans. These loans can be secured through banks or other financial institutions like EduFund. If an education loan is the best way for you to secure your funding, you should thoroughly acquaint yourself with them. It is important to understand the exact terms of the loan and the payment plans set forth by the bank or financial institution providing the loan. You could also use an Education Loan Calculator to figure out the specifics of how much funds you can raise through loans and how much you will have to pay back. Usually, you start paying back an education loan after you graduate. Get education counseling and guidance Never underestimate the difference a good education counselor can make. Counselors are well-versed in the intricacies of career and education planning. They can help you understand the details of how to apply for universities and entrance exams and how to prepare for them. They can also act as a mediator between you and your parents if they are not very supportive or comfortable with your career choice. Your school might already provide counseling services that you can avail of. If that is not the case you can look for education counseling for students online. Free counseling services are sometimes available, some counselors offer an initial free session so that you can figure out if their services are suitable for you.  The counseling is for guiding both you and your parents. Students have big dreams but often don’t take practical considerations in mind. Meanwhile, parents look out for their children and want the best for them, but even their best plans for their child’s education may not always align with their children’s dreams. Good counseling can help bridge these gaps. It can provide you with some much-needed and helpful perspective when it comes to the practical side of career and education planning. It can also help you communicate better with your parents and make them more supportive of your dreams.  What happens next? So, you have an education plan in place, you have secured funds and you have undertaken to counsel. But, what comes next? After all, a degree is only the beginning. But what happens once you have secured admission? Well, something a lot of students with grand education plans don’t consider is - the need for flexibility. While having a dream job and being passionate about it is important, it is also good to be adaptable. Once you actually start your degree and start talking to your teachers, peers, and seniors, you may realize that your dream job is not ideal for you. You also may develop different interests or discover new and exciting, alternative career avenues that you had not considered earlier.  It is important that you keep your eyes and ears open for alternative careers and backups while working towards your dreams. Keeping your career options and CV diverse is very wise and ensures that you don’t end up ‘stuck’ in a dead-end career or a job that no longer fulfills you. Most undergraduate degrees offer skillsets that are usually widely applicable. Be aware of the applicability of your skills in different professions and make smart career decisions.  FAQs What are some non-traditional career options for children? Here are some non-traditional career options for children that are lucrative and in demand such as - Veterinarian YouTuber/Social media personality Data analyst/scientist Dietician UI/UX designer How does career counseling help children? Career counseling helps children decide what they can do in the future. It helps them align their interest and aptitudes. It is the best tool to help your child determine what careers are most suitable for them and can give them an opportunity to use their unique skills. Consult the best education counselor right here - click now! What is the best way to finance your child's non-traditional career? The best way to finance your child's higher education is through investments. Investments like mutual funds, stocks, and ETFs can help you keep up with the growing prices of colleges and education in general. You can also opt for education loans that offer attractive interest rates.

A student loan is likely the first step many students take towards financial independence, and just as with other loan applications, lenders will look into your credit score when considering your application for an education loan. To determine a student's capacity to repay an education loan, lenders investigate their creditworthiness. In this blog, we will discuss the impact of your credit score on your ability to get approved for an abroad education loan and tips for improving your credit score. Importance of credit score for abroad education loan When you apply for an education loan, a lender will check your credit score; this goes for both co-borrowers and students. When applying for an education loan, a student's credit score may be crucial, but if they don't have one, the lender will base their loan conditions on the credit ratings of their co-borrowers. A student's chances of getting financial help might be improved by meeting the lender's other qualifying standards and having a high credit score: a lower interest rate a lender approval that comes more quickly a larger loan sum for schooling an increased credit limit  a lengthier term https://www.youtube.com/watch?v=4gTQkdePOWM How is the credit score calculated? Every time a person contacts a bank or other financial institution for a loan of any type, the bank or financial institution will request the CIR (Credit Information Report), which is the person's unique credit history from credit. Their credit history determines their credit score, which ranges from 300 (Worst) to 900. (Best). It is unimportant to be concerned if you haven't applied for any loans yet because your credit score will always be negative or zero. The credit score is primarily based on four factors: Repayment history - One's regularity, consistency with prior EMI payments, and other factors. A mix of loans - Several loan kinds (secured and unsecured) they have previously obtained. Credit limit - use of the credit card's or any other credit line's credit limit. Multiple loans at one time - the frequency with which they've requested or applied for loans recently. How to compare education loans? READ MORE How your credit score impacts your student loan? If you're wondering if taking out a student loan would affect your credit score, the answer is yes. Education loans, like other loans, affect your credit score if they are returned on time; if they are paid late, your score may be negatively impacted. The bulk of student loans is repaid in installments over a defined period of time. You begin to establish a history as a result of the lender reporting this to credit reporting companies. When you pay your bills on time, you'll begin establishing a solid track record for handling credit. Nonetheless, the following credit score levels are suggested for students wishing to get an educational loan to study abroad: RangeLoan Probability300-599If your credit rating is at this level, you should carefully review your financial records and concentrate on any pressing problems that could be the root of your low rating. Your chances of being approved for an education loan are decreased since financial institutions frequently see credit scores of less than 600 as being exceptionally bad.600-749Those with credit scores in this range are still qualified for student loans. Yet, the majority of banks and NBFCs are quite picky about loan applicants achieving the minimal credit score standards for education loans. 750 and aboveA credit score of 750 or above is required to be eligible for an education loan. This credit score may be used by lenders to determine the financial dependability of co-applicants and individual applicants. Tips for improving credit score The following are possible causes of your low credit score as well as suggestions for how to raise it: Overuse of credit limit: Using your whole credit limit is a sign that you lack self-control when it comes to spending. Try to keep your balance between 30 and 50 percent of your total credit limit. You'll use credit less as a result, improving your credit score. Late and failed payments: Your credit score declines if you often skip or postpone loans or credit installments. Set up reminders to pay back all borrowed money on time; this will help you build credit and get better loan conditions in the future. Rejected loan requests: Wait before submitting an application for a new loan if your previous one was rejected. When your credit score declines with each loan denial, there will be a higher chance of a fresh loan denial in such situations. Improve your credit score as a top priority to be eligible for loans. You can then file a loan application with better conditions after doing this. Be aware that the procedure can be lengthy, and loan approval can be quite difficult if you have low credit, but you may still be able to receive any other loan because the banks will keep the collateral as security until you have paid the whole loan amount plus interest. Also, it's possible that you'll only be given unfavorable loan terms and circumstances. Some of them might have greater interest rates or longer payback schedules. Consult an expert advisor to get the right plan TALK TO AN EXPERT

It is universally acknowledged that education is a very powerful weapon. Education can transform an individual and colleges can broaden a child’s horizon. Every child deserves to receive a quality education. There are various reasons why global education is the best for Indian students. ‍From our experiences, we know that when a student receives a world-class education, it helps them become their best version – professionally and personally. Pursuing higher education outside of India seems to be promising in more ways than one. In this blog we will talk about how studying abroad can affect your life for the better. Let's get started. 5 Reasons why Global Education is the best for Indian Students When you think about it, there are innumerable ways in which a global education can benefit an Indian student. In this article, we will talk about the 5 major ones. Let's get started. 1. Changes Your Life, for Good! International exposure to study at a foreign university and the experience of living in a new country can be life-changing! The combined power of both results in gaining practical knowledge that can help you in life immensely. Living alone in a foreign country can be daunting in the beginning, but it teaches you an immense number of values, and ethics, and not to mention, you become a pro chef! You learn what is not written in the textbooks. Such experiences also shape your personality and groom you as a responsible professional. 2. Holistic And not just Academic Development The Indian education system offers academic rigor. However, there still is room for improvement and development. The cut-offs in premier Indian colleges soar to touch the sky. But whether these colleges provide excellent holistic development is still a big question mark. Regardless of the foreign country you prefer to study in, most global universities focus on not just academics, but also professional qualifications, leadership, and personal development. Foreign programs have gained popularity because the faculty is invested in a student's all-around growth. 3. Opens closed doors Whether it is studying for a master's abroad or Ph.D. – foreign universities offer what you commonly don’t find in India. An array of courses across all fields and subjects like - Artificial Intelligence and Data Security or Criminology, and Media Relations. You name it and they have it. As per reports released by the USIEF, in 2019, Indians studying in the U.S. made up 17% of the international student population there. If you want to take the road less traveled or pursue a career in a highly-specialized niche, global education opens closed doors. 4. Brighter Career Prospects ‍Indian students who have received good foreign education have an edge over others. You wonder why? Recruiters view international experience as an asset. It is reflective of many things like your skills to compete in a global setting and your ability to adapt to diverse cultures. Global education helps you hone your skills and grow exponentially. ‍After completing their degree, outstanding students can bag an international job as well. 5. Diversity They appreciate unique students. Many top-notch B-schools and other universities seek to promote diversity and inclusion. This means that the admissions team deliberately tries to encourage people from different walks of life to join the classroom. Highly reputed universities welcome meritorious international students. Some even try to strike a balance in their gender ratio thereby including talented girls and giving them an equal chance to fly. As the saying goes- "Sometimes the smallest step in the right direction ends up being the biggest step of your life!" Take the first step towards a brighter future. And, live the life of your dreams! FAQs Why is global learning important for students?   International exposure gained while studying at a foreign university and the experience of living in a new country can be life-changing! The combined power of both results in gaining practical knowledge that can help you immensely in life.  What is the value of global learning?   ‍Indian students who have received good foreign education have the edge over others. You wonder why? Recruiters view the international experience as an asset. It is reflective of many things, like your skills to compete in a global setting and your ability to adapt to diverse cultures. International education helps you hone your skills and grow exponentially.  Why foreign education is better than Indian education?   They appreciate unique students. Many top-notch B-schools and other universities seek to promote diversity and inclusion. This means that the admissions team deliberately encourages people from different walks of life to join the classroom. Highly reputed universities welcome deserving international students.    Why do Indians prefer foreign education?   Indian students prefer foreign education because of many factors. Studying at an international university will give students great exposure in terms of meeting people from different cultures and countries. It will also create excellent employment opportunities abroad. Having studied at a foreign university will add value to a student’s resume.   Conclusion These are some of the major reasons why global education molds an individual for the better. In reality, there are many more points that one can consider. Whether it is the quality of education- or the experiences one attains, education abroad is a stepping stone toward untapped opportunities. We know many of us are now thinking, "What about the fund required to study abroad?". Well saving up for higher education is not as hard as you think. If you start saving early, you can create an education fund that can support your dreams of studying abroad.

College applications and admissions season is a stressful time for both students and their parents. Your son or daughter may still be a child but they are embarking on their biggest adventure yet! It makes sense to be afraid and worried. It doesn’t help that your child is likely in their angsty, rebellious teenager phase and may not be willing to listen all the time. So, how do you support your child anyway? How to make sure that they know you are there for them without suffocating them?  Well, here are some ways. Photo by Zen Chung on Pexels 1. Plan for your child This is your child’s first time stepping into the real world and making big decisions. As a parent, you should try your best to make sure that their path is as smooth as possible. It is likely that you already have education plans in place, and you might also have made investments in your child’s education. These investment and education plans are important since they are the first step to ensuring your child gets his or her dream career. You should learn more and acquaint yourself with ways of saving up for your child’s future.  Besides financial planning, you should also research colleges and universities that would be the best fit for your child. This is something you should do together with your child. Find out what kind of career your child wants and research degrees and educational institutions that are the best fit. Narrow down a list of universities, colleges, and degrees as well as future job prospects. You should also make a list of the pros and cons of all of them.  You should prioritize your son or daughter and their opinions and ambitions when doing this. It is important to remember that this planning is for the benefit of your child. Their dreams should take priority over your expectations. At the same time, you should offer advice, counseling, and guidance to ensure they follow their passions while also remaining pragmatic about their career options.  2. Empower your children A big part of supportive parenting is empowering your children to become self-sufficient. It can be daunting and even scary to see your children leaving the nest and your guidance. You need to remember that your children becoming independent and leaving your supervision is the end goal of all good parenting. If your children are leaving the country to study abroad, then it becomes even more important for you to actively try and empower them in every way. Photo by Rodnae Productions on Pexels A very easy way in which you can empower your child is by encouraging them to do their own research and make their own decisions. Ask them to come up with their own education plan, and encourage them to email universities and admissions officers for more information on the institution and curriculum. Talk to them about what they want to do and how they plan to do it. Guide them but let them take care of their own responsibilities. Trust your children and subtly guide them instead of being helicopter parents. 3. Listen to your child “Children are meant to be seen and not heard” was the maxim during the Victorian age but times have changed. You cannot hope to have the same attitude towards your child, especially now that they are starting their adult life. It can be hard to see your 17 or 18-year-old as a full adult just yet but rest assured, this is where it all begins Often times parents let their expectations and dream take the center stage when it comes to their child’s life. You must avoid doing that. And for that, it is important to listen to your child. Don’t just talk at them, when it comes to their education and career, you must learn to talk to them.  It can be helpful at this stage to talk to an education and guidance counselor. Counseling can be a good way of communicating with your child and finding out what they really want to do. A good counselor can act as a mediator between you and your child and help bridge any gaps between you. If your child is unsure and hesitant about what to do next, counseling can help them figure things out. If you are unsure about whether to find a good counselor in your city, then you can look into higher education counseling online. 4. Engage in extra-curricular activities with your child Extra-curricular activities are not just a wonderful addition to any CV, they are also important for the overall development and happiness of an individual.  Image by Rodnae Productions on Pexels While it is convenient to see these activities as simply a means of padding your CV for your study abroad plans, that is not all they are. Extra-curricular activities are meant to be a means for you to relax and have interests beyond just academics. They are meant to help you escape the rat race.  Do not pressure your children to take up activities solely to impress foreign universities. Rather find activities in which you and your child can both engage together. This can help you maintain your bond and also release pressure during this incredibly stressful time. 5. Be transparent You should support your children in every way possible but you should also be transparent with them. If there is some limitation to your capacity to help them, they should know about it. If you are unsure that the career path they are choosing will be sustainable or capable of offering stable income and job security to your child, then you should share those doubts. You are after all the adult here, you have experience and you should share that experience with your child. Don’t be afraid of telling them harsh truths, but also be willing to change your mind.  Let your child know that if they can prove to you the long-term sustainability of their career goals, you will be willing to support them all the way. You should also be open and frank with them about finances. Tell them how you are planning to fund their education, whether it is through savings or an education loan. This is a big investment you are making in your child’s future, make sure you are transparent about the nature of this investment. Also, let them know if you have any budgetary constraints and about universities or courses you cannot afford.  Being transparent and honest about your thoughts as a parent is helpful. FAQs How to support your child through college applications? Here are some steps to support your child through college applications: Help them select and shortlist the colleges Check the deadlines for all the colleges and make sure you submit all the documents before the deadline Check the requirements for different colleges such as some colleges require IELTS, GMAT, GRE, etc. How to make your child's college application stand out? The best way to get a unique college application is to have extracurricular or develop a unique hobby. Having a background in social work also helps. Try to look for activities that resonate with your potential course to show the admission office that there is a link between your academic journey and extracurricular. How to start your college application? The first step in starting your college application is to check the requirements and the deadline after shortlisting your colleges. Conclusion Being a good, supportive parent during college admissions season is mostly about trust and communication. You and your child will both need to trust each other’s intentions and talk openly about all your doubts, hopes, and dreams. Remember that college is only the start of a much bigger adventure and you will need to be strong and communicative as a family to make the most of it!

With the value of a foreign education increasing by the day, education loans for paying college tuition fees have become very common and easy to avail too. ‍Education loan disbursals from banks and various financial institutions to Indian students, studying in India and abroad increased to 92,711 Crores this year from 90,345 Crores last year. ‍However, this data hides an important issue – the number of students who are not paying their education loans back has also been increasing. Banks have reported 7-9% of loans as bad loans over the past few years, by Indian students studying in India and abroad. Such a high amount of non-repayment is being attributed to a general economic slowdown, changes in immigration policies by various countries, and a supply-demand mismatch in the candidate's skills and jobs available. Not repaying an education loan can get students into many problems and we are not talking about only the legal issues. ‍Here are some quotes from students who have completed their education and are now struggling to pay off their loans. While education loans have been the answer for many Indian middle-class families to pursue their dream education since they are easily available from banks and other financial institutions. However, they are not the best solution. Is taking an education loan a good idea? The rising cost of education has made taking loans to be a decision fraught with concerns. Even payment for an average school abroad can set you back by 40-50 lakhs if you include your cost of living in that country. Quite a few colleges in India have become very expensive over the years. This is quite obvious considering that college tuition fees have seen a steep rise compared to anything else – be it homes, vehicles, or computers – adjusting to inflation that happens in prices year on year. And this is when salaries/wages have seen only a nominal increase. Scholarships and grants are another way that allows students to afford expensive education. However, the sheer number of students who are aspiring to study in a young country like India makes it a formidable task to be eligible for a scholarship. With loans being the only option in many cases to achieve a good education, fresh graduates are taking up jobs that do not match their skillset and with less promise, because good jobs are not on offer. The job of their dreams can wait while the loan is repaid first. The huge EMI also makes them less eager to spend on a house and postpone many important purchase decisions. So how do we make education accessible to a vast number of students without them staring at a huge debt burden after graduating? https://www.youtube.com/watch?v=4gTQkdePOWM ‍What's the solution?‍ A little bit of planning, a few years before the time comes to apply for colleges is all it takes to not get into the system of loans. Put away savings for education that you can use to pay for college. These savings should be such that the money grows, while your child grows. While education goals may vary as your child grows and his/her interests change, the fact that he needs a good education will not change. What do you do in this case? ‍There are apps like EduFund that allow you to plan for your child based on future goals. We have the expertise that can help you in understanding the financial goals you need to set, to send your child to a prestigious college abroad or in India. Our college savings calculator is comprehensive and includes tuition and staying expenses in a particular city too. Investing in SIP mutual funds is recommended to ensure good returns in the long term. So, starting early adds a lot of value to your fund. FAQs Is taking an education loan a good idea? Education loan is a great choice for Indian students who wish to study abroad but it's important to do your research before you avail of one. There are interest rates that students must consider and the process of repayment. One must research whether the course is covered by the loan or not, if your bank is offering a low-interest rate, how much loan coverage should you opt for, and the ROI of your course. Can you study abroad without an education loan? Yes, it is possible to study abroad without an education loan. You can apply for scholarships, borrow money from your parents or use an education fund if your parents have started one for you. If you are planning to go abroad for a master's or MBA then you can start saving and investing for your education as well. To keep up with the living expenses, you can opt for a part-time job as well if your student visa permits it. What are some good alternatives to education loans? If you have a time horizon of 10-15 years, then considering mutual funds and investing in US stocks and ETFs is a great alternative. This option is brilliant for parents with children between the ages of 3-10 years. Conclusion Before you start planning for your child's education, you must have a specific goal. And an education fund is paramount to reaching those goals With this education = corpus, you can ensure that your child doesn’t start his/ her future career with the worry of paying back a loan. And that will be the biggest present you can gift your child, the gift of education! ‍Consult an expert advisor to get the right plan TALK TO AN EXPERT

Global education at an affordable cost, a wealth of career opportunities, and an amazing quality of life. There are no two ways about it Canada is one of the best destinations to study abroad, for Indian students. About 25% of immigrants from India call Canada their ‘home’. In 2019, India ranked on the list for being the main source country of new immigrants to Canada. Quality education for all Education in Canada is greatly valued. And even that is an understatement! The country spends about 5.3% of its GDP on education. Four Canadian universities consistently rank in the top 100 Universities of the world. Some of the top Universities in Canada include: University of Toronto University of British Columbia McGill University McMaster University According to Forbes, the number of Indian students studying in Canada shot up to a whopping 127%. Studying in Canada for Indian students has proven to be an excellent option given that Canada leads innovation in science and research. Remember, when you study in Canada your degree is recognized all over the world. ‍Affordability is key in Canada Studying abroad is an expensive affair. But the education system in Canada is cheaper than most others. Is it possible for a middle-class Indian student to make it to the top universities in Canada? Yes. The cost to study in Canada is lower than the foreign Universities located in the U.S. or U.K. Additionally, there are several ways to fulfill your dream of studying in Canada.  This leads us to the next point... https://www.youtube.com/shorts/MwclWJ8Q2ZE You can earn while you learn! The study permit in Canada is designed in such a way that Indian students (or any international student) can work for up to 20 hours every week. The icing on the cake? During the summer and winter break, you can work full-time too! Without many struggles, one can easily find many part-time opportunities. Students are remunerated fairly on an hourly basis. This way, you can earn some pocket money and be independent. https://www.youtube.com/shorts/k8c_dfmXMkA ‍Home away from home! If you are worried about being miles away from home and missing your culture, then stop right there! A significant population of Canadians is of Indian heritage. About 1.4 million to be precise. Time and again, Canada has been ranked as one of the best countries in the world to live in. Known for its multiculturalism, this country has so much to offer to Indian students. In fact, there are several communities formed by Indians staying abroad to help and support newcomers. You can feel safe here and embrace your desi roots. Immigration and amazing job opportunities The point-based system for work permits and citizenship is known to work in favor of Indians. The immigration policies of Canada make it possible for Indian students to get the best education, exposure, and job opportunities after graduation. The transition from University to Work is easy for international students. The degree you earn there comes with a plethora of job opportunities. Not sure which University or course in Canada is the right option for you? FAQs Is Canada good for Indian students to study? Canada is a great destination for Indian students to study abroad. Its universities are consistently ranked high by popular indices across subjects, it is international student friendly and has many policies like 2 year work permit and part-time work opportunities for students. It is also considered a affordable alternative to US and UK. Why Canada is the best study abroad destination? Canada is considered the best study abroad destination for the following reasons: Top universities like University of Toronto, Ottawa and Calgary. Best student friendly environment for learning and living Affordable for international students across the globe Opportunities to work and live in the country for international students What are the most popular universities in Canada for Indian students? Here are the most popular universities in Canada - University of Toronto University of British Columbia McGill University McMaster University University of Calgary Consult an expert advisor to get the right plan TALK TO AN EXPERT

Investing in your child's education is vital because education is no longer cheap! Many Indian parents dream of sending their children to a university abroad. While studying abroad is aspirational and can help secure a bright future for their child, what many parents do not realize is the cost associated with it. Nor do they understand the difficulties of managing these costs. Education is becoming expensive. In the United States, the average annual cost of university tuition is $40,000 (29 lakhs) and is expected to increase by 3-5% per year.  To add to the tension, Indian parents have to worry about rupee depreciation while making foreign exchange transactions into dollars. How are parents meeting their corpus? The decision to send your child abroad is something that can change the course of your financial future. Sadly, most Indian parents are facing the negative impact of their child’s higher education on their finances by choosing riskier options for funding. Today, the average Indian parent funds their child's education by Taking loans Cashing in their retirement Selling real estate 1. Loans Because education is so expensive, most parents choose to fund higher education through loans. In FY19, the total amount of loans disbursed was Rs 22,550 crore. But the silent killer with loans is the interest. Education loans in India aren’t cheap and can come with interest as high as 14.5% and a 7-15 year tenure. And while students studying at prestigious foreign universities can opt to pay lower interest on loans offered by their institutions, they are still paying off these loans in dollars. CHECK LOAN ELIGIBILITY 2. The default zone In theory, taking out loans and later paying EMIs seems easy. But, data shows that the national default rate of education loans (NPA) is incredibly high-10%. This is worrisome for two reasons. First, it could have a severe negative impact on you or your child’s credit score, making it harder to get loans in the future. Second, as default rates continue to increase, private institutions, such as banks, will continue to increase the interest rate on education loans.  In other words, it’s a big negative cycle. 3. Earning interest, not paying it. There’s a simple solution to avoiding the potential headache that comes with loans- planning ahead. If parents start to save for their child’s education immediately after their birth, that’s anywhere between 18-21 years of savings. With foreign education, however, savings alone may not be enough. Investing these savings can generate enough interest over time to pay for a sizeable amount, if not all, of your child’s tuition. Investing in what? Mutual funds can be a wise choice for investment because of compounding. Compounding simply means that you earn interest on your savings, and that interest then earns interest on itself. Because of this, mutual funds have a strong history of generating returns anywhere between 6%-15%. For example, INR 1,000 invested in a fund that earns 15% interest can help you save up to 15 lakhs over 20 years. That’s the power of compounding. And, if you’re worried about taking risks, you can rest assured that there are ways to match your appetite for risk with the right mutual fund, and still earn enough to help secure your child’s education. But the most important factor when it comes to investing in your child’s education is starting ahead of time. Each day counts. FAQs Why should you invest in your child's education? The biggest reason why you should invest in your child's education is the rising cost and education inflation. In the past few years, the cost of education abroad and in India has been increasing tremendously. From high tuition fees to increasing cost of living for students, education is becoming expensive with time and the best way to keep up is to revitalize your savings and investment strategy by investing in a high-growth instrument that helps beat inflation in the education sector. When should I start saving for my child's education? Starting when your child is a newborn is the best time to invest and save for your child's education. This gives you a time horizon of 10 -15 years to save and invest in your higher education. Should you save for your child's education? Yes, saving and investing in your child's education is a huge parental responsibility. It has tremendous benefits like securing your child's future, helping your child and you avoid debt as the cost of education increases every year, it helps you maintain financial stability and it gives your child the opportunity to explore any career and college they hope to study at.

Families who want their children to pursue higher studies and are unable to make ends meet are on the lookout for an education loan without collateral in India.  It is no longer easy to secure an education loan as students have to meet a strict set of criteria to become eligible for the loan. Most loan applications get rejected midway in the absence of a collateral or third-party guarantee.  Education is a blessing that can break the shackles of poverty, but how to get a loan when you do not have any property, fixed deposits, land, bonds, insurance policies, or shares to pledge as collateral is a worry for most of the middle-class households in India.  In most cases, financial institutions or private moneylenders ask for collateral as a security pledge in case of loan default so that they can recover their money in adverse conditions by selling the collateral property. Without the collateral, most banks, NBFCs, or even private lenders hesitate to sanction an education loan with a limit that exceeds INR 7.5 lakhs as the chance of default is very high.  Let us look at the institutions from where applicants can get an education loan without collateral. What is a Non-Collateral or an Education Loan without Collateral? Non-Collateral or an education loan without collateral is a type of education loan where the loan applicant can get the loan amount without pledging security against it. In the case of a non-collateral loan, the borrower has to meet specific criteria that the loan authority has set. These criteria can be country-specific, a particular study program, or a minimum loan amount. https://www.youtube.com/watch?v=4gTQkdePOWM Where can you get an Education Loan without collateral? 1. CGFEL The Credit Guarantee Fund for Education Loans, or CGFEL, is a scheme that can help loan applicants to get a collateral-free education loan from a financial institution. The scheme comes under the Model Education Loan Scheme of IBA or the Indian Banks Association.  Under the CGFEL scheme, students can get an education loan of INR 10 lakhs for studying in India and INR 20 lakhs for studying abroad through scheduled commercial banks. The maximum loan amount is set at INR 7.5 lakhs for an education loan without pledging collateral, but if the amount is more, then the applicant will have to provide a collateral or third-party guarantee.  Students who have secured a collateral-free education loan under the CGDEL scheme get a one-year moratorium after completing their studies from loan repayment.  2. Banks Banks generally follow the guidelines set by IBA for education loans without collateral, although their internal rules may vary with the set criteria. It is the sole right of a banking institution to make changes for a loan amount that exceeds INR 7.5 Lakhs. The interest rates, the upper limit of the maximum loan amount, and repayment terms vary from bank to bank.  Edufund is also associated with public and private banks and NBFCs in India and can help you in getting the best possible terms for the education loan without collateral if you are interested in borrowing the money from a specific bank. The app also has a team of dedicated experts who will talk on your behalf and bargain for the best loan terms.  Starting the loan process at Edufund is very straightforward, as you can get direct quotes from partner institutions. Higher loan amounts, lower interest rates, and hassle-free loan process are possible only at Edufund.   4. Private Lenders and Non-Banking Financial Companies Private lenders and NBFCs generally sanction education loans without collateral for an amount that exceeds INR 7.5 lakhs. This is a tricky situation for the borrower as these types of education loans come with a higher interest rate compared to the collateral-free education loan of a maximum amount of INR 7.5 lakhs.  5. Education loan without collateral at Edufund App Suppose parents or students are unable to meet the set criteria for an education loan without collateral in India. In that case, they can visit the Edufund App and meet with the experts who handle loan applications.  Edufund has a dedicated loan page that will answer all your loan-related queries and direct you toward the proper channel so that it becomes possible for the applicant to become eligible for an education loan up to INR 75 lakhs at the minimum possible interest rates without any collateral.  The service is free, and there are no hidden charges that will come at a later date to haunt you.  Conclusion  Education loan is the need of the hour, and if you can get an education loan without collateral in India, then it is a win-win situation for a student who needs the loan amount to fulfill his dreams. Student loans serve as important financial aid for millions of students who otherwise would not be able to get a proper education and desired jobs.  Consult an expert advisor to get the right plan TALK TO AN EXPERT

If you intend to use an education loan to pay for your higher education overseas, you may have thought about the costs that these loan cover. What are some expenses under education loans? Do education loans only help with tuition fees? Can education loans cover the cost of flights or help pay the living expenses?   Keep reading to find out the expenses under education loans.    One of the main issues facing the majority of Indian students who want to study abroad is how they would pay for their higher education. An education loan makes sure that all of the financial conditions for the application process for an education loan overseas are satisfied within the allotted time limit.  For the majority of students, the cost of an education loan in India for studying abroad is the main topic of conversation when it comes to financing higher education overseas. The information on this page is relevant to both secured and unsecured education loans in India for international studies.  Costs of a typical course abroad for a student loan  One widespread misconception is that student loans do not fully cover the costs associated with studying abroad. This is untrue, though, as all educational loans, whether secured ones from government banks or unsecured ones from private lenders, cover the following list of costs that are essential to the educational process.  1. Student fees  One of the two main components of both forms of education loans in India for studying abroad is the tuition prices charged by foreign universities. An education loan in India for the international study is intended to assist students in covering their tuition costs. In India, all student loan repayments include tuition. Therefore, when deciding on the overall amount of your student loans, you should give top priority to covering your tuition costs.  2. Housing Costs  The term "factors" can refer to a wide range of things. The main living costs for a student include their rent or room and board, food, and costs for other daily necessities like transportation to and from school, a security deposit for housing, etc.  3. Medical Insurance  International students are frequently required to obtain health insurance by many foreign universities. This specific cost is covered by an education loan in India for studying abroad as it is one of the prerequisites for studying abroad for many students. Therefore, while applying for an education loan, health insurance can also be taken into account.  https://www.youtube.com/watch?v=4gTQkdePOWM 4. Flight Tickets  Another significant price covered by an education loan when applying for one overseas is airline tickets to the location of your choice. When quoting the education loan amount to your bank, this component might also be included.  5. Research Aid  You can include this information in the education loan application if your foreign university's offer letter states that you are responsible for paying for excursions and other extracurricular activities throughout the course of your studies. In addition, when applying for both forms of school loans in India, students can include the price of products like books, computers, and other study supplies in their total expenses.  What elements must a student take into account when determining costs?  There is no way to change the loan arrangement because the student loan is a one-time transaction. Therefore, a student needs to be aware of the costs they can cover on their own and those for which they might require a loan. The student's financial stability at the time of study is of utmost importance, so the loan amount should be chosen with that in mind.  Before assessing the costs, a student must take the following into account:  The price of housing in a specific country and whether it will be possible to live in shared housing for a lower cost of living.  Food prices in the city where the university is situated.  Additionally, a student's ability to prepare meals on their own can significantly lower the cost of tuition.  Since academics are not just available on-campus, the cost of eating out or intercity travel will be included in the total fee.  Many regions, including the US and Australia, have cheap used car markets and reasonable gas prices. In contrast, students in countries like Ireland receive discounts on public transportation. All of this requires preliminary research.  In the city where the university is situated, there are opportunities for part-time employment. There are enticing part-time occupations with regulated minimum earnings in several nations. This assists students in paying for a sizable portion of their living costs.  Consult an expert advisor to get the right plan TALK TO AN EXPERT

A member of your family (preferably your parents) who co-signs the loan application and assumes responsibility for repayment if you are unable to do so is known as a co-signer. Additionally, banks require a local contact in India for any due diligence while you are away.  In other words, whether applying for a loan from a public or private lender, having a principal co-applicant is required. A primary co-applicant and a financial co-applicant can be the same individual, although private lenders (private banks and NBFCs) require one during the loan application procedure.  The need for a co-signer  In many situations, having a co-signer for your loan makes sense.  Your credit is poor.  You don't make a lot of money.  You are a young person without any credit to your name.  You can get around these obstacles and be granted a loan by using a co-signer. If you and your co-signer are accepted, you might even be able to acquire interest rates that are lower.  However, a few things must be in place for this configuration to function:  Between the co-signer and the borrower, you should be confident that you can trust each other because the borrower will be demanding a lot from the co-signer.  The co-signer must be in good financial standing. Co-signers may not be permitted to co-sign on the loan if their credit is equal to or worse than yours.  The co-signer must be capable of making the loan payments on their own in the event that the borrower defaults on the loan.  Looking for a co-signer  Most borrowers who employ a co-signer pick someone close to them, such as their spouse, parent, grandparent, sibling, or a person with a similar relationship.  Sadly, not everyone has access to these choices, and in certain situations, family members may not have excellent credit, which is needed if they intend to apply for a loan with you.  Try contacting these people if you find yourself in this situation:  Friends: Do you have a friend that is trustworthy with money and has a stable income? Inquire if they would mind signing your loan as a favor.  Close relatives and cousins from extended family are all acceptable co-signers. Just make sure they have solid financial standing and decent credit (i.e., manageable debts and steady income).  Mentors: You can also consider finding a personal or professional mentor. Remember that they will need to know you well enough to have confidence in your financial routines.  Friends of your parents: You've probably known a couple of your parents' friends all your life. Are any of them willing to take a risk on your behalf?  Why do you need a co-applicant or co-signer?  A co-signer is essential to having the loan approved throughout the entire procedure.  Banks require some type of guarantee from borrowers that the loans won't turn into bad loans in the event of non-repayment for whatever reason. As a result, students have found it difficult to deal with the circumstance when they needed a co-applicant or co-signer.  In a scenario, where the student defaults on the loan after completing their studies, a co-signer assures that the lending agency's requirements are met and that there are reasonable prospects for the loaned amount to be recovered.  Cases where students' loan applications are denied because they lack a co-applicant or co-signer  For the processing of student loans from overseas, there are numerous channels available. The most crucial need for students to meet in order to proceed with the application for an education loan is having a co-signer.  However, this restriction is no longer a concern for students whose parents or other close family members are unable to serve as co-signer.  There are a few methods currently for processing a sizeable portion of the tuition cost through loans without needing collateral or a co-signer, so if a student doesn't have a co-signer, they shouldn't worry too much.  The granting of unco-signed, unsecured loans  Before granting a loan, banks, and NBFCs review a student's profile and take into account a number of variables. The likelihood that the loan will be approved and credited to the college's account at the time of admission or in the loan account is extremely high if a student meets the requirements established by the banks. Nonetheless, if you are a working person, the procedure may become simple, and acquiring the loan may also enhance.  The following considerations are taken into account while determining the loan amount:  The college to which applicants have been admitted.  The university belongs to the upper tier or the tiers below.  The candidate's credit history.  The sum of the scholarship received. (If any) Consult an expert advisor to get the right plan TALK TO AN EXPERT