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Severe health issues have emerged as a result of the current pandemic crisis. It has highlighted the importance of doctors and the healthcare industry in fighting the COVID-19 epidemic. But do you know how much medical school costs in India? Do you know where a doctor's journey begins? Yes, after earning an MBBS degree, a doctor's journey officially begins.  Students typically use student loans for MBBS in India to pay for their medical education. However, anyone who has applied for an education loan for an MBBS program will tell you how tough the entire procedure is and that most of the time there is little support from any financial organizations. What does that imply for students pursuing an MBBS in India?   Read this article through to the end if you're interested in learning more about the lenders who provide education loans for MBBS in India. This post attempts to provide you with the information you need. Types of student loans  Education loans are further divided into two categories because they are one of the main sources of finance for education.  Secured student loans: Secured student loans are made possible by the use of security as collateral. Here, in order to be eligible for an education loan, the borrower must pledge the collateral to the lender. Immovable property, liquid security, or any third-party collateral (such as a house, land with clearly defined boundaries, fixed deposits, government bonds, etc.) are the three main categories of collateral recognized as a security.  Unsecured student loans: Unsecured student loans are awarded based on the applicant's academic record and the financial situation of their co-applicant. In this, students are qualified for an unsecured school loan without having to provide any collateral security. Students must therefore pay close attention to the eligibility requirements stated by the financial institutions.  These are the two categories of student loans offered in India. If you're looking for an education loan for an MBBS in India, get in touch with our staff to get expert advice on education loans there. Costs associated with a student's MBBS program in India  National Medical Commission (NMC) and Indian Government Authorities are responsible for affiliating and accrediting medical schools and colleges. They carry out inspections of medical colleges and other institutions and establish the rules required to uphold the highest standards and quality of instruction in medicine. The length of the MBBS program is around five and a half years, which includes a one-year Compulsory Rotating Residential Internship (CRRI). In India, there are around 542 medical colleges, 64 of which are PG institutions approved by the NMC.  After MBBS comes MS, a postgraduate program in some specialties like MS/MD/DNB or others. Students have the option to choose their own area of specialization. PG programs in the medical area typically last three years, while diploma programs last two years.  The price of an MBBS program in India may differ from one institution to another. Comparatively speaking, public institutions are less expensive than private ones. The majority of students look into several options to pay for their MBBS program in India. A student loan for MBBS in India is one of the greatest options.  APPLY FOR EDUCATION LOANS FOR MBBS Recommendations for MBBS education loans in India  Let's talk about the sort of education loan that is suggested for MBBS study in India now that we are aware that there are two types of education loans.  NBFCs and private banks offer unsecured student loans. They offer relatively slim chances for MBBS students in India to obtain an education loan. Financial organizations often do not provide student loans for MBBS programs, either abroad or in India. This post will go into further detail on the motivation behind it.  Therefore, in this instance, the only source providing a secured study loan for MBBS in India is government banks. However, students should not solely rely on this since government bank education loans have their own unique set of requirements.  Secured education loans are the best kind to use for an MBBS program in India.  The maximum loan amount for MBBS students: is up to 1.5 crore  1. Details about Secured Education Loan  Student applicants seeking secured student loans must provide collateral in order to be approved. For education loans, various types of collateral security are needed, such as houses, apartments, fixed deposits, government bonds, etc. Government-run banks will also take collateral from third parties, such as your friends, family, uncles, aunts, etc. When students directly approach banks to request an education loan using third-party collateral, bank representatives typically do not prioritize such situations. Overall, this causes the application for student loans to be delayed.  Advantages of securing a student loan  1. Moratorium The repayment holiday is another name for the moratorium period. It is one of the main benefits for students who use government banks to obtain educational loans. In this case, the student is not required to pay the lender anything during the moratorium. Read this article, Benefits of Moratorium Period, for more information.  2. Lower interest rates Compared to NBFCs and private banks, secured education loan interest rates typically range from 8% to 9%. 3. Affordable Processing Fees Government banks charge a fixed processing fee of INR 10,000, which is sometimes refundable.  4. Tax benefit: Section 80E Under Section 80E of the Income Tax Act of 1961, either the loan applicant or the co-applicant may take advantage of the income tax exemption for educational loans.  Conclusion  It follows that obtaining an education loan for MBBS students in India may appear to be an endless process. But if you learn enough about the entire process, it will make getting a student loan a simple process.  TALK TO AN EXPERT

When it comes to studying abroad, the top countries that come to light are UK, Germany, and USA. Not many people aspire to study in countries like Netherlands or Norway. There are misconceptions like the cost of studying in the Netherlands is beyond the Indian budget or that there are no programs in English. Reasons to study in the Netherlands! 1. A multicultural and international atmosphere  Why study in the Netherlands is something that some individuals would wonder. But others would argue, "Why not?" if given the chance to relax on beaches, take boat excursions on canals and lakes, take in the beauty of the woodlands, enjoy a beautiful climate, and be where many people with diverse cultures mix.  Students from a wide range of countries are sent to the Netherlands to study abroad. International students attended schools in 157 different nations in 2014–15, with the majority coming from Germany, China, Belgium, Italy, and Spain. International student associations are present at the majority of Dutch universities and support students during their academic careers.  Moreover, the Netherlands is a singular non-Anglophone nation where roughly 95% of the populace speaks English. This makes living, studying, and working in the Netherlands immensely convenient, at ease, and pleasurable for international students. The Netherlands is a similarly free and liberal nation that promotes individual expression. This is strongly recommended throughout your academic career.  2. Inexpensive study fees  Studying in the Netherlands is less expensive than in other English-speaking countries like the UK or the US. In the Netherlands, higher education is financially supported by the government, and tuition is affordable. Due to the well-known high quality of instruction and comparably low cost of living, studying in the Netherlands will give you the most value for your money. Annual tuition fees for a degree program or course at a Dutch higher education institution start at about €1,900 for EU students and €6,000 for non-EU students, depending on the institution.  Also, if you choose to work in addition to your education, you can claim these costs and receive a tax refund. In addition, a lot of Dutch institutions provide grants and scholarships that help fully or substantially defray the cost of the tuition for educational programs.  3. Creative approaches to education  The Dutch educational system is of the greatest caliber, and Dutch institutions are well-known across the world for their infrastructure and curricula that are organized and cutting-edge. The Netherlands' emphasis on teamwork in the classroom makes it simple for international students to interact with both Dutch and other international students.  In Dutch universities, it is highly prized when professors and students form close relationships. Most tutorials and seminars are conducted in small groups of 15 to 30 students. You will complete the majority of your schoolwork in groups, which will improve both your academic and teamwork abilities. Universities in the Netherlands include a lot of practical elements in their degree programs. Universities place a lot of focus on relevant practical experience and have numerous connections with both Dutch and foreign businesses.  Universities of applied sciences, which offer more specialized degrees, are in addition to normal universities. Those who enjoy learning about real-world issues may find a university of applied sciences to be more intriguing. They give more weight to practical experiences and less weight to theoretical and intellectual concerns.  CALCULATE COLLEGE COST FOR STUDYING IN NETTHERLANS 4. Affordable costs of living  When compared to other nations in western Europe, the Netherlands has a relatively low cost of living.  If you are a student in the EU, you are still eligible for a grant of €265 and an OV-Chipkaart for student discounts on weekdays and weekends even if you work 32 hours a month.  There are many websites available for students to use to find dorm rooms. There is a high need for housing, so you should start looking for it right away. Also, many clubs, restaurants, museums, and theatres offer student discounts. A bicycle makes getting around town simple. Not only is this a typical Dutch means of transportation, but it is also reasonably priced. It is without a doubt advisable to request an ISIC student card if you want to benefit from several benefits and savings.  5. English is common as a medium of instruction  In order to draw in international students, the Netherlands is renowned as the first non-English speaking nation where universities began to design higher education study programs in English. In the Netherlands, there are more than 2,100 study programs and courses taught in English that can be completed to earn a bachelor's, master's, Ph.D., diploma, or certificate.  It sounds wonderful to have access to affordable, top-notch education in a range of areas in a multicultural, tolerant country. Nonetheless, if you are from a nation where English is not the native tongue, Dutch colleges do have severe language requirements. If you're an international student, you must take the TOEFL, IELTS, or a comparable English language test. For further information on the prerequisites of the university to which you intend to apply, check their website.  6. Exceptional chances to travel  Due to its geographic center on the continent, the Netherlands is easily reachable from all major European cities. The Netherlands is frequently referred to as the "gateway to Europe." It only takes around an hour to fly from Amsterdam to Paris, Berlin, Brussels, or London. Also, it has excellent rail accessibility and connections to all significant European cities.  Also, the Netherlands boasts a sophisticated and well-connected transportation infrastructure, and several student discounts make travel fairly reasonable. As previously indicated, you can also obtain a student OV-Chipkaart, which grants you access to cost-free public transit, by working 32 hours each month. This makes exploring the entire nation very easy and affordable. You will also enjoy how simple it is to move around on a bike, which is the Dutch people's primary and least expensive mode of transportation. Since there are roads specifically designated for bikers, you can cycle in privacy, security, and tranquillity.  7. Global recognition for degrees  The Netherlands has a long tradition of academic brilliance and is considered a center of knowledge. At Dutch universities, scientific research is highly regarded both domestically and internationally. The educational system in the Netherlands is well-known internationally and adheres to all norms. A degree from a Dutch university provides the opportunity to start one's own business and can be very helpful for developing a successful career in any nation in the world. Some of the most well-known universities in the Netherlands include the Universities of Amsterdam, Leiden, and Utrecht. Consult an expert advisor to get the right plan TALK TO AN EXPERT

One of the biggest financial issues that many students have is solved by getting an education loan. While receiving loan approval lessens the anxiety and worry associated with paying vast sums of money, students are frequently perplexed by the real loan repayment problem. Loan default is not an option because it lowers your credit score. Nevertheless, restructuring the loan is a simple solution to ease the financial load. This can be accomplished by refinancing the student loan, which entails replacing the current loan with a new one. What does refinancing mean? Refinancing student loans is just taking out a new loan at a different interest rate to repay the existing education debt, to put it simply. Refinancing is done to obtain a lower interest rate and further terms and conditions. Refinancing an education loan taken for studying abroad can be a smart financial move. It can lower monthly payments, reduce the overall interest cost and help you simplify the loan repayment process. In this article, we will go over the process of refinancing an abroad education loan and when it might make sense. https://www.youtube.com/watch?v=4gTQkdePOWM Steps to refinance an Abroad education loans 1. Assess your current loan Before refinancing, it's essential to understand the terms and conditions of your existing loan, including the interest rate, loan balance, and remaining duration. This information will help you determine if refinancing is a good option. 2. Shop around for refinancing options  Research different lenders that offer to refinance for abroad education loans. Compare the interest rates, loan terms, and repayment options each lender offers. Consider contacting multiple lenders to compare offers and determine the best option for you. 3. Apply for refinancing Once you have chosen the right refinancing lender, you can begin the application process. The lender will typically require information about your current loan, credit score, and proof of income. 4. Review and approval The lender will review your application and determine your eligibility for refinancing. You'll receive a refinancing offer with the new terms and conditions if approved. Review the offer carefully to ensure it meets your needs and expectations. 5. Sign the refinancing agreement If you accept the refinancing offer, you'll sign a new agreement with the refinancing lender. The new lender will pay off your existing loan and provide you with a new loan. APPLY FOR EDUCATION LOANS Advantages of refinancing an education loan Refinancing an abroad education loan involves paying off your existing loan with a new loan from a different lender. This process can help you take advantage of lower interest rates, better repayment terms, or a more favorable loan structure. Here are some benefits of refinancing an abroad education loan: 1. Lower interest rates  Refinancing your loan when interest rates are lower can significantly reduce the overall cost of your loan. A lower interest rate means you'll pay less over the life of the loan, potentially saving you thousands of dollars in interest payments. 2. Better repayment terms Refinancing can also allow you to select better repayment terms, such as a longer loan term, which can lower your monthly payment and make it easier to manage your finances. 3. Improved credit score  If your credit score has improved since taking out your original loan, you may qualify for a lower interest rate when refinancing. This can result in substantial savings over the life of the loan. 4. Simplified repayment process  Refinancing multiple loans into one loan can simplify the repayment process and make it easier to manage your finances. You'll only have to make one monthly payment instead of multiple payments to multiple lenders. In addition to these benefits, refinancing an abroad education loan may allow you to switch from a variable-rate loan to a fixed-rate loan. This can provide peace of mind, as your interest rate will remain the same over the loan's life, regardless of market changes. When considering refinancing, weighing the potential benefits against any costs associated with the process is important. Some lenders may charge fees for refinancing, so review the terms and conditions of any refinancing offer before making a decision. Consult an expert advisor to get the right plan TALK TO AN EXPERT

As more and more individuals move out, earning a degree from an international university may sound fancy and appear aspirational, but there are expenses associated with it, and handling them is not always easy. Although obtaining student loans is now quite simple, statistics suggest that few people appear to be aware of this. Although more students are traveling to study abroad, there are also more defaulted student loans. The Indian Banks' Association said that as of March 2018, there were around 9% more education loan defaults than there were in March 2016 (7.3%).   Data from the Mumbai-based credit agency CRIF High Mark reveals a rise in the average amount of new loans disbursed annually. The average ticket size for new student loans as of September 2018 was $8,95,000 compared to $7,08,000 at the end of FY18. "Indian demographics favor youth and high academic achievement, which boosts employability. Due to rising educational costs, the majority of students need loans.   The number of students who can obtain employment based on non-immigrant visas for temporary workers is capped under the new H1B visa laws in the US, which is one of the factors contributing to the shrinking of the ability to repay loans. Each fiscal year, there is a cap of up to 65,000 visas, with an additional 20,000 visas reserved for those who have obtained their master's degree from a US university. However, a much bigger number of people apply for the H1B visa. 236,000 applications were received by US Citizenship and Immigration Services (USCIS) in FY17.   Thus, the student's employability has greater significance. The student and the guarantor can experience more financial strain if that market slows down. How to avoid the negative long-term consequences of education loans?  1. Avoid Purchasing a Home  One's capacity to buy a home is severely impacted by student loan debt. In a 2015 survey by Equifax, 55.7% of millennial renters cited "school loan debt/not enough money saved" as their main deterrent to home ownership. Even if you have the ability to make the required monthly payments, paying down student debts may prohibit you from setting aside enough money for the minimum down payment needed by many lenders.  2. Live and work at Home  While some renters cannot afford to buy a home, other millennials with student loan debt, particularly those who reside in large cities like New York, Chicago, or Boston, cannot even afford to rent apartments.   According to Apartment Guide, the national average rent for a one-bedroom apartment in the US will rise from $1,596 in 2019 to $1,621 in 2020. When you have a student loan debt of approximately $30,000, that might be pretty difficult to pay. Many of these young adults choose to stay in the nest since their income is insufficient to cover their rent and school debt repayment.  3. Bringing Down Your Net Worth  Significant student loan debt can undoubtedly lower your overall net worth. There are differences between college graduates with and without student loan debt, according to a 2014 Pew Research Center analysis. A household led by a college graduate under the age of 40 who has student loan debt had a median net worth of $8,700. On the other hand, the median net worth of a household with a college graduate under 40 and no student loan debt is seven times higher, coming in at $64,700.  4. Postpone your dreams  Your standard of life and financial independence aren't the only things that are impacted by student loan debt. It also decides which of your dreams you can pursue and which ones will only serve as a faint recollection. You can find yourself forgoing a career with better compensation for one that provides you with a greater sense of fulfillment and purpose.   For instance, you might aspire to work for a charitable organization. But if you find out that the money that comes with it could not be enough to cover your financial commitments, you might have to give that up. In reality, you'll have to give up on these goals in favor of a higher-paying position so you can make your student loan payments.  5. Student loan debt persists Debt from student loans is distinct from other forms of debt. For instance, if a customer can't afford auto payments, they can return the vehicle to the dealer, and if a homeowner can't make their mortgage payments, they can return the keys to the bank. Your student loans are not subject to that rule. Nothing is left to return when you complete the student loan repayment process. Whether you used the money for education or not, it has already been spent.  Conclusion  More students are taking out education loans to pay for their education. It's crucial to understand the repercussions of borrowing money and to be self-disciplined enough to borrow what is necessary before even considering taking out a loan. Make cautious arrangements to repay your loans when you borrow, making sure to account for the earnings you can anticipate after graduation in the sectors that interest you.  TALK TO AN EXPERT

For students looking to study abroad, the UK is the ideal location. India ranks as the second-highest nation of origin for students at UK higher education institutions. If you are an aspiring student planning to study in the UK but are concerned about the expense of attending a UK university, this blog will help you understand how an education loan may help you. An education loan for a course in the UK is one of the most popular options among the different forms of financial help offered to overseas students.  How does one apply for a student loan in the UK?  You can now get a study loan for the UK with low-interest rates, flexible payment schedules, a simple application process, few documentation needs, and quick approval. To learn about interest rates, repayment options, and loan amounts and to create a budget for the expense of studying in the UK, all you need to do is contact the loan providers.  Explore this page to learn more about the cost of studying in the UK, the prerequisites for student loans in the UK, the costs that are covered by the loans, repayment, loans for Indian students studying in the UK, etc.  https://www.youtube.com/watch?v=4gTQkdePOWM Why would you need a UK student loan?  If you have decided to study abroad in the UK, you should be aware that it is one of the most expensive countries. The entire price includes university tuition fees, cost of living factors like lodging, food, transportation, health care charges, and other expenses. One could feel financially constricted with so many expenses.  The following are some of the main justifications for choosing student loans in the UK:  Interest rates on any loan, including home loans, auto loans, personal loans, and others, are frequently higher than those on student loans. Additionally, female borrowers receive a 0.5% discount from all Government banks.  A student loan in the UK will pay for your tuition, transportation (tickets), housing rent, university fees, food expenses, living expenses, laptop, and any other item necessary for your studies.  Usually, parents sell off sizable amounts of assets to pay for their children's education in the UK, which throws off their long-term financial goals. When you take out an education loan, however, banks hold your liquid assets, such FDs, insurance, and government bonds, as collateral and issue you a loan based on that security.  A student loan for the UK is one of the effective options to pay for all of your expenses promptly and safely while still meeting visa and admission standards.  But how can I apply for an international student loan in the UK? Let's look at the eligibility and prerequisites for UK student loan applications.  Criteria and conditions for obtaining a Student Loan in the UK  Let's look at the qualifications for loans for Indian students studying in the UK before delving into the procedure of obtaining one:  The candidate must be an Indian citizen.  The applicant's age at the time of loan application should fall between 18 and 35.  They must have received official word of admission to a reputable UK institution.  There must be a co-applicant, who may be a parent or spouse.  Co-applicants must have a reliable source of income.  What paperwork is necessary to obtain a student loan?  If you wish to apply for a study loan in the UK, the following documentation is required to support your loan application:  Bank loan application form for education.  Proof of enrollment.  An Aadhar card, voter ID, passport, or driver's license, serves as identification.  Examples of address documentation include bank statements, rental agreements, ration cards, utility bills, and phone bills.  Age verification documents include an Aadhar card, voter ID, driver's license, and passport.  Passport-size photos.  When requesting a loan, proof of income in the form of pay stubs is required.  Financial records  Recent exam results, such as higher secondary exams or graduation results, are on mark sheets.  A copy of any award letter.  A thorough breakdown of the costs involved in taking your selected course.  Statement of the borrower's bank account.   The assets and liabilities of the co-borrower are listed.  APPLY FOR EDUCATION LOAN How can Indian students get a Loan in the UK?  The answer is a resounding yes if you're asking whether or not loans for Indian students are available in the UK. You can borrow money to pay for tuition and living expenses at UK institutions. The university, course, age, nationality, and whether you've taken higher education courses all affect your eligibility for student financial aid. Here are the procedures to follow when requesting a student loan in the UK:  For a student loan in the UK, you can apply online.  You can apply for financial aid through an education loan to study in the UK for up to nine months after the start of your academic degree.  Processing of your application could take up to six weeks.  You must provide identification evidence.  Once you start making a consistent paycheck, you can pay off these loans.  Your monthly income will also affect how many and how many installments you will receive each month.  Types of student loans for the UK  Let's look at the two major forms of loans available to Indian students in the UK:  Collateral Education Loan: A secured education loan in the UK or a loan for which you must offer security or collateral in order to be approved. Real estate or fixed assets like FDs are examples of securities that can be either material or immaterial.  Non-Collateral Education Loan: You do not need to present any collateral in order to apply for an unsecured education loan in the UK.  Additionally, the table below details the main distinctions between these two loans: Secured Loan Unsecured Loan The bank requires collateral security to provide such a loan. There is no need for collateral to avail of this type of UK education loan for international students. Helps you get a loan of up to 1.5 crores Helps you get a loan of up to 750,000 INR for the UK The rate of interest is usually lower The rate of interest is usually higher  What Indian banks offer student loans to UK citizens?  Bank Name Maximum Amount of Loan (in INR) Interest Rate State Bank of India 1,50,00,000 10.50% Bank of India 40,00,000 8.95-9.75% Bank of Baroda 1,50,00,000 8.50-9.15% Central Bank of India 20,00,000 8.65-10.60% Allahabad Bank 50,00,000 7.15-10.05% Punjab National Bank Determined on the basis of need 8.90% HDFC Bank 30,00,000 14% ICICI 1,00,00,000 10.50-13% Axis Bank 75,00,000 INR 13.70-15.20%  What costs in the UK Are Covered by Student Loans?  Look at the costs paid by student loans in the UK:  Payments due to the institution  Fees for exams, library memberships, and lab services  Expenses for the books and supplies required to finish the course  Refundable reservation deposits, cautionary deposits, etc.  The cost of travel to study abroad  Up to 50,000 INR was spent on a two-wheeler.  Costs associated with a research trip or a project for the class  It is expensive to pursue a degree in one of the top study-abroad countries, such as the UK. Instead of delaying your decision to study in the UK, it is wise to take out an education loan for the UK. Hope you learned about the prerequisites, eligibility, and application process for student loans in the UK from the aforementioned guide. TALK TO AN EXPERT

The Norwegian educational experience is one of the best and most rewarding. Located in the heart of Europe, Norway is an affordable place to study abroad. It’s well-connect with the rest of Europe and offers impressive universities and opportunities to its students. Reasons to study in Norway  1. A secure location to study  In Norway, there is not much crime. Very low. There are ten times as many prisoners and eight times as many murders committed each year in the US despite the stark demographic gap. The causes are numerous, but they can all be traced to Norway's political system, which is a social democracy.  Aside from everything else, this indicates that income is distributed more fairly in Norway than it is in some other countries, and Norway is a wealthy country. Most importantly, since social responsibility is a shared responsibility, many see crime as a duty of society rather than a personal failing. Although the details of that rehabilitation are regularly disputed, even among Norway's generous people, the objective is to rehabilitate offenders rather than punish them. Finally, it seems likely that neither crime nor police harassment will taint your years at school in Norway.  2. Free teaching  The majority of higher education institutions are funded by the Ministry of Education and Research, which is another advantage of a nation governed by people rather than a business.  Even so, if you fly internationally, Students, even those from overseas, are not required to pay tuition unless they attend a private university. The expenses will still be low. The student union will charge you a fee each semester (around the cost of a textbook) to cover access to some amenities, but this is nothing in comparison to ordinary tuition costs.  The main qualification in this situation is the high cost of living in Norway. Meals and booze are expensive, and unforeseen expenses like a last-minute cab ticket can severely cut into your monthly budget. The other side of this is that Norwegian wages are very high for graduates in Norway and if you have the time and energy to work while you study.   If you have a limited budget, it's crucial to think about whether attending school in a country with more tuition and a lower cost of living would benefit you more or if you can manage your expenditure and benefit from everything a Norwegian education has to offer.  CALCULATE COST OF STUDYING IN NORWAY 3. Strong English   In Norway, if you ask someone if they speak English, they can first look confused before saying, "Of course!" The majority of Norwegians, especially the younger generations, are fluent in English, and the nation has moved up to third place on the EF English Proficiency Index.  Learning Norwegian is advantageous, especially if you wish to live or work in Norway or communicate with Norwegians. Fortunately, it's not too difficult to learn the language, especially if English or another Germanic language is your first tongue.  4. Tolerant culture  The majority of Norwegians are accepting of LGBTQ+ people and have a laid-back attitude. In fact, Norway is ranked among the top five nations in the world for LGBTQ+ tolerance by the UCLA School of Law Williams Center. The Scandinavian custom of "keeping oneself to yourself" can be difficult for newcomers who are accustomed to saying hello to neighbors and rarely conversing with strangers. Yet, after you get to know some Norwegians, you'll discover that they have a sharp sense of humor as well as the aforementioned caring sense of communal welfare. In actuality, the meaning of the Norwegian word "dugnad" is the local or national community cooperating for the good of all.  The majority of society benefits from Norway's stable economy, which is based on its natural resources. There is a healthy economy with low unemployment and a generous welfare system. The economy is growing well compared to other developed economies, notwithstanding the krone's current weakness. As a result, graduates have a high standard of life and a promising future.  Consult an expert advisor to get the right plan TALK TO AN EXPERT

Planning to apply abroad and stressed about your education loan application? Keep reading to find out the difference between private vs government-backed education loans for abroad.   Education loans offered by private vs government-backed banks differ in interest rates, moratorium periods, processing costs, and payout, are different.  Government banks are those where the government itself holds the majority of the bank's stock, as opposed to private banks, where the majority of shares are held by shareholders. State Bank of India, Bank of Baroda, Bank of India, and the Central Bank of India is the government banks whereas ICICI Bank, Axis Bank, and HDFC Bank fall in the category of private banks. Government banks vs. private banks  Quantum of Finance: Secured education loans and unsecured education loans are the two main divisions of overseas student loans. Government banks like SBI and BOB can provide up to 1.5 Crore in financing for secured education loans, but private banks like Axis Bank and ICICI Bank can provide financing ranging from 75 lakhs to 1 Cr. The amount of funding for unsecured overseas education loans is up to 7.5 lakhs for government banks and up to 40 lakhs for private banks.  Rate of Interest: Both public and private banks have different rates of interest. Private banks have a higher return on investment than government banks. The interest rates offered by the State Bank of India and Bank of Baroda for loans for international education are 8.5% to 9.5%. For secured education loans from private banks like Axis Bank and ICICI Bank, the interest rate ranges from 9% to 10%, and for unsecured education loans from 11% to 13%.  Processing Time: Government banks process loans for international education in up to three weeks, whilst private banks process loans in up to ten days. This is one of the reasons we suggest applicants apply for international student loans at least three months before the program's start date.  Processing Fees: Compared to government banks like SBI, BOB, BOI, etc., the processing fees levied by private banks like ICICI Bank and Axis Bank are greater. To be precise, processing fees charged by government banks are 10,000 + GST, whereas fees charged by commercial banks might reach 1% of the total amount of the student loan.  Disbursement: The sum of the education loan is disbursed to the appropriate university's bank account by both public and private banks. These banks send the money into the currency card that is issued by the same institution that provided the loan in order to pay for living expenses.  Repayment Tenure: This refers to the length of time that the applicant has to pay back the financial institution for the student loan in Equated Monthly Instalments (EMIs). After the moratorium period is up, the education loan EMIs start. Government and private banks both provide up to 15 years for repayment.  Moratorium period: The moratorium period is the portion of the loan term during which the applicant for an international education loan is exempt from making any loan payments to the financial institution. In other words, lending institutions provide students with a waiting time of between 6 and 12 months. For government banks, the moratorium term is up to 12 months, whereas it is up to 6 months for private banks.  Serving Simple Interest: After an overseas education loan has been disbursed, serving Simple Interest for government banks is optional, however serving Simple Interest for private banks is required.  Age Restrictions: Applicants between the ages of 18 and 35 are eligible for loans from both public and private banks for international education. To qualify for an education loan from these banks, applicants over 35 must have a solid academic and financial background.  Tax Benefits: Under section 80E, financial institutions of both the private and public sectors are qualified to receive tax benefits.  Conclusion These are some of the key factors that should be taken into account when selecting an appropriate financial institution for an education loan for studying abroad. Both public and private banks have advantages and disadvantages.  Consult an expert advisor to get the right plan TALK TO AN EXPERT

Every year, schools increase their annual fees in India. The average school fees in India range between Rs. 50,000 to 1,00,000 per annum. The increase in response to the rising cost of all goods and services (that is the result of education inflation!). It’s tough to keep up with these costs, especially in a competitive world where your child deserves all the advantages they can amass. Since education is unavoidable and an integral aspect of a child’s development, here are some tips to save for your child’s school fees. 5 ways to save for your kid's dream college! https://www.youtube.com/shorts/N6RKPu_zoY8 1. Cut costs and budget Cost cutting and budgeting is the first step to saving. Create a monthly budget, and find out how much you need to cover your major expenses like rent, utilities, emails, travel, and food. Once you know where your money is going, you will be able to control your expenses and figure out the areas where you overspend and where you can cut costs! Removing small expenses from your budget can make a huge difference in your overall budget. Cost of School Education in India Read More 2. Government schemes and scholarships Another way to deal with the rising school fees is to make use of government scholarships and schemes. Schemes like the PM Young Achievers Scholarship Award Scheme (Yasasvi), Beti Bachao Beti Padhao schemes, and Girls Hostel Scheme for available for young children and encourage them to access quality education. There are other schemes like sibling discounts that private schools may offer if you enroll more than one child at their schools, this can either be in the form of fee waivers or concessions. Apply for Scholarships 3. Passive income Creating passive income is a great way to save up for your child’s school fees. Passive incomes can help you take care of small and big expenses Some quick ways to generate a passive income stream is by renting a spare room, apartment floor, or your car. Take up consultancy jobs or freelancing to create a secondary income that can over time become a passive income for you and your family. 4. Stocks: Indian and US Investing is another option for parents whose children are in school. Investing in stocks can help you expand your savings and beat inflation. Investing in us stocks offers even more benefits – it is an opportunity to invest in big companies with global reach and get returns in dollars. Stocks are risky instruments and the potential to gain is as high as loss – understand the risk and consult professionals before investing your life savings. 5. Mutual Funds Mutual funds are a great way to save up for the future education is a definite event and you need to save for a child’s fees. Mutual funds offer great returns and are highly liquid-able which means you can withdraw your money whenever you want but be aware of the exit fees that may be charged on premature exit. Consult a professional to find out the best mutual funds, and explain your time horizon, risk appetite, and how much you can spare monthly. Once you know these answers, you can invest in the funds based on your financial goals! Start Investing in Mutual Funds 6. Public provident funds It's always good to balance your portfolio. If you are investing in risky instruments then consider tools like PPF, FDs, or RDs to save up some school fees or other expenses. You can use the interest generated on these instruments to pay for certain expenses. These are risk-free investments with fixed interest rates which makes them ideal for long-term risk-averse individuals! To avoid financial worries later, start saving sooner! Connect with the best advisors from EduFund to make saving and investing easier for your child’s higher education. https://www.youtube.com/watch?v=OQlg-E5rhBM&t=4s FAQs How to save for your kid's school fees? There are many ways to save for your kid's school fees. Some of them are investing for your child's education expenses, you can use mutual funds, US stocks, and Indian stocks, and even opt for FDs and PPF schemes. Another is to look for schemes and scholarships that can help you reduce the cost of studying at schools and colleges. Why are school fees increasing rapidly? The reason why school fees are rising is due to education inflation, privatization, lack of government control, demand for private schools, and high competition. As Ashneer Grover said, the demand for coveted schools is higher than the current supply, which gives existing schools an advantage in terms of raising their fees and demanding high annual tuition every year. What is the best way to save for your child's school? The best way is to start a SIP in a mutual fund that can help you manage the costs of your child's education. EduFund offers class-wise buckets for saving for school fees. So if your child is in 5th grade and you want to invest then you can choose the 5th grade investment bucket designed by experts and start saving.

The USA is considered one of the most expensive destinations in the world. The most popular course is MS in the USA. In this blog, we've covered all you need to know regarding the cost of studying MS in the USA. The number of credits required for the course and the type of university determines how much an MS in the USA costs (private or public).  An MS program must have 30 hours of credit hours as a minimum. The typical cost of pursuing an MS in the USA ranges from USD 30,000 USD to USD 1,20,000 (INR 22.7 – INR 90.9 Lakhs). Additionally, it differs from one institution to another. Top universities in the USA to pursue MS Top UniversitiesTuition Fee in INRHarvard University41.5 lakhsStanford University28 lakhs- 41 lakhsYale University33 lakhs- 40 lakhsColumbia University28 lakhs- 60 lakhsDuke University43 lakhsMIT64.92 lakhsUniversity of California, Berkeley24 lakhsCornell University14 lakhsCalifornia Institute of Technology46 lakhsPrinceton University36 lakhsUniversity of Chicago42 lakhs 1. Cost of living in the USA  Planning to study abroad requires setting up money for living expenditures including rent or mortgage, food, transport, and shopping, among other things. The incidental costs resulting from your lifestyle choices are what make the most impact when you consider how expensive studying in the US may be. Type of ExpenseCost Per Month in INRHousing Expense70,000 - 1.48 lakhsFood Expenses2,200 - 3,000/ mealTravel Expenses7,398 - 22,194Health Insurance33,000 - 51,000Miscellaneous Expenses22,000 - 44,000 2. Cheap universities to study MS in the USA  There are several economic institutions in the United States for students on a tight budget. Here is a list of a few American colleges that charge master's degree candidates tuition that is relatively reasonable: UniversitiesTuition Fee in INRAlabama State University14.22 lakhsUniversity of North Carolina15 lakhsUniversity of Minnesota21.20 lakhsPurdue University10.88 lakhsFlorida State University15.90 lakhs EduFund Cost Calculator Best MS courses to study in the USA The course you choose to take will rely on a number of variables, including your area of interest, potential career paths, the course structure and content, length, and overall cost for an MS in the USA. The following are some of the top programs to enroll in the USA in 2023. MS in Cyber Security MBA Master of Science in Information Systems MS in Computer Graphics Technology Master of Science in Materials Science and Engineering MS in Information Systems Management Master of Science in Data Science Master of Science in Civil Engineering Master of Science in Computer Science MA in Animation Eligibility for studying MS in the USA Depending on the university and course you want to pursue, there may be different qualifying criteria to study MS in the USA. However, the following requirements must be satisfied generally for you to be qualified to pursue your MS in the USA: The candidates must have completed their master's degree at a reputable school in a related discipline with a minimum average GPA of 3.5. Must have a good GRE score. Students from other countries must have passed one of the English language competency tests. TOEFL and IELTS are recommended. As an undergraduate, the candidate must have had relevant professional experience. Experience is said to be gained through field internships Different investment options to fund your child's cost of studying MS in the USA There are several investment opportunities to help pay for your child's MS studies in the United States. Fixed deposits and other traditional products might not be enough to cover your child's educational costs. It is crucial to take other products into account, such as shares, balanced funds, and equity funds. You can select one of the following investment techniques based on your time frame: If your child will want the money within five years, debt mutual funds are the best choice. Such funds have the ability to produce returns that are higher than the rate of inflation while also supplying liquidity. For long-term objectives, you can combine several financial instruments. US stocks and ETFs, gold, equities, and debt are all investment options available to you. Buying stocks gives investors the chance to eventually generate more money, even if exposure to the stock market may be dangerous. One of the best investment alternatives for supporting a child's education is the PPF. To amass significant wealth, you must begin this early and invest consistently. A variety of child-focused services are offered by several insurance companies. When your kid needs the money to pay for higher schooling, you could opt to set more responsible regulations in place. Children's investment plans can assist you in preparing financially for rising education costs, unexpected illnesses, and unfortunate circumstances. As soon as you can, you should start making plans for your child's future. By doing this, the associated risks are dispersed and your assets have more time to grow. Consult an expert advisor to get the right plan TALK TO AN EXPERT

Specially tailored scholarships for MBA in India have been a blessing for students pursuing the Master of Business Administration degree.  MBA is an advanced degree course with a high fee structure that varies between INR 16 lakh to INR 27 lakh for the entire course. Generally, students studying for an MBA degree need financial aid to pay for their courses.  Applying for an MBA Scholarship will reduce education costs and help learners to avoid significant loan debt to a great extent. What is an MBA scholarship? An MBA scholarship is a type of financial assistance provided to students who are interested in pursuing an MBA degree course.  MBA Scholarships are often based on academic scores, overall performance, and financial circumstances of a family because it is difficult to arrange the required amount of money for a common person.  MBA scholarships and fellowships are generally merit-based or identity-based and do not require repayment from the students. This monetary aid acts as a strong incentive for students who are good at studies and want to follow the MBA course but are unable to do so because of the high fee structure. Types of MBA Scholarships in India 1. Institute-based MBA Scholarship Institute-based MBA Scholarships are offered by the MBA institutes. It is based on merit and considers previous academic results and the overall performance of the student during the ongoing degree course. Some of these scholarships are also merit-cum-need based as it considers both academic records and the need for financial aid of the student pursuing an MBA degree. 2. Corporate-sponsored MBA Scholarship Corporate Sponsored MBA Scholarship is offered by companies at reputed institutes. These are often started by alumni students who want to help aspiring students in getting an MBA degree.  3. Bank-sponsored MBA Scholarship Bank Sponsored MBA Scholarships are offered by specific banks to students who have excelled in their studies and whose family income does not exceed more than INR 6 lakhs per annum.  4. Government-sponsored MBA Scholarship Government Sponsored MBA Scholarships are provided by government-led institutions like IIMs to aspiring MBA students who belong to backward classes like ST, OBC, or SC. MBA scholarships in India: List of Top 5 Scholarships 1. PNB Housing Finance Protsahan Scholarship PNB Housing Finance Protsahan Scholarship, offered by PNB Housing Finance Limited, is a merit-need-based scholarship program for 1st-year students enrolled in MBA/PGDM study courses.  The application timeline is December to February, and the scholarship amount is INR 2 lakhs. Applicants with a family income of less or equal to INR 8 lakh and minimum marks of 65% in class-12 and UG studies who want to study in either BIMTECH (Greater Noida), IMT Nagpur, or Indira Institute of Management, Pune can apply.  2. Aditya Birla Group Scholarship Aditya Birla Group Scholarship is a corporate-sponsored MBA scholarship offered by Aditya Birla Group for students who want to pursue an MBA degree at IIMs Ahmedabad, Bangalore, Calcutta, Lucknow, Indore, Kozhikode, Indore, Shillong, and XLRI Jamshedpur.  The top 20 students, based on the ranking of entrance exams, can apply for this INR 1.75 lakh MBA scholarship. 3. IDFC First Bank Scholarship IDFC First Bank Scholarship is a need-based bank-sponsored MBA scholarship offered by IDFC First Bank to students enrolled in the 1st year of a full-time MBA study course.  Only students with an annual family income of equal to or less than INR 6 lakhs who want to pursue the course in the list of colleges given by the program can apply. The financial aid is INR 1.0 lakh per annum throughout the MBA program.  4. IIM Ahmedabad MBA Scholarship IIM Ahmedabad MBA Scholarship provides several scholarships to aspiring students. IIMA Special Needs Scholarship is for students pursuing a postgraduate program with a family income below INR 15 lakhs.  The financial aid for each applicant is determined by the IIM-A authorities based on several criteria.  5. IIM Bangalore MBA Scholarships IIM Bangalore MBA Scholarships are offered to PGP students with a family income of less than INR 6 lakhs.  Citi Women’s Leader Award is a scholarship program in IIM Bangalore only for girl students studying for the MBA course. Students are selected at the end of 1st year from the top 25% in their class. The final call is taken by CitiGroup after one-on-one interviews with the ambitious students.  Conclusion  An MBA degree is not just a degree course but a promise of a good career for aspiring students, but it comes at a great cost as the degree is very expensive. Scholarships for MBA in India help to fulfill the dreams of many students deserving a better chance at life through the study course.  Consult an expert advisor to get the right plan TALK TO AN EXPERT

Many students seek out other nations to complete their medical degrees, especially in Europe. The cost of studying medicine in Europe is surprisingly more reasonable than in India. Many private universities in India charge nearly 40 to 50 lakhs per annum for a medical degree. In comparison to this, several European nations with their inexpensive medical education have emerged as promising choices for these students.  European institutions are a popular choice among students due to their cutting-edge facilities and academically outstanding professors. In this blog, we've discussed the cost of studying medicine in Europe. Cost of studying medicine in Europe One of the biggest benefits of studying MBBS in Europe is the ability to save money with European medical education while still receiving an excellent education. The approximate cost of an MBBS in Europe in Indian rupees is as follows. UniversityFees/YearEuropean University5000 USD (INR 3.7 lakhs)Lviv National Medical University4900 USD (INR 3.6 lakhs)Ivane Javakhishvili Tbilisi Medical University6000 USD (INR 4.4 lakhs)Taras Shevchenko National University6000 USD (INR 4.4 lakhs)Bogomolets National Medical University5500 USD (INR 4.07 lakhs)Gdansk Medical University12,000 USD (INR 8.8 lakhs) Now, when it comes to living expenses while studying in Europe, they might change depending on the nation you have selected as well as the place where you will be residing. Following is the average cost of living in Europe. CountryAverage Living Costs to Study in Europe (Per year)Belgium10,200 -11,400 EUR (8.56 - 9.57 lakhs INR approx.)Netherlands9,600 -13,200 EUR (8.6 - 11.8 lakhs INR approx.)Austria11,400 EUR (9.57 lakhs INR approx.)Denmark14,400 EUR (12.9 lakhs INR approx.)Ireland12,000 EUR (10.7 lakhs INR approx.)Finland9,600 EUR (8,6 lakhs INR approx.)France9,900 EUR (8.3 lakhs INR approx.)Germany10,200 EUR (8.56 lakhs INR approx.)UK12,180 EUR (10.22 lakhs INR approx.)SwitzerlandCHF 22,734 (18.02 lakhs INR approx.)NorwayNOK 139,680 (10.78 lakhs INR approx.)Spain10,800 - 13,200 EUR (9.05 - 11.07 lakhs INR approx.)RussiaRUB 242,160 (2.51 lakhs INR approx.)SwedenSEK 96,000 (99,600 INR approx.)Note: The given figures are projections and can be reduced or increased by the universities and countries. Please always cross-check with the official websites at the time of admission. Top courses offered by European medical universities The top programs provided by European medical colleges are listed below. CoursesDurationMBBS/ MD6 yearsDentistry5 yearsPharmacy4 yearsNursing4 years Eligibility criteria for studying medicine in Europe The fundamental qualifying requirements for studying medicine in Europe vary depending on the program; we have listed the basic eligibility criteria for studying medicine in Europe below: You must be at least 17 years old on December 31 of the admittance year or older. The 10+2 standard test must be passed with a scientific degree. You must have Physics, Chemistry, Biology, and English as subjects in 12th grade. Additionally, you must receive at least a 50% on your 12th-grade exam. In order to apply for MBBS in Europe, you must pass the NEET test. At the time of admission, all original documentation must be shown. Top Universities to study medicine in Europe  If you want to enroll in one of the next intakes, these are the top universities in Europe for medical studies: Ivane Javakhishvili Tbilisi Medical University European University Taras Shevchenko National University Bogomolets National Medical University Lviv National Medical University Gdansk Medical University Different investment options to fund your child's cost of studying medicine in Europe There are several investment opportunities to help pay for your child's medical studies in Europe. Fixed deposits and other traditional products might not be enough to cover your child's educational costs. It is crucial to take other products into account, such as shares, balanced funds, and equity funds. You can select one of the following investment techniques based on your time frame: If your child will want the money within five years, debt mutual funds are the best choice. Such funds have the ability to produce returns that are higher than the rate of inflation while also supplying liquidity. For long-term objectives, you can combine several financial instruments. Gold, equities, and debt are all investment options available to you. Buying stocks gives investors the chance to eventually generate more money, even if exposure to the stock market may be dangerous. One of the best investment alternatives for supporting a child's education is the PPF. To amass significant wealth, you must begin this early and invest consistently. A variety of Child-focused services are offered by several insurance companies. When your kid needs the money to pay for higher schooling, you could opt to set more responsible regulations in place. Children's investment plans can assist you in preparing financially for rising education costs, unexpected illnesses, and unfortunate circumstances. As soon as you can, you should start making plans for your child's future. By doing this, the associated risks are dispersed and your assets have more time to grow. Consult an expert advisor to get the right plan TALK TO AN EXPERT

Studying abroad can be a life-changing experience, but it can also be expensive. The cost of tuition, accommodation, travel, and other expenses can add up quickly, making it difficult for many students to make the most of this opportunity. Fortunately, there are abroad education loans that can help you finance your study abroad program or gap year. However, you have to understand that these loans are typically designed to support students who are pursuing a degree program, not those who are taking a gap year or participating in a study abroad program. So, if you're looking to use an abroad education loan to fund a non-degree program, you'll need to take a different approach. https://www.youtube.com/watch?v=4gTQkdePOWM The first step in securing an abroad education loan for a study abroad program or gap year is to research your options. Start by exploring different loan programs offered by private lenders, such as banks, credit unions, and online lenders. You may also be able to find scholarships and grants specifically for study abroad programs, so be sure to check with the host institution, study abroad organization, or government agency for information about funding opportunities. Once you have a list of potential loan programs, it's essential to compare their terms and conditions. Look at the interest rate, repayment terms, and any other fees or charges associated with the loan. Make sure you understand what the loan will cost in the long run, so you can make an informed decision. You should also consider any restrictions on how you can use the loan proceeds, such as restrictions on the type of program you can attend or the length of time you can spend abroad. When applying for an abroad education loan, you'll typically need to provide some basic information about yourself, including your name, date of birth, and contact information. You may also need to provide proof of your enrollment in a study abroad program or gap year program, such as a letter of acceptance or a letter from the host institution. You may also be asked to provide financial information, such as your income, expenses, and assets, to help the lender determine your ability to repay the loan. If you're approved for an abroad education loan, it's important to use the funds wisely. Make sure you use the loan proceeds to cover your necessary expenses, such as tuition, travel, and housing. Avoid using the loan for frivolous expenses, such as shopping or dining out, as these expenses can add up quickly and make it more difficult for you to repay the loan. When it comes to repaying your abroad education loan, you have to be proactive. Review your loan agreement carefully to understand your obligations, including the monthly payment amount and the due date. Make sure you have a budget in place that includes the loan payments, so you can stay on track and avoid falling behind. You may also want to consider setting up automatic payments so you never miss a payment. If you're having trouble repaying your abroad education loan, reach out to your lender as soon as possible. They may be able to work with you to find a solution, such as reducing your monthly payment or extending the repayment term. However, keep in mind that taking these steps can increase the overall cost of your loan, so always consider all of your options carefully. Tips for using education loans to fund your study abroad program or gap year Here are a few tips to help you make the most of your education loan and make your study abroad experience a success: 1. Plan ahead Start planning and researching your options as soon as possible to give yourself enough time to find the best loan for your needs and to get your application processed. 2. Be mindful of your budget Make a budget for your study abroad program or gap year and stick to it. This will help you avoid taking out more loans than you need and minimize the amount you need to repay later. 3. Consider a co-signer Some lenders ask you to provide a co-signer for the eligibility of the loan in case you are not qualified for it or there are some discrepancies. Conclusion  In conclusion, abroad education loans can be a valuable resource for students who are looking to fund a study abroad program or gap year. However, the cost of such programs can be a significant barrier for many students. Fortunately, there are education loans available to help you fund your study abroad program or gap year. Be sure to research your options, compare the terms and conditions of different loan programs, and use the funds wisely to make the most of it. In case you need more information or advice, EduFund’s team of financial advisors is always available for help. Consult an expert advisor to get the right plan TALK TO AN EXPERT

Education loans for MBAs in India can be easily found but applying for them is harder than you think. The process is rigorous and time-consuming. Here is everything you need to know about education loans for MBAs in India before you start preparing for your application.   Want help with your loan application? Click here to connect with our experts and apply for loans with multiple banks with one application!  Why an MBA education loan? MBA is considered one of the most expensive and career-altering courses in the world, it can cost you anywhere between 10 to 40 lakhs! Many students opt for an education loan for this program. This is because an education loan is the easiest and most efficient way to finance your MBA program without any added financial stress. It allows you to complete your education and start paying for the loan after the course is over. The interest rates are reasonably designed to help students and professionals pay off their loans over a period of time. Advantages of taking loans for college  Boost your pocket: An MBA school loan can make it possible for you to complete a degree that you otherwise might not have been able to afford.  Don’t miss opportunities: Without taking out a student loan, many students would be unable to pay the MBA course cost. It is a crucial investment that can boost your professional standing and open up new development prospects for you.  Nearly all of the expenses you'll pay while completing an MBA will be covered by your student loan, which offers almost 100% coverage.  Affordability: An MBA program might cost thousands of rupees. At IIMs, tuition prices range from INR 13 lakhs to INR 23 lakhs. The leading business schools charge between INR 10 lakh and INR 20 lakh in tuition. The cost of the student's personal expenses, project costs, and dorm fees should also be included. Therefore, if you want to feel confident and at peace, while enrolled, paying for an MBA program is just as important as being admitted. Alternative methods of Achieving Dreams  A spot in one of the best MBA colleges in India requires funding the program, which is a difficult task given the high cost of the curriculum. Therefore, whether an MBA is given in India or abroad, managing the program's funding through educational loans is the most common and effective option. List of National Banks that Provide MBA Education Loans  MBA education loans are available from a number of major banking organizations at competitive interest rates. Below are a few of the most important student loan programs offered by various financial organizations that can assist you in paying for your MBA programs:  State Bank of India  Canara Bank  Dena Bank   Punjab National Bank   Union Bank of India   Central Bank of India List of private banks and NBFCs providing loans for MBA education  In addition to the above-mentioned public institutions, one should look at what private banks and NBFCs have to offer. the following have been mentioned:  ICICI Bank   Axis Bank   Kotak Mahindra Bank  Charges paid for by Education Loan  Education loans help you cover a variety of expenses. From lab fees to tuition fees, they can help you cover financial woes easily. However, these loans only cover educational costs and are not for personal use. Some of the expenses paid for by the education loan are:  Fees due to the hostel and the college  Examinee costs  Library fees  Laboratory costs  Traveling costs (if pursuing MBA abroad)  If applicable, the student's insurance premium  Buying a laptop (if required for the course)  Other costs, such as travel for research, project work, or a thesis  Acquisition of books, tools, and instruments  Building fund, refundable deposit, and caution deposit  If you want to know how much loan you need to take and your eligibility, check it out here.  Documents needed to apply for an MBA Education Loan  Address and age verification if you do not already have a bank account  copies of the qualifying exam score reports (CAT, GMAT, IELTS, TOEFL, and others)  A schedule of the course's costs (course prospectus where the course fee is mentioned)  Statement of the borrower's or co-bank borrower's account for the previous six months  Income tax assessment orders for students or parents that are no older than two years  A concise list of the borrower's assets and liabilities  Copy of a passport Loan application in bank format  Evidence of enrollment in the course (in India or abroad)  Passport-sized pictures  Don’t let finances stop you from achieving your dreams, get an education loan to pay for your college with us!