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How to choose abroad education loans?

How to choose abroad education loans?

261,406 Indian students studied abroad in 2022, according to the Ministry of External Affairs, and more students are anticipated to enroll in top-notch programs next year.  The best way to pay for studying abroad is often thought to be through student loans. Loans for studying abroad come in a variety of forms. Let's learn about them and help you choose your best option. Types of education loans  Let's first explore the two major forms of education loans accessible to international students who want to study abroad through collateral-free education loans: 1. Collateral education loan  To get the required loan amount for a collateral education loan, the borrower must pledge collateral (such as a house, property, gold, insurance policies, land, fixed deposits, etc.) as security. Collateral loans can further be divided into three categories; Immovable property: This comprises buildings, flat surfaces, uncultivated land, and areas with well-defined borders. Liquid security: This covers LICs, government bonds, fixed deposits, etc. Third-party collateral: Only government and public banks are covered by this law. In this situation, if a candidate lacks the necessary assets listed above or is unable to provide the value to match the necessary loan amount, they may pledge the asset of a third party as collateral. In essence, the term "third party" refers to those who are not members of the candidate's close family. For instance, the candidate's uncle, aunt, pals, or the major co-applicant, etc. 2. Non-collateral education loan  The borrower of an education loan for international studies without collateral is not required to provide collateral as security, in contrast to an education loan with collateral. In the case of an education loan without collateral for abroad, borrowers are required to submit documentation and fulfill relevant requirements and eligibility criteria. Types of education loans based on lenders The following are the different types of education loans based on lenders:  1. Loans from Public-Sector Banks In India, public-sector banks or government banks give education loans to those who want to study abroad mostly based on collateral that is given as security. Government banks offer unsecured loans to students for INR 7.5 lakh. Applicants must offer collateral as security for sums more than this. Compared to commercial lenders, public sector banks provide lower interest rates. Section 80E offers tax advantages for government bank student loans. Major public-sector banks that provide loans for international schooling include: State Bank of India Bank of Baroda Punjab National Bank Union Bank of India 2. Loans from Private Banks Both secured and unsecured loans for study abroad are available from private Indian banks to students. The amount that may be approved depends on several variables, including the applicant's profile, the co-applicants financial situation, the nation, the course, etc. Private-sector banks provide better interest rates than NBFCs and foreign lenders, but they are higher than government banks. ROI generally begins around 11% annually. Private bank student loans are also eligible for Section 80E tax advantages. Compared to government banks, private banks require less time to approve an education loan. Several of the largest private sector banks providing loans for international schooling are: ICICI Bank Axis Bank 3. Loans from Non-Banking Financial Companies (NBFCs) NBFCs provide unsecured and secured student loans for international studies. The maximum loan amount that can be approved varies depending on several variables, including the applicant's profile and the financial status of any co-applicants. When compared to commercial banks and government banks, the interest rates on loans from NBFCs are on the higher side. The interest rate for NBFC education loans normally ranges from 11.5% to 16% per annum. NBFC education loans do not qualify for Section 80E tax advantages. Compared to government banks and commercial banks, NBFCs require less time to complete an education loan. Some of the largest NBFCs providing loans for international schooling include: HDFC Credila Avanse  InCred Auxilo https://www.youtube.com/watch?v=4gTQkdePOWM&feature=youtu.be&ab_channel=EduFund How to choose the right abroad education loans for higher education?  Research and thorough comparison are necessary while selecting the best education loan for higher education. Before choosing an education loan, compare the interest rates and repayment options offered by several institutions. You may also get in touch with an expert. They can assist you in negotiating a lower interest rate and in organizing your repayment plan to help you save money. Before choosing to take out an education loan, ascertain how much money you require to fund your higher education. Our College Cost Calculator will help you determine how much additional money you'll need to live comfortably in your college city by providing you with information on the tuition and living costs there. In the modern, dynamic world, a good education is crucial because it gives students more self-confidence and gives them the tools they need to live their best lives. Therefore, although taking out a loan first seems scary, as long as the student is dedicated and makes the most of the opportunity, it will ultimately pay off. Consult an expert advisor to get the right plan TALK TO AN EXPERT
Pros and Cons of using abroad education loans to finance studies

Pros and Cons of using abroad education loans to finance studies

The expense of attending your dream university is already high due to the rising cost of education. Recent research found that the price of contemporary education is rising quickly, on average, by 12 – 18% annually. Given this, obtaining an education loan for your child's future is unquestionably the finest choice without sacrificing the caliber of their education. This blog will discuss the pros and cons of using education loans abroad to finance your studies. Pros of using education loans abroad to finance studies The following are the benefits of study abroad education loans:  1. Tax benefits on education loans  One of the most significant benefits of an education loan taken out for courses in India and abroad is the tax benefit. Spending less money and giving your kids a brighter future is a fantastic method. This is one factor that favors student loans over self-financing for educational expenses. Section 80E of the Income Tax Act of India allows applicants for education loans to deduct interest paid on loans, decreasing the interest rate. The deductions allowed by this section may be made for eight consecutive years, starting with the year the loan is taken out and continuing until the loan's interest is entirely returned, whichever comes first. It should be emphasized that these deductions only apply to loans obtained from financial institutions that have been gazetted. Any Indian citizen may deduct the interest paid on any school loans they have taken out for themselves, their spouses, their children, or any other children over whom they have legal custody. It should be emphasized that Section 80E tax deductions do not apply to student loans obtained from friends and family. 2. Upto 100% expense coverage During their higher education abroad, students frequently incur additional costs in addition to the tuition fee. One-time registration fees, library dues, lab and equipment fees, housing costs, and other personal expenses are a few of these costs. Most students have access to full education loans, which also give them money to live healthily while studying abroad. This frees parents and students from worrying about money, and fast tuition payment to the university or institution ensures that a student's study term will go without any problems. 3. Education loans will help you build your credit score Yes! Students and recent graduates may improve their credit ratings by wisely using student loans. Student loans may be the only opportunity to establish their credit history because many college students need other payments or debts attached to their identities. Throughout the remainder of your life, having a decent to an exceptional credit score will be helpful when you apply for jobs, credit cards, apartments, and even purchase a house. But to take advantage of these fantastic advantages, you must use student loans properly.  https://www.youtube.com/watch?v=4gTQkdePOWM&feature=youtu.be&ab_channel=EduFund Cons of using education loans abroad to finance studies The following are the few disadvantages of study abroad education loans:  1. You have to start your career with debt You will begin your adult life in debt if you rely on student loans to pay for your education. Yes, having a college degree may enable you to earn more overall than someone with merely a high school graduation. However, depending on how much you borrow, it might be difficult for the first few years after college, particularly if, like millions of other college graduates, you need help finding a job that compensates enough to cover your expenditures.  2. Defaulting on your education loans can tank your credit score Missing payments, defaulting on student loans, and taking on more debt than you can afford to repay after graduation can all have a major negative effect on your credit score or co-borrower's credit score. The worst case scenario is defaulting since it indicates that you could not repay the loan you received from a lender. 3. Education loans might not cover all your expenses Most federal student loans have yearly borrowing caps, and some private lenders could also. You might still need to hunt for additional sources of income to finish your degree, depending on the cost of tuition, fees, materials, lodging and board, and other expenditures. How to choose the right education loan for higher education?  Research and thorough comparison are necessary while selecting the best education loan for higher education. Before choosing an education loan, compare several institutions' interest rates and repayment options. You may also get in touch with an expert. They can assist you in negotiating a lower interest rate and organizing your repayment plan to help you save money. Before taking out an education loan, ascertain how much money you require to fund your higher education. Our College Cost Calculator will help you determine how much additional money you'll need to live comfortably in your college city by providing information on the tuition and living costs there. And make sure you've done your research, decided which course of action is best for you or your child, and then finalized a sound education strategy to create a bright future! Consult an expert advisor to get the right plan TALK TO AN EXPERT
Parent's guide to education loans

Parent's guide to education loans

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

Tips to consider before applying for an abroad education loans

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

How to compare abroad education loans?

One of the most complex problems might be taking out an education loan for overseas studies, primarily if exorbitant interest rates support it. Therefore, your priority should be to look for solutions that allow for fewer EMI payments and a cheaper interest rate before approaching a study abroad education loan. In this article, we'll talk about how to compare and negotiate with lenders over the conditions of student loans for international study. How to compare abroad education loans You may compare your student loans for international study from several lenders based on the following criteria: The rate of interest: ROI significantly impacts the overall sum you will have to pay back to the bank. Before you sign anything on the dotted line, examine the ROI since even a 1% change will significantly influence the amount of interest you pay overall. Additionally, students should determine if their ROI is fixed or floating. Moratorium period: Most lenders provide a moratorium period during which the student is exempt from loan payments. Compare the terms of the moratorium period carefully because they vary from lender to loan. Processing fee: Comparing the processing price is also a wise decision because a lender might impose a processing fee that ranges from 0% to 5% of the loan amount. Imagine obtaining a loan for INR 40 lakhs with a processing charge of 5% instead of INR 2 lakhs without a processing fee.  Penalty on prepayment: Another crucial comparison on our list is this one. On student loans, lenders impose prepayment penalties ranging from 2% to 4%. Knowing the prepayment fees can help students plan their repayment more effectively because many want to prepay their loan balance to prevent future interest costs.  Interest subsidy scheme: If the interest subsidy program covers the loans they are evaluating, students would also compare those loans. Loan tenure: The total interest paid to the bank would grow with a longer loan term. So choosing a shorter loan term would be the better choice. https://www.youtube.com/watch?v=4gTQkdePOWM&feature=youtu.be&ab_channel=EduFund How to negotiate the terms of abroad education loans from different lenders The following advice can help you bargain for a lower interest rate on your student loan: Build a strong profile: Your academic history and the institution you want to attend or decide to study at should be carefully considered if you are applying for higher education since they will significantly impact the interest rate. Try to maintain an attractive profile so that banks will be prepared to offer cheap interest rates on loans since they are confident in your ability to pay the money back. The major financial institutions for studying abroad consider your GPA, your GRE or GMAT score, your course of study, your level of study, your university, and the country where you will be enrolled. Please do your research: Before requesting a reduction in the interest rate on your student loans abroad from the bank, it is sometimes preferable to complete your research. Consider whether you can offer security or the income of your co-signer. You may also use factors like the length of your payback period to your advantage when negotiating interest rates with banks. Additionally, it's crucial to compare the interest rates offered by different banks and NBFCs and identify the lowest ones so that you may use their names to bargain with their rivals. There is a potential that you may prevail in the negotiation if your profile is impressive. Apply early: Before earning admission to a college, it is always advised for students with strong GRE scores to apply for study abroad education loans from banks. This benefits them by allowing them to evaluate other banks and provides them more time to bargain for a low-interest education loan from a foreign country. Applications for student loans abroad submitted at the last minute might have been a better option. Calculate the expenses carefully: Because the loan size can significantly affect the processing fees, it is crucial to estimate your costs before making any final decisions. You may also select an unsecured loan option if you correctly calculate your spending because they provide fewer loans. Balance Transfer: Sometimes, it makes sense to switch banks for your school loan since, after refinancing, the bank you would be moving from could offer you a cheaper rate, which might save you money. Additionally, you might need to transfer your mortgage in some circumstances, which could allow you to benefit from a cheaper interest rate. Most people take out their first loan before making a living for educational purposes. The borrower's credit history is so significantly influenced by it. So, it is advisable to properly compare and negotiate the terms of your education loan Consult an expert advisor to get the right plan TALK TO AN EXPERT
Education loan rates in India

Education loan rates in India

Education is the birthright of every child, but how many children can afford it in these turbulent times when education costs continue to rise? Gradually getting a good education is becoming a dream that only the upper-middle class or rich people can afford.  So, what happens to the students from lesser backgrounds who want to break the shackles of poverty through education? Well, building an education fund is an ideal option, but if they can’t reach their goal in time, an education loan is a great option. It can be repaid slowly within a stipulated time frame.  Leading government and private banks, cooperatives and NBFCs are offering loans at reasonable rates; hence it seems sensible to apply for it especially when the terms and conditions are aligned with your interests. Average education loan rates The average education loan rate in India is 11% if the student wants to study here. It increases to 12.5% if the student is interested in attending a foreign university.  Education loan rates Comparing the top education loan offers in India in 2023 The Reserve Bank of India in September 2022 hiked the repo rate to 5.9%, which resulted in an increase in ROI on loans. Let us compare the education loan rates in India of some of the public as well as private sector banking institutions to get a clear picture of the type of plan that will suit your personal preferences NameNational InstitutionsROI (%)International Institutions ROI (%)Processing FeesPunjab National Bank8.65% - 9.90%10.65% - 11.40%Nil – 1%State Bank of India7.95% - 10.55%10.55%Nil – INR 10,000Axis Bank13.70% - 15.20%13.70% - 15.20%Up to 2%Bank of Baroda10.50% - 11.85%10.25% - 10.90%Nil – 1%ICICI Bank9.5% onwards9.5% onwardUp to 2%Bank of Maharashtra8.85% - 10.70%10.35% - 10.70%Nil – 0.50%Federal Bank11.95% onwards11.95% onwardsNABank of India10.45% - 11.25%As ApplicableNil – INR 5,000Canara Bank8.8% - 10.80%10.40% - 10.90%0.50%Kotak Mahindra BankUp to 16%Up to 16%NA How do banks calculate education loan rates in India? Education loan rates of the lending Institutions depend upon several critical factors. These are- 1. University If the college or university that the student is getting admitted to has a record of good placements, then most banks would be willing to sanction loans at a lower interest rate. 2. Academic record The academic record of a student matters a lot because if a student has been able to maintain very good grades throughout their academic career, the chance of getting a loan at low-interest rates becomes high. If the record is average or below average, the chance of loan approval becomes less, and the rate of interest will be comparatively higher. 3. Collateral Secured loans or loan applications where the applicant can provide collateral have lower ROI compared to unsecured loans without collateral.  4. Credit score of the co-borrower If the co-borrower has a low credit score, then the chance of the loan application being rejected or an increased rate of interest becomes high, whereas a good credit score will secure the loan quickly at low interest. https://www.youtube.com/watch?v=4gTQkdePOWM&feature=youtu.be&ab_channel=EduFund Education loan through the EduFund app Edufund is one of the leading apps that helps students with easy education loans. Students can access loans up to an amount of 1 crore to study in either India or a foreign university. The service is free, and there are no hidden charges that can later come to haunt you.  Through the Edufund App, you have direct access to its NBFC partners and banking institutions like Axis Bank, HDFC Bank, MPower Financing, ICICI Bank, etc., so that the loan approval process becomes quick and easy.  The best thing about getting a loan through the app is that collateral is not needed for loan amounts up to INR 75 Lakh. The icing on the cake is that the higher the amount of the loan, the lower the interest rate you have to pay.  The education calculator on the site is a blessing in disguise as it helps to calculate the required sum with some simple steps within a few seconds. Income Tax benefit on education loans Applicants should know that the interest amount and not the principal part that an individual pays on an education loan can be claimed as a deduction under Section 80E of the Income Tax Act of India 1961. The exemption is for a maximum of 8 years or till the date when the interest is paid, whichever is earlier.  Conclusion It is vital to know about the education loan rates in India to make comparisons and understand where to apply and how to get the minimum rate of interest on the loan amount. Consult an expert advisor to get the right plan TALK TO AN EXPERT
Everything you need to know about education loans

Everything you need to know about education loans

A full and fruitful life necessitates a high-quality education. For several, it is the equivalent of graduating from a prestigious university. However, the cost of education is increasingly rising. In reality, the price of attending a reputable university is already very high. Parents who plan their child’s education in advance and want to provide them with the best opportunities possible to invest their money in mutual funds (MFs), fixed deposits (FDs), and unit-linked insurance policies (ULIPs). However, amid all of this, there could be a financial shortfall. In such a situation, an education loan plays a critical role in bridging the gap between the amount in hand and the total amount needed. According to research, education costs are rising at a rate of 15% per year on average. In 15 years, the cost of an MBA is expected to rise from Rs 2.5 lakh to Rs 20 lakh. So, if a couple saves Rs 2,500 per month for 15 years at a rate of 12%, they would have saved about Rs 12.5 lakhs. Now, you all must have some questions in your mind regarding the intricacies of availing of an education loan. We have tried to answer a few commonly asked questions to enhance your understanding 1. Who can apply for the loan? The primary creditor is a student. A co-applicant may be a parent, partner, or sibling. 2. What is covered by a student loan? It includes the basic course fee and other costs such as (college) housing, exams, and other miscellaneous expenses. https://www.youtube.com/watch?v=4gTQkdePOWM 3. To whom is the loan being extended? It is available to students who wish to study in India or further their education outside of the country. The overall sum available for studies in India and abroad differ from one bank to the next. 4. For what courses can the loan be availed? It is available as a full-time, part-time, or vocational course leading to graduation or post-graduation in engineering, management, medical, hotel management, architecture, and other fields. 5. What are the eligibility criteria and documentation requirements? To be eligible for the loan, one must be an Indian citizen who has been accepted into a college or university that is recognized by a competent authority in India or abroad. The applicant must have completed his senior high school education. Some banks provide a loan even before a student has been accepted to a university. The Reserve Bank of India (RBI) guidelines state that there is no upper age limit, but some banks may impose them. Additional documents such as the institution's admission letter, fee structure, and Class X, XII, and graduation (if applicable) mark sheets are required by the banks. The co-income applicant's records, such as salary slips or income-tax returns (ITR), are also needed. 6. Is collateral required for financing the loan? Depending on the number, banks will fund up to 100% of the loan. There is currently no margin money available for loans up to Rs 4 lakh. To study in India, the applicant must contribute 5% of the necessary funds. The needed margin money for international studies, on the other hand, rises to 15%. Banks may also need collateral for loans exceeding Rs 7.5 lakh. For loans up to Rs 4 lakh, financial institutions currently do not need any collateral or third-party guarantee. A third-party guarantee is required for loans between Rs 4 lakh and Rs 7.5 lakh. For loans exceeding Rs 7.5 lakh, a security deposit is required. According to the fee structure, when a loan application is approved, the banks send the funds directly to the college or university. 7. What is the rate of interest charged on the education loan? To set an interest rate, banks use the Marginal Cost of Funds based Lending Rate (MCLR) which in India ranges anywhere from 7% - 8% plus a spread (about 1-2.5%). The additional distribution is currently in the 1.35-3 percent range (as of 2017). 8. What is the process of repayment? The individual availing the loan for their education is responsible for repaying the loan. In most cases, repayment begins when the course is completed. Some banks also give you a six-month grace period after you get a job or a year after you finish your studies before you have to pay back your loan. The repayment period is usually between 5 and 7 years, but it may also be extended. The bank charges a basic interest rate on a loan over the repayment period. The student's equated monthly installment (EMI) burden for future repayments is reduced by paying basic interest during the course duration. 9. What precautions should one take while applying? When availing of the loan, one must consider bank fees such as transaction fees, pre-payment fees, late EMI payment fees, and so on. The majority of lenders charge a processing fee of 0.15 percent of the total loan amount. 10. Are there any tax benefits? The interest paid on the repayment is deductible under Section 80E of the Internal Revenue Code. This tax benefit is only available to people who are paying interest on a personal loan. The whole amount of interest charged is deductible from your taxable profits. This deduction can be taken for up to 8 years. There are no tax deductions available for the principal sum. FAQs What is an education loan? An education loan is a type of loan given to students who wish to pursue higher education but fall short of finances. Its primary goal is to help students sponsor their higher education. The eligibility criteria for education loans is simple, it requires students to be above the age of 18 and must have an offer letter. Is collateral required for financing the education loans? There are two types of education loans, one with collateral and the other one is without collateral requirement. Depending upon the loan amount, banks may require the applicant to submit a collateral as security. Loan below 4-5 lakhs do not require collateral, however, the policy may differ based on the issuing party. What are some precautions one should take before taking an education loans? When availing of the loan, one must consider bank fees such as transaction fees, pre-payment fees, late EMI payment fees, and so on. The majority of lenders charge a processing fee of 0.15 percent of the total loan amount. Conclusion Good education is extremely important in the present dynamic world which not only boosts self-confidence in students but also equips them with skills that in turn help them lead their best lives. Hence, taking a loan might look frightening but in the long run, it definitely pays off provided the student is focused and makes the best of the opportunity. You can fill in a simple form to get started with your education loan application. Also, since an education loan is a person's first loan, it aids in the creation of a good credit score. If you repay the loan on time and without defaults, it would be easier for you to obtain a home loan, car loan, or any type of loan in the future. Consult an expert advisor to get the right plan TALK TO AN EXPERT
Is it worth taking an education loan?

Is it worth taking an education loan?

Introduction The common myth about student loans is that they apply to only students who come from underprivileged family backgrounds. While education loans are crucial for meritorious students from not-so-well-to-do families, they can be a go-to event for families that can afford to pay for their kid’s education. You might wonder, why go for education loans when you have the money? Well, as understated as they are, education loans can help you inculcate some healthy monetary habits. They can help you compartmentalize your finances quite efficiently. Moreover, they come with a range of benefits.    https://www.youtube.com/watch?v=4gTQkdePOWM a) Putting away pressure from other savings  A household runs on a variety of expenses, which is why it is so important to break these down. You can categorize your monthly income into expenditures and savings. When you compartmentalize, you can have some level of clarity on how much you would like to put away as savings. Saving for your child’s education is a brilliant idea but it is not entirely opposed to applying for education loans. This means that savings and loans are not alternative methods of securing your child’s education. In fact, they can go hand in hand in helping you manage your finances most effectively.  For example, covering all of the expenses related to your kid’s education it can take away all the strain on your savings and investments. You will no longer be required to liquidate your fixed deposits and mutual funds before their maturity period.  b) Financial disciplining  Having money put away for your child’s education is a great decision on your part but that should not come in the way of your child learning to be self-dependent. In fact, education loans are a great way to teach your kid to manage their own finances.  It is a great start to the art of setting financial goals and meeting them no matter what. This kind of financial discipline can go a long way in teaching them to be responsible beings as they grow up.  c) Creditworthiness & its rewards  Student loans are a great way to build credit. With the increasing credit score, your child will be qualified for future loans of this nature. It will instill self-belief in them regarding their capacity to be self-sufficient.  With education loans, you get to borrow money at relatively lower interest rates. On top of that, an impressive credit score makes your child more qualified to avail of future credits at low-interest rates.  d) Crucial if you are planning to go abroad  Education loans are particularly useful if the plan is to go out of the country for higher education. Global education takes into account not only tuition fees as an expense but also the cost of living, among other things. You should also consider that the value of the Indian currency has been depreciating for many years against most foreign currencies like the US Dollar. As such, the cost of sending your child abroad becomes exponentially high when weighed against the cost of sending them to a different city in India for higher education.  Thus, in most cases, your savings will not be adequate to support your kid’s education abroad, unless you have been saving for a child's education from an early age. If the candidate is worthy enough of the financial support, student loans are not only easy to avail, of but also within the capability of students to pay off simultaneously as they receive their degrees from reputed institutions abroad. e) Tax benefits  Last but not least are the tax benefits that come as an added advantage to availing of education loans. Under Section 80E of the Income Tax Act of India, the interests paid on education loans can be claimed as deductible. This means although tax benefits can not be applied to the principal amount of a loan, one can be exempt from paying the interest amount. Once your taxable income has been evaluated, you can avail of this tax benefit on your interest money without any higher caps. Such benefits are usually availed either by the candidate who is pursuing an undergraduate or postgraduate course or by their legal guardian.  FAQs Is it wise to take a student loan? Yes, it is wise to take a student loan if it can help you sponsor your education or your child's education. Depending upon the interest rate, the repayment horizon and the ROI of your course, you can determine whether or not you can afford the EMIs on your salary. What are the benefits of availing an education loan? The biggest benefit of availing an education loan is the ability to finance your studies. It helps students across the global pay for college and build a career for themselves. Other benefits of taking an education loans are affordable interest rates, grace period and repayment flexibility for students, tax benefits, helps builds credit and helps you save your savings for other financial goals. What are the disadvantages of education loan? There are many disadvantages of education loans - High interest rates and costly EMIs Loan repayment can last up to 15 - 20 years Students have to pledge collateral if the amount is higher Non-payment can lead to heavy penalties and affect your credit score Can induce stress and increase student debt in case of non-payment Conclusion Education loans are definitely a good idea because they can ease up not only your child’s educational path but also their prospective career routes. There are various kinds of education loan schemes available in the market. The things that you must consider while making this choice are low-interest rates, tax benefits, credit limits in the case of global education, and so on. Weigh your options carefully while choosing the best one for you.
Ultimate guide: Education loan for studying in the USA

Ultimate guide: Education loan for studying in the USA

Education loans for the USA have become a necessity because the cost of studying abroad is incredibly expensive. Every year Indian students travel to the USA to pursue their education at the top universities. Only some of them manage to arrange the funds, as the rest of them have to rely on education loans.  Several banks and NBFCs in India are offering education loans to interested students at reasonable rates to study in the USA.  It is essential to note that most banks do not provide 100% money for funding overseas education as 10% of the total amount has to be arranged by the aspiring student. Before applying for the loan, students should check the website of the desired university and know about the living expenses and fee structure to determine the actual amount they will need. They can use the loan eligibility calculator on the EduFund app to get a better idea about the amount they would be eligible to receive from a bank. https://www.youtube.com/watch?v=4gTQkdePOWM Education loans for the USA offered by banks  HDFC Bank Education Loan for Foreign Education – The scheme offers tax benefits, and the maximum loan amount offered is INR 20 lakhs. Oriental Bank of Commerce Education Loan for Study in India and Abroad – The loan amount depends on the fee structure of the university. SBI Student Loan Scheme – The maximum loan amount offered under this scheme is INR 1.50 crore, repaid within 15 years. Collateral is a must if the loan amount is more than INR 7.5 lakhs. Education loans for the USA offered by NBFCs Credit – the loan is offered at a floating rate of interest for 10 years. Avanse – interest rates are floating, and the processing fees are between 1 – 2% of the loan amount. Global Student Loan Corporation – this scheme does not require a co-signer. Eligibility of education loan for the USA The applicant must be a citizen of India. The co-applicants must be Indian citizens. The applicant must be 18+ years and above. Confirmed admission to a credible university in the USA. Strong academic record. Banks give preference to students studying technical or professional courses. Documents required to apply for an education loan Properly filled the application form. Admission letter from the university. The estimated cost of study. ID proof of the applicant and co-applicant. Address proof. Passport-size photographs. Income proof. Passport copy. School and university mark sheet. Documents of the qualifying exams like TOEFL, GMAT, etc. Foreign exchange permit letter. A brief statement of the assets and liabilities of the co-borrower/ guarantor/parents. Expenses covered under the education loan Tuition fees. Hostel fees. Caution fees. A refundable deposit and building fund. Laboratory, library, and examination fees. Cost of uniforms, books, instruments, and equipment. Cost of laptop if required. Traveling expenses. Insurance premium if applicable. Other expenses like projects or study tours. Repayment of education loan The terms of repayment of the education loan for the USA start after six months or one year once the borrower has secured a job or their course is complete, whichever comes first.  Tax Benefits Loan applicants can claim tax benefits and deductions only on the interest paid for seven consecutive years and not the principal loan amount under Section 80E of the Income Tax Act.  Additional read: Education loan for studying in Canada Factors to keep in mind before applying for the education loan Finalize the course and the university where you want to study.  Check the appropriate website to know about the required amount. Factor in all the expenses. Get an estimate of the total loan amount you will require. Make a list of required documents. Select a guarantor or a co-signer. Estimate the time of disbursement. How to apply for an education loan  The process of securing an education loan is time-consuming, so it is advisable to apply at the earliest possible moment.  Visit the representative of the financial institution. Check whether the study course is recognized as valid. Compare the loans provided by different banks and NBFCs based on the following parameters. Interest rate. Processing fees. Tenure or loan processing time. Expenses that are included in the education loan. Loan margin. Repayment terms. Start the education loan process immediately after submitting the application form for admission to the university.  Apply for the education loan at least three months before the date of the visa interview, as it takes time to process the education loan.   Conclusion An education loan from the USA is the best possible alternative for students who are unable to procure the required funds or scholarships for their studies in an overseas country. It helps to overcome the financial barrier of funding.  Our experts on the Edufund app can help with loan schemes up to 1 crore both in the USA and India so that you can make an informed choice. Choose from banks and NBFC partners where you do not require collateral for an amount up to INR 75 lakhs. The loan rates are low, and there are no hidden charges for a hassle-free loan approval process. Consult an expert advisor to get the right plan TALK TO AN EXPERT
Ultimate guide: Education loan for studying in Canada

Ultimate guide: Education loan for studying in Canada

The demand for education loans for Canada is quite high all over the world, especially amongst Indian students who aspire to pursue their education overseas.  Top-grade universities and colleges in Canada, unique curriculum, numerous options in diploma and degree programs, diverse exposure to an enchanting country and its culture, and excellent career opportunities lead to dynamic student life, which is preferred by the new generation.  There are several financial institutions like banks and NBFCs in India that offer education loans at reasonable rates to study in Canada. Top universities and their fees Canada is an ideal destination for studying abroad because it is home to some of the best universities in the world. The costs of a few of the top universities for an entire course are as follows- University of Ottawa - $31,444 (nearly INR 25 lakhs). McMaster University - $31,770 (nearly INR 25.64 lakhs). University of Winnipeg - $23,695 (nearly INR 18.8 lakhs). University of Manitoba - $22,000 (nearly INR 17.5 lakhs). Dalhousie University - $10,000 (nearly INR 7.9 lakhs). Brandon University - $7,203 (nearly INR 5.7 lakhs Types of education loans Education loan for Canada with collateral – The applicant has to provide collateral in the form of tangible assets (land, flat) and non-tangible (FDs, life insurance) to secure an education loan.  Loan without collateral – The applicant does not have to give any security as collateral, but there should be a co-applicant to minimize the risk.  Study courses covered under an educational loan Diploma course. Undergraduate degree. Doctorate programs. Postgraduate degree. Vocational course. Skill development course. Expenses included in the education loan Tuition fees. Hostel fees. Caution deposit. Traveling expenses. Library, laboratory, and examination fees. Cost of books and uniforms. Cost of laptop if required. Expenses for study tours or project work if required. Top Banks, tenure, rate of interest, and maximum loan amount Eligibility criteria for an Indian student The student should be a citizen of India. They should be 18 years and above (in case the student is shy of 18+ the loan will have to be secured in the parent's name). Must have a good academic record. The intended course should be valid. The admission should be to a recognized university in Canada Documents required for applying for an education loan in Canada Financial institutions need to verify the details provided by the applicant through the following documents- Properly filled-out loan application form. Photo ID proof of the applicant and co-applicant like Voter ID, Aadhaar card, PAN card, etc. Passport-size photo of the applicant and co-applicant. Residence proof like Aadhaar card, electricity bill, etc.  Result of entrance test. Letter of admission. Statement of cost of admission. Marksheet of qualifying exams. GRE/GMAT scores. Income proof of the applicant. Bank statement of the last six months of the applicant and the co-applicant. Property title deed in case of collateral Repayment terms Repayment begins after 6 months or one year once the study course is complete or the loan applicant is hired for a job, whichever comes first. The tenure is pre-decided, and the loan amount has to be paid accordingly.   Tax Benefits Applicants can claim tax benefits under Section 80E on the interest paid on the full amount of the education loan for Canada and not the principal amount. The benefits can be claimed for seven consecutive years starting from the date of repayment.  https://www.youtube.com/watch?v=4gTQkdePOWM How to get an education loan in Canada? Visit the official website of the financial institution or conduct a one-on-one interview with the representative to know the details about the education loan for Canada.   Check whether the selected course is recognized by the bank. Figure out how much loan amount you can get, the tenure, and the rate of interest.  Compare the details with other banks. After finalizing, submit the necessary documents. It takes nearly 15 days for the application process to complete. Conclusion  Education loan has become a necessity in recent years as it helps aspiring students with the required funds at the earliest.  The Edufund app ensures 100% transparency and a secured transaction for students interested in getting an education loan for Canada. It has a strategic partnership with financial institutions like Axis Bank, ICICI Bank, MPower Financing, etc., that enables students to get the lowest rates, door-step service, hassle-free process, and a better chance of loan approval. Consult an expert advisor to get the right plan TALK TO AN EXPERT
What is the moratorium period in education loan?

What is the moratorium period in education loan?

Education loans have emerged as a much-needed motivation for students who want to pursue higher studies but are constrained by financial issues. Even students who could afford their higher education on their own now opt to take out student loans. This is due to the fact that an education loan may enable you to maintain your own funds for unforeseen expenses, as well as enable you to receive tax benefits and raise your CIBIL score. What is the moratorium period for an education loan? The duration of a borrower's exemption from loan repayment is known as the moratorium period. Loans taken out for education are subject to this repayment holiday. All government bank education loan programs are required by the Reserve Bank of India to provide a moratorium or grace period on loan repayment. Like other loans, an education loan has an interest rate attached to it. This interest starts to accrue the first month after the student loan is approved. However, government banks are required to grant borrowers of education loans a repayment holiday. This indicates that during the designated moratorium time, students are not required to pay back the interest. It should be kept in mind that during this time, the interest is not waived but simply deferred. When loan repayment begins, students will have to pay this accrued interest (split equally). Despite the fact that each bank has its own terms and conditions, most financial institutions offer a moratorium period of one year after the completion of the program. https://www.youtube.com/watch?v=4gTQkdePOWM How do the grace period and moratorium period differ? A grace period and a moratorium period are frequently confused in the market. It is critical to understand that a grace period is a predetermined period after payment is past due during which, the payment may be made without incurring a penalty. On the other hand, a borrower is not required to make payments during a moratorium period. Additional read: Find the best education loan for your child What are the benefits of an education loan moratorium period? Let's examine some of the benefits of the repayment holiday. With an education loan, the student will have less financial stress while they are studying. The student can focus on their academics without having to worry about money during this grace period because the bank does not impose any penalties for non-repayment. After completing the program, individuals can focus all of their efforts on finding a career that suits them within a year of graduation without having to worry about debt payback for a year. Throughout this time without repayment, the student's credit score is unaffected. During the moratorium period, the parents, who are typically co-borrowers of student loans, are not required to make any repayments. Additional read: Budgeting tips for parents Is there a downside to the moratorium period? The moratorium term on student loans, like every coin, has both advantages and disadvantages. As was previously noted, the interest is delayed rather than waived during this time. As a result, it basically accumulates and the student is then required to pay it back. Due to the absence of payments during this period, the loan duration may somewhat lengthen. Some financial institutions impose simple interest throughout the study period and compound interest during the moratorium period, which raises the overall amount of interest that has accrued. Despite its many benefits, the most straightforward approach to get around the moratorium periods’ drawbacks is to begin payments as soon as you can. Perhaps, even while you're still in school with the help of a part-time job. What is the moratorium period for the various Indian banks? Lenders have different moratorium periods. On the basis of the different types of lenders, we may broadly divide this period. The moratorium of various lenders is as follows: Public-sector Banks: Government banks often have a moratorium period of the course period plus six months. During this moratorium, there are no payments that students are required to make. Private-sector Banks: In private banks, the moratorium term is often the course period plus 12 months. However, throughout this moratorium time, the borrower must pay a certain sum of simple interest. After the moratorium period, installments beginning with a portion of the principal amount will be made. NBFCs: Typically, an NBFC's moratorium period is equal to the course period plus an additional 12 months. However, during this moratorium time, the borrower must pay a simple interest sum or some partial interest (determined and disclosed throughout the loan process). After the moratorium period, installments that include some of the principal amounts begin. Conclusion A moratorium period is a great way to reduce the pressure of repayment on a student while studying. It's crucial to remember that this time period does not come with interest. As a result, the interest charged on the remaining balance of an education loan will be lower the earlier a student begins loan repayment. If there is any confusion regarding these financial issues or if any information or guidance is required, our team of financial advisors is constantly available for you. Consult an expert advisor to get the right plan TALK TO AN EXPERT
How much should you borrow in student loans?

How much should you borrow in student loans?

Student loans (commonly known as education loans in India) are a financial tool to help students pursue higher education. The biggest question to ask before availing of any loan is how much should you borrow in student loans. This is because taking on a loan is a huge responsibility; you need to pay the monthly installments on time and make sure that your debt remains a manageable amount that you can easily pay off.  What is the ideal amount you should borrow in education loans? Ideally, the loan amount should be 25% of the total loan amount you require for your education needs. For instance, if you want to study in Canada at the top universities then you may require a corpus of Rs. 50 to 60 lakhs to fund your overall education.   As a student, managing this kind of expense is tough and you may be tempted to borrow the entire amount so that you can later pay back the loan once you have a high-paying job. However, most education loans last 10 to 15 years, and shelling out EMIs every month can be tough. So here are some questions you must ask yourself before taking on a loan and deciding how much you should be borrowing in student loans:   What is the ROI of the program?  Does the university offer any placement assistance?  Will you be able to manage the interest hikes?  How much should you borrow vs self-finance?  https://www.youtube.com/watch?v=4gTQkdePOWM What is the ROI of the program?  Taking on a loan is a big responsibility. It means you must understand the return on investment (ROI) of your degree. It means you have to ask yourself some hard questions like is your selected course good enough to get you a job in the next 6 months? Will your starting salary cover your EMI comfortably? Are your loan and the interest charged on it a justifiable investment for your degree? These are some important questions you must be able to answer before deciding on a student loan and how much you should borrow in education loans.  Additional read: Education loan process for the UK Does the university offer any placement assistance?  Once you take on an education loan, you have to ensure that your degree can help you land the job of your dreams. The salary should be enough to take care of all your needs, including the EMIs that will start once your moratorium period for the education loan ends. Find out if the university you are considering offers placement assistance. What is the past record, where are your alumni members, and what was the average salary base for your previous batch?   These are some questions you need to answer and find before you take on the burden of a loan.   Will you be able to manage the interest hikes?  Inflation is a part of every economy and government attempts to keep it in check affect the interest rates charged by banks. There will be situations where interest rates are hiked up and your EMI increases. Make sure you are prepared to take on the added responsibility and that you are comfortable in paying the debt off in time and consistently.   How much should you borrow vs self-finance?  Ideally, paying off your education with scholarships, savings and investments your parents have made for your education should be the plan. But in case you do not have enough savings it is good to take an education loan to cover your education expenses. Try to borrow 25% of the total amount. If you want to borrow more then make sure you are doing your research on the course, university and the ROI to help you later pay off the debt easily.  You can also apply for scholarships, look for part-time jobs and create passive incomes to self-finance a portion of your degree even if you take a loan.   Education loans are a great means to finance your degree but just like any other loan, you have to pay it back on time and without any delays. Having all the information can help in the long run. It can also help you decide how much you should borrow in student loans, the type of loans you need to take, whether you should opt for a moratorium or not, and much more.   Always remember, that the bigger the loan, the bigger the time horizon for paying it back. So, try to follow all the steps before making this life-changing decision.  Consult an expert advisor to get the right plan TALK TO AN EXPERT
How to avoid foreign education scams?

How to avoid foreign education scams?

Every year thousands of Indian parents send their children abroad to study in hope of a better future. Planning this mega event is tedious and expensive, any obstacle in this plan can potentially delay your child’s future plans. Scams are one of the biggest obstacles. Let’s find out what are some major foreign education scams and how you can avoid foreign education scams to save money and your child’s foreign education plans. 1. Education counselor scam  Education counselor scams are extremely common in India as the industry has exploded in recent years. More and more parents want to see their child settled abroad and in a reputable university and many take advantage of this desire and hope. Education counselor scammers usually encourage students to apply to universities selected by them, they encourage them to pay deposits and make payments on the behalf of the student. To avoid these scammers, try to be involved in the process and beware of the universities you are applying to.  2. Fake documents   In India, thousands of student visa applications are rejected due to the submission of false documents, fake bank statements, fake gap year certificates, and test scores to dupe the authorities. In fact, the refusal rate for Canadian student visas rose to a whopping 41% this year due to forged documents. Australia rejected over 600 cases due to fake documents.   It's important to know that visa offices screen each document to check students’ eligibility and document authentication. Make sure your counselor is submitting original documents so that your admission is not delayed and your money is saved. 3. Fake Scholarships  Fake scholarships are another common foreign education scams that you must avoid. There are thousands of scholarships available for international students offering monetary relief but not all of them are genuine. To avoid fake scholarships, you must remember never to give money to the authorities. Try to apply only through the official website and make sure to cross-check the history and legitimacy of the organization. 4. University Scam  There are thousands of blacklisted universities in India, the USA, the UK, Canada, and many more countries. The degrees offered by these universities are invalid and these are major institutions that have historically cost parents and children monetary loss and extreme mental stress. Checking the legitimacy of the university by interacting with teachers and current students of the university is an excellent way to know their credibility. For example, Canada university has a list of universities that are recognized and permitted by the government to host international students. These are called Designated Learning Institutions.    5. Accommodation Scam  Accommodation scams are another common foreign education scam that preys on international students. Many international students pay deposits for apartments that are either not available, fake apartments, or sometimes broken. Parents and students lose their hard-earned money to these scams so beware. Many universities have listed apartments, and offer dorm rooms and accommodations to international students that parents can go for. These are trusted partners that help international students settle down.   Many universities offer one year of accommodation to international students on their campus to save them from the hassle of searching for the right apartment so make sure to apply for it on time!  Additional read: Education inflation rate in India? How to avoid foreign education scams?  If your child is applying abroad then it’s important to be involved in the process. Always apply through trusted portals, talk to administrative officials involved in the process and verify all your documents. For instance, if your child is applying to the UK, using the UCAS portal for bachelor's courses is a verified route similarly if you are applying to Canada, check your university’s DLI number given on the Canadian visa website.   Remember universities do not call individual candidates, they update the admission portal created by the student and provide all necessary information on the website. If you are unsure of the process and require guidance then approach a trusted education counselor with a reliable history and a trusted online presence.   Take an active role in your child’s admission process and help them with the application, SOP, LORs, and financial documents they may require. This can help you save your child from making silly mistakes like sharing sensitive bank details or falling for these foreign education scams.   Never transfer money to another account without verifying the source. If you do accidentally transfer, alert your bank immediately (within 24 hours) so that they can retrieve your funds in time.    These are some ways to avoid foreign education scams that can be unnecessary mental and financial stress on you and your child. With foreign education becoming popular in India, knowing these scams and making the right decisions can be very helpful for your family!  Consult an expert advisor to get the right plan TALK TO AN EXPERT
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