I’m trying to plan my finances and budgetting if I fix on a university for my higher studies.
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Indian students going abroad have access to various types of education loans catering to different financial needs. Some common types include:
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Secured Education Loan: These loans require collateral or security to be pledged against the loan amount. Having collateral often allows borrowers to avail higher loan amounts and better interest rates.
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Unsecured Education Loan: Also known as non-collateral loans, they do not require any security. These loans are suitable for students who cannot provide collateral but still need financial assistance.
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Pre-Visa Disbursement Loan: Some lenders offer pre-visa disbursement loans to students who require funds before obtaining their student visa. These loans can help cover initial expenses like tuition deposits and travel costs.
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Post-Visa Disbursement Loan: This type of loan is disbursed after the student has obtained their student visa and confirmed admission to the institution. It covers the remaining expenses for the course duration.
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Loan for GRE/GMAT Coaching: Some lenders provide loans specifically for GRE, GMAT, or other exam coaching to help students prepare for standardized tests required for admission.