Because the informed me in the earlier paragraph, a path movement does not always render a degree. Applicants exactly who attend these programmes must ticket them with levels that qualify them because of their postgraduate otherwise student degree programs. Hence, the admission your mainstream path was strictly centered on whether it ticket brand new respective brief course that have appropriate grades.
Now, an education loan is a risk for both, the lender as well as the borrower. But the lender’s stakes are higher as they provide these loans on the guarantee that the particular candidate will complete a mainstream course abroad and begin the student loan repayment process as soon as they are employed.
While the pathway applications none guarantee a qualification nor a position, of a lot lenders do not invest in lend degree financing to own short programs overseas.
Despite this state, all of our monetary group possess nevertheless caused it to be easy for about 65% of your cases to get an abroad student loan having path applications. The remainder thirty five% cases were the people the spot where the students had sub-standard instructional ideas and you will whose users mirrored the inability to pass through this new respective pathway/foundation course effortlessly.
With every failed attempt at bringing a studies financing for short courses abroad, our team kept pressing on the importance of recognizing potential courses and granting education loans accordingly, with our partner banks. Now, most of the prominent banks have been considering such cases for quite a while. When you directly approach public banks or private lenders for such loans, most loan officials e and you end up missing out on the year.
link with the WeMakeScholars team today to get a complete analysis of your profile and get to know the possible lenders who can cater to your financial requirements abroad.
Which are the student loan choices?
The Loanflix web-series is one of its kind series wherein the viewers get complete information about the education loan process. The first three episodes in the Loanflix series tell you about the basic education loan process, the two types of education loans, secured loans and unsecured education loans. For those who have not yet subscribed to our channel, here’s a brief explanation of the same. In India, education loans are bifurcated on the basis of the requirement of equity coverage against them.
So, once you submit an application for an abroad education loan to own pathway courses through our team, your about sit the chance to submit an application for that
(a) Immovable assets: House, flat, non-agricultural land, a non-commercial plot with boundaries, etc. can be pledged as collateral security.
(b) Liquid Safeguards: Liquid security such as FD, govt. Bonds, life insurance policy from a government-approved lender., etc.
(c) Third-group security: If candidates do not possess any assets of their own to pledge as collateral, then they can pledge a third-party’s (other than family members.) asset as one.
- Secured education loans
This type of education loan is mainly lent by major government banks. Secured education loans require candidates to pledge collateral. This collateral can be any of the following three: - Unsecured education loan
This type of education loans are mainly provided by private financial institutions called Non-Banking Boat finance companies (NBFCs). These loans are also called as student loan versus collateral. There is no requirement of collateral for such loans. They are provided on the basis of your co-applicant’s financial records and the merit and chances of acceptance of a student’s profile.
The 11th episode of Loanflix will help you understand some of the major factors that you need to know about while looking for an abroad education loan for pathway programs. In the 11th episode, viewers get to know the complete information on the various salient features of the two different types of education loans and