At Dreamz, we have an expert team of Education Consultants who can help you in choosing right country, course and based on you intention in long run, your skills, hobbies and financial ability.
Secure your Study Abroad Dream with the Right Financing option!
Profile & Eligibility Assessment
Application & Document Submission
We’ve Got You Covered
At Dreamz, we have partnered with the best study abroad education consultants to ensure that the decision you make now (choosing a college) has a positive effect on the future (getting a job). Our team provide end-to-end assistance for overseas education loan for studying abroad and resolve your end-to-end queries.
- Affordable funding options
- Thorough assistance for Abroad Education Loan process
- Education loan sanction prior to admission
- Assisting you in showing ‘proof of funds’ to the Universities
When is the right time to apply for an education loan for studying abroad - before admission confirmation or after?
It is best to start processing your study loan even before you get an admit. Many colleges do not grant much time between the admissions and the fee payment, and this often leaves you with very little time for loan application and processing. Resulting in you having to run around for funds at the last minute.
Above all, early application:
- Increases the chance of getting admission to your dream university since there is fund assurance
- Allows you to know your loan eligibility in advance
- Loan Sanction letter has better acceptance compared to a solvency letter
- Helps avoid last-minute surprises during Visa/fee payment times
- The financial terms can be a little confusing but their understanding is necessary for you to choose an education loan that best suits your financial requirements.Education Loans can be classified into two main types:
- Unsecured Loans – Loans without collateral
- Secured Loans – Loans with collateral
Having said that, we also have new cross-border lenders, who can help you with a collateral and co-borrower free study loans depending upon your admit
- Requires the borrower to offer any collateral like immovable property, FD, Insurance Policy, etc. against which the loan is offered.
- Lower rate of interest.
- The chances of approval are high.
- Longer repayment period
- No repayment during the study period.
- Parental income is not required for approval.
- Public sector banks require a collateral
- The borrower does not need to offer any collateral to get this loan.
- Higher interest rates, usually 1.5% – 4% higher than the secured loan.
- Is a more risky proposition for the bank, hence is not so easy to obtain an unsecured loan from the bank.
- Comparatively a shorter repayment period.
- Some repayment during the study period.
- Parental income is required for approval.
Whether you want to develop as a professional or discover a new hobby, there’s an online course for that.
No. You can apply for a loan even before you get your admission confirmation from a University / College. There are lenders, who will provide you with a conditional loan sanction letter. This helps students and parents feel confident and stop worrying about funding their education.
NBFC means Non-banking Financial Companies. NBFC and banks both are financial companies. But the major difference is unlike banks, NBFC cannot issue self-drawn cheques and demand drafts. As the name suggests NBFC is not a bank, they perform only lending functions to the public and cannot accept deposits from them.
Collateral security is the personal asset that students submit with banks and financial institutions to get the education loan for study abroad. Different factors like collateral valuation, collateral eligibility influence the rate of interest and quantum of study abroad loan one can take. It can be a tangible asset like a house or an intangible asset like a Fixed Deposit.