#Masters in Uk

[educationloans-101]

Education Loan for Abroad Studies: Explore Student Loans

An investment in knowledge pays the best interest! And if the knowledge is attained at a top-tier and premium university then it is sure to elevate your career to the next level. However, the unfortunate reality is that the cost of studying in a reputed college is usually quite steep. And studying in a good college overseas is an even more expensive proposition.

Education loans for abroad studies help students, irrespective of their financial status, realize their dream of studying in one of the best universities in the world.

Numerous banks and other lenders now provide foreign education loans for students who want to study abroad. These lenders have different education loan schemes on offer, but choosing the one that is right for you is not an easy task. And that is where GyanDhan helps.

We match you with that lender, which is the best education loan for abroad studies that suits your profile and needs perfectly, and then help secure the loan approval in the most seamless and hassle-free manner.

What is the Maximum Loan Limit For Education Loans to Study Abroad?

In secured education loans, students can apply for student loans of up to INR 1.5 cr. In foreign education loans without collateral, students can apply for study loans of up to INR 45 Lakhs. This loan amount limit can increase or decrease depending on the applicant’s and co-applicant’s profile, country, course, etc.

How to Apply for Abroad Education Loans?

The steps to apply for a loan for financing the studies abroad are:

Step-1: Check your loan eligibility online.

Step-2: Get expert loan counseling to compare the options available.

Step-3: Select a lender and apply online.

Step-4: Get the customized education loan document checklist.

Step-5: Submit the required education loan documents either online or get documents picked up from your home by our representative.

Step-6: Get the property & other legal evaluations done (in secured loans).

Step-7: Get the loan sanction letter after the education loan approval from the lender.

How to Choose the Best Overseas Education Loan?

Taking an education loan to supplant the cost of education overseas is the right choice. Depending on the amount and your profile, financial institutions can finance even 100% of the cost of the course.

However, to get the best education loan option, one needs to carefully analyze the following key aspects of the various options available. When you apply to GyanDhan, we do this analysis for you. In case you do the loan comparison yourself, consider these factors:

Interest Rate: Even a 1% increase in the education loan interest rate has a substantial financial effect. Example - Loan Amount: Rs. 30,00,000, Loan Repayment in: 5 years after you graduate, Course Duration: 2 years; While at 10%, you’ll pay Rs. 9.7 lakhs in interest, at 11%, you’ll pay Rs. 10.9 lakhs - that’s a difference of 1.2 lakhs for just 1%!. Also, historical changes done by any lender in its interest rates should also be considered.

Repayment Holiday/Moratorium Period: It is a specified period during the loan tenure in which the borrower is exempt from making repayments. Loans with a moratorium period have a big plus, as you don’t have to worry about making repayments while you study overseas.

Tax Rebate: Education loans for foreign studies taken from Indian banks are special in that the entire amount paid as interest is exempt from income tax. This has a huge impact: Example - Loan Amount: Rs. 30,00,000, Marginal tax bracket: 30%, Repayment in: 5 years after graduation, Course Duration: 2 Years, ROI: 10%... If your loan has tax rebate, you can save Rs. 2.9 lakhs!

Margin Money: The amount that you need to pay from your own pocket while the rest is paid by the bank. If a bank offers a 0% margin, it means they’ll fund all your education expenses in the offered loan amount.

Hidden Fees: There are numerous hidden fees that your lender might be charging you and when accumulated these will cost you a considerable amount, such as:

Forex Margin: Some lenders charge a forex conversion charge when the overseas education loan is sanctioned in INR and disbursed in some other currency. This can be as high as 1.5%, which translates to Rs. 45,000 for a loan amount of Rs. 30 lakhs.

Processing Fees: This varies from zero to as high as 2%. For a loan of Rs. 30,00,000, the processing fees can be as high as Rs. 60,000

Cost of Credit Life Insurance: Some lenders make it mandatory for the applicant to go in for credit life insurance with their education loan scheme so that their loan amount is protected against any unfortunate eventualities. If the premium amount is on the higher side then it eventually increases the cost of the education loan as well.

Mandatory Cross-Sell: Some lenders try to cross-sell other policies before sanctioning the education loan, even though it is not required on the applicant’s end.

Interest Rate in Different Currencies: Often students face a dilemma of choosing over an education loan in USD with a lower interest rate or an equivalent amount in INR with a higher interest rate. By the previous trend of the rising prices of US$ to INR conversion rates, it is a smart choice to go for the loan amount in INR even though it may come with a higher interest rate.

As you can see, by selecting the right overseas education loan, the reduction in cost can be as high as 5-6%.

Which is the Cheapest Education Loan in India to Study Abroad?

Public sector banks offer the State Bank or BoB lowest interest rates on loans for foreign education compared to private banks & NBFCs. If your institution is listed in BOB’s premium list of colleges, Bank of Baroda offers the cheapest education loan for abroad studies. Otherwise, the State Bank of India offers the cheapest education loans. However, the extent of the cheap education loan in India depends on several factors including the applicant’s profile, co-applicant’s financial profile, target country, target course, etc.

Are you eligible for an abroad education loan? Check here.

[elaneducationloans]

Discover affordable universities in the UK for your master's degree! Explore top institutions that offer quality education Visit - https://www.elanloans.com/blogs/affordable-universities-in-uk-for-masters

[bizzeducation]

[abroad-consultancy]

Best Universities for Masters in UK – 2024 Complete Guide

Study in UK for Masters

Why Study in the United Kingdom?

Studying in the UK offers a wide array of benefits for both undergraduate and postgraduate students. The UK’s educational system is renowned for its excellence, and qualifications from UK universities are recognized globally. Here are some of the key advantages of pursuing your education in the UK:

Benefits of Studying in the UK:

Internationally Recognized Universities and Qualifications:  UK universities are globally respected for their high academic standards and innovative teaching methods. Degrees from these institutions are recognized and valued by employers worldwide.

Quality Education:  The UK has a long-standing tradition of providing high-quality education. With a strong focus on research and practical knowledge, students are equipped with skills that are relevant to the industry.

Scholarships and Financial Support:  Many UK universities offer scholarships and financial aid to international students, helping to make education more affordable.

Costs and Expenses:

Average Tuition Fee: GBP 13,600 per year.

Average Living Costs:

Outside London: GBP 9,135 per year.

Inside London: GBP 11,385 per year.

Living expenses typically include accommodation, food, transportation, and other personal costs.

English Language Requirements:

IELTS: Minimum score of 6.5 overall (with no less than 6.0 in each section) for postgraduate studies and 6.0 (with no less than 5.5 in each section) for undergraduate studies.

TOEFL: Minimum score of 90 (Internet-Based Test) for postgraduate and 80 (Internet-Based Test) for undergraduate studies.

PTE: Minimum score of 56 overall for postgraduate and 54 overall for undergraduate studies.

Exemptions may be possible for students who scored above 60% in English in their XII std. (English Medium) and if their medium of instruction throughout school and college was English for 2018/2019 pass-out students.

UK Admission Process:

Application Submission: Submit the required documents to the university.

Interview: Some universities may require an interview via Skype or telephone before admission or after receiving the offer letter and fee payment.

Offer Letter: Upon clearing the interview, an offer letter is issued.

Fee Payment: Pay 50% or the total fee.

Visa Funds: Ensure you have sufficient funds for the remaining tuition fee and GBP 10,000 for living expenses (in FD or savings, 28 days old funds).

Medical Examination: Complete the required medical tests.

CAS Letter: Send the fee payment receipt to the university to receive the CAS letter.

Visa Application: Apply for a visa online and submit original documents at a nearby VFS office.

Required Documents for Admissions:

Passport

Resume/CV

10th and 12th mark sheets

Bachelor’s mark sheets (Consolidated Marks Memo, Provisional Degree Certificate, individual memos, degree)

IELTS/TOEFL/PTE scorecards

Medium of Instruction letter (if applicable)

Letters of Recommendation (minimum two academic)

Statement of Purpose (based on course)

Work experience documents (if applicable: offer letter, pay slips, experience letter, relieving letter, salary bank statements of 3 months)

Work Opportunities:

International students enrolled in full-time undergraduate and postgraduate programs can work up to 20 hours per week during term time and up to 40 hours per week during vacations.

Popular Courses:

Management

Engineering

Law

Tourism

Healthcare

Media

Nursing

Best Universities for Masters in UK:

University of West London

University of Law

University of Greenwich

Western New England University

University of Central Lancashire (UCLAN)

ONCAMPUS-Cambridge Education Group (UK)

The University of East London (UK)

Bangor University

University of Bath SPA

Accommodation Types:

University campus hostel

Private housing/room

Private hostels

Visa Information:

Type: Tier 4 General Student Visa

Duration: Total study duration + 2 years post-study

Application Timing:

From Outside the UK: Apply up to 6 months before your course starts. Typically, you will get a visa decision within 3 weeks.

From Inside the UK: Apply up to 3 months before your course starts and before your current visa expires. Decisions usually take up to 8 weeks.

How Long You Can Stay:

Degree Level Courses: Up to 5 years.

Below Degree Level Courses: Up to 2 years.

Travel to the UK:

For Courses Lasting 6 Months or Less: Arrive up to 1 week before the start date.

For Courses Lasting More Than 6 Months: Arrive up to 1 month before the start date.

Visa Fees:

Application Fee: GBP 490 to apply for a student visa from outside or inside the UK.

Health Insurance (HIS): GBP 400 per year, payable for the entire study duration before the visa application.

By considering these factors, you can effectively plan your study abroad journey in the UK and make the most of the educational and career opportunities available. Good Luck on your UK journey!

Contact us for the Best Overseas Consulting Services in Hyderabad: +91-7416905590

Email id: 5landsoverseas@gmail.com

[stanfordglobaleducationconsult]

Get Free Counselling Now!

☏ 0586482330

Stanford Global Education Consultants

Address: Office No: C-03 Block Ground Floor, Sharjah Book Authority, Al Zahia, Sharjah UAE

Visit Us : https://stanfordglobaleducation.com/

#studyinuk2024#mastersinuk#studyabroad#stanfordglobaleducation

[edelevateoverseasconsultants]

Study in the UK and open doors to success. Experience a world-class education, diverse cultural exposure, and prestigious universities. Gain valuable skills, expand your network, and unlock limitless opportunities for a bright future. Your pathway to excellence starts here.

[anky123]

By reading this post, you will get to know a Complete Guide on MS in Marketing in the UK. This article has information on masters in marketing such as top universities to study, admission requirements, necessary documents, admission process, and many more. For more information, contact our UK education consultants in Chandigarh today.

[studiesinoverseas]

At some point in our life, we need to be prepared for our master's after we complete our bachelor’s. A master’s degree promises a better future in terms of career as well as financial stability. 

So, if you are thinking of studying in the UK, here is a blog on the most employable degrees in the UK. Let's dig in!!!

[abroadstudyexperts]

The Universities Application Process for UK is easy and can be done online. But before we get into the details of how to apply to UK universities and how Indian students can get into UK universities, let’s clear up a few things.

The process for applying to a postgraduate program at a university in the UK is a little different from that for undergraduates. Undergraduates can apply through the UCAS website, but postgraduates must apply directly through each university’s website.

[myglobaluni]

Top Universities in the United Kingdom - This is the place to be if you're looking for the top universities in the United Kingdom. for international students. This article will help you find top universities in the United Kingdom that offer a variety of study abroad programs. 

[abgyanoverseas]

If you are planning for the study Human Resource Management in UK then there is a good scope of HRM in UK. The duration of Human Resource Management training program is approximately two years in UK. To know more about the HRM program contact Study in UK for Indian students consultants.

[abroad-education-consultants]

Why is a One-Year Master’s Program in the UK a Great Idea?

Want to study One Year Master program in UK? Read the detailed insights about reasons to study in UK, cost to study, courses, universities providing one year master programs and job opportunities after masters.

More info - https://www.studies-overseas.com/blogs/study-masters-in-uk

[thejinxmaster]

David Tennant: 3

Prime Ministers: 0

[jamboreeindia142]

Every year thousands of Indian students enroll for masters in UK universities with an appetite for academic excellence and global exposure. The multicultural country is immensely popular among international students.