Education Portal for Students in India

Courses eligible for Educational Loans: – Banks offer loans for students to study almost anything provided that the course and the institution are accredited by the concerned authorities or are of good repute. Students can avail loans for the following courses.

• Undergraduate degrees/diplomas and special courses.
• Postgraduate degrees/diplomas and special courses.
• PhDs and Doctoral Programmes.
• Certificate courses

Banks also offer loans for specialised courses, training and diplomas. Not all banks will extend finance for these courses, but an applicant can do research and find a bank that will offer them a loan especially if there is a prospect of a job, or an enhancement in current employment. Some of the courses include:

• Computer certificate course
• Engineering diploma
• Certificate courses from Industria Training Institute (ITI)
• Data entry operator course
• Nursing/Teacher Training certificate courses and B.Ed
• Agri diploma
• Veterinary diploma
• Any job-oriented diploma or certificate course
• Degree or diplomas for aeronautics, pilot training, shipping held by recognized regulatory bodies for the purpose of employment in India or abroad
• Vocational courses run by a government organization or department
• Courses run by State Skill Missions, State Skill Corporations, or National Skill Development Corporation

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Who qualifies for student finance Netherlands?

Contact – Are you unsure whether you meet the requirements? Then contact us by phone at +31 50 599 77 11, You can reach us about this topic from Monday to Friday from 9 a.m. to 5 p.m. You qualify for student finance if you meet 1 of the following requirements:

• You have a residence permit Article 50 and you been living in the Netherlands for 5 consecutive years or more.
• You have a residence permit Article 50 and you are a migrant worker. You work in the Netherlands for at least 56 hours a month or you have a monthly income of at least 50% of the, Do you work less than 56 hours per month, or is your monthly income less than 50% of the social security norm? Then DUO will assess your situation separately. Your employment contract must start on the 1st of the month. If your employment contract starts later, you won’t be eligible for student finance until the next month.
• Your non-Dutch parent or partner has the nationality of an EU/EEA country Link opent externe pagina or Switzerland and is, or was, a migrant worker. Your parent or partner works, or has worked, in the Netherlands for at least 56 hours per month. Or your parent or partner has, or had, a monthly income of at least 50% of the, Does, or did, your parent or partner work less than 56 hours per month? Or is, or was, the monthly income less than 50% of the social security norm? Then DUO will assess your situation separately.
• Your British parent or partner has a residence permit Article 50 and is, or was, a migrant worker. Your parent or partner works, or has worked, in the Netherlands for at least 56 hours per month. Or your parent or partner has, or had, a monthly income of at least 50% of the, Does, or did, your parent or partner work less than 56 hours per month? Or is, or was, the monthly income less than 50% of the social security norm? Then DUO will assess your situation separately.

You must also meet 1 of these requirements for only the student travel product. Do you meet 1 one of these requirements?

1. You can apply for student finance via Mijn DUO.
2. Find out which supporting documents you need to send under ‘Documentary evidence for EU/EEA citizens, UK citizens and Swiss’ below. Send these documents to [email protected].
3. Within 6 to 8 weeks you’ll receive a letter.

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Is everyone approved for student loans?

How to Apply for a Student Loan Almost everyone qualifies for, though students with the greatest financial need can generally borrow under the best terms. The first step in applying for a student loan is figuring out whether you will be considered an independent student or one who is dependent on your parents.

You are over the age of 24. You are married at the time of applying. You are on active duty or are a veteran of the armed forces. You have children who receive at least half of their support from you.

Under certain circumstances, independent status may be granted to students who do not meet the requirements listed above. If you have questions about this, talk to the financial aid administrator at your school. He or she can make the final determination about your status.

Once you’ve figured out your dependency status, it’s time start gathering financial information for yourself (independent students) and your parents (dependent students). This includes returns, statements and information about other financial assets, You’ll also need social security/immigration cards for everyone on the application.

To qualify for financial aid, you also need to be working toward a degree in an eligible program. In other words, you may be applying to an accredited school, but the underwater basket weaving classes you plan to take could disqualify you for the loan if they do not count toward a certificate or degree.

Be sure to talk to a counselor about whether your courses are acceptable under your loan program. Once you’ve answered some questions about your dependency status and eligibility, it’s time to start comparing student loan programs. There are several different types of student loans, each with its own terms and conditions.

You may qualify for more than one type, so it’s important to understand how each works in order to make the best decision about financing your education. In the next section, we compare different types of student loans as well as the qualifications for each.
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Can I be rejected student finance?

You can appeal against Student Finance’s decision – If you feel that the decision not to offer you a student loan is unjustified, you are entitled to launch an appeal against the decision. You can find full details on how to appeal, : What to do if you are not eligible for student finance?
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Can anyone get approved for a student loan?

Should you take an education loan? | Education Loans in India 2021 | Ankur Warikoo Hindi Video

With the rising cost of education across the board, paying for college is no small feat. When savings, scholarships, and grants aren’t enough, students and parents should next turn to federal student loans. Federal student loans, sometimes referred to as government loans, are funded by the U.S.

• Department of Education and are made available to students who fill out the Free Application for Federal Student Aid,
• Federal student loans don’t require a credit check, proof of income, or a cosigner.
• You will have to repay the loans with interest.
• However, federal student loan interest rates are typically lower than even the best private student loan rates,

In this guide:

Types of Federal Student Loans Federal Student Loan Borrowing Limits Qualifying for Federal Student Loans Deciding How Much to Borrow How to Get Federal Student Loans Federal Student Loan Servicers Benefits of Federal Student Loans Alternatives to Consider

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Which type of student loan is best?

Quick Guide: Which College Loans Are Best? Taking out a loan means paying regular charges called interest. You can save money by choosing a loan with a low interest rate. A low interest rate means you’ll have to pay back less money in the long run. A subsidized loan is your best option.

Federal Perkins Loans Colleges may award these loans to students with the highest financial need, using federal government money. The 5 percent fixed interest rate is low, and you don’t make any loan payments while in college. You can borrow a total of $27,500. Federal Direct Subsidized Loans These need-based loans have a low interest rate of 3.73 percent, and the government pays the interest charges while you’re in college. This interest rate is fixed, which means it will not change over time. You can borrow up to $3,500 your freshman year, and this limit increases to $4,500 for your sophomore year, and $5,500 each for your junior and your senior year. Federal Direct Unsubsidized Loans These non-need-based government loans also have a fixed interest rate of 3.73 percent. But they allow you to borrow more money than a Direct Subsidized Loan alone. You can pay the interest while you’re in college or add it to the amount of your loan. The second option means you’ll end up paying more money over time. Federal Direct Plus Loans These non-need-based government loans allow parents (and graduate students) to borrow the total cost of attending college, minus any other aid received. They have a 6.28 percent fixed interest rate. Private (Alternative) and State Loans These loans from banks, colleges, private organizations and state government agencies usually are not need based or subsidized. They may require good credit, which often means an adult with good credit must cosign the loan. Interest rates on these loans are often higher than on federal loans, and the rates may rise over time. These loans may also have terms that are not as favorable as those of federal loans.

This article is intended for informational purposes and is not intended as tax or financial advice. : Quick Guide: Which College Loans Are Best?
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What is not covered under education loan?

What expenses are not covered under an education loan? – Movie tickets, personal travelling and other such entertainment expenses are not covered under education loans. Even in the expenses covered in Education Loan, only tuition fees are default in all education loans by various banks.
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Do student loans cover all expenses?

Student loans — both federal and private — can be used to cover more than just your tuition. They can also cover living expenses, such as housing, groceries, toiletries, and more. These expenses are factored into your school’s cost of attendance (COA), which is used by lenders to determine how much money you should receive.

• When student loans can be used for living expenses
• Student loans for living expenses
• How to use student loans for off-campus housing
• Living off student loans: dos and don’ts
• Repercussions for misusing student loan funds

Prefer video? Check out our video on using student loans for living expenses:
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Which of the following is not covered under education loan?

Health Insurance – Health insurances aren’t usually part of the education loan. Most of the lenders did not cover the health insurance cost. However, some of the banks may allow the inclusion of the health insurance cost at the borrower’s request. But there are only a few banks that allow health insurance as a part of their loan.

1. Check Your Education Loan Eligibility The student loan is a one-time affair and making amends to the loan structure isn’t possible.
2. So a student must bear in mind the expenses that they can manage on their own and ones for which they may need a loan.
3. Financial stability at the time of education is of paramount importance, so it’s in the student’s best interest to decide the loan amount.

A student must consider the following factors before calculating the expenses:

• The cost of accommodation in a particular country and if it will be possible to live in shared for reduced cost of living.
• The cost of food in the city where the university is located. And, if a student can cook on their own, it can substantially reduce the cost of education.
• The cost of dining out or inter-city travel expenses will be a part of the total expense since academics are not restricted to on-campus education.
• The cost of transportation. Many places have affordable fuel prices, and low cost used cars market like the and, While in places like, students get discounts on public transports. One must research all this beforehand.
• The part-time job options are available in the city where the university is located. Many countries have attractive part-time jobs with fixed minimum wages. This helps students in covering a considerable amount of their living expenses.

Read Also: All the factors mentioned above will help students in assessing the amount of loan they need to take to finance their abroad education. The cost of abroad education is high, and it runs into several lakhs or even in crores. So, it’s in the best interest of the students to take help from experts and fintech companies working in this space so that they can be assured that their loan will give the maximum coverage of the expenses. While considering the coverage of expenses, it should also be kept in mind that the loan will have to be repaid, and the amount on the loan is huge. So, taking help from the experts will help root out less suitable options and incorporate the more relevant ones. This is something that will help the borrower in the long run. Also, if a student is ready to make certain amends in their way of living, it will have a considerable bearing on the cost of the education. India’s first education loan marketplace, helps students in arranging education loans for abroad studies from the leading lenders in India and a few international lenders. It has partnerships with lenders like,,,,, and more. This assistance is entirely free of cost and in case you need to add some of your abroad expenses to the loan, we will also help you in accommodating that in the loan. To start, you must check your loan eligibility to know if you qualify for an education loan via GyanDhan or nor. Check Your Education Loan Eligibility Education loans are packaged while considering a diverse section of the population. There is no one size fit all strategy in education loans. Even well-heeled people take loans for their children, but the loan and coverage of expenses will be poles apart from someone from a relatively weaker financial background. So, take what you need and avoid what you don’t. First published date: 01 Oct 2021

: Expenses Covered Under Education Loan: Tuition Fee, Living Expenses & More
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