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Student Loans

Comparing Student Loan Options for Studying Abroad

Taking your aspirations to a foreign country is a milestone for many Indian students. However, this journey is often road blocked by its financial implications. Thus, there is a need to have a well-planned borrowing strategy. We will conduct a thorough comparison of student loan options, tailored for Indian students.

Government-Backed Loans vs. Private Loans

Government-Backed Loans

Advantages: Government-Backed Loans are offered at lower interest rates (around 8-10% annually), they have longer repayment terms and sometimes subsidies on interest.

Disadvantages: They are available up to only INR 20-30 lakhs. Moreover, being government backed brings in higher level of scrutiny which in turn means a stricter eligibility criterion.

Private Loans

Advantages: Private sector loans can have higher limits upwards of INR 50 lakhs. They are more flexible in nature and the processing time is also faster.

Disadvantages: The major impediment in securing a private loan is the high rate of interest (10-14%) and the repayment schedule is stricter.

Types of Interest Rates: Fixed vs. Variable

Fixed Interest Rates

Pros: Offer predictability in repayments; rates generally vary between 9% and 12%.

Cons: Can be higher than initial variable rates.

Variable Interest Rates

Pros: Start with lower rates, beneficial if market rates decline.

Cons: Risk of increasing payments if market rates rise.

Loan Repayment Terms and Grace Periods

Repayment Terms

Short-Term Loans: Typically, 5-7 years, resulting in higher monthly payments but less interest overall.

Long-Term Loans: Can extend up to 10-15 years, easing monthly burdens but increasing the total interest paid.

Grace Periods

Post-Graduation: Several banks offer a six to twelve-month window before repayments start. It eases the burden of immediate repayment and one has time to look for a job.

Indian Loan Providers

Public Sector Banks

State Bank of India (SBI): Global Ed-Vantage scheme offers loans up to INR 1.5 crores with interest rates starting from 8.85% p.a.

Punjab National Bank (PNB): PNB Udaan loans offer up to INR 40 lakhs with interest rates around 9% p.a.

Private Banks and NBFCs

HDFC Bank: Provides flexible loans up to INR 20 lakhs with interest rates starting from 9.50% p.a.

Credila: Specializes in education loans, offering variable rates and customizable plans.

Evaluating Your Options

You must consider the following parameters while deciding upon your loan:

  • Interest Rate Impact: Lower rates are critical for long-term affordability.
  • Loan Amount Adequacy: Ensure the loan covers all costs, including hidden expenses.
  • Repayment Terms: Seek flexible options that align with potential earnings.
  • Processing Efficiency: Consider the ease and speed of loan approval.
  • Collateral Requirements: Weigh the implications of secured versus unsecured loans.

For an Indian student, securing a student loan is a major step. You are advised to compare different loan types, interest rates, and repayment terms. It is better to consult a financial advisor and make the best possible decision keeping in mind your future financial capabilities.

Categories
Study in Italy

Why ‘Studying in Italy’ might be the Best Choice for you?

Imagine being at the center of learning with all the great institutions in the World surrounding you, great and rich cultural heritage, exotic food and many other attractions right there for you at the dream study destination of yours. Yes, Italy has all this to offer you. Italy is much more than just a attraction to students all across the world. Those who study in Italy get to experience a lot of other adventures than just being a book-worm.

Below, we are listing the top five reasons which make Italy, the best place to study abroad.

  1. Knowledge is the Top Most Priority – Well, if you are going to study in a foreign University, then your topmost priority is that you should get the best of knowledge of the subject you are studying and Italy takes the ground here. You have University of Bologna, University of Padua and many other great colleges here only. No matter whether you study business, fashion, art or history here, the faculty and the staff is always there to enhance your learning experience. The classroom lectures are fairly accompanied by field trips, museum visits, and exchange programs etcetera. And all these result in giving the optimum scope of knowledge to the students.
  2. Less Painful to Your Wallets – This point might seem a bit odd but the expense of education in Italy is highly affordable when compared to other countries like America or Canada. You will be getting World class education in a highly affordable price. Plus, the Universities in Italy are highly indulged in the scholarship programs. And if you possess a good score in IELTS or other exams, then getting a scholarship is a fairly easy task for you. Other expenses like living cost and tuition fee are also much affordable in Italy.
  3. No Shortage of Exposure – Apart from the primary idea of quality education, you will also be given exposure to a lot of practical knowledge as well. The colleges conduct frequent field trips to museums and other institutions to teach the students in a better way. In this way, you’ll not only be educated but will also be trained in a good pace. The teachers are always there for your support whenever you need them. All these small contributions make your study abroad experience a fruitful one.
  4. Getting Hold of a New Language – If course, its not a compulsion for you to learn Italian in Italy. But, if you are there, then it is quite easier for you than learning it somewhere else. You are a part of the Italian culture and environment and thus, adapting to their language is a bit convenient. In this way, you will be getting knowledge of another language as well, which would surely help you somewhere in life.
  5. Rich Culture and Food – Whenever you are with a new set of people, then you definitely get to learn a few new things. And Italy is itself a land of cultural heritage. They celebrate many great festivals like Carnevale, Game of the Bridge etcetera. All these make you a bit more familiar with the culture and enhance your learning.

How can we forget the exotic food that you’ll be getting in Italy. The birthplace of Pizza and Pasta has a lot more to offer other than these two. Risotto, Lasagne and many more are waiting for you in Italy.

These are the best of five reasons which we have found and are sufficient enough to make you an admirer of education in Italy.

Categories
Free Education Study Abroad

How Can I Study Abroad if I do not have the Finances?

If you are willing to give your career the right path, direction and better growth opportunities, then, studying in a foreign University is a great option for you. You’ll be getting the experience of a lifetime, better education facilities, broad exposure and a lot more memories to cherish. But, as cheerful as it may sound, the reality will always reach you something you need to. And in this case, it is about the expenses that you’ll have to meet in your studies abroad.

You are going to a whole different country to study for a good duration and along with studies, there are a lot of other expenses as well like house, travel, books, trips etcetera. And to make your foreign studies abroad, you must contribute yourself to all these activities also. Now, the question comes how you can study abroad if you don’t have the required funds. Don’t worry, we have got you the right measures you can take in order to pursue your studies in a foreign University.

  1. Education Loan Facilities – This is a very good facility for all the study abroad aspirants and the process is quite accessible as well. The student firstly has to secure a seat in the foreign University to avail the benefits of education loan. And that’s how, the criteria for admission changes from college to college. You have to qualify the entrance exam of the college and then you will be issued the acceptance letter by the college. And this letter will help you in getting your loan sanctioned.

The top Indian Banks giving study abroad loans to students are HDFC bank, State Bank of India, Axis Bank etcetera.

  1. Scholarships and Grants – Another great way for the assistance in your foreign education is scholarships and grants. These scholarships can either be merit based, caste based or financial status based. But most of the colleges take the academic performance of the student into deep consideration. The student must have a good report. Plus, the student must also have passed the entrance exam held by the college separately or the college may also accept IELTS score as the criteria. Apart from these, you’ll also find plenty of government funded like Nehru Scholarship, private funded like Tata Scholarship for help of the Indian students.

In order to know more about the scholarships that are specific to your University only, you should visit the website of the institution and you can also take help from the education consultants available.

  1. Other Things to Consider – Now that you have all awareness about the resources available for your financial help, there are a few things which can help you gain some stability in your expenses abroad.

The first one is to choose your college cautiously. Choose such a college and country where the expenses are quite less. Israel, Italy, Australia etcetera might be a better option than USA, UK or Canada in such scenarios.

You can also work along with your studies to have your other expenses sorted. The foreign University will fetch you ample time to invest in a part-time job or freelancing. You should use it well and save it for the repayment of loan purpose.

So, these are a few resources and ways through which students like you can pursue their foreign studies without having ample funds.

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Free Education Scholarships for Indian Students

Scholarships for Indian Students to Study in Abroad for Free

Studying in a foreign country is a great milestone for your career. You get to learn among the best minds of the globe. The scope of knowledge and career both gets elevated. But, speaking on practical terms, the expense of studying abroad is very costly as well. There are a lot of steps involved and thus, monetary angle dominates.

But, what if we tell you that there are scholarships available for you through which you may study in abroad for free. Yes, that’s completely possible. There is plenty of government funded and private scholarships that give this golden opportunity to the students. We have listed the top scholarships for which eligible students can apply.

  1. National Overseas Scholarship – This scholarship is availed by the Ministry of Social Justice and Empowerment and is helpful for students falling under SC, landless laborers and nomad tribes. If the eligible class wants to pursue a Master’s or PhD course, is below 35 years of age and has family annual income of less than 8 Lakhs, then he may apply for this one. Plus, he must also have more than 60 percent marks in the qualifying exam. All the expenses from tuition fee to travel expenditure are included in this one. You may enquire further on the Ministry’s website.
  2. GREAT Scholarships India – There are a few scholarships which are provided by the foreign University of country itself for students willing to study in their institute. This is one such scholarship for Indian students provided by UK educational institutions. The applicant must be an Indian student and have an excellent track record to be eligible for this scholarship. He should have great IELTS and GMAT score and have keen interest in the subject he want to study. Tuition fee, travel allowance and all other expenses are covered and the maximum which is offered is 10 thousand dollars.
  3. Commonwealth Scholarships – This scholarship is provided by the UK government for Commonwealth, who can not afford studying in UK otherwise. This is open for all the countries which are included in the Commonwealth. The student can opt for a Master’s Degree or a PhD program if he has got the minimum qualification to do so. The University will take over all the expenses from the tuition fee to the living expenses under this scheme.
  4. Cornell University Tata Scholarship – This scholarship is a collective effort made by the Cornell University and the Tata groups. They offer fully funded foreign education to Indian students in the Cornell University. You can get the benefits of this scheme if you’ve already got admission in Cornell University based on your marks and history. The applicant must not be able to bear his study expenses otherwise and must have deep knowledge of the subject.
  5. University of New South Wales India Scholarship – This scholarship is provided to the Indian students willing to pursue Under-Graduation or Post-Graduation from the University of New South Wale in Sydney. The University provides 10 thousand dollars for scholars who want to study in their college. But for Engineering courses which need extra fee, University offers some concession. You may apply to this scholarship only after you get admission in the University.

These were the best scholarships for Indian students, through which students can easily pursue their education and study abroad for free.

Categories
Overseas Education Study Abroad

Is it Better to Study Abroad for a Better Future?

You want the answer right now? Then, YES, studying in a foreign country is undoubtedly better for your future and career. And that’s the prime reason why many students in India go to study in a foreign country. There are plenty of other advantages than just a good future.

For your further assistance, we are listing the best reasons to support one’s decision of studying abroad.

  1. Becoming Self-Dependent – You’ll see a large portion of students going for their studies abroad for their Master’s or PhD. But many students also pursue their under graduation from a foreign University. When you are doing your Master’s, you have already attained a matured age, thus you can deal with your problems easily.

But, as a under graduate students, living all alone in a different country is some kind of an experience. You have to manage your studies, expenses, household works and a lot of works all by yourself. All this collectively contribute to your personality and help you in becoming Self-Dependent.

  1. Learning About New Cultures – The biggest advantage of overseas education is the exposure that a student gets. In foreign colleges, the curriculum is pretty diverse and promotes practical knowledge and learning a lot. In between your studies also, you get to interact with a lot of new people from various nations across the globe. In this way, you get to learn about their culture and they know about you.

And this is the exposure and knowledge only that will help you build a strong career out of your learnings.

  1. Learning a New Language is definitely a PLUS – Its very unlikely that every nation you go to, you’ll find English as their native language. Canada, Australia, Russia, Ireland, Italy and a few other countries have got the best of education facilities and don’t have very large popularity of English language. In such a case, you get to learn a new language as well.

Learning the country’s foreign language is also a part of your overseas education training and will help you in exams like IELTS, GRE and GMAT. In this way, your skills are elevated as well.

  1. Great for your International Job Prospectus – And after getting your studies done, you will have a larger scope of job opportunities than the home studies ones. Your CV will outshine other ones as you already have the experience of living independently in a foreign country. This will help you explore more jobs on foreign land.

And you’ll also get a better salary as well. In this way, your career growth graph will also get frequent surges. Eventually, getting you a better future.

These are the prime reasons which separate your foreign studies from studying in your own country. At last, it can rightfully be said that studying abroad is a lifetime opportunity and you should definitely go for it for a better future.

Categories
Study Abroad

Which Country is Cheaper to Study Abroad?

The demand to study abroad is quite high among Indians. However, studying abroad can dent your pocket if you don’t find an affordable destination and university.

In this article, we will discuss the top 5 countries that are cheaper to study overseas. Some of these places offer high-class education with low tuition fees some offer excellent scholarship programs, whereas some allow students to get a part-time job. But most importantly, all these places offer a great lifestyle with an affordable cost of living.

5 Countries to Study Abroad for Indians

  1. Norway: All the Nordic countries offer exceptional lifestyles and affordable education. But Norway tops the list of cheap overseas education as the public universities in Norway offer almost free education to both EU and non-EU nationals.
    However, the cost of living in Norway is comparatively higher than in other countries in this list.
  2. Italy: Italy is yet another country that offers a great lifestyle and world-class education at an affordable rate. But what makes it more preferable is the low cost of living. Italy is a place where you can get shared accommodation or stay as a house guest for a budget as low as 500 euros per month. Being the land of gourmet, food is also very cheap here. You can study in Italy and get a part-time job to sustain your living.
  3. France: Even if you don’t believe it, France is one of the cheapest countries to study abroad. In France, you can get a Bachelor’s degree program for as low as €170 per year!
    Though the tuition fees are considerably low here, the cost of living is very expensive in the capital. So, if you want to study on a budget in France, it is best to avoid universities in or around Paris and choose universities in other places.
  4. Mexico: Mexico offers more than just lifestyle and affordable education. The place offers you a first-hand experience with the ancient Latin American culture and exciting places to explore. Education and cost of living in the capital can be around $6300 and $9200 per annum.
  5. Taiwan: The National University of Taiwan holds the 72nd position in the global rank for top universities. International students can join one of the undergraduate programs in this university for as low as $3300 per annum. Needless to say, the cost of living is a highly affordable price, making Taiwan a cheap place to study overseas for Indians.

Conclusion

The given 5 destinations are just the beginning. There are more places around the globe where you can study for cheap. If you want admission to one of the affordable universities in the world, get in touch with experienced study abroad consultants and find out a suitable option for you.

Categories
Study in Italy

Top Places you Don’t Want to Miss During your Study Abroad in Italy

Italy is a world class educational destination for all the students willing to study abroad. The country is full of top ranked Universities like the Bologna University and the Sapienza University of Rome. You can learn art, history, literature, business, anthropology and a lot more majors for your college study. The top class faculty, in-depth study and complete exposure to the outer world enhance your learning experience to a great extent.

But, along with studies, you might also want to relax and explore the nation a bit as well. And for that purpose as well, Italy has a great number of tourist destinations available. These places would surely grab your attention and give you time to explore the Italian culture a bit.

Below, we have listed the top places which you should definitely visit while you are completing your studies in the European country.

  1. Rome – The great capital of ancient Europe, Rome, definitely tops the list. It is the most radical and attractive city of Italy and has many great monuments like Colosseum, Pantheon and the Forum. The world famous Vatican City is also a part of Rome only. Between these lavish architectures and tourist spots, you might also want to soak-in the beauty of the streets as well. The people are very welcoming to the foreign students and are there for any help you need.
  2.  Venice – The most astonishing and extra-ordinary city of Italy. The place where the waters have taken the form of the pathways and you can travel from one house to another on a boat. The St. Mark’s Square and the Basilica of St. Mark are widely famous among the locals for their beauty and simplicity. The large clock tower adds a big plus to the beauty of this city.
  3. Milan – Milan has one of the most busiest airports in Italy and thus, experiences a lot of tourists in a year. The city is a must go destination for the art, fashion and design lovers. Travelers come from different cities to Milan for the sake of shopping only. This explains the popularity of the city across the whole Europe. The magnificent church of Italy, Duomo Cathedral is here in Milan only.
  4.  Lake Como – The most beautiful lake in Italy is the Como lake, from the Roman period. Locals and foreigners prefer to make it a regular visiting place in the summer season. What could be a better feeling than soaking the pleasure of mild sunlight while enjoying the beauty of Lake Como. Lake Garda and Lake Orta are another great ones in Italy.
  5. Florence – It is the capital of the Tuscany region in Italy and has many great churches and museums under its hood.  The Uffizi Gallery and Palazzo Pitti are some of the finest art places where you can look for a variety of arts and crafts. The San Lorenzo exhibition is held every year and it displays the finest paintings of Italy.

These are a few of the best places that you should not miss in Italy. The city is full of wonders and there is a lot more to explore.

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Study Abroad Study in Ireland

Visa Requirement to Study in Ireland: The Basic Information

Do you want to study abroad in Ireland? Know the prerequisites for visa application to study in Ireland for Indian students before you apply for the universities.

Having a college admission is not enough to study abroad. You need to meet the student visa eligibility to apply for the best colleges in Ireland.

There are different types of visas, and you need to know which one is ideal for you before applying. The student visa requirement by the Irish Government depends on the subjects you wish to study abroad and your age.

Types of Student Visa in Ireland

To study in Ireland, you can secure either of the two categories of visas as a student from the Irish Government.

S.NO.Study DurationVisa Category
1Study tenure less than 3-monthsC-type Study Visa
2Study tenure more than 3-monthsD-type Study Visa

Student Visa Requirement by the Irish Government

To get an Irish student visa, you need to have these documents.

  1. A passport with a minimum of 12-months validity post arrival at the country and two blank pages.
  2. Acceptance letter from any acknowledged Irish University.
  3. 2 colored passport-sized photographs of the applicant.
  4. Valid English language proficiency test (IELTS) scorecard copy with a minimum of 5-band score.
  5. Valid admission receipt or any document that proves the payment for course fees to the Irish Institution.
  6. A bank account statement showing sufficient funds (€7,000) to support your livelihood in Ireland during the course duration.
  7. Your educational (graduation) certificate
  8. Document proof to support gap in education (if any)
  9. A copy of overseas medical insurance
  10. Visa application covering letter expressing your commitment to leave Ireland on your visa expiry.
  11. In case of a type C Student visa, you need to provide proof of your return to your home country (A copy of return flight tickets)
  12. Academic ability is proof to show your ability to sustain the course chosen by you.

Apart from submitting the given documents, you will have to appear at the Irish Consulate or Embassy for your biometrics. Irish consulate has the sole discretion of calling students for a personal interview at the consulate.

While submitting the documents, you must remain careful that all your documents are in Irish/English. If you have some document in a language apart from Irish/English, remember to include a complete translation of the same.

The Requirement to Submit a Translated Document

If you submit a document in your regional language, it is best to arrange for these additional documents.

  1. A registered translator’s confirmation letter certifies the document as an exact translation of the original document.
  2. Ensure that the translation document has a translator
  3. Complete name and recognized signature of your supplier.
  4. Your translator’s contact information.

Other Documents and Fees

Once you have prepared your personal documents, applicants or candidates need to fill up the Visa application form and submit it to the Consulate.

Upon complete document submission, you will be paying a Visa fee of Rs. 4,100/- against a single entry visa. The payment makes the transaction complete until you further receive your data.

Categories
Free Education Overseas Education Study Abroad Study in Italy

How Much Does it Cost to Study in Italy?

When it comes to studying abroad in Italy, what is the first thought that comes to your mind apart from the free lifestyle? It is the cost of study in Italy for Indian Students.

Italy is known to be the most affordable and preferred destination for Indians for overseas education. The country has a high standard of education at an affordable rate. Moreover, the cost of living in Italy is low compared to other European nations.

So, how much does study in Italy cost?

Let’s find out in this article.

An Overview of Cost of Study in Italy

Italy has some of the top institutions in the world where international students can enroll in different study programs for affordable tuition fees.

An overview of the cost of studying in Italy is as below:

Content of ExpenseAmount in Euros
Tuitions Fees in Public Universities€900-€4000 per annum
Tuition Fees in Private Universities€6000-€20000 per annum
Cost of Accommodation€300-€700 per month
Transportation and Food Expenses€150-€250 per month

Cost of Education in Italy

The Italian Government has strict guidelines on the minimum and maximum tuition fees that vary with the institution, course, and level of study.

Public universities in Italy charge average tuition fees of €1500 per annum for undergraduate courses. The cost can vary between €900 and €4,000 per year. Private universities are expensive and have tuition fees as high as €6000 to €20,000 every year.

Affordable Italian University

If you are wondering which university is the cheapest yet the best academic option for you, here we have a list of universities with the lowest course fees:

  1. Camerino University
  2. Pisa University
  3. The Free University of Bozen-Bolzano
  4. Mediterranean University of Reggio Calabria

Cost of Living in Italy

Like the education cost, the cost of living in Italy is also pocket-friendly for international students. You can expect a monthly expense of €700 to €1500 here. The cost increases for students living in Milan or Rome.

The average expense of a student in different cities in Italy per month:

Top Cities in ItalyCost of Living Per Month
Rome€870-€1400
Milan€900-€1500
Bologna€750-€1100
Florence€850-€1300

The above expense includes your cost of accommodation, food, daily use of public transportation, and others.

Shared accommodation in Italy costs about €250-€500 per month. You can opt for university hostels for as low as €250-€300 expense per month.
Students not staying in college hostels spend about €150-€200 per month on transportation. A meal can cost you about €3 in a roadside shack or €8-€16 in a mid-range Italian restaurant.

The other expenses involved with overseas education are the student visa and travel insurance. The D-type visa for international students costs about INR 5000 for Indians. Students can get insurance coverage for as low as INR 15000 per year.

Some of the expenses that we often neglect are the expenses on the phone, Wi-Fi, relaxation, etc.

If the above costs seem suitable, proceed to apply for overseas education in Italy. If you want to study for free in Italy, look out for scholarship programs.

Categories
Study Abroad

8 Important Study Abroad Tips & Advice to Remember

Traveling to study abroad is surely one of the biggest achievements in one’s life.

It is exciting on the one hand and comes with several challenges on the other. One of the biggest challenges candidates face is finding good study abroad consultants in India. You need a trusted consultant to assist you with applying to different universities, preparing your documents, and applying for your visa.

But can you travel abroad for your studies without planning? Find out what you need to know before taking a step forward.

8 Memorable Advice for Overseas Education Aspirants

Here are 8 important tips every overseas education student must remember before proceeding on their journey.

  1. Plan in Advance:

Traveling abroad is not a decision you take one fine morning after you wake up.

If you aspire to study overseas, you need to start planning for the journey way in advance. You need to research the course, university, and how to apply. Once you have secured your invitation letter, it is time to get the visa. The hurdle doesn’t end there.

Even after you get your visa, you need to plan your accommodation abroad, line up apartments, arrange for funds, and many more. So, the earlier you plan, the smoother the entire process becomes.

  1. Indulge in Saving:

You don’t need reminding, but overseas education can turn out to be pretty expensive. Though you can secure a scholarship or get a grant, it is advisable to have extra savings. It helps you get through the apartment rentals, food, and occasional junks or traveling during your course tenure.

  1. Research and Arrange for Financials:

We understand that you can get a grant or scholarship to study overseas if you have a good academic record. However, it is important to understand which scholarship is more desirable and beneficial for your education.

Research the scholarship programs, check for the eligibility criteria and understand if it covers your course fees. In case the scholarship is not enough, you can always look up educational loans from trusted financial institutions.

  1. Learn the Language of Locals:

Traveling abroad for education is as good as being in a country as its resident. Hence, it is important you speak the local language. It helps in communicating with the locals to run a regular life at a place.

Imagine studying in Italy without knowing Italian!

Everyday life will turn out to be a hassle if you don’t know the local language.

  1. Arrange for a Local SIM Card:

When you travel abroad for your studies, it is needless to say that you will need a local SIM card at the earliest. It is best if you arrange for one prior so that you get to activate it instantly on arriving at your destination.

Even if you don’t get Wi-Fi instantly on arrival, you can stay connected to the world with your local SIM card.

  1. Get an International Credit Card:

When you are studying abroad, you need an International Credit Card that is acceptable by that country.

Every credit card might not work in the country where you study. American Express Card is a good example of that as it doesn’t operate everywhere.

Check the country’s credit card options, ensure there are no fees on foreign transactions, and get the card collected.

  1. Mix with Locals:

When you are in a new land, it is always advisable to connect with the locals and make friends. Being friends with the natives is a great way of learning the local way of life.

  1. Never Book a Return Flight:

Though the return flight tickets come cheaper, never book one. Always get a one-way flight ticket as you never know when you will be eligible for a holiday during your course.

Conclusion

There are several other pieces of advice that you might want to remember when you travel abroad for studies. It is recommendable to document every special moment abroad for future recollection of your journey. No matter what you do, plan the whole journey well in advance.