Hurdles faced during the process of Overseas Education Loan

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Hurdles faced during the process of Overseas
Education Loan
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Selected University
Choice of Course
Collateral
Disbursed Amount
CIBIL Score
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• Selected University

A student who receives confirmation from a
university listed higher in global rankings may
get the application processed faster and may also
be eligible for lower interest rates.
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• Choice of Course

Certain courses such as STEM courses (Science,
Technology, Engineering, and Management) are
thought to ensure a high chance of employment due
to the demand and scope for STEM graduates.
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• Collateral

Banks need collateral as security for loans
exceeding a certain amount. There are options for
Unsecured Overseas Education Loans wherein
collateral is not required, however, the
unsecured loans are granted at a higher rate of
interest.
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• Disbursed Amount

Banks disburse a particular percentage such as
80 or 90 and the applicant has to arrange the
remaining amount on his own. This must be taken
into account before signing up for the education
loan.
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• CIBIL Score

This is a very important parameter that lenders
look into before considering someones Education
Loan for Abroad Studies. The Credit Information
Bureau (India) Limited (CIBIL) is a credit
information company licensed by Reserve Bank of
India.
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www.overseas-educationloan.com