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Education Loan Calculator India : The finance formula, How to manage finances while studying abroad

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Education Loan EMI Calculator: Use Avanse Education Loan Calculator to evaluate your monthly EMI by providing loan amount, rate of interest and loan tenure. To know more visit : – PowerPoint PPT presentation

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Title: Education Loan Calculator India : The finance formula, How to manage finances while studying abroad


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Education Loan Calculator India
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  • The finance formula How to manage finances while
    studying abroad

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  • Studying abroad is an exciting, yet expensive
    affair . Most countries, other than the United
    States, allow international students to work off
    campus while studying. In the US, international
    students are permitted to work on campus for a
    maximum of 20 hours per week. While other
    countries, too, have a similar limitation on the
    number of hours, international students are
    permitted to find jobs off campus as well. For
    instance, in Canada, you can apply for a permit
    that allows you to work off campus for 20 hours
    per week during the academic session and 40 hours
    per week during vacations. The rules are not very
    different for students who wish to study in the
    UK and Australia.
  • By working on or off campus, you can expect to
    earn sufficient funds for your personal expenses
    and sometimes even living expenses. But very
    rarely will you be able to fund your entire
    education from this income. The work students
    typically do on campus includes working in the
    library, laboratory, dining halls, admissions
    offices, etc. Off-campus employment usually
    involves working in restaurants and at petrol
    pumps. The average minimum wage in the US is
    8.25 per hour. Thus, working for 20 hours at the
    minimum wage can fetch you about 660 a month.

4
GRADUATE ASSISTANT SHIPS
  • Students unable to work on or off campus can
    always apply for funding from the university
    itself. Most universities in the US and some in
    Canada and Australia offer students graduate
    assistant ships (GAs). A GA is an award which
    pays for your entire tuition fee as well as a
    monthly stipend which helps you take care of your
    living expenses. Students who get such assistant
    ships can work as teaching assistants (TAs) or
    research assistants (RAs). Typically, the job
    profile of a GA is to assist professors in
    grading papers, teach small classes and help with
    research. Assistant ships are extremely
    competitive and are granted to students with
    excellent grades and, at times, to those with
    work experience. Students can earn a stipend of
    up to US1,200 per month.

5
NEED-BASED FUNDING
  • If you do not land up with a GA or an on- or
    off-campus job, you can still apply to the
    university for merit- or need based funding. Many
    universities offer scholarships to students with
    excellent grades. Such scholarships are evidently
    not only competitive but also based on need.
    Thus, if you can demonstrate that you actually
    require the funds, you may have a better chance
    at receiving them directly from the university.
    Such scholarships generally cover 10-75 of the
    tuition fee.

6
EDUCATION LOANS
  • Finally, if you have no other choice, you can
    apply for education loans in India. Several state
    banks offer education loans of up to Rs
    30,00,000. The interest rate for these loans is
    around 11.75 and the repayment period starts one
    year after the completion of the course or six
    months after getting a job, whichever happens
    earlier. The loan must be paid within 12 years.
    The security required to obtain it is usually
    around 115 of the loan amount.
  •  
  • Banks in the US give loans to international
    students without security only if a citizen or
    green card holder with good credit history acts
    as their guarantor. The benefits of this loan
    include lower interest rates of around 7-9 and
    repayment period of close to 25 years.
  • A good way to fund your education is a
    combination of the several options listed here.
  • If you wish to pursue your Education Loan
    Calculator India, make sure that you plan your
    finances before applying for admissions or at
    least before you leave the country.
  •  
  • Source http//www.avanse.com/blog/the-finance-fo
    rmula-how-to-manage-finances-while-studying-abroad
    /

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https//www.facebook.com/AvanseEducationLoan
https//www.linkedin.com/company/avanse-financial-
services
https//twitter.com/avanseeduloan
https//plus.google.com/AvanseFinancialServicesLt
dMumbai
https//www.youtube.com/channel/UCcsuUx1EH1C08XmX2
embpug
8
  • Read more on Education loan calculator India
    http//www.avanse.com/calculators/emi-calculator/

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