Student Loans in India : The Truth About Student Loans - PowerPoint PPT Presentation


Title: Student Loans in India : The Truth About Student Loans


1
Student Loans in India
2
The Truth About Student Loans
3
  • We all love True or False questions! You have a
    50/50 chance at getting the question correct,
    dont you? But what if someone could help you
    improve your chances beyond the flip of a coin?
    What if we could remove 50 of your doubt on
    questions around an important topic like Student
    Loans? Join us on a little journey as we debunk
    myths and answer questions that many MBA students
    encounter as they look to fund their programs.
    Lets do it!

4
  • 1. True or False I can get a loan for tuition
    AND living expenses.
  • TRUE. You can borrow funds for tuition, fees
    and living expenses up to the school approved
    Cost of Attendance budget. Be sure to check with
    the school for any budget appeals as all loans in
    the US must be certified and approved by the
    school.
  • 2. True or False I need to show assets to secure
    a loan.
  • FALSE. Many lenders will offer loans to
    students with a co-signer or with the school as
    the guarantor. Some newer and innovative
    peer-to-peer lenders will assess students on
    their future potential and not require any
    collateral or co-signors.

5
  • 3. True or False Interest rate is the only thing
    that I should look for in a loan offer.
  • FALSE. While interest rate is a very
    important component of the loan offer that will
    determine your monthly payments, students must
    consider all fees and interest accruals when
    comparing offers. Most lenders will be required
    to share the APR (annual percentage rate), which
    will provide the effect of all costs of
    financing.
  • 4. True or False I must notify my school that I
    am taking a loan.
  • TRUE. In the US, students must complete a
    Financial Aid form with their school, confirming
    any loans or financial aid that they will be
    using to fulfill their program budget.

6
  • 5. True or False I can get all of the money
    upfront.
  • FALSE.All US schools require that the
    loan proceeds are disbursed according to the
    school schedule and will often split the funds
    evenly over the program terms. Please contact the
    schools financial aid office for any special
    arrangements.
  • 6. True or False The length of the loans term
    and the loans total interest cost have an
    inverse relationship.
  • TRUE. While a loan with a longer term (i.e.
    20 years vs. 10 years) will provide the borrower
    with more flexibility and lower monthly payments,
    the total interest cost over the life of the loan
    will be significantly greater than a shorter loan
    term. Make sure to consider the best option for
    your budget.

7
  • 7. True or False I can use a Letter of
    Confirmation from the lender for my VISA
    application.
  • TRUE. Once you have completed your loan
    application and received an approved offer,
    lenders can provide you with the Letter of
    Confirmation that can be used for your I-20 form
    and VISA application.
  • 8. True or False I need to repay my loans
    immediately.
  • FALSE. Most lenders will not require
    repayment during school and many will offer a
    grace period of 6 to 9 months following
    graduation. Be sure to read the details of the
    loan offer regarding early repayment and any
    associated fees.

8
  • 9. True or False I dont have to pay back my
    loan.
  • FALSE.While there are a few special loan
    forgiveness programs available, loans must be
    repaid in the provided term of 10 to 20 years
    depending on the offer. If the borrower
    encounters problems making their monthly
    repayments, many lenders will offer forbearance
    arrangements for financial hardship, health
    issues or extraordinary circumstances.
  • 10. True or False US loans must be repaid in
    USD.
  • TRUE. Loans offered in the US must be repaid
    in USD, so make sure to think about how you will
    repay your Student Loans in India if you return
    to your home country outside of the US. Many
    lenders offer a variety of repayment methods to
    make it as easy as possible, but currency
    fluctuations will be the responsibility of the
    borrower.
  • Source http//blog.accepted.com/2015/10/19/the-
    truth-about-student-loans/

9
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
10
Read more on Student Loans in India
http//www.avanse.com/avanse-education-loans/
Thank You..!!!
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Student Loans in India : The Truth About Student Loans

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Title: Student Loans in India : The Truth About Student Loans


1
Student Loans in India
2
The Truth About Student Loans
3
  • We all love True or False questions! You have a
    50/50 chance at getting the question correct,
    dont you? But what if someone could help you
    improve your chances beyond the flip of a coin?
    What if we could remove 50 of your doubt on
    questions around an important topic like Student
    Loans? Join us on a little journey as we debunk
    myths and answer questions that many MBA students
    encounter as they look to fund their programs.
    Lets do it!

4
  • 1. True or False I can get a loan for tuition
    AND living expenses.
  • TRUE. You can borrow funds for tuition, fees
    and living expenses up to the school approved
    Cost of Attendance budget. Be sure to check with
    the school for any budget appeals as all loans in
    the US must be certified and approved by the
    school.
  • 2. True or False I need to show assets to secure
    a loan.
  • FALSE. Many lenders will offer loans to
    students with a co-signer or with the school as
    the guarantor. Some newer and innovative
    peer-to-peer lenders will assess students on
    their future potential and not require any
    collateral or co-signors.

5
  • 3. True or False Interest rate is the only thing
    that I should look for in a loan offer.
  • FALSE. While interest rate is a very
    important component of the loan offer that will
    determine your monthly payments, students must
    consider all fees and interest accruals when
    comparing offers. Most lenders will be required
    to share the APR (annual percentage rate), which
    will provide the effect of all costs of
    financing.
  • 4. True or False I must notify my school that I
    am taking a loan.
  • TRUE. In the US, students must complete a
    Financial Aid form with their school, confirming
    any loans or financial aid that they will be
    using to fulfill their program budget.

6
  • 5. True or False I can get all of the money
    upfront.
  • FALSE.All US schools require that the
    loan proceeds are disbursed according to the
    school schedule and will often split the funds
    evenly over the program terms. Please contact the
    schools financial aid office for any special
    arrangements.
  • 6. True or False The length of the loans term
    and the loans total interest cost have an
    inverse relationship.
  • TRUE. While a loan with a longer term (i.e.
    20 years vs. 10 years) will provide the borrower
    with more flexibility and lower monthly payments,
    the total interest cost over the life of the loan
    will be significantly greater than a shorter loan
    term. Make sure to consider the best option for
    your budget.

7
  • 7. True or False I can use a Letter of
    Confirmation from the lender for my VISA
    application.
  • TRUE. Once you have completed your loan
    application and received an approved offer,
    lenders can provide you with the Letter of
    Confirmation that can be used for your I-20 form
    and VISA application.
  • 8. True or False I need to repay my loans
    immediately.
  • FALSE. Most lenders will not require
    repayment during school and many will offer a
    grace period of 6 to 9 months following
    graduation. Be sure to read the details of the
    loan offer regarding early repayment and any
    associated fees.

8
  • 9. True or False I dont have to pay back my
    loan.
  • FALSE.While there are a few special loan
    forgiveness programs available, loans must be
    repaid in the provided term of 10 to 20 years
    depending on the offer. If the borrower
    encounters problems making their monthly
    repayments, many lenders will offer forbearance
    arrangements for financial hardship, health
    issues or extraordinary circumstances.
  • 10. True or False US loans must be repaid in
    USD.
  • TRUE. Loans offered in the US must be repaid
    in USD, so make sure to think about how you will
    repay your Student Loans in India if you return
    to your home country outside of the US. Many
    lenders offer a variety of repayment methods to
    make it as easy as possible, but currency
    fluctuations will be the responsibility of the
    borrower.
  • Source http//blog.accepted.com/2015/10/19/the-
    truth-about-student-loans/

9
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
10
Read more on Student Loans in India
http//www.avanse.com/avanse-education-loans/
Thank You..!!!
About PowerShow.com