5 Factors to Consider when Deciding Best Study Abroad Loan - PowerPoint PPT Presentation
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5 Factors to Consider when Deciding Best Study Abroad Loan
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To make an informed decision doing your research on loans is must as which one suits you and your needs most is an important part of planning. if paying attention now means saving a couple of thousand down the road then to consider APRs and grace periods is well worth although they aren’t as exciting as all those enthralling elective courses. So, make sure you research and plan well. – PowerPoint PPT presentation
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Title: 5 Factors to Consider when Deciding Best Study Abroad Loan
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5 Factors to Consider when Deciding Best Study
Abroad Loan
www.elanloans.com
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Read on to know the five factors you should
consider when deciding which Loan For Higher
Education Abroad is best for you.
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- Annual Percentage Rate - APR
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- Currency
3
- Grace Period
4
Duration
5
Co-signer or guarantor needed?
www.elanloans.com
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Annual Percentage Rate - APR
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- To compare multiple loan offers you should use
Annual Percentage Rate - APR. With financing your
degree, APR is a legally mandated number that
takes into account all of the costs associated.
This includes any upfront or one-off fees, plus
the effects of compounding interest.
www.elanloans.com
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Currency
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- The currency that you use for repayments will be
the currency of your loan which can be rupees,
dollars or pounds. To compare the loan products
across different currencies makes it a little
difficult to compare loan products across varying
currencies.
www.elanloans.com
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Grace Period
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- Grace periods are given to all kinds of study
abroad loans. Students are exempt from making any
payments during this time which is also known as
the moratorium period. Although the students are
exempted from making payments during grace
period, you need to pay the interest that accrues
on your loan. Its worth considering, before
youre required to start repayments.
www.elanloans.com
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4
Duration
- The amount of time youll have to repay the loan
is called the duration. Some loan companies will
lock you into longer repayment schedules by
allowing lower monthly repayments, but, and you
may actually end up paying more over time.
Graduates are usually in a better position as
long as the loan amount covers costs and if they
repay their debt as soon as possible.
www.elanloans.com
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Co-signer or guarantor needed?
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- Often applicants need a local co-signor or
guarantor to support loan applications even among
the loan products actually available for
international students. Youll likely be asked to
show assets as collateral if youre looking to
secure funding options for overseas education
loan from India.
www.elanloans.com
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Contact Us
Appy now www.elanloans.com Address 'Krishna',
Plot No.10/2, I.T. Park, Opp. V.N.I.T, Behind
Infotech Tower, Parsodi, Nagpur, Maharashtra,
India-440022 Contact No. 7447757842 Email Id
info_at_elanloans.com
