5 Factors to Consider when Deciding Best Study Abroad Loan

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5 Factors to Consider when Deciding Best Study
Abroad Loan
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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

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Duration
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Co-signer or guarantor needed?
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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.

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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.

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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.

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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.

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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.

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Contact Us
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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
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