What is the margin of money required for studying abroad?

Here is complete information about margin of money required for studying abroad. Types of Education Loans.

As we all know the cost of higher education has raised so much that parents and students cannot afford finance. In most cases for pursuing higher education students and parents often borrow education loans from banks or Non-Banking Financial Companies (NBFCs).

Reasons for borrowing education loans

Cost of higher education is much higher in developed countries like US, UK, Canada, Australia, Japan and Ireland etc.
Students want to bear the cost of higher education on themselves instead of burdening their parents..
Lacking of finance but desire and willingness to achieve higher education.
Chances of better employment with good amount of salary packages are much higher in developed countries.

Types of Education Loans

There are two types of education loans that banks and NBFCs provide to students.

Secured loans – Bank provides secured loans against collateral security. Collateral security may be reridentional or commercial property.
Unsecured loans – For borrowing unsecured loans, no collateral security required. It requires third party guarantee along with creditworthiness of the borrower.

In most cases and courses banks do not provide the full amount or 100% finance of higher education.

Also Read :-

Education Loan in India

Top Education Loan Provider in India

Cheapest Education Bank Loan in India

UCO Bank Education Loan

PNB Education Loan

SBI Education Loan Schemes

Cheapest Education Bank Loan in India

Bank of Baroda Education Loan Schemes

PNB Saraswati Education Loan Scheme

What is Collateral Security