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A Comprehensive Guide To Education Loans With Ixora Global

Embarking on a journey of overseas education holds the promise of a prosperous future. However, the financial burden associated with studying abroad can often pose a significant challenge for students. While scholarships and bursaries offer relief, they can be fiercely competitive and elusive.

In such scenarios, education loans emerge as a lifeline for students striving to finance their international education aspirations. This article serves as a roadmap, offering invaluable insights into the loan application process, requisite documentation, eligibility criteria, and more.

Loan Eligibility Criteria:

Before delving into the loan application process, it’s imperative to leverage your eligibility. Typically, Indian loan providers assess candidates based on the following criteria:

  • Citizenship: Applicants must be Indian citizens.
  • Admission Confirmation: Students should possess confirmed admission to recognised international educational institutions.
  • Age Requirement: Candidates aged between 18 and 35 years are eligible.
  • Course Level: Loans are typically extended for graduate, post-graduate, or PG Diploma courses.
  • Co-Applicant: Full-time courses necessitate a co-applicant, who can be a parent, guardian, spouse, or in-law for married candidates.

Loan Documentation:

Streamlining the application process, banks and loan disbursing bodies minimise documentation requirements, ensuring hassle-free loan approvals.

Essential documents include:

– Duly filled and attested application form

– 2 passport-size photographs

– Academic mark sheets (10th/12th or most recent education certificate)

– Statement of study costs

– Aadhaar Card and PAN Card of the co-applicant

– Identity proof, proof of age, and proof of residence (Rental agreement, Ration card, Utility bills)

– 6-month bank statement of the student or co-borrower/guarantor

– Proof of income (Form 16, Salary slips, ITR, or IT assessment order)

– Documents reflecting assets of the applicant or co-applicants

Enhancing Loan Eligibility:

To bolster your chances of securing an education loan, consider the following strategies:

  • Maintain an impressive academic record.
  • Excel in qualifying exams such as TOEFL, IELTS, GMAT, GRE.
  • Secure admission offers from renowned universities.
  • Showcase robust financial backing from parents or guardians.
  • Highlight promising future employment and income prospects.

By adhering to these guidelines and presenting a compelling case, aspiring students can enhance their eligibility for education loans, paving the way for fulfilling their dreams of international education.

To know more about study-abroad ventures, let’s connect online through these platforms:
If you want to study abroad, call or WhatsApp us at +919091011101.
You can also email us at contactus@ixorainternational.in
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