Study Abroad # Take Loans

Studying abroad is something most of us neglect, thinking the money it would cost. This leads into other issues as well and we miss the most exciting journey of our lives.
Well, if you are one of them, then I guess it is time you realize that no matter you study abroad or within the country, the cost is almost the same. That is first thing. Second, yes there are scholarships and financial aids provided. But then, what next. Sometimes even the scholarships are not enough. Well, in that case the banks provide loans.
Foreign education loans have similar terms as those prevailing in the country. In both the cases, the student and the guardian or parents are treated as co-applicants. There is no margin requirement for loans below four lakh.

The loan tenure depends on the amount of the loan taken. For example, loan up to 7.5 lakh taken under the Baroda scholar program is repayable in ten years. The tenure may increase if the loan amount is higher. Even more, you need not to start paying the loans the moment you complete the degree. You are given 6 months to 1 year after getting the job, whichever is earlier.

However, there are differences relating to the amount and margin requirements for local study vs. abroad study.
You need to take the leap of faith. The faith that says I am going to follow my dreams. This time either I will get the ground or learn how to fly. So, all of you, take the leap of faith, trust that everything will work out in your favor. It could be scary initially, but as long as you listen to your heart, you will always chart a new path for yourself.

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