Funding Assistance

Financial Assistance

Many countries and universities offer Financial Assistance Programs designed to support both national and international students. These programs typically require a letter of acceptance from the university to initiate the application process.

Financial Assistance Programs often cover the cost of education and living expenses, with the amount varying based on the destination country. Examples include the Australian Government Research and Training Program (AGRTP) and Ontario Trillium Scholarship, which provide funding for tuition fees, health insurance, and other expenses over specified durations.

To qualify for these benefits, students must demonstrate strong academic performance and submit necessary documentation separately.

Alternatively, bank loans serve as an alternative means of financing education, covering expenses such as tuition fees, living costs, and health insurance. Grace Study Abroad specializes in guiding students through the process of securing bank loans, ensuring they have access to the financial resources needed to pursue their educational goals. For further information and assistance, please don’t hesitate to contact us. We’re here to help you every step of the way.

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What are the Criteria for Getting an Education Loan?

  • The student must be an Indian citizen above 18 years old.
  • The loan will be provided to the parents if the student is a minor.
  • The student must have an excellent academic background. If the bank feels the student doesn’t have the ability to meet the western curriculum, probably they will reject the application.
  • The students are required to submit the admission letter to the bank authority as part of processing the education loan. It is better to approach the bank once you receive the admission letter.
  • Banks usually entertain loans for professional or technical courses that are job-oriented. The chances for safe placement are high for such job-oriented courses, and the student will be able to pay back the loan in no time.
  • Insight International helps to speed up the loan process for your tension-free education experience.

What are the Documents Required for an Abroad Study Education Loan?

Following documents are necessary to submit when you apply for one. We recommend you keep all the documents well organised and ready to submit.
Letter of acceptance is the proof from the university about your secure seat in a particular course. It must be submitted to proceed with the bank loan.
The academic documents include your 10th certificate to the latest degree certificate. The attested copies of the academic documents need to be presented to evaluate the student’s eligibility for a loan.
The student’s passport is considered the ideal identity proof for an education loan. The student is meant to submit the front and back pages of the passport for a hassle-free process.
Banks will give you clear-cut instructions on the documents to be submitted for address proof as part of the loan procedure. Adhar card is the ideal address proof for applicants. ID card and Ration card are also acceptable to submit as address proof.
The latest Photographs of the student is a must and carry at least 4 photographs.
The co-applicant must be a close member of your family (father, brother or uncles) who have a steady income. The co-applicant’s salary certificate and bank statement are required for the loan process. Additional documents may be required for collateral security. The bank will share the details when you approach them.

What Does a Study Abroad Education Loan Cover?

The education loan covers the following expenses:
Most universities prefer the full payment of the tuition fee before the commencement of the orientation program. The education loan covers the entire tuition fees.
Some countries require candidates to have a certain amount of money in their bank accounts for living expenses. The student will have to transfer this advance money to the bank account taken in the chosen country. Usually, an abroad study education loan will cover students living expenses.
Health insurance is mandatory for international students. The abroad study education loan covers your health expenses. After all, health is wealth.
The flight ticket charges to your chosen country are usually very expensive. The education loan covers your flight ticket charges for a worry-free journey.
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