Education Loan For Abroad Studies
While students and their guardians are always on the lookout for the best study abroad options, they are always considering costs. Many students, during their research phase, rule out good options only because of the tuition fee. This is because most of them are not aware of the number of options – such as loans and scholarships – that are out there to ease their financial burden.
Free information helps create trust and adds to their credibility. Take for instance GyanDhan, which is actually an Education Financing Platform. Even before prospective customers contact GyanDhan, they can avail of a lot of information from the website.
GyanDhan is one startup that has created a positive vibe in the education market space. Unlike many other overseas education consultancies out there, GyanDhan does not charge students any money for providing them with basic information. In fact, they believe in providing the student with every bit of information possible, and only connecting the dots where needed.
It is their tie-up with some of the world’s best universities, some of India’s top banks, Non-Banking Financial Companies (NBFCs), and international players that really help students. On their own, students find it really hard to reach out to these institutions to get their work done. But going through an organized channel like GyanDhan streamlines the process and assures these institutions as well, because of GyanDhan’s market credibility and trust factor.
On several occasions, GyanDhan has gone out of the way to convince banks and NBFCs to grant loans to students in unusual cases. There are many problems with the collaterals of student’s guardians. The guardian might not have a good CIBIL score at times. And then there are cases where the student or guardian might not have any collateral at all. Regardless of the complexity, GyanDhan has helped every student acquire the highest concession on their educational costs.
Availing Education Loan
GyanDhan helps the student at each step of the process of availing a loan. If students reach out to lenders themselves, the process might take 15 or more days. Applying through GyanDhan, the turnaround time reduces to half or less. The student gains an extra advantage by having a checklist of all the documents needed to take the application further.
The company assigns a Personalized Loan Counsellor to each customer, to avoid any lag in their loan application process. Students can also track the status of their education loan with the help of the Loan-Tracking tool available on GyanDhan’s website.
The moment students start researching colleges to study abroad, they shortlist and eliminate colleges on the basis of the tuition fee. Taking into account other expenses, such as accommodation costs, insurance costs, living expenses, application fee, and airfare, students and their parents start getting headaches looking at the cumulative sum.
Education Loan Options
GyanDhan has tie-ups with some of the leading banks, including State Bank of India (SBI), Bank of Baroda, and Axis Bank. While all banks have different interest rates and policies, the best thing is the number of flexible options GyanDhan provides students with. Students with little to no collateral still have a chance to avail an unsecured loan, given the range of options provided by GyanDhan.
All banks have their own advantages. With SBI, there is the option of a loan insurance – Rinn Raksha Insurance, which provides the student with an extra discount on the interest rate. For example, a student who has to pay an interest rate of 10.75 percent, has to pay an interest rate of only 10.25 percent after buying the Rinn Raksha Insurance. It is a one-time cost that protects the student’s guardians from making any further payments, in case something unfortunate happens to the student.
GyanDhan has tied up with top NBFCs such as Credila, InCred, Avanse, and Auxilo. If students don’t have an earning co-applicant, another good alternative is international players. By connecting the student to some credible international players like MPower Financing, GyanDhan does not leave any stone unturned in providing students with enough loan options to suit their requirements and situation.
Through effective communication and regular follow-ups, GyanDhan has been able to provide students with loans in cases where it seemed far from possible. In one case, a student without collateral was granted a loan by an NBFC, by including the collateral owned by the guardians of another co-applicant who had applied for the same university.
Students whose Co-applicant have had bad CIBIL scores, collaterals of insufficient value or collaterals not complying with the lender’s policies, have all been granted loans – thanks to GyanDhan’s credibility and convincing abilities.
Collaboration of GyanDhan and One Window
GyanDhan and One Window Overseas Education have been working together for around 3 years to help study abroad aspirants throughout the university application and education financing process. GyanDhan refers to its students, who want assistance regarding admissions in different universities abroad, to One Window. Similarly, students who connect One Window for university application and are looking for education loan assistance, are referred to GyanDhan for first-rate assistance. In this way, these two entities together become a one-stop solution for students to get the best help in terms of university application, scholarships, and free education loan assistance.
At a time when startups are wrapping up their businesses, GyanDhan looks to set a benchmark and establish a foothold in the market for a longer run. This is all because of their openness. Openness in transparency levels, and the willingness to learn and keep evolving.