Over the past few years, education abroad has gained immense popularity among Indian students. This steady increase in the number of students wishing to go abroad has been constant in recent years due to various factors such as better job prospects or ease of admission. Although the second wave of Covid-19 shattered the economic structure of several families, there has been a steady increase in the number of students seeking financial solutions to enjoy their dream education abroad. Here are some platforms that can help you finance your studies abroad:
We do academics: WeMakeScholars is an organization supported by the Indian Government Department of Informatics. Their main motivation is to provide loan support to students eager to study abroad. They take a completely impartial approach to providing education to students. This is a completely free online initiative. They are associated with more than 14 banks, both public and private, and students can get the best study abroad loan according to their profile.
They perform many functions on behalf of students. They negotiate with the banks on behalf of the students and also demand the best ROI from the bank as they are directly associated with the head offices of banks and financial institutions. They provide full customer support to students whenever they need it. Thousands of students apply for international scholarships and loans through We Make Scholars and get the best education according to their profiles.
Gyandhan: Gyandhan offers many types of services for students who are planning to study abroad. These services not only include financing and advice, but also provide services such as scholarships, travel, visa advice, currency exchange, matrix SIM card and accommodation. They have many partners across the country such as Axis Bank, Avanse, Bank of Baroda, ICICI Bank etc. They have their 3 step loan process which made it very easy for students to get loan without any hassle which includes – online approval, lender approval, loan disbursement. They believe that an investment in knowledge earns the best interest.
Financing prodigy: It is a leading cross-border lender for international postgraduate students that lends based on the student’s future income potential rather than their current situation, and does not require any co-signer or collateral for the loan.
It offers study loans without surety, co-signer or guarantor in more than 750 schools around the world, in the fields of business, engineering, law, public policy and health sciences.
Prodigy Finance’s unique global lending model is forward looking and assesses applicants on many variables. The entire loan application process takes place online, with the student signing their final loan agreement once they reach campus.
Interest is calculated on the basis of simple interest and consists of a fixed margin, determined by Prodigy Finance, and a variable base rate, on the basis of 3-month LIBOR. There is only one fee for each loan (no hidden surprises) and there are no penalties for prepayments.
It is not a bank, but their loans are financed each year by a community of investors who derive both financial and social returns from them.
Leveraging Edu: This platform helps students across India identify and choose the most suitable careers and higher education options, with personalized engines that guide students every step of the way.
Its AI system helps students identify the best mentors and personalized workshops to prepare them for the journey they are about to take. Their modern approach and AI system are guided by data analysis techniques providing unique and personalized experiences to the student. Subsequently, along with other services, the platform also provides students with value-added services such as student loans to help them get a dream education.
Funding of the jump: Thousands of students fly abroad every year to pursue higher education every year and the biggest problem they face abroad is the unavailability of financial services like loans and credit cards, Because they have no credit history in this country, even though they have loans and credit cards, they have to pay twice as much interest as local citizens.
This is where bond financing comes in, they are headquartered in San Francisco and they give student loans by valuing their data in India even at very nominal interest.