Overseas Education

Overseas Education

Overseas education transforms a person to live a better life and, more importantly, in a social well being. This is a fact any of us cannot deny that.

Today, education has been globalized, and many institutes are offering a large number of undergraduate, graduate, and post-graduate courses. Even parents are ready to give their children the best possible education.

As a result, the number of students opting for Overseas Education is growing day by day. Still, a retarding part for students exploring education abroad is the high cost of studies, which can be longer than ten times that in India.

To get a study visa, adequate funds need to be given to the embassy. The supplies should be enough to meet the fee and the living costs for at least one year. If you are seeing forward to studying in the United States of America (USA), discussed below are some of the choices you could think about funding your education.

University/College Funding Choice/Financial Help

The prospects for getting financial support for undergraduate courses are minimal. Universities give financial aid to international students only based on excellence. Courses like engineering, biological sciences are provided preference over areas like social sciences and management.

An international student seeking financial aid has to fill the Foreign Student Financial help Report, sponsored by the college. The important details that will be needed will be as follows

  • The annual income of the applicant
  • The yearly income of the applicant’s parents
  • Annual living expenses of the applicant

In most cases, the assistance is provided at the onset of the studies, but in some cases, there must be a delay of one or two semesters.

Post Graduate Courses

Post-graduate students also require to fill in any conditions at the time of filling the application form. The varying types of financial assistance available include:

  • Scholarships

Scholarships are a great source of funding that one does not have to pay back. Mostly they are granted to outstanding students based on merit. They range from small-one-time only awards to full-expenses that deliver all the tuition and expenses throughout the college tenure.

  • Assistantship

The assistantship is an excellent way of earning funds enough to cover living expenses. A cash stipend is paid for an assistantship. A scholar can work for a maximum of 20 hours a week. The work usually consists of teaching and research activities. Often, teaching and analysis activities need to be determined before assistantship is given.

Who should apply for financial aid?

  • Students having an excellent academic record
  • Students having teaching experience at the undergraduate level
  • Students having research cases identical to that of the Department
  • Students having high scores on language proficiency tests

Education Loan

International student loan

For an education loan in the US, a Student needs to be attending one of the approved schools and have a US citizen or permanent resident as a co-signer to apply for the loan. The co-signer must have a great credit history.

The chances for the loan’s approval increase with a good co-signer, and another advantage of having a good co-signer is a better interest rate. However, some banks do not need a co-signer.

The advantages of an international student loan

  • No collateral requires
  • Flexible repayment terms
  • No application fee
  • Lower interest rate as compared to what is charged in India

Eligibility for Overseas Education

  • Proof confirming the admission
  • Satisfactory academic record in the past


No collateral is needed for loans up to Rs. 4 lakh. Collateral in the form of third-party security is needed for loans ranging from Rs. 4 lakh and up to Rs. 7.50 lakh. One hundred per cent collateral in the form of immovable property/LIC policy/RBI bonds is required for loans above Rs. 7.50 lakh.

Rate of Interest for Overseas Education

Interest rates are generally between 10 per cent to 15 per cent. Banks offer a choice between fixed and floating rates of interest. Foreign banks typically charge fixed rates of interest.

Avail your Loan with Dialabank for Personalized Assistance.

Read Other Related Articles

Banks To Give Education Loans On The Basis Of Placement Records
Finance Your Education With Education Loan
Education Loan Union Budget 2014-15
What Will Go Cheaper and Expensive As Per Budget 2014-15? Transferring Money to India


I have read the Privacy Policy & Agree to Terms & Conditions and authorize Dialabank & its partner institutions to Call or SMS me with reference to my application.