In recent times however, lending institutions like NBFCs (Non-Banking Financial Companies) and facilitating companies such as Student Cover have come forward to offer high volume unsecured education loans to students going to study in countries like payday loan locations North Dakota the US, UK, Canada and Ireland
For long, the high cost of education kept middle class families from sending their children to study abroad in foreign universities. Those who sought quality education, settled for a graduate or post-graduate degree from a reputed institution in India instead of going for the same in countries like the US, UK, Canada or Ireland. It was thought that studying abroad was a luxury that only affluent parents could provide their children. For middle-class families in India, studying abroad without scholarship was unthinkable.
The primary reason for this was the ceiling of Rs 7.5 Lakhs placed on unsecured education loans by most commercial banks in India. 15 Lakhs, they were, at best, insufficient. This is because the cost of tuition fees alone in most foreign universities far exceeded this amount.
The secured education loans on the other hand were readily available at relatively cheap rates. However, they required collateral in the form of land or property of equal value. Read More
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