Attending a grad school can be the best decision for your career, but finding ways to pay for school can be challenging. Your initial consideration would obviously be the programs and the location of the university, but there’s no way you can ignore the cost of education at the university. Naturally you would think your parents could pay for your education, like they may have done all these years. But for those who don’t have that option there are student loans!
There are different ways in which you can fund your education abroad, this article will introduce you to various aspects of a student loan.
A student loan is a loan product designed specifically to help students pay for post-secondary education and the associated fees - tuition, books and supplies, and living expenses. It may differ from other types of loans in that the interest rate may be substantially lower and the repayment schedule may be deferred while the student is still at the school.
Sometimes the family income and savings may not be enough to fund the student’s education. In such cases a student loan has to be taken from banks or non-banking financial companies (NBFC). A student loan can be used to sponsor the educational cost completely or partially.
A student loan ensures that the university education gets completed without any sort of financial hindrances.
The general perception is that loans are a bad debt. It means that you are taking a loan for something whose value will drop over time. It is not the same with student loan since it is an investment in yourself. You are investing in your own university education which will help you get a job. Through which you can earn much more than the loan amount.
Student loan refinancing is a way of paying off your old loan and obtaining a new loan with different repayment terms and at a new interest rate (hopefully lesser interest rate).
Basic KYC documents of borrower and co-borrower are required. Financial documents of borrower and co-borrower are required as well. At the time of application, Yocket loan assistant or the bank will provide you with the specific requirements.
There are many loan providers such as banks and non-banking financial companies who provide student loans. Finding the best loan provider to suit your profile is very difficult and involves a lot of research. Yocket can help you in making this process hassle free by evaluating your profile and connecting you to the best loan provider depending on your profile.
Yocket’s aim is to provide you with the best loan providers depending on your profile. We are continuously working on getting more people on our network so that our users can benefit from these services.
If you wish to avail Yocket’s loan assistance program, you can fill up the form here. We will then assign a Yocket assistant to you who will help you throughout the loan procedure. The Yocket loan assistant will review your profile and requirements and connect you to the most appropriate loan provider.
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Yocket is the largest regional online community for students with a desire to pursue higher education abroad.
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