Welcome to the 8th episode of Loanflix, which is titled 'Education loans from Government Banks - Issues & Solutions'. Taking an account of people's opinion is a common ritual when it comes to taking major decisions, especially if you want to decide on a lender for an education loan abroad. There are many myths that have been surrounding public banks for quite a while now. Let's understand the truths behind these myths in this 8th episode.
Loanflix is the most comprehensive web-series on abroad education loans. The motive is to empower students and their guardians so that they can take an informed decision about the education loan. Some of the common myths that will be covered in this episode are as follows:
Myth 1: Loan Margin - Government banks not sanctioning 100% loan amount
For students who are looking to pursue their studies with the help of an education loan abroad, it is important to be clear about certain terms regarding the same. What exactly does the term, 'Total expenses' mean? What is covered under Total expenses? What is meant by 'Loan Margin'? All these terms are clearly explained by our experts in this part of the episode. Also, the truth behind the myth will be unveiled in this section. To know more, do watch the Loanflix video below.
Myth 2: Government Banks don't release living expenses for education loan abroad
What is the truth behind this statement? Is it a fact? Do government banks require proof of living expenses? If not, who is propagating this? Is this statement true? What are the terms and conditions laid down by Government banks before they release the expenses? Find out the answers to all these questions in this part of the video.
Myth 3: Requirement of I-20 form/ admission letter before loan sanction
Do government banks disburse loans without an admission letter or an I-20 form from your university? Is it mandatory to provide the loan sanction letter to universities in order to get an admission letter/I-20 form? or is it just a misunderstanding? Watch this section of the episode where our experts clarify such doubts in a simple manner.
Myth 4: Release of money before visa
This part of the episode gives clear, reasonable answers to questions like: Do Indian banks release the loan amount before visa-approval? or Has the policy changed? How? What are some of the rules laid down by certain international universities before they sanction an I-20 form or the admission letter?
Issues & Solutions
In this section, our experts clear the air about how candidates may be confused regarding certain policy upgradations done by some universities and embassies. For example, Did you know that most of the universities in the US accept fee payments only through Flywire? This and many other policy updates and problems related to them are discussed in detail in this part of the episode.
Towards the end, we also tell you the reason why we decided to make this episode, and how WeMakeScholars plays a crucial role in simplifying your education loan process.
We hope that this episode clarifies many of your misconceptions surrounding education loan abroad. If it did help you to understand the abroad education loan policies better, do stay tuned for the 9th episode in this series, titled, 'Unsecured education loan -Interest rates, full process detailed', in which our experts explain every single detail about applying for unsecured education loans from NBFCs in India. If you did find this episode useful, please don't forget to like this video and subscribe to our YouTube channel to avoid missing any updates about our future episodes.
Date And Time
Timezone : (GMT+05:30) Chennai
Share this event
Damini is the Cofounder & CEO of WeMakeScholars.com. It’s a BITS start up supported and funded under the IT Ministry, Govt. of India. The organisation’s motive is to offer unbiased collateral/non-collateral based education loan support to students who are planning for studying abroad. As this initiative is under the digital India campaign, it's at free of cost. WMS works with 14+ banks (public/pvt) in India and help you get the best edu loan matching your profile.
Prior to launching WeMakeScholars, Damini had done her masters from the University of Sheffield, UK. Her education was funded under the Developing Solutions Masters Scholarship which covered her full tuition fee ($ 38,000). Damini is also a gold medalist in her Bachelors and also won the outstanding student award from the Vice president of India.
She was the speaker at TiECon 2016 at Silicon valley, San Francisco in the social entrepreneurship segment. She was also covered in the Asian Entrepreneur magazine in the “Women on Top in Tech”, a global series of Women Founders, CEOs & Leaders in Tech.