Education Loan Transfer: Get to know all the steps

Education Loan Transfer: Get to know all the steps

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Event Description

The 13th episode of Loanflix, ‘ Education loan transfer: All you need to know! ’ is here. We discuss a very important topic in this episode. Read on to find out more about it. You can find the episode at the end of this event description.

Imagine this - you have borrowed an abroad education loan from a particular lender after a lot of scrutinies, thinking that their loan repayment policies are the best. The moratorium period is over and the loan repayments start. Once the repayment starts, you find out that your lender has increased their education loan interest rates all of a sudden, without your knowledge. If you are someone who is stuck in a similar situation, the following question has already crossed your mind. What next? How do I get out of this? This is where an education loan transfer comes into the picture.

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.

This 13th episode of Loanflix gives you the following information on an abroad education loan transfer.

 

What is an Education Loan Takeover?

This must be the most prevalent question in your mind right now. How exactly can you transfer your existing education loan to a different provider? Know all about the education loan transfer process at the beginning of this episode.

 

Do interest rates change in a takeover loan?

Coming to the most interesting part of the episode, did you know that interest rates differ for a takeover loan than a fresh abroad education loan?  Know all about the change in the interest rates in this part of the episode.

 

Conditions for a takeover loan

Is it possible to opt for a student loan refinance if your current lender is a private bank/NBFC, and you wish to transfer education loan to a public bank? If yes, then what are the conditions under which you can do so? Get the answers to all these questions at the beginning of this 13th episode.

 

Some more terms and conditions regarding education loan transfer

If you wish to transfer collateral abroad education loan, What happens to your collateral when you transfer education loan? Is it transferred to the new bank/lender? How is it done? What is to be done if you had previously taken a non-collateral education loan? What is the loan margin offered? Know the answers to these important questions in this part of the episode.

 

WeMakeScholars help

Does WeMakeScholars also provide you with assistance regarding your education loan transfer? How do we do it? How do you stand to benefit by approaching WeMakeScholars for a student loan refinance? How can our financial officers help you reduce your education loan baggage? Know all about it in this part of the episode.

 

Conclusion

If you are stuck with a loan provider who has been charging you with a huge amount as interest and if you opt for an education loan transfer and don’t know how to go about it, do watch the 13th episode of Loanflix without fail. We hope it helps you ease your worries. In the 14th episode of Loanflix, we tell you all about loan margins and how they are significant to the abroad education loan process.

Date And Time

Timezone : (GMT+05:30) Chennai

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Speakers

Damini Mahajan

Damini Mahajan
CoFounder & CEO, WeMakeScholars 

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. 

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