Welcome to the 20th episode of Loanflix, titled, Germany Education Loan: Blocked Account & Other Process. Many engineering graduates opt for Germany as their preferred location for higher studies. Although the tuition fees for most courses in Germany are generally cheap, the living expenses are not. It is common knowledge that most students who opt to go to Germany for their higher studies borrow an education loan to fund the same. This 20th episode of Loanflix aims to inform you all about how you can fulfil the requirements placed by the German embassy for those who have borrowed a Germany education loan
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.
The following points will be covered in this episode.
What kinds of education loans are possible for Germany?
The very first point that students concern themselves about is the nature of the education loans that are accepted by the German embassy. Our expert on international studies and the speaker of this episode, Damini Mahajan, tells you about the education loan options for students who need to fund their higher education in Germany.
When do you need a loan sanction?
As a student who wishes to study abroad, you may have often wondered about when you will be needing funds in order to obtain your student visa in a timely manner. In this part of the episode, Damini tells you all about the phases in which you might be needing funds.
What is a Blocked Account?
Every student who has borrowed an education loan talks about the blocked account. At this point in the episode, we tell you all about the Blocked account concept in Germany. What goes into a Blocked account? How can you purchase one? How much money is required in a blocked account? All the above questions are answered in this part of the episode.
How to fulfill the German embassy requirements through a blocked account?
Every country’s embassy has certain rules and regulations that need to be fulfilled, when it comes to funding. In this part of the episode, you can learn all about how you can fulfil these requirements placed by the German embassy for students who have taken an education loan for MS in Germany. So keep a lookout for this section in the episode.
When should I apply for an education loan for MS in Germany?
It is always beneficial to a student if they know the exact time at which they are supposed to apply for a Germany education loan. For those who are unaware, do not worry. This part of the episode will tell you when the right time to apply for an education loan is.
A unique problem in the Germany education loan process.
Did you know that most public universities in Germany charge very little tuition fees? If that is the case, then why do you need to apply for an education loan for your higher studies in Germany? Do keep a lookout for this part in the episode, where Damini tells you all about a unique problem faced by most students who apply for an education loan for Germany.
When you decide to study in any country abroad, you need to keep in mind that the embassy of a particular country has set some rules and regulations regarding the funding sources used by migrant students. While applying for an education loan, you need to have a clear idea about these rules and regulations. We hope that this video gives you ample information regarding the same. And it doesn’t end here, our next Loanflix episode will tell you all about the education loan process requirements of the UK. So stay tuned and do watch out for this part of our website to stay updated about the upcoming videos.
Date And Time
Timezone : (GMT+05:30) Chennai
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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.