USA education loan: Detailed process & must follow steps

USA education loan: Detailed process & must follow steps

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Event Description

Welcome to yet another information filled episode of Loanflix. This is perhaps the most awaited episode of Loanflix, amongst many others. This 17th episode is solely dedicated to explaining the details of the USA education loan process.

Many students travel to the USA every year to pursue their higher education dreams. Most students borrow education loans in order to fund their abroad education. An education loan for the USA ideally should not be a difficult process. However, due to the limited knowledge possessed by most bank officials, students are often misguided and they end up losing a significant amount of time and energy in the process. The main aim of this 17th episode is to give you a clear idea about the specific stages involved in the USA education loan process. The link to the episode is embedded at the end of this description.

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.

Following are some of the major talking points in this episode of Loanflix.

What kinds of education loans are possible?

The 17th episode begins with our expert, Damini Mahajan telling you about the education loan options available for students who wish to apply for an abroad education loan to study in the USA.

3 Major stages in the entire US education loan process:

Further ahead, Damini tells you all the major stages involved in the process to acquire an education loan to study in the USA. The further parts will elaborate on the same.

Stage 1: The USA education loan application process

What documents are issued from the banks’ side to provide proof of fund for education loan applicant during the application process? Are these documents readily available from government banks? What if they hesitate to issue these documents? What is a pre-admission disbursement? Do all universities ask students for the same? Watch out for this part of the episode to know the answers to these questions and more.

Stage 2: Deciding on admits and requesting I-20

In the USA education loan process, Is it possible to get a loan sanction letter from the lending bank before the I-20 is issued? Why do universities demand a loan sanction letter? Do students also need to disburse the loan amount to their respective accounts before even securing admission to a university or college? If these doubts regarding the USA education loan process have been on your mind since long, look no more. We tell you all about the loan sanction letter-I20 confusion and give you more information about related queries.

Stage 3: Post I-20 and when you go for a Visa

Do students need to show the expenses for the entire course duration in their accounts? What happens once the respective college/university issues the I20? How much loan amount should you generally apply for? Know all the answer to these questions and much more in this part of the episode.

When should students apply for an education loan?

This is the most persistent question on everyone’s minds. Know the right answer by watching this part of the episode.

Hack #17:

Which is the right time to apply for a USA education loan? Should students wait till they get the admission letter from their university to start the loan process, or should they initiate the process later? Did your bank ask you to apply after getting the admission letter? Who should you approach in order to avail your education loan on time? Damini tells you the easiest way out as always.

With every episode of Loanflix, we aim to give you a deep dive into the abroad education loan process. The education loan process for the USA can be gruelling what with bank officials only dishing out incomplete information to many innocent students. This is exactly the reason why we decided to develop this series which focuses on country-wise education loan processes. The 18th episode of Loanflix will give you information on the complete document requirements and the budget requirements for a Canada education loan. So stay tuned and keep checking this part of the website to avoid missing new updates.

 

Date And Time

Timezone : (GMT+05:30) Chennai

Location

India

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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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