Platforms that help finance overseas education for Indian students

During the past few years, education abroad has gained immense popularity among Indian students. This steady increase in the number of students aiming to go overseas has been consistent in the past few years due to various factors like better job prospects or ease of admission. Although the second wave of Covid-19 has broken the economic structure of several families, there has been a constant rise in the number of students looking for financial solutions to avail their dream education overseas. Here are a few platforms that can help you finance overseas education:

We Make Scholars: WeMakeScholars is an organisation upheld by the IT Ministry, Government of India. Their main motive is to provide loan support to the students looking forward to foreign education. They follow a totally unbiased approach towards providing education to the students. It is an online initiative and is completely free of cost. They are associated with more than 14 banks, both public and private sector and students can get the best abroad education loan as per their profile.

They perform many functions on the behalf of the students. They negotiate with the banks on the behalf of the students and also ask the bank for the best ROI as they are directly associated with the head offices of the banks and financial institutions. They provide complete customer support to the students whenever they require. Thousands of students apply for international scholarships and loans through We Make Scholars and get the best education as per their profiles.

Gyandhan: Gyandhan offers many kinds of services to the students who are planning to study abroad. These services not only include financing and counselling but also provide services like scholarships, travel, visa counselling, currency exchange, matrix SIM card and accommodation. They have many partners across the country like the Axis bank, Avanse, Bank of Baroda, ICICI Bank etc. They have their 3-step loan process that has made it very easy for the students to obtain a loan without any kind of hassle which includes- online approval, lender approval, loan disbursal. They believe that an investment in knowledge pays the best interest.

Prodigy Finance: It is a leading cross-border lender for international postgraduate students that lends based on student's future earning potential rather than his current circumstances, and requires no co-signer or collateral for the loan.

It offers education loans without the need for security, a co-signer or guarantor at more than 750 schools around the world, in the fields of business, engineering, law, public policy and health sciences.

Prodigy Finance’s unique global credit model is forward-looking and assesses applicants on numerous variables. The entire loan application process takes place online, with the student signing their final loan agreement once they’ve reached campus.

Interest is calculated using simple interest and is made up of a fixed margin, determined by Prodigy Finance, and a variable base rate, using 3-month LIBOR. There is only ever one fee for each loan (no hidden surprises) and there are no penalties for early repayments.

It is not a bank, rather their loans are financed each year by a community of investors who receive both a financial and social return.

LeverageEdu: This platform is helping students all over India to identify and choose best matched careers and higher education options, with personalised motors who guide students at every step of the process.

Its AI system helps students identify the best mentors and personalised workshops to get them ready for the journey they are about to embark. Their modern approach and AI system is driven by data analytical techniques providing unique and personalised experiences to the student. Subsequently along with other services the platform also provides students with value-added services like education loans to help them avail dream education.

Leap Finance: Thousands of students fly abroad every year to pursue higher education every year and the biggest problem that they face in foreign lands is the unavailability of financial services like loans and credit cards to them since they don’t have a credit history in that country, even if they are provided with loans and credit cards, they have to pay twice the interest when compared to the local citizens.

This is where leap finance comes into action, they are headquartered in San Francisco and they grant loans to students by evaluating their data in India itself at very nominal interests.

Join Whatsapp Channel of The Tribune for latest updates.