From experiencing different cultures to learning new language skills, studying abroad can open doors to endless possibilities. However, overseas education usually comes with a heavy price.
Fortunately, today, students can fulfil this dream via easy education loan for abroad studies! And if they have a good GRE score, the process of availing the loan can become a lot easier. How? Read on to find out.
First things first: what is the GRE score all about?
Developed by the Educational Testing Service (ETS), the GRE test is a standardised admission test that measures applicants’ skills and qualifications for graduate-level academics.
The main areas assessed via a GRE test typically include basic arithmetic, geometry, algebra, data analysis, and college-level vocabulary. As such, the exam aims to evaluate the applicant’s critical thinking skills. And assess if they are ready to handle the pressure of graduate-level academics.
To this end, GRE scores are assigned for three main sections – Analytical Writing, Verbal Reasoning, and Quantitative Reasoning. Further, the Quantitative Reasoning and Verbal Reasoning sections are each scored on a scale from 130 to 170. But the Analytical Writing section is scored on a scale from 0 to 6.
Abroad studies: Does the GRE score really matter?
Is it mandatory to take GRE for abroad studies? Well, it depends entirely upon the country you’re choosing for your higher education. At present, over 160 countries across the world accept the GRE score. In some countries like the United States of America and Canada, GRE scores are also considered for admitting international students into business schools.
Nonetheless, to be on the safe side, it is always better to check with your university whether they require a GRE test for enrolment or not.
Additional Read: Top Factors Affecting Education Loan Eligibility Criteria
How the GRE score impacts your chances of availing education finance
You can readily convince the lender to sanction you a personal loan for education with a good GRE score. Because besides the age criteria, most lenders check your academic record, including your class X and XII marksheets, consistency in performance, and more to advance the loan. This also includes your performance in the admission tests.
And since many overseas institutions use GRE scores as indicators of a student’s potential, a good score can improve your chances of getting an education loan for overseas studies favourably.
Additional Read: Steps to Taking a Study Loan
To sum up
While an essential criterion for availing of overseas education finance, your GRE score is not the all-in-all criteria. You/your co-applicant must also have an excellent credit history or a high CIBIL score. Lenders will also consider your/co-applicant’s income stability to review your application for overseas education finance.
Need a loan for abroad studies? Contact India’s leading lending institution– Tata Capital!
We offer loans for both domestic and international education via a hassle-free online application and documentation process. You can also check your repayment capacity using our online personal loan EMI calculator.
Our interest rates start at just 10.99%! Avail of our customised finance solutions and take the first steps towards a better career and future today.