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Tata Capital > Blog > Loan for Education > 5 Important Things To Do Before You Opt For Education Abroad

Loan for Education

5 Important Things To Do Before You Opt For Education Abroad

5 Important Things To Do Before You Opt For Education Abroad

Pursuing an education program from a foreign university is a dream for many. There are numerous benefits of studying overseas, such as new career options and better job opportunities. Besides, studying at a foreign university helps you acquire a set of skills, such as high confidence, a high degree of independence, and a great passion for learning. Due to such advantages, numerous students wish to explore the option of studying overseas.

Taking such a decision is no simple task. There are numerous aspects that need to be taken into consideration, such as finances, the cost of education, and living expenses, besides many others. Following are five important things to keep in mind while deciding whether or not to pursue your further education overseas.

1. The need to go abroad

The fundamental and the most important question you need to ask yourself is – do you really see the need to go overseas. It is imperative to analyze the numerous advantages and disadvantages of going abroad and make a decision only once you are totally convinced.

Additional Read: Reasons Education loan is preferable than Personal loan

2. The reputation of the university

You may apply at either your dream university or at other well-known universities. It is ideal to choose a prestigious university, which offers the best-in-class resources such as libraries, IT services, and research centers, among others. Also, opt for an institute that boasts of a highly experienced faculty.

3. Education expenses

The most important expense to keep in mind is the cost of education. Based on the selected university and the course, you may have to pay a large amount of tuition fee. You will also have to bear other education expenses, such as books. Some universities offer scholarships to deserving students, and you should apply for a scholarship if you are eligible for one. You may also consider availing of an education loan to fund your study program.

4. Cost of living

For numerous international students, the cost of living is a major concern. The cost of living in popular destinations for education such as USA, Canada, New Zealand, Australia or Europe is higher than that of India. You will have to pay expenses towards accommodation as well as travel.

Additional Read: Can You Get Education Loan for Online Education?

5. Your finances

Deciding to pursue your education overseas is a huge financial decision. It is necessary to have the funds to cover the cost of living and that of education. While some decide to utilize their lifetime savings to study abroad, a wiser choice would be to borrow an educationa loan. There are numerous banks and Non-Banking Financial Companies (NBFCs) that offer such loans at attractive interest rates.You may avail of a personal loan for education and make systematic repayments upon completion of your course.

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