Welcome to the viewing of episode 10 of Loanflix Inshorts. This episode will give you a complete overview of how the disbursement of living expenses for a blocked account.
Loanflix InShorts is a series of really small duration, three-minute episodes which cover some of the basic, common terms involved in the abroad education loan process. The major aim behind introducing Loanflix InShorts is to provide knowledge of the education loan process at a deeper level, thus enabling you to have a hassle-free experience.
All students who have applied for an education loan to study in Germany are well-aware of the significance of a blocked account in the process. Many students face a lot of difficulties while trying to get their individual banks to transfer money to blocked account. This episode addresses these concerns regarding the disbursement of living expenses as voiced by such students. The entire process of disbursement of living expenses is explained in the form of the points given below.
What is a blocked account?
The beginning of the episode elaborates on the importance of a blocked account in the higher education process to study in Germany.
How do banks in India process the disbursement of living expenses to transfer money into a blocked account?
This part of the episode will educate you about how banks disburse living expenses for purchasing the blocked account.
Some of the common problems faced by students when they need a pre-visa disbursement of the blocked account amount for Germany.
This part of the episode will tell you all about the different problems faced by students while trying to get the disbursement of living expenses and how they are denied the right to apply for a pre-visa disbursement by many bank authorities due to ignorance.
The episode comes to a conclusion with the discussion of the above point. The process of getting a study loan for Germany may seem to be overwhelming and tedious, unless and until aspirants don’t educate themselves on the various provisions of the same. Do stay tuned for the next episode which will highlight the difference between borrowing an education loan and personal loans for funding your higher education
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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.