Welcome back to the viewing of 20th episode of Loanflix Inshorts. This episode will give you information about the various tasks which students are required to fulfill regarding their student loan for abroad studies, before leaving for their higher studies course.
Loanflix InShorts is a series of really small duration, three-minute episodes which cover some of the niche topics of the abroad education loan process. The major aim behind introducing this new series is to provide knowledge of the education loan process at a deeper level, thus enabling you to have a hassle-free experience.
Borrowing a student loan for abroad is one of the most crucial phases of the higher education process. Getting accepted into a university of your choice and getting to travel abroad are some of the most crucial and primary steps in the process of realising your dreams. The borrower’s presence is required for a number of other formalities while availing a student loan for abroad, even after they have travelled abroad. So what are some of the tasks which all candidates need to complete in order to ensure a continuous flow of their student loan for abroad studies? This episode aims to list three crucial events which all the applicants of a student loan for abroad studies must undertake before they proceed to their place of studies.
Student Loan For Abroad: Power of Attorney
Handing over the power of attorney to your co-applicant or the nearest family member is one of the most important steps which ensures that your process of getting a student loan for abroad studies goes smoothly even after you have left the country for your course. Get to know on how to go about the process of handing over the power of attorney in the process of getting an education loan for abroad studies in this part of the episode.
Student Loan For Abroad: Opening A Bank Account
It is important to open a bank account with your lending bank for the purpose of transferring your student loan for abroad studies if your course commences before the higher studies education loan is sanctioned. Know about completing this important task in the abroad education loan system.
Higher Education Loan: Mortgage Creation
Mortgage creation is an essential part of any higher studies education loan process that involves collateral security. The agreement for a student loan for abroad studies cannot be made unless and until the mortgage creation phase is not completed.
The points mentioned above are some of the most crucial steps involved in the process of acquiring a student loan for abroad studies. When students who are unaware of the entire process approach lenders individually, it is highly likely that their assigned loan officer may fail to inform applicants about the importance of the above-mentioned steps in the student loan for abroad studies process. So make it a point to watch this episode till the very end.
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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.