Financing your Education

We all know that studying abroad is a very expensive process. The cost involves not only the university’s fees but also living expenses.

Who needs Financial Assistance and why

Everyone, even students who can afford the expenses, need financial assistance. When an international student is applying for a student visa, he/she is required to show evidence of possessing adequate funds to cover at least the first year of their college education.

Types of Financial Assistance

Types of Financial Aid available to study abroad depend mainly on the country you are applying to. Most US universities offer assistantships, fellowships, and scholarships; depending on the course you are applying to. But for countries other than the US, funding from outside sources will mostly be required.

There are three broad categories that Financial Assistance can be divided into:

  • Assistantships
  • Scholarships
  • Loans


Fern has panel bankers who can assist student so obtain their bank facilities. We will have the bankers to visit our office and to speak to students who are seeking their service. This service is at no cost to the student.

Documents Required By Banks for Availing Education Loan

You need to keep the following documents in place before applying for an educational loan:
Mark sheets of the last qualifying examination for school & graduate studies in India.

  • Proof of admission to the course
  • Schedule of expenses for the course
  • Copies of letter confirming scholarship
  • Copies of foreign exchange permit, if applicable
  • Two passport size photographs
  • Statement of bank account for the last six months of borrower
  • Income tax assessment order not more than two years old
  • Brief statement of assets and liabilities of borrower

If you are not an existing bank customer you would need to establish your identity and give proof of residence.
Finally, you need to hit the right bank with the right educational loan scheme to suit your needs. Parameters to weigh the alternatives are many; as in, whether the bank provides loan for the course you are opting for and if yes, then up to what extent, the margin and security requirements, the rate of interest, a proximity of bank to your residence.

Disclaimer: The details mentioned ABOVE are only indicative. We does not take the responsibility for change in any terms & conditions, the rate of interest or coverage at the bank / financial institution level. The particulars of the loan facilities shall be as per the sanction letters and loan agreements entered in to between the bank / financial institution and the student. As a policy, we have made it mandatory for all students availing an educational loan, to ensure the loan. Your banker will be able to provide more information on this.

WordPress Lightbox