Is it worthwhile to take a student loan to study abroad?
Viability of student loans for studying abroad
Education loans provide students financial support to enable their study abroad. It is no more necessary to belong to a wealthy family to be able to study abroad; there are comprehensive education loan schemes and several financial institutions that offer support to the students. Students can get a loan of up to 15 lakhs for their study abroad and avail an upper limit of 20 lakhs in few banks too. Banks check the viability of the student before availing the bank loan. This is depended on the personal discussions with the student, the assets of the family and annual income. The nature of the course and reputation of the institute is also assessed before giving the loan. There is no margin or collateral for loans up to Rs. 4 lakhs in most banks. The interest rate does not exceed the prime lending rates in most banks. The loans that are more than Rs. 4 lakhs the interest rate is PLR plus 1 percent. Banks use PLR o state the interest rate of the bank which may vary with each bank. It is necessary to surrender security to the bank while taking the loan. The loan that is up to Rs. 4 lakhs does not need any security but a third party guarantor. There is requirement for security for loan above 4 lakhs. Students do not need to worry about the repayment of the loan while studying as it starts after finishing the course or when the graduate starts working.
Eligibility criteria for the bank loan
Admission to foreign university/institution
Mark sheets of qualifying exam for school and graduate studies
Admission Proof to the course
Show the expenses to the course
Letter confirming the scholarship if any
Passport size photos
Bank statement of last six months of the borrower
Income tax assessment order which cannot be more than 2 years
Assets and liabilities statements of the borrower
All said and done taking a loan is a serious commitment. It calls for a single minded pursuit of your goal to get a good education in order that you might make something of yourself, not to mention paying back the loan. One should also consider the long term goals and prospects. Questions like: Will the programme give me something that is equal in value to the money that is being spent on it? Are there better options or cheaper ones? At the end of the day it is upto the individual, which is the idea behind the availability of student loans. Education after all is a necessity and the only real path to success
Are you facing discrimination? Here are some of the most prevalent prejudices that afflict society.
Discrimination and how to deal with it.
Discrimination is a very profound problem that lot of students face in Universities, colleges and schools. It can be seriously damaging for the career and negatively affect the self confidence of individuals. It is important to confront the individual and say a no to any kind of discrimination. It is essential to be calm, rational and logical to put a stop to discrimination. Make sure to keep a record of the events or a diary to illustrate the discriminatory actions. This will be useful in the future if you are filing an official complaint. It is absolutely essential to seek help of the school, college or university authorities and report the unlawful behavior immediately. Speak to your parents, teachers and friends.
There can be discrimination faced by students on the basis of religious/Caste grounds. This can be very frustrating for students. This discrimination can be caused by students, teachers or the staff. It is essential to keep a note of the events of discrimination and harassment and report it immediately.
Gender discrimination very often can lead to serious confidence and self esteem issues. Unfortunately there have been several cases reported in India; especially in the rural area towards gender discrimination. This can include unfair treatment in the classroom, unfair grading in examination, failing students purposely based on the gender, etc. Report the school authorities immediately regarding gender discrimination. Make sure to speak it out with the person who is discriminating. Report it to your parents, friends and mentors at school.
The discrimination based on disability section has been addressed in the law. It is not acceptable to discriminate against disability of any kind and this is punishable by law if found guilty. Learning disability is also inclusive; such students are very much part of a normal schooling system. They cannot be unfairly treated or discriminated.
Discrimination based on Language
Very often students from remote places and rural areas work hard and seek admission in prestigious institutions. They can have difficulties to cope with the language and find it hard to communicate in English. Discrimination of any kind is not acceptable based on the language. There are language tutors, counselors and mentors in the universities and colleges for students. They can make use of training programmes and counseling to discuss any sort of discrimination.
Discrimination however is not limited to the above mentioned shades, it manifests time and again in different forms of prejudice and ignorance. And what do you do against them? Well for one thing do not be dismayed by someone’s indifference towards your plight. Equality is your right and rights are not granted but are inherently one’s own so stand up for yourself.
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