REAL CHALLENGES STUDENTS FACE WHEN PLANNING TO STUDY ABROAD --Difficulty Arranging Funds / Education Loan Issues

 

REAL CHALLENGES STUDENTS FACE WHEN PLANNING TO STUDY ABROAD

4. Difficulty Arranging Funds / Education Loan Issues

Even after choosing the right course and country, the next major roadblock students face is arranging funds. Studying abroad is expensive, and most families depend on education loans, but the process is not as simple as it appears.

🔶 Why Arranging Funds Becomes a Serious Challenge

1. High Cost of Education

Students need to arrange money for:

  • Tuition fees

  • Living expenses

  • Travel & insurance

  • Visa & biometrics

  • Emergency funds

The total amount often reaches ₹15–₹45 lakhs for most countries, causing financial pressure on families.

2. Loan Approval Takes Time

Banks and NBFCs follow strict procedures:

  • Long documentation process

  • Multiple verification steps

  • Delayed sanction letters
    This delay can cause students to miss university or visa deadlines.

3. Collateral Requirements

Many public banks demand collateral such as:

  • Property papers

  • Fixed deposits

  • LIC bonds
    Families without collateral struggle, even if the student is academically strong.

4. Loan Rejections Are Common

Applications are rejected due to:

  • Low CIBIL score of parents

  • Insufficient income

  • High existing loans

  • Incomplete documents

  • Valuation issues with collateral

This forces students to look for high-interest NBFC loans.

5. Difficulty Showing Funds for Visa

Most countries require:

  • Proof of 1-year tuition

  • Proof of living costs

  • Bank statements

  • GIC/Funds held for 28–180 days

Students find it difficult to maintain this amount for long periods, especially with fluctuating exchange rates.

6. High Interest Rates & EMI Pressure

Private lenders charge higher interest, which leads to:

  • Big EMI burden after graduation

  • Financial stress for parents

  • Fear of not being able to repay if job search is slow

7. Lack of Awareness About Loan Options

Students often don’t know the difference between:

  • Public banks

  • Private banks

  • NBFCs

  • Secured vs unsecured loans

  • Study abroad scholarships

  • Forex savings options

This confusion leads to wrong decisions.

8. Emotional Stress on Families

Parents frequently:

  • Mortgage property

  • Break savings

  • Take personal loans

This creates silent emotional pressure on both parents and the student.

If you want, I can move to:



Comments

Post a Comment

Popular posts from this blog

TOEFL Exam 2025: Recent Changes, New Pattern, and Registration Procedure

 The Test of English as a Foreign Language (TOEFL) has undergone significant updates to enhance the test-taking experience. Here's an overview of the recent changes, the new exam pattern, and the registration procedure for the TOEFL exam as of December 2024. Recent Changes and New Pattern Effective July 26, 2023, the Educational Testing Service (ETS) implemented several modifications to the TOEFL iBT test: Shortened Test Duration : The overall test time has been reduced to under 2 hours, making it the shortest among major English language proficiency tests. Reading Section : Now comprises 2 passages, each with 10 questions, to be completed in 35 minutes. Previously, this section included 3–4 passages and took 54–72 minutes. Writing Section : The Independent Writing task has been replaced by the "Writing for an Academic Discussion" task, where test-takers provide their opinions on a given topic within a hypothetical academic discussion forum. Removal of Unscored Questions ...
Read more

Which foreign languages are most valuable for jobs in MNCs?

  Top Foreign Languages for Jobs in MNCs 🌍💼 Learning a foreign language can significantly boost career opportunities in multinational companies (MNCs). Here are the most valuable languages for jobs in global markets: 1️⃣ German 🇩🇪 (High Demand in IT, Engineering, and Business) ✅ Why? Germany is the largest economy in Europe , and German companies like Siemens, BMW, Volkswagen, Bosch, and SAP hire internationally. ✅ Industries: IT, Engineering, Automotive, Finance, Business, Research ✅ Job Roles: Software Developer, Engineer, Analyst, Financial Consultant 📌 Best for : Indian professionals looking to work in Germany, Austria, or Swiss companies. 2️⃣ French 🇫🇷 (Useful for MNCs, Diplomacy, and Aviation) ✅ Why? French is spoken in over 29 countries , including France, Canada, Switzerland, and Africa . ✅ Industries: Aviation, Hospitality, Luxury Brands, Banking, International Relations ✅ Job Roles: BPO Executive, Translator, Hotel Manager, Diplomat, Content Creator 📌 Bes...
Read more

all across globe lawyers are been using ai for their drafting purpose - will it impact lawyers drafting skills

 Yes, AI is being widely used by lawyers for legal drafting , and it is definitely impacting their drafting skills—but it’s not necessarily a bad thing. Instead of replacing legal expertise, AI is enhancing efficiency, accuracy, and speed . However, over-reliance on AI could weaken a lawyer’s ability to draft complex legal documents from scratch. How AI is Changing Legal Drafting: ✅ Speeds Up Drafting – AI quickly generates contracts, legal memos, and case summaries, reducing manual work. ✅ Improves Accuracy – AI tools help with legal citation checks, consistency, and formatting. ✅ Enhances Research – AI-powered platforms like Harvey AI, LexisNexis, and Casetext provide instant legal references and case laws. ✅ Reduces Costs – AI lowers legal research expenses, making services more affordable for clients. How AI Might Weaken Drafting Skills: ❌ Over-Reliance on AI – Lawyers who depend too much on AI may lose the ability to draft documents independently. ❌ Loss of Creativity ...
Read more