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3 steps to ensure your international education loan is sanctioned

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With increasing numbers of Indian students seeking to study abroad , many will avail a loan to cover the cost of foreign tuition and living expenses. But the costs for earning an education overseas are rising, so students will want to do as much as possible to increase their odds of their loan applications being approved. Here are three steps that Indian students can take to improve their chances of availing an education loan for studying abroad.

Check Your School’s Eligibility

Several lenders have esoteric requirements about which schools and degree programs they support. For example, one lender may only provide loans to students attending schools in specific U.S. states, while another may not limit by location, but instead offer loans to students attending select schools or degree programs. And each lender has its own list of acceptable countries; for example, far fewer lenders support students at Canadian colleges than American schools.

To maximize their chances of receiving education loan approval, students’ first step should be to research lenders. It’s best to conduct this research before deciding which schools to apply to, so students will know which combinations of schools and lenders are viable and won’t waste time applying to […]

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