With the world getting increasiingly interconnected to each of its different parts, it has become more transparent than ever for students to find the right academic destinations. Be it in their own country or abroad. Alas, the aspiration of studying in a foreign country comes with great expenses. Be it for academic tuition fees or living expenses, the list starts and just doesn’t stop. With inflation and currency value imbalances, the complications of expense management are increasing further. In this venture, financial assistance providers like Credila come up to ease your financial burden and make international education a possibility.
To help you understand more about how Credila can save you a ton of stress and loan rejections, let’s discuss more in-depth about it.
Growing Demand for Education Loans
It is no mystery that the demand for education loans in India is rising at a consistent rate. From the report by the Reserve Bank of India, it is transparent that the loan amounts branching from foreign education are huge. Holding a notable amount among the INR 1.2 lakh crores, as per 2023, worth of loan worth stated under education loans in the country, it is transparent that students are opting for international studies more than ever. With the massive conversion rate differences for most foreign currencies, such as the dollar, euro, and pound, education loans become a necessity.
As a subsidiary of HDFC Limited, Credila has come to be a leader among those offering education loans to needy students with the ease of reimbursement. With the assistance offered by Credila, everything from tuition fees and accomodation to travel and health insurance costs get covered. Thereby providing the student with the best singular means of financial assistance.
Why Choose Credila for Your Education Loan?
The market is filled with a number of loan providers competing to sell their loan products. Unlike them, Credila presents itself as a solution for students aspiring for international students and not as a competitive loan product seller. The key selling points of the Credila are:
- Unique and Need-Specific Solutions: Every student’s needs are different. Some want a partial loan covering just their GIC or blocked amount, while some need the entire amount to cover their academic expenses as well. To deliver the right loan solution for them all, the executives at Credila understand their requirements and draft a unique loan product that will best suit them.
- Flexible Repayment Options: The financial burden on students is on varying levels. While some get the capbiblity to start paying huge amounts in EMIs, some students need the assurance of having to pay little amounts for longer terms. This offers great mental peace to the students, helping them focus better on their studies.
- Pre-Admission Loan Approval: A key element that makes Credila stand apart from its competitors is its pre-admission loan approval process which offers the student the assurance of aiming for their desired college applications without fearing for their loan acceptance issue later on.
- Competitive Interest Rates: Credila offers competitive interest rates, ensuring that students can access quality education without being burdened by exorbitant repayment costs. Rates are often customized based on factors like the student’s academic background, the chosen institution, and the course of study.
- Tax Benefits: Under Section 80E of the Income Tax Act, borrowers of Credila education loans can avail of tax benefits on the interest paid, adding another layer of financial relief.
Simplifying the Loan Application Process
To make students’ lives easier, Credila offers a streamlined loan application process to deliver minimal application efforts from students.
- Online Application: To offer the ease of applying from their home’s comfort, Credila offers an online application procedure through which students can effortlessly apply their application.
- Personalized Counseling: To ease the hesitation inside the student and their guardian’s minds, Credia delivers personalized counseling to deliver a comprehensive understanding throughout the entire process.
- Fast Approvals: With minimal documentation and efficient processing, Credila ensures quick loan approvals so that students can focus on their education.
- Transparent Policies: Credila’s policies are clear and transparent, with no hidden charges or surprises, making it a trustworthy choice for students and families.
Final Note
In a world where education is the cornerstone of progress, Credila’s commitment to supporting students stands as a beacon of hope. By offering specialized loans for studying abroad, Credila enables thousands of students to turn their aspirations into reality. Whether you’re aiming for a top university in the U.S., U.K., or anywhere else in the world, Credila education loans provide the financial backing you need to succeed. Your future is worth the investment, and with Credila, that future is within reach.