Education Loan Calculator India : The finance formula, How to manage finances while studying abroad

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Education Loan Calculator India
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• The finance formula How to manage finances while
  studying abroad

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• Studying abroad is an exciting, yet expensive
  affair . Most countries, other than the United
  States, allow international students to work off
  campus while studying. In the US, international
  students are permitted to work on campus for a
  maximum of 20 hours per week. While other
  countries, too, have a similar limitation on the
  number of hours, international students are
  permitted to find jobs off campus as well. For
  instance, in Canada, you can apply for a permit
  that allows you to work off campus for 20 hours
  per week during the academic session and 40 hours
  per week during vacations. The rules are not very
  different for students who wish to study in the
  UK and Australia.
• By working on or off campus, you can expect to
  earn sufficient funds for your personal expenses
  and sometimes even living expenses. But very
  rarely will you be able to fund your entire
  education from this income. The work students
  typically do on campus includes working in the
  library, laboratory, dining halls, admissions
  offices, etc. Off-campus employment usually
  involves working in restaurants and at petrol
  pumps. The average minimum wage in the US is
  8.25 per hour. Thus, working for 20 hours at the
  minimum wage can fetch you about 660 a month.

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GRADUATE ASSISTANT SHIPS

• Students unable to work on or off campus can
  always apply for funding from the university
  itself. Most universities in the US and some in
  Canada and Australia offer students graduate
  assistant ships (GAs). A GA is an award which
  pays for your entire tuition fee as well as a
  monthly stipend which helps you take care of your
  living expenses. Students who get such assistant
  ships can work as teaching assistants (TAs) or
  research assistants (RAs). Typically, the job
  profile of a GA is to assist professors in
  grading papers, teach small classes and help with
  research. Assistant ships are extremely
  competitive and are granted to students with
  excellent grades and, at times, to those with
  work experience. Students can earn a stipend of
  up to US1,200 per month.

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NEED-BASED FUNDING

• If you do not land up with a GA or an on- or
  off-campus job, you can still apply to the
  university for merit- or need based funding. Many
  universities offer scholarships to students with
  excellent grades. Such scholarships are evidently
  not only competitive but also based on need.
  Thus, if you can demonstrate that you actually
  require the funds, you may have a better chance
  at receiving them directly from the university.
  Such scholarships generally cover 10-75 of the
  tuition fee.

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EDUCATION LOANS

• Finally, if you have no other choice, you can
  apply for education loans in India. Several state
  banks offer education loans of up to Rs
  30,00,000. The interest rate for these loans is
  around 11.75 and the repayment period starts one
  year after the completion of the course or six
  months after getting a job, whichever happens
  earlier. The loan must be paid within 12 years.
  The security required to obtain it is usually
  around 115 of the loan amount.
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• Banks in the US give loans to international
  students without security only if a citizen or
  green card holder with good credit history acts
  as their guarantor. The benefits of this loan
  include lower interest rates of around 7-9 and
  repayment period of close to 25 years.
• A good way to fund your education is a
  combination of the several options listed here.
• If you wish to pursue your Education Loan
  Calculator India, make sure that you plan your
  finances before applying for admissions or at
  least before you leave the country.
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• Source http//www.avanse.com/blog/the-finance-fo
  rmula-how-to-manage-finances-while-studying-abroad
  /

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