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Need an overseas study loan? It is easier to get one from a global lender

The hitch is that they are in foreign currency and carry an exchange risk in case you want to work in India

Topics
Education loans | study abroad | US universities

Bindisha Sarang  |  Mumbai 



Should you take an education loan or use retirement kitty to pay the fees?
Many lenders also insist on a co-borrower, usually a parent. The co-borrower acts as the guarantor who has to settle the dues if the student defaults

Lucknow-based Himanshu Singh is set to begin a Masters in Finance course at the University of California, Irvine, this August. Says the 29-year-old: “I applied to a couple of Indian lenders for funding, but they took a long time to respond. One player said it would not need collateral but later changed its stance.” Singh then applied to a foreign lender called Prodigy Finance and was successful in getting a $50,000 loan.

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First Published: Fri, June 18 2021. 19:11 IST

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