Education Loans


Anyone going abroad often wonders Wondering how he is going to finance his study . We at BRAINSTORM CONSULTING will help you find a finance option,from many,that works best suits you.

First of all ,why does one seek FINANCIAL ASSISTANCE when deciding to study abroad?

Financing your Education

We all know that studying abroad is very expensive . The cost involves both the university’s fees and living expenses. This could be a considerably huge burden.

Who are the ones in need of Financial Assistance?

Everyone, including students who can afford the various expenses, need financial assistance. Firstly, when international students applys for a student visa, he is required to show evidence of having adequate funds that would cover at least the first year of their college education. With university scholarships, and bank loans from your own country as available options; you need to focus on careful financial planning. If you are keen on university funding; that is possible only in the US. However,countries like the UK, Canada, Australia, and New Zealand do not normally offer students scholarships; however with loans options from your own country, you can study anywhere in the world. Nowadays, with more international students applying to countries other than the US, the criteria is not so severe for availing financial assistance.

Kinds of Financial Assistance

The different types of Financial Aid that is available to study abroad depends mainly on the country that you are applying to. Incidentally most US universities offer assistantships, fellowships, and scholarships; depending on the course and the field of study that you are applying to. However,for countries other than the US, outside funding will mostly be required.

Financial Assistance can be divided into three main categories:

Fellowships / Scholarships


Eligible for Assistantships depends on the merit of the students

Courses Applicable:
Undergraduate (UG) level: It is relatively difficult to be awarded assistantships at the this level of study.

Graduate level:In the case of Master's degree ,i.e,MS courses, an assistantship is the best way of funding one’s education. Most universities do not normally offer financial assistance for an MBA program , as Management students will eventually earn more and would be able to pay off their loans. However, there are a few business schools that may offer MBA scholarships based on merit. At the PhD level,all students are paid a stipend which should cover most of their living expenses. There is no fees for a PhD program.

Types of Assistantships:

Graduate Assistantships: These are specifically for graduate students who get to work with the admissions office or other department offices in administrative jobs.

Teaching Assistantships (TA): Students at the Master’s level get to help professors teach undergraduate students. The job would involve taking tutorial classes, assisting while conducting laboratory experiments, grading examination answer scripts, and helping the professor clear doubts that could arise in the minds of students. To secure such TA positions, one needs to possess considerably good communication skills.

Research Assistantships (RA): Research Assistants assist professors in laboratory work and research projects. Students who get selected for RA usually need to show an aptitude for research and commendable analytical skills through projects and publications.

Tuition Waivers: The student who obtains a waiver need not pay tuition fees at the University. However, general fees (for use of University facilities like the library, computers, and health services) will have to be paid.

There are also some project assistantships, sports or club assistantships that are University specific.

Student Loans

Several banks offer loans to students to study abroad. Generally , if a student bags admission into a top university, the loan may be sanctioned without a co-signer from the country where the University is established. However in other situations, financial institutions and banks require a home country based co-signer where you intend to go.

Student loans are offered under certain per-defined terms and conditions. Indian banks offer student loans on a confirmed admission to a foreign university for full-time courses (this means that loans are not offered for correspondence courses.). Banks consider a potential student’s past academic records and offer loans only if they find it satisfactory. However,each bank follows its own set of rules.