Studying abroad is a dream for many students as well as parents. But arranging the capital money for the same is not a cakewalk for everyone. On average, you need at least 20 to 25 lakhs INR in order to study abroad in a good college or university abroad. Not everyone has this kind of amount available to them and even if they have they can't afford to spend it on education. In situations like these banks and money lending institutions provide help. You should be very careful while assessing loans offered by different banks as each of them have an interest-rate structure of its own. Try to search and analyze each and every loan available in the market for education purposes and try to find what works best in your situation. The best way is to start investing early in the education of your children. You can buy policies where you have to pay annual installments and on their maturity, you will get a good amount of money that can sustain your child's study abroad plans. This step is helpful for all the parents whose children are right now in younger classes and they want to send them abroad. Also while taking help from any financial institution, clarify all things they will cover under the loan. Many times a lot of financial institutions cover only the tuition fee of the student excluding other essential costs like travel, insurance, accommodation and books et cetera.
