Now that the cost of foreign education has been on a constant rise, it is better to arrange your finances through an education loan and not to put a pressure on your parents or guardians. But most students have very little knowledge about taking loans. Generally you have two main options while taking education loans. One is your private sector bank and the other is your public sector bank. There are pros and cons to both the options. Public sector banks will offer you low interest rates but you will have to do a lot of work to get your loan approved. On the other hand, private sector banks charge slightly higher interest rates but the services are seamless and your loan approval process is quite brief. First of all you need to get approved by a university abroad. Now, after getting approved, you will have to first check if the university is featured among the list of approved educational institutions from the bank that you want to take loan. It's generally more complicated to get loans for art and literature courses. A student pursuing a degree in STEM is more likely to get an education loan.
