Every story is unique, just like the financial background of a study abroad aspirant. Students willing to study abroad prefer to take education loans to fulfil their financial requirements. While taking an education loan is an accessible option for some, others face challenges due to their complex financial profiles. This arduous task can be resolved with the right expertise and solutions. That is why the ELAN education loan advisors are at your service. Our highly qualified loan advisors assist loan applicants by streamlining the entire procedure and helping them to overcome the challenges they experience in overseas education loans.
Read on to know the real story of one of our students and understand her first-hand experience with ÉLAN Overseas Education Loans.
Utkarsha Rajesh Deshkar, a bachelor’s graduate from Nagpur was planning to pursue her master’s degree in the USA. Among the many options, she got admitted to DePaul University, Chicago for a Master of Science in Data Science. Her intake is Fall 2022 and the course duration is of two years. Utkarsha had a GRE score of 273 and a DET score of 120.
Despite having a good academic profile, Utkarsha has a complex financial background. Being a student and unemployed, Utkarsha had to rely on her co-applicant’s financial profile for loan applications.
Thus, she had to face multiple loan rejections. Let’s discuss more about these challenges ahead.
Utkarsha has a low family income with already existing liabilities. As a result, there is no loan co-applicant and financial support. Her parents don’t have an adequate financial profile and Income Tax Returns. That is why Utkarsha was facing problems in getting an education loan to study in USA.
Considering all the above-mentioned issues, Utkarsha realised the need of approaching an expert for loan processing. This is how she reached out to ÉLAN Overseas Education Loans. Since a few Indian banks like Nationalised Banks, Private Banks, and even NBFCs have already rejected her profile for overseas education loans due to her low income tax returns and no property to show as collateral.
Based on her student profile, ÉLAN Education Loan advisor suggested Utkarsha to apply to an International Lender to fund her higher education. Following the suggestion and assistance from the ÉLAN Education Loan advisor, she initiated her loan application for a collateral free education loan for abroad with MPower Financing. Moreover, her university is among the MPower supported schools. Since this was the most suitable option for her, Utkarsha got the loan approval of $50,000 in just one day.
Utkarsha is just one name among the 20,000+ students assisted to date. Since finances are a big concern when it comes to studying abroad, you can rely on our experts to find the most suitable financial lenders and get the highest loan amount possible for your student loans for studying abroad.
Approach ÉLAN Loans for your overseas education loan assistance and get inspired to create your own student success story!
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