Avanse Education Loan

Avanse prioritizes variety. They finance various types of courses, which is helpful for the student to expand their horizons and have options to choose from.

This is a list of courses that the Avanse education loan covers:

For India:

• Undergraduate courses approved by UGC, AICTE, GOI, and IMC. 
• Postgraduate degrees and postgraduate diplomas approved by UGC, AICTE, GOI, and IMC.
• Technical and professional courses like engineering, medicine, management, law, and aviation.
• Courses offered by recognized foreign universities in India.
• Executive programs, vocational training, and other courses approved by Avanse Financial Services Ltd.
• An exclusive loan is available, especially for MBA and its specializations.    

For Foreign Countries:

• STEM Courses- Sciences, Technology, Engineering, Management.
• Post-graduate courses.
• Job-oriented professional or technical courses.

(The courses and the institute offering them must be approved by Avanse.)

If you are thinking why Undergraduate degrees and diplomas are not mentioned for foreign countries, that is because Avanse does not provide loans for those courses. 

This is where WeMakeScholars comes to help. We can take deviation for such cases if the co-applicant is making more than 12 LPA and the student has a good academic profile.

After knowing the types of loans offered and the variety of courses available, do you feel like applying for an Avanse education loan? Sure, we can do that. But first, you should check your eligibility. 

Let’s see the loan details for a few countries that are given by Avanse.

Loan Details:

American education loan by Avanse has four loan products, unlike the standard three products. Avanse gives more priority to the USA loans because of higher chances of employability and it being a top country preferred by students.

Avanse USA education study loan details are broken down as follows:

The processing fee for all USA products is 1%

IVY League Product

The Ivy League is a group of eight private institutions for higher education in the United States known for their academic excellence, selective admissions processes, and historic significance. 

Read more here- Ivy League Schools.

Platinum Plus Product

Platinum List Product

Note: Financial co-applicant is waived off for Ivy-League, Platinum Plus, and Platinum List products of the USA.

Titanium and Gold - Vanilla Product 

The loan schemes for studying in the UK and Canada are the same. Take a look at the details:

The processing fee for all UK-Canada products is 1.5%

Platinum Product 

Titanium product

Financial co-applicant is waived off for Platinum and Titanium products for the UK and Canada if you choose to process your loan with WeMakeScholars.

Gold-Vanilla product

Australian universities do not accept education loans given by NBFCs. Avanse is an NBFC so the loan is not approved by institutions in Australia. That is because Australian universities think NBFCS are not actual banks and because it is an unsecured loan, the loan might not have security. 

Does that mean you cannot proceed with Avanse to finance your course in your dream university? Don't worry, WeMakeScholars is here for you. We will talk to Avanse and get the best deal for you so you can go to Australia and fulfill your dreams.

Australia has two loan products only-Platinum and Titanium. Let us see their details:

The processing fee for an Australian education loan is 1.5%.

Platinum Product 

Applicable for top 10 universities in Australia.

Titanium Product

The Avanse education loan gives students a flexible way through which they can finance their education at various higher learning institutions. The following tables summarizes some of the Avanse loans’ features such as the allowed co-applicants, moratorium period, repayment term and policy, and other additional features such as the step-up repayment. Knowledge of these details will assist in arriving at a competent decision of borrowing an education loan from Avanse. However, it will be necessary to recall the details of the particular expenditures that are considered in the context of the Avanse study loan.

Moratorium Period

• Course duration + 1 year

Avanse loan repayment:

Repayment tenure: 

• Minimum time to repay- 1 year
• Maximum time to repay- 15 years

There is a grace period of 6 months from the time you complete the course or a grace period of 3 months from the time you secure your first job.

Repayment policy:

• Paying interest partially or fully in the moratorium period.
• EMI payment after the moratorium time is completed with full interest.
• Step up repayment facility

Use our EMI calculator to calculate your EMI.

We now have enough knowledge of Avanse education loan products, their details, and repayment information. You might be willing to choose Avanse as your loan lender. But before that, we need to know what expenses are covered under the Avanse study loan. 

Online application procedure via WeMakeScholars

Step 1: Request a call from WeMakeScholars financial officers.

Step 2: To determine if you qualify, talk to the financial officer from our team who will get in touch with you. Give all the information that is asked of you.

Step 3: Our financial officer will provide you with a detailed comparison of all the lenders so you can make a choice.

Step 4: You will also be given a document uploading link. Send the required paperwork to the bank or put it on the secure document gateway on WeMakeScholars.

Step 5: Your file will be logged in as soon as you submit your papers. In other words, you will find out the outcome of your loan application form in 2–6 days.

Step 6: Obtain a sanction letter following the acceptance of the loan agreement.

Directly applying from the Avanse website:

Step 1: Fill out the loan for abroad study application

Step 2: Speak to educational loan to study abroad consultants

Step 3: Send the requisite documents

Step 4: Receive the student loans for studying abroad amount

Issues while applying to the lender directly

• When you go straight via the lender, it takes a longer time.
• Because the lenders don't explain the application process in detail, students frequently feel misinformed about the entire procedure.
• Students frequently lack the skills necessary to advocate for themselves and negotiate a reduced interest rate, which results in their paying far more than necessary.
• The lender does not give a clear list of the papers required to process the loan.
• Lenders do not provide post-loan disbursement process assistance when contacted directly.