Everything you need to know about STUDY ABROAD loans!
Is the same dream of flying to a foreign land to pursue your higher education hitting you every night? Are you trying to reach your favourite study abroad destination by hook or crook? Just how some Bollywood movies that inspire us to do what our heart says, we follow their path, without realising the practicalities of our dream. When dreaming of studying abroad, the biggest hurdle that comes in the way of most students is their tuition fee. But, that’s just one part of the list of expenses you’ll incur. Are you forgetting your living expenses, transportation, insurance, utilities and other expenses? In situations like these when the financial mountains keep you stressed, the concept of education loans enters the chat. Education loans can be your chauffeur-driven car to your dream university in the country of your choice. Now, that you see a green light to fulfil your study abroad dreams, lets dive deep into the concept of education loans for studying abroad. Loans vs liquidating your savings When it comes to securing a child’s future, parents ensure no stone is left unturned. From taking care of his every need to making sure he gets the best education, parents extend full support. When the child hits the age of receiving higher education, whether in India or abroad, the first thought in the parents’ minds is liquidating their savings, which they saved since so long for their children. How would you feel if we tell you a secret means of studying in your favourite country and not bothering your parents’ savings? How’s that possible? Well, education loans! From tuition fees to living expenses to airfare for study abroad students, and so on, education loans are a self-made badge that cover all these expenses, keeping your parents’ savings intact for future. They make your whole academic journey stress-free, not just for you but for your parents too. Types of Education Loans Indian students can opt for two types of loans based on feasibility, income and credit history. Study Abroad Loans: Eligibility, Documents required and Application ProcessEducation Loan Eligibility in India The following factors are a mandate to be eligible to apply for an education loan in India: Documents Required for an Education Loan The following documents are required for a study overseas loan in India: Application Process: The education loan application can be filled out both offline and online. In both scenarios, the applicant is required to submit the application along with the required paperwork, post which the lender contacts the applicant and proceeds with the loan application. Banks Offering Study Abroad Loans FINANCIAL INSTITUTIONS RATE OF INTEREST (Starting rates) MAX. LOAN AMOUNT State Bank of India 10.15% Upto ₹1.5 crore HDFC Credila 10.50% Upto 100% of education cost Union Bank of India 9.25% Upto ₹1 crore ICICI Bank 10.25% Upto ₹1 crore Tata Capital 11.50% Upto 100% of education cost IDFC Bank 10.50% Upto ₹1 crore Axis Bank 10.50% Upto ₹1 crore Ascent 3.79% Upto 100% of education cost Earnest 3.74% Upto 100% of education cost Auxilo 11.50% Upto 100% of education cost Avanse 11.50% Upto 100% of education cost Sallie Mae 3.69% Upto 100% of education cost Incred 11.75% Upto 100% of education cost MPower 12.99% Upto $100k Prodigy 11.50% Upto 100% of education cost Mistakes to Avoid while applying for a Study Abroad Loan Benefits of Education Loans for Abroad Studies So, there you have it- the ultimate lowdown on study abroad loans! You are now armed and ready to conquer the world, one lecture at a time. Remember, your dream of studying at that fancy university isn’t as far-fetched as it seems. With the right loan and a bit of savvy planning, you’re on your way to becoming the next big thing. And hey, don’t stress! At Lorien Finance, we’ve got your back every step of the way. If you need more deets, or just want to chat about your options, our expert counsellors are always here. Let’s turn those study abroad dreams into reality!
Top Courses to Study in UK in 2024
Has London Thumakda inspired you to visit the UK? Well, if you’re a student willing to fly to the UK to pursue higher education, you’ve landed at the right spot! Completing your degree with a blend of traditions, innovation, rich heritage, and multicultural environment: that’s what studying in the United Kingdom offers! Let’s unveil some of the hottest courses in demand in the UK in 2024! From potion brewing to code wizardry, here’s an enchanting list that promises to ignite your passion for a successful career. So, grab your virtual backpack and dive with us into the world of academic excellence! Why study in the UK? The UK has been considered one of the top destinations for Indian students aiming to study abroad. From well-established prestigious universities, out of which 4 stand tall in the top 10 universities in the world, to affordability in tuition fees and numerous grant opportunities, to supportive student-friendly policies for Indian students, the UK is a complete package! Not to miss the scenic places you can visit! Top Courses to Study in the UK When choosing the best course for yourself, don’t just restrict your parameters to your interest and passion, but research the best offerings as per the country and courses that can generate a higher Return On Investment (ROI). Some of the courses in the UK offering excellent career opportunities are: Medicine Considering the provision of healthcare to its citizens, Medicine is the most demanded course in the UK. The country is renowned for its investment in medical research and attracts thousands of international students to pursue medical degrees at the top medical universities. A healthcare degree with any specialisation in the UK ensures excellent prospects for the future, with doctors being the best-paid professionals in the country. India recognises the Medicine degrees earned in the UK, allowing graduates to practice in India. Eligibility: High A-level grades in science & completion of UKCAT or BMATAverage Tuition Fees: £30,000 – £50,000/year POPULAR PROGRAMS TOP UNIVERSITIES CAREER OPPORTUN Business Analytics One of the best courses to study in the UK, Business Analytics, revolves around analysing data sets, extracting insights, and making informed decisions. The UK has witnessed an increasing demand for business analytics professionals required by start-ups and well-established businesses.Eligibility: Bachelor’s degree in any relevant field and high scores in IELTS, TOEFL, or PTE as required by the universityAverage Tuition Fees: £18,000 – £38,000/year POPULAR PROGRAMS TOP UNIVERSITIES CAREER OPPORTUNITIES Management A comprehensive education in various business areas, including marketing, finance, operations, investments, administration, strategy, and leadership skills, is most sought after in the UK. These programs are designed to equip students with the knowledge and skills needed to excel in dynamic and competitive business environments. As a bonus, many business programs in the UK offer placements with internationally renowned companies.Eligibility: English language tests such as IELTS, TOEFL, or PTE with above-average scores.Average Tuition Fees: £40,000 – £1,00,000/year POPULAR PROGRAMS TOP UNIVERSITIES CAREER OPPORTUNITIES Information Technology and Computer Science With the world going digital, businesses are stepping into the digital world with enhanced online marketing strategies. The need for skilled computer science and information technology professionals is on the rise like never before. Pursuing a degree in this field in the UK will benefit you from top-notch teaching methods, one-on-one mentoring, and hands-on teaching with practical application at par with current industry standards.Eligibility: English language tests such as IELTS, TOEFL, or PTE with above-average scores.Average Tuition Fees: £12,000 – £45,000/year POPULAR PROGRAMS TOP UNIVERSITIES CAREER OPPORTUNITIES Nursing As defined by the NHS, nursing encompasses four primary areas: adult nursing, child nursing, mental health nursing, and learning disability nursing. All four areas are equally important, making nursing one of the most popular subjects in the UK. This diverse field equips students with vital skills, including patient care, effective communication, critical thinking, and essential medical procedures.Eligibility: English language tests such as IELTS, TOEFL, or PTE with above-average scores.Average Tuition Fees: £10,000 – £30,200/year POPULAR PROGRAMS TOP UNIVERSITIES CAREER OPPORTUNITIES Law UK Law programs provide an intensive and critical understanding of fundamental legal principles and practical skills. Law degrees in the UK are popular though a competitive option for overseas students. With a significant demand for legal professionals, the UK offers diverse law specialisations, allowing students to tailor their education to their interests and career goals.Eligibility: English language tests such as IELTS, TOEFL, or PTE with above-average scores. Completion of LNAT.Average Tuition Fees: £10,000 – £45,000/year POPULAR PROGRAMS TOP UNIVERSITIES CAREER OPPORTUNITIES Construction Management and Architecture Master the art of architectural design and gain expertise in construction materials, project planning, and cutting-edge technologies. Your education will extend beyond classrooms through practical workshops and real-world projects, providing you with invaluable hands-on experience. The demand for skilled professionals who can merge architectural innovation with sustainable construction practices has never been higher.Eligibility: English language tests such as IELTS, TOEFL, or PTE with above-average scores. A bachelor’s degree in a relevant field. A portfolio of work to showcase design skills and creative ability.Average Tuition Fees: £15,000 – £40,000/year POPULAR PROGRAMS TOP UNIVERSITIES CAREER OPPORTUNITIES Engineering A realm of boundless possibilities: engineering offers a ticket to a world of innovation, problem solving, and global opportunities. With a whopping 37 different streams, including Civil, Mechanical, and Software Engineering, get spoilt for choice when it comes to specialisations in engineering. In England alone, the engineering-led industry contributes about 40% of its GDP, forming a major chunk of its national economy.Eligibility: English language tests such as IELTS, TOEFL, or PTE with above-average scores.Average Tuition Fees: £15,000 – £32,000/year POPULAR PROGRAMS TOP UNIVERSITIES CAREER OPPORTUNITIES Fashion and Interior Design Studying fashion in England prepares students for success in the highly competitive and continually evolving world of fashion and design. Students are provided with a comprehensive introduction and understanding of the design process while encouraged to grow their style. Known for its influence on the global fashion and interior industry, many courses in the UK offer internships and work placements, along with regular industry visits.Eligibility: English language tests such as IELTS, TOEFL, or PTE with above-average scores.Average Tuition Fees: £10,000 – £30,000/year POPULAR PROGRAMS TOP UNIVERSITIES CAREER OPPORTUNITIES
Which one to choose? IELTS vs TOEFL
I can talk English, I can walk English, I can laugh English because English is a very phunny language! Is this how confident you feel about the language? Well, congratulations then! You’re set to fly to an abroad destination and fulfil your study dreams. The only thing between your proficiency in English and your study abroad dream is a piece of paper: A LANGUAGE PROFICIENCY EXAM! When you plan to study in a foreign country that widely accepts English as its most used language, taking an English proficiency exam is a mandate for your application process. The most popularly accepted language proficiency exams across the globe are the IELTS (International English Language Test System) and the TOEFL (Test Of English Language as a Foreign Language). Both exams assess the candidates’ reading, writing, listening, and speaking skills but in different formats. Wait! Which one should you take? Which exam is easier to take? Which one will best highlight your strengths? Breathe… We have all the answers you’re searching for! IELTS vs TOEFL If you’re looking for a one-liner explanation of how the two exams differ, here we go: if you’re flying to the US for your studies, you should take the TOEFL, otherwise, you should pick the IELTS. Canada and the UK do not acknowledge TOEFL widely as a valid English Language test. Moreover, the Australian immigration department only recognises the lengthier version of TOEFL, the TOEFL iBT. FEATURES IELTS TOEFL Conducting Body British Council and IDP Education Ltd. Educational Testing Services (ETS) Medium Paper based & Computer based Computer based Duration 2.45 hours 1.56 hours Sections Reading, writing, listening and speaking Reading, writing, listening and speaking Score 1 to 9 0 to 20 Average Min. Score 6.3 78 Exam Frequency 48 times in a year 50 times a year Result Timeline Within a week With Popular Destinations Popular in Canada, the UK, Australia Popular in the US Cost INR 16,25 INR 16,900 IELTS vs TOEFL Format The key difference in both exams is their format. Where TOEFL requires the candidate to answer MCQs, IELTS has numerous questions like fill-in-the-blanks, short answer questions, and more. Another difference is the duration of the exams; when taking IELTS, a candidate gets 2.45 hours to complete, whereas TOEFL takes 1.56 hours. IELTS demands applicants to showcase their creative thinking abilities and comprehension skills, while IELTS FORMAT SECTION DURATION ACTIVITIES Reading 60 minutes 3 Writing 60 minutes 2 Listening 30 minutes 4 Total 2 hours 45 minutes TOEFL FORMAT SECTION SCORING DURATION QUESTIONS Reading 0-30 35 minutes 20 Writing 0-30 29 minutes 2 Listening 0-30 36 minutes 28 Speaking 0-30 16 minutes 4 TOTAL 1 hour 56 minutes The Reading Section The reading section for both exams involves material that candidates will encounter in their courses ahead. TOEFL will offer two reading passages to be completed in 35 minutes. IELTS will include three passages, the answers to which would be in various formats like gap filings, short answers, etc. The Writing Section IELTS would require you to complete two writing tasks, which would include explaining a diagram or chart and writing an essay or debate of around 250 words on a given topic. TOEFL requires you to draft a five-paragraph long essay within 350 words, along with framing a response within 250 words from a given piece of text. The Listening Section For the listening test in IELTS, students are made to hear an audio and asked short and long questions about the same. While in TOEFL, the listening section comes in a classroom lecture format where one has to take notes and answer MCQs in 36 minutes. The Speaking Section The speaking test in IELTS includes a face-to-face interview with the examiner for around 15 minutes. It can be taken before or after the other sections, as per your choice. TOEFL’s speaking test includes recording the candidate through a microphone, which would then be assessed by the examiner and will last around 16 minutes. IELTS vs TOEFL Score Comparison While IELTS assesses your grammar, logic, fluency, and coherence, TOEFL assesses your vocabulary range, writing style, and grammar. IELTS is evaluated on a scale of 1-9, with the total score being the average of the individual scores from all four exams. If your total average is 6.25, it will be rounded up to a final score of 6.5. TOEFL is a single test with a maximum score of 120 points. INTERPRETING IELTS SCORES BAND SCORE SKILL LEVEL Band 9 Expert user Band 8 Very Good user Band 7 Good user Band 6 Competent user Band 5 Modest user Band 4 Limited user Band 3 Extremely limited user Band 2 Intermittent use Band 1 Non-user Band 0 Didn’t attempt the test IELTS vs TOEFL: Which one to choose? Choosing IELTS or TOEFL depends on several crucial factors including your goals and your proficiency level in the language. Some other key factors are:
Top Universities in the US 2024
“America is a canvas of endless colors, a symphony of diverse voices, and a story of infinite dreams waiting to be written.” – Maya Angelou Are you ready to buckle up for the most thrilling academic journey of your life as you prepare to study in the land of stars, stripes, and endless excitement-the good ol’ USA? From the glittering streets of Hollywood to the mouth-watering assortment of street food delights on the bustling streets of NYC, to the energetic nights at Time Square, to the sun-soaked vibes at Miami’s beaches, to the epicentre of innovation and exploration – NASA, to world-class Broadway performances, to Disneyland, Silicon Valley and what not, you can experience it all! America is surely a dreamy land! The US is home to some of the best educational institutions in the world, renowned for their exceptional establishment in the academic field. Your college mascot might be a squirrel, but your ambitions would be as big as the Texas sky! Prepare to swap your club sandwiches with hot dogs from food trucks as we run through the top 10 universities in the US, where you can pursue the course of your dreams! UNIVERSITY TOP COURSES FEES(1st year tuition fee) Massachusetts Institute of Technology MS Electrical Engineering & Computer Science MASc Supply Chain Management INR 35L-1CR Harvard University MS Data Science MBA Masters of Law Bachelors in Artificial Intelligence INR 18L-72L Stanford University MS Computer Science MBA INR 31.9L-68.9L University of California, Berkeley MS Computer Science MA Information Management & Systems INR 22.9L-67.6L University of Chicago MS Analytics MS Computer Science INR 47L-67L University of Pennsylvania MBA MS Engineering-Data Science INR 27.4L-70.9L Cornell University MEng Engineering Management MIM INR 17.4L-91.8L California Institute of Technology (Caltech) MS Electrical Engineering MS Computer Science INR 32.83L-50.8L Yale University MS Statistics & Data Science MBA MIM INR 36.4L-66.7L Princeton University Master of Finance MS Computer Science INR 50L-65L Whether your dream university lies in California, Boston, or New Jersey, at Lorien, we assure you guidance throughout your journey! From counselling sessions that help you determine the right course and university, to tracking your application, to funding your education, to assistance in the visa process and test preparations, Lorien experts will always be by your side! So pack your bags, grab your textbooks, and get ready for the adventure of a lifetime. From the bright lights of the big city to the awe-inspiring wonders of nature, the USA is waiting to be explored! Contact us for a free counselling session over some American burgers and some coffee!