4 mistakes to avoid while applying for an education loan to study in the UAE

Have you dreamed of studying in a reputed western university but also be closer to home at the same time? If yes then you do not have to look far. The UAE is that place; a place that is near to India and also has campuses of some of the best universities in the world. UAE is known to be one of the thriving economic and educational hubs of the west Asian world. To study in the UAE is one of the most enriching experiences. In this article, we will tell you about the mistakes you should avoid while applying for an education loan to study in the UAE:


  1. Not reading the terms and conditions carefully

Many students make this mistake while filling an application form to study in the UAE. They do not carefully read the terms and conditions of their lenders before taking an education loan. Students should read about all the benefits that they will get from their education loan. They should read the terms under which they can avail these benefits. They should also read the exclusions that will exclude them from those benefits as stated in their education loan agreement. Additionally, students should state to their lenders any important condition they want to be placed in the agreement. For instance, the choice of a third-party FOREX vendor from whom they want to convert their borrowed money from Indian Rupees to the currency of their host country.

  1. Wrong estimation of costs and finances

Students often compute the finances of their higher education with partial knowledge. They can avoid this mistake by talking to their seniors who have first-hand knowledge about the costs incurred for higher education loan. Students should get a fair idea about the travel expenses, the lodging and boarding expenses, the exam fee, the library fee, the stationery and laptop expenses, and so on from their seniors. And most important of all: they should know the total tuition fee of their course in a university.

  1. Filling incorrect information

Sometimes, students in the haste of filling the education loan application form, give wrong details to their financial lenders. They should avoid such a mistake. If they are filling an offline education loan form then they should take help from the lenders’ executives to submit the right documents. If they are filling an online education loan application form then they should read the form-filling instructions carefully, and follow the on-screen prompts to fill in the right details in the application. The students should also avoid spelling errors and submitting fake information.


    4. Not submitting the right documents

Students make the mistake of not submitting the right documents more often that you think as they are, mostly, in the haste to study in UAE. They should avoid this mistake. Students should ask the lender’ executives to guide them in submitting the relevant documents. Students should avoid submitting fake or forged documents as if they do otherwise they would be debarred from getting an education loan. Submitting incomplete sets of documents should also be avoided.

So, these are the 4 mistakes students should avoid while filling an online form for an education loan to study in the UAE. We hope that after reading this article, you have a better understanding about how to apply for an education loan application form. All the best!

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