4 step process to get an education loan to study in UAE

 

The UAE is the financial and educational hub of West Asia. It is known for its modern cities, and campuses of the best educational institutes from different parts of the world. These universities mould their students into top-notch professionals that run and sustain the society. But learning courses at such campuses is expensive, and students need to take education loans to study in UAE. Getting an education loan to study there consists of 4 steps. In this article, we will tell you what those steps are.

 

  1. Calculate the education loan amount you are eligible for

You can calculate the education loan amount you are eligible for, using an education loan eligibility calculator. Many lenders provide these calculators for free on their websites.

 

Put your co-borrower’s monthly income, their monthly obligations, the rate of interest the lender has offered to levy, and the length of the repayment period according to your estimations, in the appropriate fields of the calculator and press the calculate button. You will get the maximum speculative amount of money you are eligible to get to study in UAE universities.

 

  1. Compare the lenders based on the services they provide

Read reviews about different lenders on the internet. Get to know the praises or complaints borrowers have for their lenders and based on these reviews shortlist a few lenders for yourself.

 

Compare those shortlisted lenders based on factors like the maximum loan amount they can give, the expenses that they will cover, the interest rate they will levy, the moratorium period they will offer, the length of repayment tenure, and the EMI value they will set and so on.

 

  1. Compare the lenders based on the value-added services they provide

Some students need money earlier in their admission process to a university. Ask the lenders if they provide loans or proof of funds if need arises.

 

Compare the lenders based on services like doorstep verification, fast approval, pre-visa loan, pre-admission study loan and so on. Also ask them the charges they will levy on your loan amount to provide these value-added services.


  1. Apply for an education loan to study in UAE universities

The last step is to apply for an education loan to finance your higher studies in the UAE. You will have to fill the loan application form, either online or offline. If you are filling the application offline, the lender’s executives will guide you through the form filling process. If you are filling the application online, the website will guide you through that process using prompts.

 

Also, you will have to attach relevant documents to the application form and submit it. The lender will, then, process your application. In it, they will verify the details and documents you provided them, sanction your education loan, and disburse the loan amount to the university or to the co-borrower.

 

So, this was the 4-step process to get an education loan to study in UAE educational institutes. Please consult a financial advisor and an education counsellor while planning the course of your higher studies and the ways to finance it. All the best!

Comments

  1. Micheal ByranApril 27, 2021 at 3:22 PM

    Hi everyone, I saw comments from people who had already got their loan from Anderson Loan Finance. Honestly, I thought it was a scam, and then I decided to make a request based on their recommendations. A few days ago, I confirmed in my personal bank account amounting to $15,000 dollars which I applied for. This is really a good news and I am so very happy that I advise all those who need a real loan and who are sure to reimburse to apply through their email (text or call) +1 719 629 0982. There are sincere loan lenders! They are capable to lend you a loan. Contact Mr Anderson E-mail: andersonraymondloanfinance@gmail.com

    Phone: +1 719 629 0982

    E-mail: andersonraymondloanfinance@gmail.com

    Office address is (68 Fremont Ave Penrose CO, 812400).

    ReplyDelete

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