Tips to navigate the complexities of international student loans
1 year, 5 months ago

Tips to navigate the complexities of international student loans

The Hindu  

Many students who opt to study abroad often take a loan to cover the costs of tuition, accommodation, and other expenses. Credit history: Start to build your credit history early, it can help you get lower interest rates and higher loan amounts. A credit history is a record of a person’s borrowing and repayment activities that lenders consider when evaluating loan applications. Co-signer: Co-signers are usually parents, relatives or friends who have a strong credit history and agree to be responsible for repaying the loan if the borrower defaults. Tax Collected at Source: Money transfers abroad from a student loan are charged 0.5% TCS on amounts above Rs.

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Tips for students to manage their educational loans effectively
6 months, 3 weeks ago

Tips for students to manage their educational loans effectively

The Hindu  

Many students who opt for higher studies abroad also take an education loan to cover their expenses. One thing that many students do not realise is that repaying the borrowed amount is equally important to build a healthy credit score, which helps later in life when one is considering other financial products such as car loans, home loans, or credit …

As 20% TCS on foreign remittances is set to kick in, we untangle its mystery here
1 year, 7 months ago

As 20% TCS on foreign remittances is set to kick in, we untangle its mystery here

Live Mint  

Travelling to an overseas destination or remitting money abroad is set to be attract a higher rate of tax with 20 percent TCS to kick in from July 1, 2023 onwards. It is, however, vital to note that those who are remitting money abroad for education and for medical treatment will continue to pay a lower rate for remittances in …

International education loan: What students should not overlook while applying?
1 year, 11 months ago

International education loan: What students should not overlook while applying?

Live Mint  

2022 was a year of many ups and downs for students who were looking for an overseas education. In general, government banks accept three different types of assets as collateral security for secured education loans: immovable property, liquid assets, and third-party assets. For instance, public banks require a formality called the education loan disbursement letter which states the method of …

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