Germany has become one of the top choices for students wanting to studyabroad. It is ranked as the third most popular nation, with over 416,437 foreign students enrolled in the German higher education sector as of the winter semester of 2020/2021. Unlike any other country, Germany has around 12 universities that have made it to the world’s 200 top-ranking universities list of QS. Furthermore, countless course choices, exceptional research facilities, and high employability make the city a higher education paradise.
To procure an education loan to study in Germany, students have to submit specific documents that can vary as per the bank or NBFCs guidelines. However, most requests for the same set of paperwork as listed below:
1. Copy of the admission letter from the university
2. Loan application form
3. Academic documents – mark sheets and passing certificates
4. Identity proof- Aadhar card, Pan card, Passport
5. Residence proof
6. Documents on the fee schedule
7. Income proof of the guarantor
8. Bank statements/passbook
Acquiring an education loan for Germany is a relatively straightforward process. However, managing multiple lenders individually can be overwhelming. To simplify this process, Students Channeloffers assistance in obtaining an education loan for Germany through the following streamlined steps:
Step 1: To get started on your loan process, request a callback from us or fill in the common application form for an education loan.
Step 2: You will be contacted by a financial officer from our team who will ask for your basic information. Provide them with the requested details.
Step 3: The financial officer will perform a thorough analysis of your profile and provide you with the details of all the lenders you are eligible of getting a loan. Choose one lender from the provided list.
Step 4: Share all the documents from the checklist provided to you.
Step 5: As soon as you are done submitting your documents you will be logged in and the result of your application will be told to you within 2-6 days.
Step 6: Sign the loan agreement and receive the sanction letter from your lender.
The loan provided by the bank must be for educational purposes, not for personal expenses. The following expenses should be covered in the loan:
• Tuition Fees of the institution.
• Other University fees such as lab, examination, and library membership.
• Books and supplies required for the course completion.
• Refundable deposits of accomodation, caution money or refundable deposit.
• Travel expenses for studying abroad.
• Expenses of your study tour or project works related to the program
To avail of an education loan for studying in Germany, students must initiate the process as soon as they acquire their admission letter. They must carefully calculate the required amount and apply for the same at the institution that best meets their needs.
We want to create a platform where every student can find information about Abroad Education easily and thereby steer clear of any career fraud or fake promises by temporary education agencies that look to make profit in short time.
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