Getting
admission into a top notch college is a dream of most of the students.
Most of these top colleges use point based system for enrolment in India
and abroad. Weightage is given to them on various parameters like past
academic record, SOP, etc. Now a day’s one of the important parameter is
the availability of finance to fund tuition fees and other expenses. In
order to overcome this situation Credila – An HDFC Ltd. Company has
come up with unique solution of approving loan before getting confirm
admission. This approval helps students to show proof of funds and avail
admission letter from their dream university.
It is mandatory to have your admission letter first before you apply for an education loan.
Banks will ask for a university admission letter in order to validate
the disbursement of your Students loan. Often this leads many students
to run from pillar to the post as most of the US universities will ask
you to show your financial status before you get the admission. These
institutions want to make sure that you can afford the USA education.
When these students approach the banks
they are denied any loan as bank needs admission letters from the
universities authenticating the need for student loan. In between this
quagmire, students get squeezed and their dream to pursue higher
education remains unfulfilled.
However, there are financial
institutions like Credila which sanction education loan even without the
admission letters from the universities you are seeking admission.
Credila has developed a special system to sanction education loan even
before the student get the confirmed admission. All you need to do is to
approach Credila with the university you are interested to get into and
submit all the necessary documents. Just with this information Credila
can process your loan even before you get the final admission.
These types of pre-approved students’
loan are really a great way to fulfil one’s dreams of higher education
especially in countries like the US where students need to demonstrate
the sources of funds failing to which the universities don’t give I-20
to the students.
In the US universities can conditionally
admit a student for a particular course on the basis of certain factors
like scores in GRE, GMAT to leadership qualities. However, the US
universities do not disclose any official document confirming admission
until the student is capable of demonstrating financial strength to bear
the cost of entire education in the US.
This official document of admission is
known as the Form I-20 which is nothing but a legal document tied to US
Immigration Services. Not only, the I-20, is the proof of a secured
admission in the universities, but also, a Visa permission to enter the
US for education. To cut it short, if you don’t have an I-20, you are
not going to the US for education.
“Credila’s education loan approval
before admission to the USA is the first ever in India. “Unless students
demonstrate the sources of funds, the US Universities don’t give I-20
to the students. With Credila education loan approval
letters, thousands of creditworthy students from India, now, will be
able to fulfil their dreams of higher education in the US.”
Over a period of time Credila has
understood various discomfort areas of students aspiring for higher
studies and addressed those with appropriate solutions.
