Newspatrolling.com News cum Content Syndication Portal Online
-
Studying abroad has many benefits – access to multiple programs, world-class faculty and a global professional network. It’s an investment in your future, personally and professionally.
-
To help students make informed decisions, Prodigy Finance highlights key financial strategies based on insights from 2024.
-
Early financial planning and staying informed about scholarships and loan offers can significantly ease the study abroad journey.
Thinking of studying abroad in 2025? It could be the best decision you make for your career. With over 2 million Indian students expected to be studying abroad this year, international education is booming. You’ll get to experience diverse academic programs, world-class faculty and infrastructure. You’ll also get to connect with people from different cultures and expand your professional network.
But studying abroad has its own challenges. From choosing the right program to managing finances, everything counts. To help you navigate educational financing in 2025, here are dos and don’ts for 2025.
“2024 taught us that being prepared and informed can be the difference. For students planning to study abroad in 2025, The financial options from Prodigy Finance, particularly their newly launched co-signer loan options, can be a good choice. Stay informed, plan smart and let your education dreams take the lead,” said Sonal Kapoor, Chief Business Officer
Plan Your Finances Early
Start by creating a detailed budget that includes tuition fees, living expenses, and additional costs like travel insurance and health check-ups. This will help you stay organised and have a smoother experience. If you are considering education loans, apply well in advance to ensure timely processing. Understanding the eligibility criteria, interest rates and repayment plans early on will help you sort out your finances for your visa application.
Try Early Repayments During School
When you take out a loan for studying abroad, the interest usually starts adding up right away, even while you’re still in school. While many lenders offer a grace period, where you don’t have to make any payments until after graduation, making some early repayments while you study can help reduce your overall loan.
Use Education Loan Calculators for Comparison
Education loan calculators are useful tools for students planning to study abroad. They allow you to input various loan amounts, interest rates, and repayment terms to estimate your monthly payments (EMIs) and total repayment costs. By using these calculators, like one from Prodigy Finance (https://prodigyfinance.com/
Watch Out for Promotions and Discounts
Many financial institutions, including Prodigy Finance, offer promotional rates or discounts to students. In 2025, keep an eye out for these and you could save big on your education loan costs. You may sign up for email updates from trusted lenders to stay informed about their latest offers.
Research Scholarships Thoroughly
Scholarships are a fantastic way to get additional financial help for your international education. Explore various scholarships available for your desired programs. Prodigy Finance offers scholarships like the Allan & Gill Gray Philanthropies African Student Scholarship and the University of Louisville – College of Business Scholarship. Many universities also provide merit-based and need-based scholarships that can help reduce costs significantly.
Don’t Overlook Hidden Costs
Be mindful of fluctuating exchange rates and hidden fees that can impact your budget. These may include visa application fees, health insurance, accommodation charges, loan processing fees, and costs for textbooks and supplies. Always review the total cost of borrowing when applying for loans and ask for a clear breakdown of all expenses involved.
Don’t Overborrow
It’s easy to think you need more money than you actually do when caught up in the excitement of studying abroad. Remember that loans must be repaid with interest. Before borrowing, carefully consider how much you truly need for tuition and living expenses.
Planning your study abroad journey requires foresight and strategic decisions. By exploring scholarships, staying alert for loan offers, and managing finances effectively, you can set yourself up for success in 2025. For more information on financing your education abroad or to connect with expert counsellors at Prodigy Finance, visit https://prodigyfinance.com/.
Loan offered between $10k and $220k
For more details, please visit https://prodigyfinance.com/
