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- เผยแพร่เมื่อ 20 ต.ค. 2024
- ‘International Student Loan: MPower finance & Prodigy finance student loan- Part 1’ is the first part of the 10th episode of our web-series. Start your abroad education loan process by requesting a call back @ www.wemakescho...
Our Financial officer will get back to you and assist you until the sanction. All the services offered by WeMakeScholars are free of cost as this initiative is supported by the IT Ministry, Govt. of India.
This episode is divided into two parts for our audience to have a better understanding. The first part will discuss MPower Finance & Prodigy Finance student loan policies and why going for nationalized banks and local NBFCs is advised for Indian students. This episode will focus on the following major points:
Types of International lenders (1:11)
Prodigy Finance (2:04)
MPower Finance (2:40)
International NBFCs Vs. Indian Banks/NBFCs: A detailed comparison (3:26)
Drawback 1: Processing Fees (3:34)
Drawback 2: Floating Interest Rate (4:49)
Drawback 3: Income tax exemptions (7:34)
Other reference links from the episode:
LIBOR forecast: longforecast.c...
Loanflix is the most comprehensive web-series on abroad education loans. The motive is to empower students and their guardians so that they can take an informed decision about the education loan. The titles of our previous 9 episodes in this series and their links are as follows:
#1. Introduction to study abroad education loan - y2u.be/-TJ0XCrL0dw
#2. Secured education loans - • Collateral #EducationL...
#3. Abroad Education Loan without collateral - • Abroad #EducationLoan ...
#4. Documents for Education loan - y2u.be/5PtpYVQ7Oo8
#5. SBI education loan for abroad studies - • #SBI Education Loan fo...
#6. SBI Education Loan- Documents, Process & Timeline - • #SBI #EducationLoan: D...
#7. Bank of Baroda Education Loan for abroad studies - • BOB Abroad Education L...
#8. Education loans from Government Banks, Issues and solutions - • #EducationLoans from G...
#9. Unsecured education loan from NBFCs - An overview - • #Unsecured #EducationL...
We hope that the information shared in this episode regarding MPower finance and Prodigy Finance student loan policies has helped you in one manner or other. There is more to come in the 2nd part of this episode. So don’t miss episode #10.2 titled,
‘International Student Loan: MPower & Prodigy finance foreign education loan’ (Part 2)
• International Student ...
Please subscribe to our channel for more such Informative videos. Also, do like and share with your friends. Good luck!
Script editor- Arjun R Krishna
Shot, Edited & Directed by Sreeman Reddy
About the Presenter - Damini Mahajan is a visionary entrepreneur and co-founder of WeMakeScholars.com, an education finance start-up for international education. Damini has been mentioned as "Top Women in Tech" by The Asian Entrepreneur. She has also been awarded as the winner of Silicon Valley Challenge by Action for India 2016 and was in Top 75 start-ups in Power of ideas by Economic Times at IIM Ahmedabad.
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Contact us at hello@wemakescholars.com
Hi everyone! We have created a calculator as requested by many. It will help you to calculate how much extra you would have to pay if you choose to go for a USD loan instead of an INR one. Compare your USD loan to INR across various parameters here www.wemakescholars.com/inr-usd-loan-calculator
I guess the whole point in this Video was lost, as the comparison is between Indian NBFCs and Prodigy. The major driving factor between both is the need for atleast a CO-APPLICANT. Hence if you don't have a co-applicant, you can NEVER avail of any loan from Indian NBFC and hence this comparison would not make any sense as Prodigy being the only option.
Hi, Amit! Correct. That's why at the end of the Part-2 video, we have clearly mentioned that if you do not have a co-applicant and no collateral, then Prodigy is your best option. But if you have at least one of the 2 (co-applicant or collateral), taking an Indian bank or NBFC loan will be a better option. th-cam.com/video/D5BdvJd113g/w-d-xo.html
Do we get tax benefit on loan for foreign education?
Hi Rakesh! If you finance money for your education from a foreign lender, you will not be entitled to tax benefits under section 80(E). Tax benefits are available for Educational loans taken from Indian lenders only. We suggest you to talk with our Financial Officer about the same so they can talk with you about the advantages and diadvantages of taking an edcuation loan from foreign lenders, so you can make the right descision towards your Higher education. Please connect to our loan team by requesting a callback on this link bit.ly/3KLb0zu Once you fill out the form, they will get back to you to guide you further.
Prodigy is now using SOFR instead of LIBOR.
please make a video on how does this change effect the interest rate.
Hi Abhijith! Thanks for the suggestion we will definitely look into it. In the mean time if you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan
prodigy finance website states that they charge 5% of the loan amount as the admin fees. so which is correct, 5% or 2.5%?
Hi, Parashar! As mentioned in the video, the processing fee of international lenders can be anywhere between 2.5-5%. If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan
Hey can you also compare a loan form Leap finance... They are new so it might help to choose amongst other foreign lenders!
Hi, Sahil! Your WeMakeScholars financial officer will be able to compare it for you. Have you already been assigned a financial officer?
If I don't have a collateral as asked by all Indian Banks what options am I left with??
Hi, there are 2 options listed below in the order of preference for you
1) If no direct collateral, arrange a third party collateral belonging to uncle/aunt/ grand parents/ relatives/ family friends etc. in the long run, it’s always beneficial to go for a collateral based loan from public bank as it’ll be very cheaper. Check the difference @ th-cam.com/video/GHuHygMGbs0/w-d-xo.html
2) Go for other non collateral options which is suggested by our financial officer
Hence check your education loan eligibility and the financial officer will contact you directly soon @ www.wemakescholars.com/check-your-eligibility Good luck 😉
MPOWER offers no-co-signer loans for studies in the US.
SBI is no longer providing variable interest rate, so effectively a 2% spread is mandated. Does it still remain appealing given MCLR only increased by 0.5% in 10 years? Is there any bank which still provides variable?
Hi, Hitesh! SBI has now shifted to fixed interest rate. This is actually an advantage to borrowers as it gives upfront clarity on ROI and protects them in times of economic slowdown.
Will international loans affect visa? Will the visa officers not accept loans from prodigy?
nikitha maguluri Nothing as such. But there is a perspective which we’ve been seeing in the market that when you take an education loan from the international lender, the visa officer thinks that you are definitely going to stay back in the US to earn in USD to clear your USD loan. As you know the visa officers ideally want every student to return to their home country after the visa duration. As these thoughts contradict, this kind of issue might arise. Although we don’t have a first hand experience of such an issue, there is such a perspective/ discussion in the market. Speak with our financial officer and get the best education loan suiting your profile @ www.wemakescholars.com/study-abroad-education-loan
My father retired and recently passed away...I have no co applicant.is there any chances that I can avail Loan with collateral
Hi, Aishwarya! Close blood relatives like mother, siblings, parents' siblings, etc can also be the co-applicant. We would have to evaluate your profile to guide you further. Please connect to our loan team by requesting a callback on this link: bit.ly/education-loan Once you fill out the form, they will get back to you to guide you further.
My question is should the value of the collateral be higher or equal to the loan amount to get loans in Govt banks ?
Hi, it actually varies from bank to bank. There are options for both cases. Better you speak with our financial officer and you can get a better picture. Request callback @ www.wemakescholars.com/study-abroad-education-loan
do we have to pay intrest of loan while we studying or we can pay the intrest at time of repayment ??
Hi Devendra! Interest will be charged on the disbursed amount in either of the cases but incase of public lenders it is not made mandatory to pay. Incase of private lenders you are either required to pay either the simple interest or partial simple interest. For further guidance please connect to our loan team by requesting a callback on this link:bit.ly/education-loan Once you fill out the form, they will get back to you to guide you further.
Hi Ma’am,
Just wanted to check if WeMakeScholars has a tie up with Prodigy Finance and if a loan from Prodigy Finance can be sanctioned via WeMakeScholars?
Hi, Sanya! No, I would suggest you watch this video on USD vs INR Education Loan, Which is expensive? Prodigy Finance vs Indian Bank: th-cam.com/video/wzaAc2X0ZF8/w-d-xo.html For further guidance, please connect to our loan team by requesting a callback on this link: bit.ly/education-loan Once you fill out the form, they will get back to you to guide you further.
Question: Hi, I have received admit from a top college, but Indian lenders (banks/NBFCs) will only lend me INR 40 lakhs(non-collateral) for my MS. This amount is only about 50% of my total two year costs. I need at least 70-75% of my total costs to be sanctioned in order to get my F1 visa. I can cover the rest of the 25% from my personal sources of fund. On the other hand, the Prodigy finance gives pre-approval for the second year as well. Therefore, according to you, what option should I take-
1. Indian lenders? [In that case can you suggest lenders who will lend me 70% of the two year amount].
2. International lenders?
Hi, Aditya! The maximum loan amount offered by a lender like MPower finance is $25,000. That is not enough to cover your expenses. Coming to Prodigy Finance, in most cases, they have provided a 65% coverage of total expenses only. They approve a 100% expense coverage only in rare cases. Also, before disbursing this 65% loan amount, Prodigy Finance requires a loan applicant to show proof of the remaining 35% of the amount in their bank account. You have mentioned that you can cover only about 25% which will not be sufficient.
On the other hand, a public bank in India offers an applicant 90-100% coverage of their total expenses, depending on the value of the collateral. House, flat, non-agricultural land, FD, LIC, govt. bonds can all be used as collateral. And in case you don't have collateral of your own, government banks accept third party collateral as well.
I hope you've watched both the videos on this topic and understood all the drawbacks of taking a loan from an international lender. Keeping the above and the rest of the points in mind like ineterst rate, income tax exemptions, processing fee and interest rate parity, I would say going with an Indian lender is a far cheaper option. For further guidance on this, you can connect to our loan team by requesting a callback on this link: bit.ly/education-loan . Once we get your request, the respective financial officer for your region will call you to help you further.
I am in a position that I can't take loans from Nationalized banks, and NBFCs are charging whopping high rates. I do have a guarantor in the US, so I am thinking of taking loans from banks like -
US Banks tie up with our counsellor
1) Sallie Mae
2) Earnest
3) Ascent Student Loans
You think I am doing correct?
They give 4-7 percent with no processing fees. Only partial interest to be paid while studying.
Hi, Nishit! While the interest rates offered by U.S. lenders are tempting, there are a few factors to consider. One such factor is interest rate parity. When you compare the USD interest rate in terms of the INR, the total interest amount is actually higher. This difference in interest rate is the result of the huge difference in values of both the currencies. The concept of interest rate parity is explained in detail in the second part to this video: th-cam.com/video/D5BdvJd113g/w-d-xo.html
Another factor is income tax exemption. Education loan applicants can claim an exemption on the income tax deduction on education loan interest rates under Section 80E of the Income Tax Act. Only students who borrow an education loan in India are allowed to avail of this provision. You can watch our video on the topic here: th-cam.com/video/xd_bo4f-gJc/w-d-xo.html
Please keep these points in mind when making your final decision. You are already in touch with your Financial Officer. Please feel free to reach out to him for any questions.
@@WeMakeScholars Hello, I checked both the videos and they were really helpful to me, thank you.
Yes, Mr. Avinandan is there in touch with me and he has been very helpful as well.
I'll now surely be able to take an educated decision.
Thanks for the information and its really helpful.
Could you please upload more videos about prodigy as they always use APR term along with interest rate.
So which one will be applicable for us while repaying the amount ?
Will it be APR or interest rate on our loan amount?
We cannot claim section 80E for more than 40K
Hi Justin! The amount has no upper limit, you can get tax benefit on the entire amount of interest paid but not on the principal amount. If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan
I have received 17000 usd from prodegy for Kingston university london but our Indian firm IDP not accepting this loan as my fund they are telling that you have to go by nationalise banks like sbi,icici or hdfc and they are not providing non collateral loans then what to do to consider that loan to show in students fund as we have shown loan approved letter
We can help you get a non-collateral loan. Please get in touch with us by calling on 9393344424 or register via www.wemakescholars.com/education-loan/study-abroad
Helo ma'am, we have a problem with cibil score and property..so I think I have to go for international lenders..will u assist in applying in international lenders?
Hi, Anna! Please watch this video on why taking a loan from an Indian bank is a better choice: th-cam.com/video/wzaAc2X0ZF8/w-d-xo.html We would have to evaluate your profile to determine the best loan options. Please connect to our loan team by requesting a callback on this link: bit.ly/education-loan Once you fill out the form, they will get back to you to guide you further.
do you provide a loan without co-applicant?
Hi! It is possible to get a loan without a financial co-applicant depending on your profile. You may watch this video for more details: th-cam.com/video/gQixPzWe0z4/w-d-xo.html If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan
Mam can u please guide me from where I should get my loan. We are from a middle class family and planning for my master's from Canada. And about 20lakh rupees are expected as the overall cost. We don't have anything to show as collateral.
Hi, Ashwin! Your Financial Officer will be getting in touch with you by today or tomorrow to guide you through the loan process.
@@WeMakeScholars ma' am I am from Srilanka. I also trying to do masters in US. I could not understand many of these things. Can you guide me regarding these loans and support me for reaching my goals
Is there a comprehensive video explaining Discover and Sallie Mae student loans? Need to look at those options as I have some relatives staying in the US.
Hi, Anish! Please watch this video which explains why taking a loan from Indian lenders is a better option: th-cam.com/video/wzaAc2X0ZF8/w-d-xo.html If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan
So in regard to the interests being paid during the say 15 year period will it keep getting higher as time passes?
Hi, Yash! Yes, the inetrest rates are variable. Most international lenders typically use LIBOR which increases at a faster rate. However, if you take a loan from a nationalised bank, the interest rate does not increase that much over time. If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan
Does Prodigy Finance and Mpower Finance provide loans to international applicants?
Hi, Zain! Sorry, we would not be able to provide guidance on Prodigy's and MPower's policies. For alternative lender options, you may connect to our loan team by requesting a callback on this link: bit.ly/education-loan
Mam does m power finance provide amount for gic and for my flight expenses .
Hi, Kamil! Please watch this video on why taking a loan from an Indian lender is a cheaper option: th-cam.com/video/wzaAc2X0ZF8/w-d-xo.html For further guidance, please connect to our loan team by requesting a callback on this link: bit.ly/education-loan Once you fill out the form, they will get back to you to guide you further.
Underrated Education Information channel 💯🔥🤩
Hi! Glad you found the content helpful. If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan
Hi, are NRI students eligible to apply for these loans through WeMakeScholars? Thanks
Yes, when you approach any bank directly, they usually refrain offering to NRI candidates.
But, via WeMakeScholars, it is possible. Drop a callback request @ www.wemakescholars.com/study-abroad-education-loan
Could I understand why you have ignored the effect of the fluctuating currency in your video?
Hi, Vignesh! We have addressed this in our next video: th-cam.com/video/D5BdvJd113g/w-d-xo.html
I have a query plz mam.
Let’s say I got loan from m power sanctioned for 47000 dollars and I use 10000 dollars for the first year and how much simple interest should I be paying ??
Should we pay simple interest for the amount we got disbursed or the Total amount sanctioned to me ??
Please help me asap mam
Thank you very much
Hi, Ragingram! Please watch this video on why taking a loan from an Indian lender is a cheaper option: th-cam.com/video/wzaAc2X0ZF8/w-d-xo.html For further guidance, please connect to our loan team by requesting a callback on this link: bit.ly/education-loan Once you fill out the form, they will get back to you to guide you further.
LIBOR (USD) is now less than 0.5% . Any comments?
Hi Parth! We are working on making a video regarding the same. If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan
Do any non-collateral loan options exist for countries like Canada , uk?
Hi, Rohit! Yes, you can get a non-collateral loan for Canada and UK. You may watch this video on list of eligible countries for a non-collateral loan: th-cam.com/video/9YQUCtLnsJY/w-d-xo.html If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan
Hi, very informative video. Can you tell me whether indian nbfc's require collateral?
Hi, Amal! Glad you found the video informative. It is possible to get a non-collateral loan from an NBFC if you meet the eligibility criteria. For further guidance on the same, please connect to our loan team by requesting a callback on this link: bit.ly/education-loan Once you fill out the form, they will get back to you to guide you further.
@@WeMakeScholars is it mandatory to fill out the form in order to speak to a loan officer? I wish to speak first then I will fill in the application
@@camel6609 Sure. Please share your contact details and city/state to hello@wemakescholars.com . The respective team for your region will get in touch with you.
Hi
I have approved a loan of 20000$ from prodigy finance with variable interest rate (7.47%) and with annual APR (8.09%) ,loan repayment period is 7years
Can you please help understand this and is it comparatively better to loan taken from Indian bank.
Hi Arvind, a loan from an India based government bank is a better option any day. Please request a callback from our loan team here, and they will explain why: bit.ly/education-loan Good day!
Can you share your any social media account I want to know about laon proceed of prodigy because I don't have any collateral
Can we take this type of loan for other countries like Norway?
Hi, Ashi! Yes, we can help you with education loans for Norway from Indian lenders. Please connect to our loan team by requesting a callback on this link: bit.ly/education-loan Once you fill out the form, they will get back to you to guide you further.
is section 80(E) applicable for non- Collateral loans
Hi Manikanta! Yes, It is applicable for unsecured loans aswell. If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan
This is gold! Thanks a lot!
Hi, Munish! Glad you found the video helpful. If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan
@WeMakeScholars if we have a co-signer in the US - what is the best option?
Hi Meghna, apologies for the delayed reply. If you have a US cosigner, then go for a US bank like Citizens bank etc.
That would be better :) Unfortunately, 85% of the students don't have such US co-signers and hence go for Indian banks/ NFBCs.
Is there any Indian NBFC/Bank who gives loan without collateral?
Yes, all the NBFCs in India and private banks can offer you a non-collateral loan. The unsecured amount can be as high as 50 lacs depending on the country you are going to. If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan . Once we get your request, the respective financial officer for your region will call you and will be able to tell you if you are eligible for an unsecured loan or not.
Hello ,
I am currently doing my bachelor degree and planning to do MBA in Canada from some reputed university costing nearly 40 lakhs
I don't have a colletral please guide! Thankyou
Hi, Sukh! Your eligibility for a non-collateral loan depends on factors like course, university, co-applicant's financial profile, etc. We would need some more details to guide you further. Please connect to our loan team by requesting a callback on this link: bit.ly/education-loan Once you fill out the form, they will get back to you to guide you further.
Hi can you please give some more information regarding mpower finance
Hi Benazeer, this video covers dollar loans including MPower and Prodigy. This is our opinion on why dollar loans are not a great option for Indian students. If you have further doubts, you can get them cleared by speaking with our loan team here: bit.ly/education-loan
Can we get loan from international lenders for Germany
Hi Mehnazz! Getting an education loan from an international lender might be costlier for you and you may go through this video which discusses the same th-cam.com/video/wzaAc2X0ZF8/w-d-xo.html. If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan
My both Father and Mother are self-employed. They have an ITR of more than 10 lakh per annum. We also have immovable assets worth more than 4 Cr. But my Educational loan was rejected because my parents had Cibil Score less than 600. Can #Wemakescholars help me in this case?
Hi, The CIBIL score is an important factor when it comes to borrowing education loans. If you have a genuine explanation for the low CIBIL scores, then you definitely stand a chance for an education loan. SBI needs co-applicants to have a CIBIL score of more than 650. NBFCs have a higher cap for the same. You may request a callback from our financial team @ bit.ly/wmscallback and they will help you out regarding the same. Thanks for writing to us.
@@WeMakeScholars I requested a call back and gave them a genuine explanation but your financial team said 'No'.
Okay... perhaps the CIBIL score was much lower than the benchmark. In that case, it's difficult for us to persuade the bank in favour of your case...
So taking student loans from SBI or Progidy Finance which one is better as an Indian National??
Definetly a public bank like SBI. Prodigy Finance looks cheaper in the first look. But, when you actually see the currency fluctuations, it is pretty expensive. You may use the USD to INR education loan calculator and see the actual difference yourself. Check @ www.wemakescholars.com/inr-usd-loan-calculator Also, apply for an online education loan from SBI for faster processing @ www.sbieducationloan.co.in
@@WeMakeScholars thank you so much for replying instantly......n my dad's CIBIL score is 881......can i get a loan in SBI bank for Ms in USA ???
@@AdityaSingh-gt3pm Yes, you can get a loan from SBI with a CIBIL score of 881.
@@WeMakeScholars tysm for helping out.....hope your channel grows more....😊
@@AdityaSingh-gt3pm Thanks for your words of appreciation, Aditya! You can start your loan process with SBI by applying on this link: www.sbieducationloan.co.in Once you fill out the form, the Financial Officer will get in touch with you to guide you further.
Can we get loan from prodigy finance for study in Canada ?
Hi, Mohit! It is always a better option to take a loan from Indian banks rather than international lenders. You may watch this video for more details: th-cam.com/video/wzaAc2X0ZF8/w-d-xo.html If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan
I have 2 questions as it only for Indian nationality student another question as I am already student studying civil engineering and I want take this loan as it possible for me to take it. I will tell you about my self I am studying bachelor in Europe.
Thanks in advance
Hi, the issues about an International lender explained in this video does apply to those countries where the currency is depreciating. Unfortunately, you won't be able to get this loan for undergraduate/ bachelors studies.
Is admission letter for Graduate school sufficient for applying through financing channels like Prodigy Finance and MPOWER Financing?
Hi, Zain! Sorry, we would not be able to provide guidance on Prodigy's policies. For alternative lender options, you may connect to our loan team by requesting a callback on this link: bit.ly/education-loan
Can you make a video about leap finance?
HI Abdul! Getting an education loan from an USD lender might be costlier for you. You may go through this video which discusses the same: th-cam.com/video/wzaAc2X0ZF8/w-d-xo.html. If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan
Will they provide loan for 2nd masters in aboard
Hi Srivasu, we can help you with an education loan for second masters. Please get in touch with our team by requesting a callback on this link: bit.ly/education-loan
Hello my brother wants to take loan for studying in Canada but we have only 2 land plots can I loan from plots?
Hi Bharath, yes, the loan can be given on the land plots if the value of the property is enough for the loan. If one property is not worth enough, then you can add the second property. To start the loan process, please get in touch with our team by requesting a callback on this link: bit.ly/education-loan
What if someone faulters and has no property to pay off the loan? Like not on their name but their parents?
Hi, most students who fail to pay back their student loan debt are sent several warnings by the lending bank. If the student still fails to come up with a valid excuse for not paying the debt back or doesn't pay the loan, whichever happens first, the lending bank will have no other option but to register a case against such students. The further actions taken by the lending banks will depend on the judgement received from the respective court. It is advised that you pay off the loan somehow and if you are not able to pay back due to genuine reasons, you may approach the respective bank stating the same.Thanks for writing.
Hello mam how much money I required to study in USA
Hi, Ashutosh! It depends on your tuition fee and living expenses. If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan
Can these loans be for Undergraduate courses?
Hi, Abdullah! Prodigy Finance does not provide loans for UG courses. MPower Finance only helps UG students within 2 years of graduating. The best choice for a UG program would be a secured loan from a government bank. If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan
Please make a video for those loan takers how have local residents in usa !
Thanks for the feedback Yash. Will forward your suggestion to the concerned team! :)
What if I need loan for my expense abroad, but not for fees??
Hi, Harsh! It is possible but it depends on your loan amount, country, etc. Please connect to our loan team by requesting a callback on this link: bit.ly/education-loan Once you fill out the form, they will get back to you to guide you further.
I have try to sign up ur website but I have selected one country it became dropdown
Abdul latheef M Hi, we couldn’t get your issue. Your country is not there in the dropdown? Which country are you trying to select?
Can anybody say is it true or fale?and ye loan ke pehle process fee mangte h kya ......plzzz batao
Hi, Jitendra! WeMakeScholars is an organization which is funded and supported by the Ministry of IT, Govt of India. All the services of WeMakeScholars are completely free of cost. You may connect to our loan team by requesting a callback on this link: bit.ly/education-loan Once you fill out the form, they will get back to you to guide you further.
But mam mujhe 7 lakhs ke under chahiye uske liye apke team ne vidyaloan ko mera number diya and then o call kiye and processing fee bola 11k with gst
Can I give u her no.? I have contact number
And maine isi link par form fill up kiya tha uske baad Ishita name se phone aaya tha
@@jitendramandal1159 Hi, Jitendra! Please note that WeMakeScholars is free and will always be. For all those cases below 7.5 lacs non-collateral education loans from GOVT banks, we are not authorized to handle applications directly. Anything above 7.5 lacs, we can directly handle it. VidyaLoans is a paid service and it is totally your decision to opt for it or not. Going via them makes it easier for such 7.5 lacs below loans as they have the expertise for the same. We are working with VidyaLoans ONLY for such cases of 7.5 lacs non-collateral from GOVT banks.
Hi! I have got a confirmation letter from prodigy finance but got a rejection of loan without collateral from hdfc credila. I have to show my financial docs for i20 and visa. Can i change the bank/finance firm after i get an i20? And what can i do, if i do not want to take loan on collateral?
Hi, yes, you can change that way. There are no issues. In fact many students do that. You can check your eligibility @ www.wemakescholars.com/check-your-eligibility and our team of financial officer will contact you to guide. But, better you start the second loan process right away instead of waiting to finish the visa etc.
Bro did you change it?
Please make a video on how is interest rate is accumulated on the loan amount .
Hi! Thanks for the suggestion. You may watch this video which briefly discusses the repayment process of various lenders: th-cam.com/video/D4OZvw4WFLI/w-d-xo.html For further guidance, you may connect to our loan team by requesting a callback on this link: bit.ly/education-loan Once you fill out the form, they will get back to you to guide you further.
@@WeMakeScholars I contact you Westbury but no one called
@@georgechristy11 Sorry to hear that. Please share your registered email address. The loan team will contact you ASAP.
@@WeMakeScholars georgechristy11@gmail.com
@@georgechristy11 Hi, Your Financial Officer got in touch with you. Hope your queries have been resolved. Please feel free to reach out to him for any further questions.
Hi, is there any age limit for Prodigy Finance applicant?
Hi, Rene! WeMakeScholars is not associated with Prodigy Finance, as it is expensive. You have watched the video. However, if you require more information, you can request a callback with our loan team on this link: bit.ly/education-loan They will show you the best options.
Both lenders are best for masters in us, even the Indian NBFCs are good for master's degree, but what about the undergrad degree, I got an offer from us accredited university but got my loan rejected from government banks in India due to no collateral, got rejected from NBFCs because of low income of co-applicant, power gives eligibility of $50k what should I do, how can I finance my undergrad study in USA ?
Hi! Getting an unsecured education for a bachelors degree might be difficult. But however our loan team can evaluate your profile and guide you on suitable loan options from Indian lenders as USD loan might be costlier for you. Please connect to our loan team by requesting a callback on this link:bit.ly/education-loan Once you fill out the form, they will get back to you to guide you further.
Helo maam, can we apply for prodigy finance loan for doing PG Diploma in Canada?
Hi, Anna! Taking an education loan from an Indian lender is a much better option than international lenders like Prodigy Finance. You may watch this video for further details: th-cam.com/video/wzaAc2X0ZF8/w-d-xo.html If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan
Hi, I would like to avail loan of 45lakhs, my father is retired and there is not pension. We have a vacant residential plot which falls under B Katha BBMP Karnataka. Can you let us know best non collateral and collateral loan lenders
Hi Pinky, B khata is a little issue. But, our team had successfully helped a few students with such property to secure a loan. Hence, please submit a callback request and our financial officer from our team will get in touch with you to guide throughout the process. www.wemakescholars.com/study-abroad-education-loan
Hello mam i'm from middle class family ,I have collateral but it comes under grampanchayat i want to do my masters in UK I need loan up to 20L can u please guide me
Hi, Ayesha! Gram Panchayat properties are usually not acceptable but we can check. For further guidance, please connect to our loan team by requesting a callback on this link: bit.ly/education-loan Once you fill out the form, they will get back to you to guide you further.
Thank you for such a wonderul video
Is it essential to have a co applicant for unsecured loan ? Also is it essential to pay partial / full intreset during study for an unsecured loan ? If we say , i took 20 lakhs loan then what amount should i pay with partial intreset ?
Hi, Rama Krishna! Yes, a co-applicant is mandatory for both secured and unsecured loans. For an unsecured loan, the co-applicant should have a good financial profile and should file ITR. Yes, you will have to pay full or partial interest during the moratorium period if you take an unsecured loan from a private bank/NBFC. The rates of interest vary from lender to lender. The amount of interest you'll be paying will depend on the lender you go with. If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan
@@WeMakeScholars Really appreciate your prompt reply .. Thank you .. Just one more query in addition to the above ...Do government bank give unsecured loan with no interest payments while studying?
@@RamaKrishna-gx6oo They do but you can only get an unsecured loan upto 7.5 lakhs from government banks.
@@RamaKrishna-gx6oo did you get the answer about do we have to pay intrest of loan while we studying or we can pay the intrest at time of repayment
@@devendrabishnoi Boss my age is around 39...so my issue is complicated one ..But my maternal uncle who has good business profile said he will stand as guarantor so there would be no problem for me to avail loan but by gods grace ..i am well settled in india and running my cast iron cookware business successfully. Hence ,.cant go for education right now as i need back up ..But surely will go to do MBA ...
What will be the best option for ugrads in uk?
Hi Harish, it depends on multiple parameters.
Better request a callback @ www.wemakescholars.com/study-abroad-education-loan and speak with the assigned financial officer to get the best education loan option suiting your profile
What did you choose? & how ?
Libor rates seems low now
Hi, Thomas! Please watch this video on USD vs INR Education Loan, Which is expensive? Prodigy Finance vs Indian Bank: th-cam.com/video/wzaAc2X0ZF8/w-d-xo.html If you are seeking help from our team with the loan process, please get in touch by requesting a callback on this link: bit.ly/education-loan
Thank you for providing so much value!
Suggestion: Please request your viewers to hit the like more often as that will help grow your channel.✌😊
Hi, Neeraj! Glad you like the videos! Thanks for the suggestion, we'll keep it in mind! :) If you need help with your education loan, please request a callback with our team by clicking on the following link: bit.ly/education-loan They will get back to you within 24 hours!
How can i upload Google drop-down address while filing the form
Hi Sheladiya, apologies for the inconvenience caused. We'll be fixing the issue ASAP.
Meanwhile, you can just send an email to hello@wemakescholars.com regarding your details.
Prodigy is providing me loan at 10%, even if it increases 2% in next two years it will be 12%, which most indian Nbfc are offering me now so if i opt for prodigy I’ll pay less interest as compared to indian NBFC.
Hi Shantanu, That's what I have tried to explain in this whole video. 12% of a USD loan is NOT equal to 12% of INR loan because one is an appreciating currency while other is the depreciating currency. This concept is called as "Interest Parity", you may google and read more. Or may be you can watch the video again. It is clearly derived that 10% of USD loan is equivalent to 15% of an INR loan.
Thanks WeMakeScholar,
1. But the LIBOR(USD) has come down drastically ?
2. In case of Prodigy loan, do a person working on H1B1 get income tax redemption in USA ?
Hi, Patro! Please watch this video on why taking a loan from an Indian lender is a better option than foreign lenders like Prodigy: th-cam.com/video/wzaAc2X0ZF8/w-d-xo.html For further guidance, you may connect to our loan team by requesting a callback on this link: bit.ly/education-loan Once you fill out the form, they will get back to you to guide you further.
Hii mam, I like to study acca in india itself... How can we get education loan here
Hi Aardra! Sorry we will not be able to help you out with the same as It is not possible to get an education loan for the course mentioned(ACCA) .
Hello Team,
I have a question like this prodigy finance help those who wants to pursue further education in USA or any other country.
I hope to hear from you soon.
Thanks
Hi Pravin, what's the question?
@@WeMakeScholars Is this only for USA study or any other country in the world.
@@WeMakeScholars only for USA or any other country in the world
@@pravindeshmukh4098 for the most of the country of the world like other banks
I had previously been sanctioned a loan of $64k for fall 20 - spring 21. A further loan of $15k was conditionally approved.
I deferred my admit and intimated Prodigy.
I recently received an email from prodigy saying that only $19k has been approved for Spring 21 and $64k was conditionally approved for Fall 21 - Spring 22.
I asked why this was so. Apparently, Columbia is certifying loans on our behalf only for the Spring 21 semester. Kindly help me as I am an international student and it's mandatory for me to take 12 credits per semester that would only cost me around $
26k
Hi, Ankit! Sure, our team can look into it after getting all the details. Please connect to our loan team by requesting a callback on this link: bit.ly/education-loan Once you fill out the form, they will get back to you to guide you further.
I can't take a loan
education lone
Are you referring to studying abroad? Please give more details about why you can't take an education loan.
Hey.... this channel Authority,, My Creator bless on you.
I'm Noman from Bangladesh, I'm processing my documents in Germany university for my Masters course.
If I get Offer letter from Germany university, then I need 10236 euro according to block money.
If I want to get this amount Loan , so that, how will I get this loan...??? please suggest & co operate me....!!! I'll so grateful & glad.
Hello Noman, unfortunately, we have received our authorization to process education loans only for Indian nationals. Therefore, I will be unable to help you out. Sorry about that!