Every year, USA receives over 90,000 applications for the student visa (both F1 and J1) from students all over India. For an Indian student to gain entry into the US, they need to fulfil all the criteria for application, the most important of which is the documentation submission.
No, two loan letters won’t be accepted as proof of funding. Firstly, you won’t be able to take two education loans simultaneously. This is because as an applicant you will have to submit your PAN card, which is used to check your credit and loan history. Moreover, once you have applied for a loan, it will be reflected in your CIBIL score. You may take a personal loan in somebody else’s name and use it, but I wouldn’t advise it.
Second, taking two loans will reflect poorly on your financial situation.
It is better to take one education loan of the amount you require for your US education. Nothing beats the benefits of an education loan - there are tax benefits, a moratorium period, lower processing fee, better interest rates.
With the right collateral, you can borrow up to INR 1.5 crore, eliminating the need to take two education loans.
My honest suggestion - check your loan eligibility on the GyanDhan website - GyanDhan > Loans > Check loan eligibility. An Education Loan Counselor will get in touch with you and discuss your loan needs. They will help you in the application process from start to finish. Our services are free of cost, so you won’t have to worry about shelling more money for financial advice.
I have a loan sanction letter of 35 Lakhs for my masters from US, 10 lakhs of fund as PF along with property worth of around 70-80 Lakhs but not much in savings account. Is this enough for F-1 visa approval financially? I-20 amount is 27 Lakhs.
Please suggest.
Hi @Mayank_Bhati
This is more than sufficient. Even if you just take the 35 Lakhs loan sanction letter you won’t be denied a visa on the basis of funds. For more information, you can also check out this video on visa interviews by one of the EX us visa counsel. Do watch the Q&A at the end:
Hi,
I have received admission in the Arizona State University for masters. My visa interview is scheduled for 27th May. My funding is managed by a partial scholarship and rest by education loan. Do you guys think it will be enough to persuade the Visa Officer?
Hi Anne,
Congratulations.
On your Visa regarding query. The Visa Officers generally look for an overall profile with some weight to financial aspects. It acts as a helping end in approval of the Visa.
It is a bit difficult to say for sure what should be enough to convince your VO. However, there are few must factors that should be given utmost importance.
The judgement of the visa officer
Many times it is possible that the officer might end up rejecting your visa application. It happens if he or she feels that the applicant has no mood of returning back to the home country. This might seem like a very vague ground on which you would lose your visa opportunity but then it is one of the biggest factors that the officer would take into consideration.
Finances
The fact that your academic credentials are outstanding doesn’t actually determine the fact that you will surely get your visa. One important factor which is taken into consideration is whether your financial situation is strong enough to cater to your needs of the future. This includes all your living expenses and tuition fee.
Body language, lousy conduct, and incorrect information
During the interview, make sure to communicate all the personal, financial, and past information to the officer. If you don’t do so, then you might end up losing the visa. Any kind of false information would end up getting you in trouble as the visa officers are damn serious when it comes to falsified statements.
You need to make sure of various variables to be able to convince the Visa Officer.
We have also written a few articles on the Us student visa process…
Hello,
I have an admit in Suny Buffalo for MS CS. My Visa interview is in few days. I have an education loan to fund my studies with no margin. Will this be enough to convince the VO?
Hi Writi,
Congratulations for the offer.
On your Visa regarding query. The Visa Officers generally look for overall profile with some weightage to financial aspects. It acts as a helping end in approval of the Visa.
There are many reasons as to why you might end up losing the chance of getting your visa for educational purposes. All in all this kind of a situation is pretty tough to take place but if it does, then here are some of the reasons as to why your visa might get rejected.
The judgement of the visa officer
Many a times it is possible that the officer might end up rejecting your visa application. It happens if he or she feels that the applicant has no mood of returning back to the home country. This might seem as a very vague ground on which you would lose your visa opportunity but then it is one of the biggest factors that the officer would take in consideration.
Finances
The fact that your academic credentials are outstanding doesn’t actually determine the fact that you will surely get your visa. One important factor which is taken in consideration is whether your financial situation is strong enough to cater your needs of the future. This includes all your living expenses and tuition fee.
Body language, lousy conduct, and incorrect information
During the interview, make sure to communicate all the personal, financial, and past information to the officer. If you don’t do so, then you might end up losing the visa. Any kind of false information would end up getting you in trouble as the visa officers are damn serious when it comes to falsified statements.
You need to make sure of various variables to be able to convince the Visa Officer.
We have also written a article on the do’s and don’ts for visa… However, the article is providing details regarding US student visa interview. It will give you a perspective on how to proceed.
Hello all,
I completed my engg. last year and currently working in Pfizer. I completed my engg with the help of education loan and the repayment is still in process. Now I want to pursue MS from abroad. So I wanted to know if I secure an admit, my previous education loan will create any issue in the new education loan process? If yes, then how can I overcome it?
Any suggestions?
Thanks in advance.
@Ritwika
Hey there,
I don’t think banks would have any problem with that. If you have an admit letter and fulfilling the terms and conditions of the banks. They shouldn’t deny. BTW I took help of @Gyandhan for my education loan requirement. I think they are better equipped to answer this query. Just ask the moderator of this forum.
All F, M, and J student visa applicants must now ensure accurate passport information when scheduling their visa appointment.
Crucial Note: Incorrect passport numbers will lead to appointment cancellations, resulting in the loss of visa fees. The Embassy emphasizes the need for precise passport information to prevent fraud and abuse of the appointment system.
This update is vital for international students planning to pursue education in the US. Whether you’re opting for academic studies (F-1 Visa) or vocational programs (M-1 Visa), ensuring accurate passport details is now a prerequisite for a successful visa application.