Hi, I have got an admit from lehigh University and have completed the oan process will my loan interest rate go down? Also, I am thinking of defering the admission in case the university decides to shift the classes online. So would I have to start the entire process of loan again ?Also will I get my processing fees back? Like can I claim the processing fees in case of deferment?
Will all the universities(US) defer the admission if the situation wouldnât get better by June-July. If that happens then Will it be a problem to the people who are planning for FALL 2021, if maximum of students who already received an admit defer their admission to the next year?
Hi, I got admit from UK University with 1 year study + 1 year industrial experience. I heard your views on Ireland situation so will it be same in case of UK?
What are your views on industrial experience, will it be difficult to grab an internship opportunity after the course ?
Course : data science.
Hi,
I have updated my question, with the country details.
Could you please check and answer?
Hi Team, thanks for taking this up.
Since you guys have already mentioned that everything is uncertain in the future, if colleges are going online for the first semester, this might mean that things are yet not settled in the US (as I am planning to go there). So in this case getting internships would also be difficult, if we are going in December - Jan for 2nd sem, right?
So overall, I feel that deferring is better than taking the online course.
Would be great if you can share your views on this front.
Thanks in advance.
I have an admit from NYU Courant for MS in Computer Science. The university has mentioned that they are expecting an on campus fall 2020. Considering the oncoming recession and covid 19. Will it better to wait?
- The I20 amount for the program is around 74k. Do I need to show a solvency of 74k USD or can I get a pre approved loan? Will National Banks provide pre approved loans?
Who will be given priority for the admissions for Fall 2021? The oneâs who will be defering admission right now or the fresh applicants applying for Fall 2021?
Hi,
My question is regarding the visa process.
Iâm planning for fall 2020 in US. Considering the current situation, are there chances for more visa rejections ?
Also, if one is planning to defer to next year / apply for fall 2021 does that mean fall 2021 is going to be more competitive ?
Just missed your answer on deferral process. When we defer, is our seat simply reserved for next year or are we supposed to apply again next year and compete again?
I am still in the process of loan sanction. Like I am taking loan from a bank, they have done land evaluation. What should I do. Shall I continue the process or wait few months. Will my interest increase if I wait for few more months since loan isnât sanctioned yet?
Replying on behalf of the speaker -
It generally means ensuring the seat but as mentioned at the start of the webinar, Arizona State University is asking its students to drop the offer rather than deferring the semester and reapply. They would retake the decision based on the next yearâs application.
It generally means ensuring the seat but in the current scenario it totally depends on the university and the number of persons opting for the deferment. It may require a student to reapply.
Replying on behalf of the speaker -
A student may get a loan exceeding Rs.50 lakh from public sector banks. Public sector banks ask for collateral if the amount exceeds Rs. 7.5 lakhs. Approval for loan without collateral is going to decrease for sure. So, if your question is regarding loan with collateral then it wonât have much impact. Also, the amount you are looking at is at the higher side, so it is recommended that you go for a loan with collateral.
Replying on behalf of the speaker -
If you are deferring from July to November, it is just 3-4 months. Most sanction letters are valid for six months, the student can opt for the disbursement with the same loan. If the loan letter expires, the student may need to reapply for the loan, which would be evaluated again by the bank according to fresh terms and conditions.
Most Australian universities ask for the amount to be paid upfront. If you donât want your loan to get expired then you can get the disbursement upfront. The student may get a part of the money disbursed for the payment. In this case, interest needs to be paid for a longer period of time.
Replying on behalf of the speaker -
Yes. HDFC Credila is the oldest player in the market. Credila is a separate entity with investment from HDFC. Credila is a large loan sanctioning player, and the magnitude of impact on the loans sanctioned by them would be comparatively low. Their loan approval rate would not be much affected.
Replying on behalf of the speaker -
We have a separate thread for this purpose on the discussion forum with a separate name. You can refer to the updates on the thread. Follow that thread for the updates. Our research team is constantly working on the updates and we keep adding any updates we come across.
Link to the thread --> Covid -19, Update by Universities For Fall 2020 Aspirants
Replying on behalf of the speaker -
If the loan is sanctioned by nationalized banks, there is no need to worry about a rise in interest rate as that would not happen in any situation. It is recommended that students should not take loans with security from private banks or NBFCs. The interest rate would be low and a low chance of interest increasing. The sanction letter from the nationalized bank is valid only for six months. So if you are planning to go for Fall 2020 and the classes start in October/November, the student shall get some degree of safety in disbursement.
Replying on behalf of the speaker -
Sorry, we do not hold any updates for that university currently. We are working on it and will release the details soon.
Replying on behalf of the speaker -
Sorry, we do not hold any updates for that university currently. We are working on it and will release the details soon.
Replying on behalf of the speaker -
It depends on your aim and the target industry. The US is better for engineering and tech-related industries. The UK has a more student-friendly policy for granting post study work permits. It specifically depends on the type of industry the student opts for. It is independent of the current global scenario, as both the countries are equally affected in the Corona-virus crisis.
Replying on behalf of the speaker -
Getting the sanction done from the US is a bit difficult as compared to getting it when you are in India. It requires the student to sign a document called the âpower of attorneyâ, in which you need to grant the signatory rights to somebody in India (parents/siblings). Other documents required include financial documents such as the co-applicant ITR, ITR documents and the financial statement for re-sanctioning. The US co-applicant should preferably be a green card holder.