Category: Education

Is it money that stands between you and your dream of earning a foreign degree? The easiest available solution for this problem is bank loans. These days, most students who plan to study abroad depend on bank loans to meet the cost. Considering the fact that a foreign degree is a great investment for the student’s future, depending on education loan for abroad studies is not a bad idea either. But there are certain matters and facts you have to keep in mind before going ahead with obtaining education loans for overseas education. This blog will help you to get a basic idea about availing education loan for abroad studies.

Check your eligibility

While selecting the loan scheme, you must also check the eligibility criteria for availing education loan for abroad studies set by different banks. Check if you can avail education loan for the course you have chosen. The banks usually check the reputation of the educational institution you have chosen and whether the course is short term or long term. So, it is better to have a clear idea about the requirements for applying for education loan for abroad studies.

Read documents thoroughly

Before signing the agreement for education loan for abroad studies, you must read it thoroughly in order to avoid future regrets. You must have clearly understood the interest structure, conditions for pre-payment or extending in case you didn’t get placed soon after the studies. You should clear all your doubts regarding various clauses of the loan agreement before signing the agreement.

Co-applicant and payback time

Usually, if you are availing an education loan above Rs 5 lakh, you will need a co-applicant or co-signer. The co-applicant or co-signer, mostly a parent, will sign the loan agreement. He/she will be responsible to repay the loan amount if you fail to do so. Normally, banks give a period of five to seven years to pay back the loan after one year of studies or six months of getting employed.

Costs covered

• Educational loan for abroad studies may cover:
• Tuition fees
• Room and board fees
• Health insurance fees
• Charges for examination, library, laboratory and hostel
• Cost of purchasing books, equipment, instruments and uniform
• Travel expenses including flight ticket
• Caution money, refundable deposit, etc.
• Study tours, exchange programs and project work

Documents required

In order to apply for education loans for abroad studies, you will need documents including:

• ID and Residence proof of the applicant and co-applicant
• Offer letter or proof of admission to the study program
• Passport size photographs
• Bank account statement
• Telephone bill/water bill/electricity bill
• Signature proof
• Passport copy
• Scholarship documents, if any
• Estimation of expenditure during the entire period of study
• Documents for collateral security if needed

Part-time Work in Canada for International Students

For international students in Canada, especially those from developing countries, the option to work part-time while studying is a great blessing. Although students must submit proof of sufficient funds to meet their study and living costs, working part-time benefits them in many ways; including:

• Gaining Canadian work experience, which can be an added attraction to their CV
• Getting extra spending allowance while living in Canada
• Establishing contacts and strengthening their network, if they are planning to obtain Permanent Residence Status
• The business contacts they establish may help them at the time of immigration
• A part-time job can turn into a full-time permanent position

Part-time Work Options

Working off-campus:

Under Off-campus Work Permit Program, a student can work up to 20 hours a week during regular academic sessions and 40 hours a week during holidays and spring break. To be eligible to work off-campus, the student must:

• Be a full-time student with a valid study permit
• Have a Social Insurance Number(SIN)
• Be enrolled at a Designated Learning Institution(DLI) at post-secondary level
• Be studying in a vocational program (if he/she is living in Quebec)
• Be enrolled in a program to obtain a degree, diploma or certificate

Work on-campus:

To work on campus, the student:

• Does not need to have a Social Insurance Number (SIN).
• Can work more than 20 hours a week.

Co-op/Internships:

Co-op/Internship Work Permit Program is meant for international students who have to take up employment as part of their study program in Canada. The work portion of such programs of study is sometimes 50 percent of the study program.

Types of jobs

Students have numerous options when it comes to part-time work including:

• Bookkeeper
• Customer Service Assistant
• Sales Assistant
• Office Assistant
• Painter
• Cook
• Educational Interpreter
• Lifeguard

On an average, the rate of pay is CAD $10 per hour.

Guide for Part-Time Work in Canada

• It is ideal to choose a job that is related to the field of your study program.
• You have to be careful when choosing your job, as it may have an impact on the kind of job you will get next.
• Try to impress your employer while working part-time as it can benefit you in the future when trying to find a job after completing your studies.

Study in Sweden, the Best Place to Obtain a Degree in Technology

Sweden, a major technology hub in Europe, is becoming the best place to obtain a degree in technology. Stockholm, the country’s capital, houses more than 20,000 technology companies. It is not surprising that around 18 percent of Stockholm’s workforce belongs to the technology field.

Best Universities in Sweden

The universities in Sweden offer some of the world’s best Engineering and Technology courses. Eight Swedish universities have been featured in the QS World University Rankings 2017 for Engineering and Technology.

Part-Time Work Options for Students

In Sweden, there are no restrictions on the hours a student can work part-time. A student is not required to have a work permit to work while studying; students can take up full-time job opportunities as well. Some students earn up-to 5,000 SEK (USD 600) per month. The only condition to working in Sweden is that the student must dedicate a minimum of 40 hours a week for studies.

Job openings are often displayed at universities and in libraries.

Residence Permit Extension

Students can apply for an extension of their residence permit to find employment after completing their course in Sweden. The residence permit can be extended for a maximum period of six months. The conditions for extending the permit include:

• The student must be holding a valid passport.
• The student must have completed a course with a duration of at least two terms which means students enrolled in short-term courses are not eligible for the extension of their residence permit.
• The student must prove that he/she has completed the course.
• The student must be staying in Sweden at the time of application.
• The student must demonstrate proof of sufficient funds to support his/her stay in Sweden.
• The student must have health insurance.

Study in Sweden, Popular Engineering and Technology Courses

Some of the most popular technology courses offered by Swedish universities are listed below: