Thursday, July 8, 2010
STUDENT LOAN PROCESS
Credila has a student friendly education loan application process:
1. Student: To complete Credila's online Education Loan Application Form
2. Credila: To follow-up with the student & parents to answer questions
3. Credila: Representative visits your house & collects signed application form with the supporting documents
4. Student: To provide a completed Education Loan Application form with all the required supporting documents
5. Note: Students can apply to Credila for Education Loan even before confirmed admission or Form I-20 or before Visa
6. Credila: Credit team to review & underwrite the Education Loan application
7. Credila: To approve the education loan or ask for any additional information required
8. Student: To complete the education loan disbursment formalities by signing the education loan agreement
9. Credila: The education loan amount is deposited in the required bank account electronically
Why is USA a good option for higher education?
On discussing this question with nearly 200 students who have opted for higher education in USA, some of the distinct points which came out were that students felt that it was a good idea to top up a Bachelors degree with a Master’s degree. One of Credila funded students, Kalpak Kishor Karule who is doing his Masters in Science (Industrial Engineering) at the Oklahoma State University, USA says, “I'm doing Master's in Industrial Engineering and Management. I felt it as a good option to top up over my bachelor's degree in Mechanical Engineering. Basically, its an intermediate option for a Master's course in Business and Engineering.”
Regarding the question of why choose the USA for higher education, Kalpak says that USA provides higher standards of education and has some of the world’s best campuses which are affordable, flexible and give a wide array of subject choices. Adding that Oklahoma State University is better than many others, Kalpak is now earning his living by taking on campus jobs.
“I choose USA for higher education because out of fortune 500 companies there are almost 400 companies in USA, there are substantial number of companies in USA also due to the latest technologies, knowledge and the functionality.” says Arunkumar Ranganathan who is doing his MBA in International Business from the Thunderbird School of global Management.
Echoing the same belief parents are unanimous in their view that their children will benefit from an education abroad, especially US. Since most parents worry primarily about their children’s future, it is natural for them to want to give the best for them. However, more often than not, finance becomes a huge constraint and parents are forced to take a back seat and choose either mediocre universities in India or easy courses for their children. This is extremely defeating as with this one move, they are sentencing their children to a life of mediocrity where children have to continue to exist in average financial conditions.
A decade ago, education abroad was a dream of the rich but today, with Credila providing easy education loans, people from middle class families can help their children achieve their dreams of a global education.
Summarizing the job and surprise at how developed a student has become after going abroad, Mr. Harin Trivedi who is the fact of Karan Trivedi pursuing his M.S. in Industrial Engineering at the University of Southern California says, “I was surprised that I could see my son presenting projects, his slide presentations, explanations live on the Internet. I am amazed at how much exposure he is getting and I am happy I made the decision to help him go abroad!”