Are there loan options available for studying abroad and how do collateral and non-collateral loans work?

Yes, loan options are avaialble for studying abroad and students can apply for both collateral and non-collateral education loans for studying abroad. Collateral loans are secured against assets such as property, fixed deposits, or other acceptable security. These loans generally offer slightly lower interest rates and higher loan amounts. Loan sanction amounts would also depend on the current market value of the security. Non-collateral loans do not require security, but approval depends more heavily on your academic profile, university, course, and co-applicant financial strength. These loans often have higher interest rates and stricter eligibility criteria.