Education is the key to professional success and is treated as an investment by parents who are willing to run an extra mile to give their child the best education. In recent years, education has been globalised which has increased awareness of the world’s best institutes or even the fact that undergrad and graduate education can be done aboard.

This simple awareness has resulted in more Indian students going to various countries for education; be it for graduate courses or post-grad courses. Studying abroad is expensive and at times the cost can be as high as six-times that of the cost in India and hence planning needs to be done to ensure that sufficient funds are available when needed. This is essential because to apply for the student visa, you need to show sufficient proof of funds to cover the first year of education.

In 2009, India ranked number 1 (103,260 students) among the international students studying in the US. When pursuing education abroad, the first thing that comes to your mind is an education loan. But even before an investor opts for an educational loan, make sure to pursue the university/college funding option.