Category Archives: Education loans for studies abroad

Why Santamonica Study Abroad is your overseas education consultant?

It’s been a great journey, indeed.


Since 2002  Santamonica Study Abroad is helping students realize their overseas education dreams.  Our relentless pursuit of quality education has taken us places, made us one of the most trusted overseas education consultants in Kerala. We are proud to acknowledge the fact that today we are the authorised representative for over 500 universities consisting of 30 countries. Santa Monica’s staff are regularly trained by the universities to offer guidance to the students properly & professionally.


How we offer our services is our USP and gives us our competitive advantage. Every student/aspirant is considered and treated for the person he/she is, his/her skill sets and ambitions.  So when a student comes to us, our initial step is to analyse the profile of a student , their previous academic records, passion, ambition & their subject of interest. Most of the students will be aware of only about some conventional courses. It is the duty of our career counsellors to provide the students with the required details of various courses offered overseas.


Most of the time a student will be unsure and confused about what program to take or which course to pursue. In such cases, we enlighten them with courses of their interest after studying and analysing their interests and passion. There are many career-oriented unconventional courses offered in the developed countries which our students are not aware of. Course selection is done only after enlightening the students with the career prospects of each and every course.


Once the course selection is done, we encourage the students and their parents to do some research on their own. They are advised to investigate courses, universities and their locations. They are encouraged to look into the teaching modules, research opportunities, campus life and employment prospects before they narrow down to their choice. Candidates can ask friends and family or reach out to the alumni of universities they are interested in for a wider perspective.


Next step is to register the student for the admission process. We forward the application and help them with the admission process. Once the admission procedure is over, we will pass onto their Visa application.  Our visa documentation team helps the student with the necessary documentation.


Next step is to guide and prepare students for visa interviews and guide them in preparing a statement of purpose. We discourage students to go into any fabricated details as a fabricated document will lead to a ban or visa rejection which many are not aware of. If there is a gap in their academic records, we help them to write an effective explanation with all the necessary documents.


 Once the visa is obtained and the student gets an offer letter, then the question of procuring a student education loan emerges. We assist students in procuring a loan. As we have tie-ups with many of the leading banks in India, loan approvals get easy. This service has fetched Santamonica lots of excellent reviews and many students & their parents are grateful for guiding them properly.


Travel is the next important thing to be sorted out. We have a fully equipped travel desk to arrange your travel and accommodation at the destination according to the student’s choice. This may include Airport pick up and assistance. These facilities are arranged by Santamonica and payment should be made there directly. If a student, after joining a college wants a  relocation either from the college or from the province, Santamonica can assist in that case also.


Another attractive service that we offer is our travel agency- a sister concern of Santamonica Study Abroad consultancy. We book tickets for our clients at a very subsidised rate especially for students as we are aware of the additional expenses.  Not only that we assist in the travel plans of parents or family members who want to travel later on to meet their ward/relative, but we also make sure that our client’s travel is smooth and hassle-free.


Team Santamonica owes its success to their unwavering dedication, ethics, professional practices, continuous investment on staff training, use of state of the art technology and above all to its ‘’client first’’ policy”.


Yes. It has been an amazing journey!



About Ms. Nicy Binu, Director, Santamonica Study Abroad


With over a decade’s experience in international education, Ms Nicy Binu is the brain behind Santamonica’s overseas student program and has steered the organization to a position where it figures today among the prominent overseas education facilitators in India. You may contact her at +91 6282 903 703 for overseas education queries and doubts.




With well-informed parents and children settling for nothing short of the best education possible, the number of students embarking on overseas studies is increasing day by day. Technological changes and growth of the internet has brought top notch universities/ institutions around the globe closer to us than never before. It is a common sight to see scores of students, visiting seminar venues and overseas education expos accompanied by their parents, with palpable excitement of finding a course abroad that fits their interests and aspirations. However it is observed that, many students, who seem highly positive about embarking on international studies, drop their plan at the funding stage.

Though higher education does not come cheap by any means, considering this as a long term investment with high returns and relatively easy availability of education loans there is no point why one should end his /her overseas education dream for the paucity of funds when overseas education loans range generally from Rs 7 lakh to Rs 35 lakh and more, in case of certain banks. The main hindrance observed here is the lack of information or misinformation regarding the process involved in securing education loans. Banks have well-defined criteria for sanctioning loans and knowing about them can reduce your effort by atleast half. The first things are with regard to the eligibility criteria, which stipulate that the student seeking educational loan should be Indian national and that he/she should have secured admission to foreign university/institution.

Generally what is covered with an education loan?

• Tuition and library fee

• Laboratory fees, cost of books and instruments required during the course,

• Airfare, living expense, insurance premium etc

What is the usual payback period?

The loans are offered with a moderate interest rate allowing enough time to pay back (normally over a period of 5 to 7 years) after one year of studies or six to twelve months of getting employed, based on various factors and subject to providing security Interest rates .Banks offer a choice between fixed andfloating rate which can vary between 10% and 15%.

What are the documents required?

•Passport size photographs,

•Photo-ID of the co-applicant if any,

•Residence proof of the applicant and co-applicant,

•Academic documents of the student

•Proof of admission to the course

•Scholarship/foreign exchange permit

•Estimation of expenditure of entire period of study

•Financial documents which include 8 months’ bank statements of the applicant  and co-applicant, income proof, proof of  collaterals – Immovable property (flat, House, non-agricultural land), etc

Things to keep in mind for hassle free educational loans

• Decide the amount of loan on the basis of your total course fee and expected living cost.

• Choose a bank that will provide the best moratorium period, interest rate and terms to pay back the loan.

• Check if you are allowed to pay EMIs in advance or make part payments towards the loan. Know about all the service charges that are applicable on your loan.

• It is ideal for students to avail education loans from nationalized banks which are recognized by immigration authorities in countries like UK, Canada, New Zealand, etc also because education loans taken from a private or government banks come with tax benefits under Sec 80-E of the Income Tax Act.

• One should, without fail, keep a record of all copies received from banks related to education loan.

These details are to be taken as a general rule followed by the banks and are subject to change from bank to bank and from time to time.

We at Santa Monica Study Abroad provide credible advice, assistance in education loans owing to its status as a   referral  associate  of  banks who readily offer loans to students who plan to Study Abroad.For more info kindly visit your nearest branch of Your most trusted Overseas education consultant in south India or call 0484-4140999