How easy or difficult it is for an Indian parent to get student loans from Indian banks?
It is very easy because Indian nationalised banks are very open on study abroad loans. As long as you have a valid admission letter, commonly known as the I-20, a student can get a loan for US studies. Please note that financial requirements for the US are less as compared to other countries like Canada [ Images ], Australia or the UK. In most other countries you have to show the liquid (cash) money for the entire study period. On the other hand, for the US the government regulations say you just have to show funds only for the first year. However, you are required to prove that your family has a good source of income to finance the subsequent years of your study. Another pertinent point is if you have relatives in the US, or even in India for that matter (third party funds), they can show funds for you. So, US education is ‘equally affordable’? Absolutely. First in terms of costs — education in the US is as affordable as in any other part of world. Secondly, in the US on-campus work
