Education Loan

Avanse Dollar Loan: No Collateral or Co-Applicant Education Loan

Avanse Dollar Loan: No Collateral or Co-Applicant Education Loan

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Learn how Avanse Dollar Loan offers up to 100% financing for international students without needing collateral or a co-applicant. Quick approval and flexible repayment options available.

GyanDhan
Ananya Ghai
Updated on:  13 Sep 2024 | 363 | 21  min read

Ever wondered about a student loan for your education overseas without needing collateral or a co-applicant? Surprised? Well, it is totally possible with the brand new Avanse Dollar Loan—designed specifically for students who wish to pursue education abroad but lack a co-applicant or collateral. Keep reading to learn about Avanse's global finance dollar loan features, the application process, the documents required, and more.

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What is Avanse Dollar Loan?

Avanse dollar loan is an education loan that does not require the borrower to pledge collateral against the loan amount or a financial co-applicant with a good CIBIL score and monthly income. This unsecured loan option is tailored for students pursuing STEM or MBA courses from a pre-approved list of institutions only. Avanse approves this loan solely focusing on the student’s academic profile, employability potential, and the institution's reputation and course they are applying.

Features STEM Courses MBA Courses

Loan Amount

USD 19,000

USD 1,21,000

Interest Rate

10.50% - 13.50%

11.00% - 14.00%

Moratorium Period

Course Duration + 6 Months

Course Duration + 6 Months

Repayment Tenure

15 Years

15 Years

Repayment During Course

EMI, Simple Interest, Partial Interest (USD 65/month)

EMI, Simple Interest, Partial Interest (USD 65/month)

Processing Fees

Up to 4% + Taxes

Up to 4% + Taxes

 

Check loan eligibility for study abroad

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Avanse Global Finance Dollar Loan Eligibility Criteria

To be eligible for the Avanse global finance dollar loan, the applicant must fulfill the following eligibility criteria -

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    The applicant must be an Indian citizen. 
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    The applicant must be over 18 years of age.
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    The applicant must have secured admission to a chosen course should be either from the STEM or MBA niche. Please note that the admission must be confirmed before the final disbursement. 
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    The chosen institute must be from Avanse’s pre-approved university/college lists. 
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    Avanse dollar loan does not require a co-applicant. However, a co-borrower is a must. A co-borrower can be a student’s parents or siblings. The co-borrower has no financial obligations towards the education loan.
 
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 Avanse Dollar Loan Features 

The Avanse dollar loan is an education loan that tags along several benefits and features. Some of them are mentioned below -

 

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    No Co-Applicant or Collateral Required:

The biggest advantage of the Avanse global finance dollar loan is that students can get an education loan without a co-applicant or collateral. This feature allows students to achieve their education goals with adequate financial backing even if they do not fulfill the eligibility criteria of traditional banks and NBFCs.

 

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    Expenses Covered:

The Avanse dollar loan covers up to 100% of the expenses including tuition fees, living expenses, and any additional costs like study materials and travel.

 

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    Quick Processing:

With Avanse's fast-track loan approval process, students can receive funding in three to seven working days, making it an ideal solution for those facing tight deadlines for tuition payments.

 

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    Flexible Repayment Options:

Under the Avanse dollar loan scheme the repayment period is spread over 15 years. Additionally, the scheme also comes with a moratorium period of course period plus 6 months where the borrower has to make simple interest or partial simple interest payments.

 

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How to Apply for an Avanse Global Finance Dollar Loan

Interested candidates can apply for the Avanse dollar loan directly through the Avanse website. Those who are looking for a straightforward process can connect with GyanDhan. The application process includes the following steps -

 

Step 1 - Check your loan eligibility.

Step 2 - Fill out the online application form available on Avanse's official website.

Step 3 - After submitting your form, a loan consultant from Avanse will reach out to guide you through the required documentation and next steps. If you apply through GyanDhan, you will be connected with a dedicated education loan counselor. The counselor will fill out the form for you and then provide you with a customized document checklist

Step 4 - Submit the necessary documents, admission letter, previous academic transcripts, and personal identification.

Step 5 - Once the paperwork is complete, Avanse processes the loan swiftly, typically approving it within three working days.

Step 6 - Upon approval, the loan amount will be disbursed directly to the institution or your bank account as required.

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Eligible Universities for Avanse Global Finance Dollar Loan 

The Avanse dollar loan comes with a pre-approved list of universities and colleges. This no collateral and co-applicant education loan is eligible only for STEM and MBA courses for selected universities only. Below is the list of approved universities for STEM courses and MBA courses.

Eligible STEM  Eligible MBA Institues

Princeton University

Princeton University

Massachusetts Institute Of Technology (MIT)

Massachusetts Institute Of Technology (MIT)

Harvard University

Harvard University

Yale University

Yale University

Stanford University

Stanford University

University Of Chicago

University Of Chicago

University Of Pennsylvania

University Of Pennsylvania

Johns Hopkins University

Johns Hopkins University

California Institute Of Technology

Duke University

Duke University

Northwestern University

Northwestern University

Dartmouth College

Dartmouth College

Brown University

Brown University

Vanderbilt University

Vanderbilt University

Washington University In St. Louis

Washington University In St. Louis

Rice University

Rice University

Cornell University

Cornell University

Columbia University

Columbia University

University Of Notre Dame

University Of Notre Dame

University Of California - Los Angeles

University Of California - Los Angeles

University Of California - Berkeley

University Of California - Berkeley

Emory University

Emory University

Georgetown University

Georgetown University

Carnegie Mellon University

Carnegie Mellon University

University Of Michigan - Ann Arbor Campus

University Of Michigan - Ann Arbor Campus

University Of Virginia

University Of Virginia

University Of Southern California

University Of Southern California

New York University

New York University

University Of Florida

University Of Florida

University Of North Carolina - Chapel Hill

University Of North Carolina - Chapel Hill

Georgetown University

Wake Forest University

Tufts University

Tufts University

University Of California--Santa Barbara

University Of California--Santa Barbara

University Of California, San Diego (UCSD)

University Of California, San Diego (UCSD)

University Of California—Irvine

University Of California—Irvine

Boston College

Boston College

University Of California-Davis

University Of Rochester

University Of Texas-Austin

University Of Texas--Austin

University Of Wisconsin-Madison

University Of California--Davis

College Of William And Mary

University Of Wisconsin - Madison

Boston University

Boston University

University Of Illinois-Urbana-Champaign

University Of Illinois - Urbana Champaign

Georgia Institute Of Technology

College Of William And Mary

Brandeis University

Georgia Institute Of Technology

Case Western Reserve University

Brandeis University

Tulane University

Case Western Reserve University

Northeastern University

Tulane University

University Of Georgia

Northeastern University

Ohio State University-Columbus

University Of Georgia

Lehigh University

Ohio State University

Purdue University

Purdue University - West Lafayette

Villanova University

Lehigh University

Rensselaer Polytechnic Institute

Villanova University

Pepperdine University

Rensselaer Polytechnic Institute

University Of Washington

Pepperdine University

Florida State University

Florida State University

Santa Clara University

Santa Clara University

University Of Miami

University Of Miami

Rutgers University-New Brunswick

University Of Maryland, College Park

University Of Maryland, College Park

University Of Washington

Syracuse University

Rutgers University, Suny--New Brunswick

University Of Pittsburg

University Of Pittsburgh

George Washington University

Syracuse University

University Of Minnesota

George Washington University

Virginia Polytechnic Institute And State University

University Of Minnesota--Twin Cities

University Of Connecticut

Virginia Tech

Worcester Polytechnic Institute

University Of Connecticut

Texas A&M University-College Station

Worcester Polytechnic Institute

University Of Massachusetts-Amherst

Texas A&M University College Station

Yeshiva University

University Of Massachusetts--Amherst

Fordham University

Yeshiva University

Indiana University-Bloomington

American University

Southern Methodist University

Fordham University

American University

North Carolina State University

North Carolina State University

Trine University

Trine University

Indiana University - Bloomington

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Southern Methodist University

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Why Choose Avanse Global Finance Dollar Loan Over Traditional Loans?

Unlike conventional education loans, the Avanse dollar loan does not impose the heavy burden of finding a co-applicant or providing collateral. This means students have a much more straightforward path to securing funding for their education. The loan also stands out for its quick disbursement, making it ideal for students with tight application timelines.

The Avanse Dollar Loan is a revolutionary financial product that makes studying abroad accessible to more students than ever before. By eliminating the need for a co-applicant or collateral, Avanse is empowering students to pursue their education dreams without the financial constraints of traditional loans. With quick processing, flexible repayment plans, and 100% financing, this loan is a perfect fit for students looking to study abroad with minimal hassle.

 

To start your educational journey with GyanDhan, check your loan eligibility now!

 

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Frequently Asked Questions

What is the Avanse Dollar Loan?
 

Avanse Dollar Loan is a specialized loan offered by Avanse Financial Services for students who need funds in USD to pay for education abroad, ensuring a straightforward process for international fee payments.

Who is eligible for the Avanse Dollar Loan?
 

Students pursuing higher education abroad, particularly in countries like the USA, are eligible. Please note, that only STEM and MBA programs are eligible for the Avanse dollar loan. 

Is collateral required for an Avanse Dollar Loan?
 

No, the Avanse dollar loan does not require collateral or a co-applicant. 

How is the loan disbursed?
 

The loan is disbursed directly in USD to the educational institution, ensuring timely payment without foreign exchange risks or conversion delays.

What are the repayment options for Avanse Dollar Loan?
 

Repayment typically starts after the course is completed with a flexible repayment schedule. Avanse offers EMI-based repayment options with a tenure suited to the student's financial situation. The repayment tenure is 15 years. 

What are the processing fees for the Avanse dollar loan?
 

The processing fee is 4% of the loan amount plus taxes.

 

Check Your Education Loan Eligibility


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