EduFund Blogs

In the previous article, the focus was on education inflation and its impact on our savings. This article will discuss how to break free from debt. Debt, this dreaded four-letter word, is a nightmare for most people. However, everyone has a debt of some kind, whether credit card debt, student debt, home mortgage, personal debt, or more.   Debt is an unavoidable part of life. Dealing with debt often leads to stress and anxiety and can impact your physical health. There are both good debts and bad debts. The debt that creates a valuable asset (tangible or intangible) for you is good debt.   Debt that keeps on exerting negative pressure to pay off is known as bad debt. You need to remove this bad debt to live a stress-free life. How do you break free from debt?  Here is a step-wise guide to help you break the vicious cycle: Assess your situation: To get out of the debt trap, you must know where you stand. Check all your accounts and add up your liabilities (all types) to know how much you owe and to whom. Calculate your net worth by subtracting your liabilities from your assets. This will help you know your worth on paper.   Know where you spent your money: It is important to categorize your expenses into housing, transport, food, travel, miscellaneous, and debt. An example of a bad monthly budget is where the debt is almost equivalent to income. You need to get your basics of spending right as your first step.   Improve your budget: When you don't follow the rule “Spend less than you earn” that's how your debt problem arises. Living below your means is a very important thing that one should take care of to avoid getting into a debt cycle or when trying to get out of it. Unless you manage to spend less than you earn, you will always be in debt and never be able to come out of it.   Pay off your high-interest debt in full every month: Your credit card bills keep on mounting because you do not pay them in full every month. It happens because you take on more interest-bearing debt than you can manage. Paying off your credit card bills and other debts very religiously every month will do good for your credit score and will be a good step to lighten your debt burden.   Source: Pexels Some effective ways to reduce your debt  Use the snowball effect: Start paying off your small debts and then tackle the bigger ones. Put as much money towards paying that one small debt, and once it is done with, the free money from that shall go to the next big one. As you proceed with wiping out debt, the amount going to the current payment will increase. Another way is to tackle the highest interest debts first (to save on interest payments) and proceed.   Pay more than the minimum amount: You pay both the principal and the interest when paying down debt. So, paying more than the minimum for a particular month means cutting the principal for the next month and thus, saving money on interest payments.   Increase your income: An increase in your income will solve half your debt problems if you know how to channel your money. An increased income from the same work or a new income from a different income source will leave more money in your hands to get out of that unwanted debt you are in. You have to help yourself in this regard. FAQs What are 3 ways to eliminate debt? The 3 ways to eliminate debt are: Budgeting, increasing your income, and paying your debt on time without accruing more interest. What are the 5 ways to get out of debt? The 5 simple ways to get out of debt are: Listing your debt obligations, creating a budget for repayment, increasing your income and paying your debt on time without accruing more interest and finally reducing your daily/miscellaneous expenses to create space for savings and investing. What are the 5 golden rules for managing debt? The golden rules for managing debt are: Budgeting your expenses and debt, actively generating more income and wealth, paying your debt on time without any delays or additional interest, reviewing your spending habits, and avoiding future debt traps. How do I clean up my debt? Stepwise guide to help you break the vicious cycle:   Assess your situation   Know where you spent your money   Improve your budget   Pay off your high-interest debt in full every month   What is the best solution for debt?   Start paying off your small debts and then tackle the bigger ones. Put as much money towards paying that one small debt, and once it is done with, the free money from that shall go to the next big one. As you proceed with wiping out debt, the amount going to the current payment will increase. Another way is to tackle the highest interest debts first (to save on interest payments) and proceed.   How to live a debt-free life? When you don’t follow the rule “Spend less than you earn”, that’s how your debt problem arises. Living below your means is a very important thing that one should take care of to avoid getting into a debt cycle or when trying to get out of it. Unless you manage to spend less than you earn, you will always be in debt and never be able to come out of it. How can I recover from debt fast? It is important to categorise your expenses into housing, transport, food, travel, miscellaneous, and debt. An example of a bad monthly budget is where the debt is almost equivalent to income. You need to get your basics of spending right as your first step.     Consult an expert advisor to get the right plan for you TALK TO AN EXPERT

In this article, we will discuss direct mutual funds vs growth mutual funds. We'll try to understand what they offer in terms of risk and return and their composition.  Growth mutual funds As the name suggests, growth mutual funds invest in stocks of companies that have the potential to grow rapidly, thereby outpacing the market.   The main aim for investment in a growth mutual fund is capital appreciation, for which investors do not receive any dividends because the earnings are used as reinvestments in the company.   With high returns, growth mutual funds also bring about asymmetric risks. So, growth mutual funds are more suited for investors with a high-risk appetite.   Investors with a conservative approach and those with less knowledge of the market should keep away from these investments.   Growth mutual funds are highly volatile. The value of the investment might fluctuate widely, especially during market corrections.  In terms of taxation, these funds are subject to a long-term capital gains tax of 10% on profits over 1 lakh rupees (for investments held for more than one year).   Investment in growth funds allows you the diversification of companies that can multiply your money in a shorter amount of time.  Direct mutual funds On the other hand, direct mutual funds were introduced by SEBI (Securities and Exchange Board of India) in January 2013.  The direct mutual fund plans aim to eliminate mediator involvement by channeling your money into the fund. The absence of a mediator will add to your responsibilities as a buyer to do good research about your buying fund.   Because the transactions are done directly, the commission is absent, and as a result, the expense ratio for direct mutual funds is lower than the regular plans.   The lower expense ratio acts as a bonus for the investor, saving them the cost. However, people usually avoid direct mutual funds owing to a lack of research & awareness and end up paying a higher expense ratio (usually higher by 1 percent) and hurting their returns in the long run.  Source: Personalfn In the figure above, we assume that a fund generates 12% CAGR, then Rs. 1,00,000 lakh invested in a direct fund would amount to Rs. 3,47,855 after ten years and Rs. 3,23,073 in a regular fund we see a big difference of +7.7%. In the long term, the difference is non-ignorable.  Now, to say which one is better than the other is difficult. It depends on your willingness to spend time on what you do and your risk appetite. Use your due diligence to make your investment. FAQs What are growth mutual funds? Growth mutual funds invest in stocks of companies that have the potential to grow rapidly, thereby outpacing the market.   The main aim for investment in a growth mutual fund is capital appreciation, for which investors do not receive any dividends because the earnings are used as reinvestments in the company. What are direct mutual funds? Direct mutual funds were introduced by SEBI (Securities and Exchange Board of India) in January 2013.  The direct mutual fund plans aim to eliminate mediator involvement by channeling your money into the fund. The absence of a mediator will add to your responsibilities as a buyer to do good research about your buying fund. Is the expense ratio for direct mutual funds less than regular? Yes, because the transactions are done directly and the commission is absent, the expense ratio for direct mutual funds is lower than the regular plans.  

The 30s are very crucial for you as an investor. In this article, we will try to understand the best way to start investing in the 30s.   Steps to take before investing   1. Create an emergency fund The first and foremost thing you need to do is create an emergency fund that will assist you in times of urgent need. Ideally, the emergency fund should be equivalent to 6- 8 times your monthly expenses.    2. Become debt-free Tension-free and full-fledged investments are possible when you are not reeling under your loans. In the case of personal loans like credit card bills, try to clear them off on or before the due dates.  What should be your investment strategy?   1. Align investments with life goals The 30s is that juncture of life where you have a lot to do ahead –in terms of responsibility and achievement. For this reason, you need a detailed time log of what you intend to do in the upcoming decades before you define your investment strategy. In general, some big-ticket expenses are your marriage, your kids’ future studies (maybe 15 years later), and planning your retirement. At this age, your portfolio should have a subtle combination of equity and debt to suit your long-term goals.   2. Beating inflation In your 30s, you still have time to get rich and enjoy the luxuries of life. So, you should put the investible money into assets that will beat inflation. Inflation is your enemy so treat it like one, and thus, do not invest your money (for growth purposes) into assets that do not even match inflation such as FDs and savings bank accounts. You should aim at investing in stocks and mutual funds or even real estate (if you have the proper knowledge and guidance).   3. Do not fear risk At this time of life, the risk is synonymous with living in terms of a career or investments. Risks depend on your appetite; if you wish to obtain asymmetric returns, you have to take asymmetric risks. However, you must have the potential to manage the risk (an emergency fund). Managing risk implies diversifying your investment portfolio by placing your money into various asset classes and reviewing your portfolio to check for risks.   3. Do not disregard liquidity Liquidity is a vital factor to consider. While investing, you must ensure that your investments are not tied entirely to illiquid assets, which might create problems in times of distress.   4. Invest continuously Continuity and patience will reap the highest benefits in your investments. The longer you remain invested, the more you can benefit from the power of compounding and through the systematic accumulation of stocks/mutual fund units over a long period.  FAQs Is it OK to start investing at 30? Yes, it is a good idea to start investing at 30 years of age. It is never too late to start investing your money toward your financial goals. You can consult a SEBI-registered financial advisor and get the best advice to make a success. How can I build my wealth at 30? Here are some ways to build your wealth at the age of 30- Create an emergency fund Become debt-free Align investments with life goals Beating inflation Do not fear risk Do not disregard liquidity Invest continuously Is 32 too late to invest? No, 32 is not too late to invest. Be sure to connect with an expert who is SEBI-registered with ample finance experience to guide you on how to invest properly. Consult an expert advisor to get the right plan for you TALK TO AN EXPERT

As an investor, you may have heard about three broad types of funds equity funds  hybrid funds  debt funds  In this article, we will be trying to put out a comparison between debt funds and hybrid funds. We will try to differentiate them based on risks-returns and tax assessment. Difference between Debt funds and Hybrid funds 1. Debt fund A debt fund is a mutual fund, an exchange-traded fund (ETF), or any other pooled investment instrument that invests primarily in fixed-income assets. Debt funds have lower fees than equity funds due to lower management costs. Investors in debt funds can choose between passive and aggressive solutions. Credit funds and fixed-income funds are common names for debt funds. These funds are popular among investors looking to preserve their capital, along with the generation of low-risk income. Debt funds invest in a wide range of securities, each with its own set of risks. Companies with a steady outlook and high credit quality issue investment-grade debt. High-yield debt is usually issued by low-credit-quality businesses with good growth potential and a larger risk-return profile.  Debt funds are appropriate for people with short to medium-term investment horizons, where “short-term” refers to 3 months to one year, and “medium-term” refers to a period of 3 to 5 years.  2. Hybrid funds A hybrid fund is a mutual fund scheme that invests in a mix of equity and debt instruments to create a balance between the risk and returns of the instruments mentioned above.   The risk of investing in a hybrid fund is dependent on the allocation of funds between equity and debt.   Hybrid funds obtain their returns effectively in two parts:   From the risk-free debt instrument   The risky and high-delivering equity segment is volatile as well.  A comparative analysis of Debt and hybrid funds  1. Comparison of the risk-return scale Without a second thought, hybrid funds are riskier than debt funds because of equity components.   The riskiest ones within hybrid funds are those with more than 65% of equity exposure; among debt funds, the fund with low credit quality and high growth prospects carry a riskier profile.  Returns are dependent on the risk you take so returns will vary depending upon your separate exposure to equity and debt, though debt funds are categorically safer than a hybrid.  2. Comparison of the funds on the taxation scale These funds are subject to taxation on capital gains and dividend distribution tax. Funds are categorized into equity (if equity exposure is >65%) and non-equity.  Equity funds are subject to STCG of 15% if held for less than one year and LTCG of 10% if held for more than a year. On the other hand, non-equity funds (debt funds and hybrid funds with <65% equity) are taxable according to your income-tax slab.   If held for less than three years, LTCG is payable at 15% with an indexation benefit. Equity and non-equity funds attract Dividend distribution tax (DDT) of 10% and 25%, respectively.  So, while choosing the fund you wish to invest in, you have to account for your risk-return equation before deciding. FAQs What are debt funds? A debt fund is a mutual fund, an exchange-traded fund (ETF), or any other pooled investment instrument that invests primarily in fixed-income assets. Debt funds have lower fees than equity funds due to lower management costs. Investors in debt funds can choose between passive and aggressive solutions. What are hybrid funds? A hybrid fund is a mutual fund scheme that invests in a mix of equity and debt instruments to create a balance between the risk and returns of the instruments mentioned above.   What is the difference between debt funds and hybrid funds? Hybrid funds predominantly invest in equity whereas debt funds invest in debt and debt-related instruments. Consult an expert advisor to get the right plan for you TALK TO AN EXPERT

It has become clear today that global education is one of the best possible decisions for young Indian students. If you are looking to study abroad after the 12th, then you will most likely have to take a general aptitude test. These tests determine your capability and potential for the course or university you are applying to. Aptitude test scores are among several variables that colleges consider when granting admissions.  The SATs and ACTs are the two main general aptitude tests recognized by US universities. Any Indian student looking to study abroad in the US will have to take either one of them. Here is a detailed guide on both. 1. SAT The Scholastic Aptitude Test (SAT) is the most common undergraduate aptitude test taken by students applying to American universities. It is administered by The College Board in the USA, a non-profit organization. This is the test you will have to take if you are planning to study abroad in the US after the 12th. Subject SATs have been discontinued by the College Board. 2. Eligibility You need to have completed 12 years of school education in order to apply for SATs. This means that Indian students who are still in 11th and 12th can also sit for the exam. There is no minimum GPA or other requirements for sitting for the SAT. If you are serious about your study abroad plans, it would be a good idea for you to sit for a practice SAT (PSAT) while you are in 11th before attempting the actual test. 3. Format The SAT has three main components: the reading test, the writing, and language test, and an optional SAT essay. The reading section tests your ability to comprehend, analyze, and interpret passages from different subjects. The writing test will require you to fix mistakes and edit passages to make them more sound in grammar and content. The math test includes algebra, problem-solving, and data analysis as well as advanced math, geometry, trigonometry, and equations.  All questions are multiple-choice. The SAT is a paper and pencil test that uses OMR sheets. There is no negative marking. Scientific and graphing calculators are permitted in the math section. The test takes about 3 hours: 65 minutes for the reading test, 35 minutes for the writing section, and 80 minutes for math. An extra 50 minutes may be allotted for the optional essay portion The SAT essay is optional but required by certain schools. It involves reading a passage and analyzing it to understand how the author builds an argument and supports your argument with evidence from the passage. The essay tests critical reading and analysis skills. 4. Scoring The maximum possible score achievable in SATs is 1600. This is a combined score from the reading and writing sections (800) and the math section (800). Your option essay will be given a score between 2 and 8. You will also receive a percentile score indicating where you stand in comparison to other students taking the test.  5. Validity SAT scores are valid for admissions to undergraduate courses in all US universities. Non-US universities also recognize SATs but do not consider them necessary criteria. Some private Indian universities also consider SAT scores for admissions. SAT scores are valid for 5 years after the reception of the results.  6. Registration & Fees For students from India and other South Asian countries, the SAT costs $101 without the optional essay component and $117 with the essay. You can either register online through the College Board website or through the mail. For registration through mail, you will have to get the ‘The Student Registration Guide for the SAT and SAT Subject Tests’ which contains the registration form from your school. This form will need to be sent to the College Board alongside a demand draft through the USIEF which is the regional representative for SAT in India. Keep in mind that mailed forms can take up to two weeks to reach their destination so it is important to maintain adequate buffer time. 7. ACT The American College Testing is another standardized aptitude test administered by the nonprofit ACT Inc. It can be used in lieu of SAT scores if you want to study abroad in the US. It has traditionally been less popular of the two, especially among Indian students aiming to study abroad, but the two tests are usually treated on par by admissions offices. Full-length practice tests for the ACT can be found on their website. 8. Eligibility There are no specific eligibility criteria or age limits for taking the ACT. Students below 13 years of age are generally not allowed to take the ACT but can contact Customer Support to create an exception. 9. Format The test includes four sections: English, math, reading, and science reasoning. There is also an optional writing composition section. The English section will ask you to edit passages to improve grammar, content, and brevity. It tests language usage and rhetorical skills. The math section includes algebra, geometry, and trigonometry. The reading section tests the ability to comprehend long passages, derive meaning, determine cause-effect, draw generalizations, and determine the author's narrative voice and method. The science section includes data representation, a research summary, and an analysis of conflicting viewpoints. The test takes 2 hours and 55 minutes: 45 minutes for English, 60 minutes for the math section, 35 minutes for the reading section, and 35 minutes for the science portion. The writing section is optional and is 40 minutes long. Like the SAT essay, the writing section of the ACT is optional and involves writing an essay in response to a given prompt on a broad range of social issues. Students have to analyze three different perspectives given and relate their own opinions to the given perspectives. 10. Scoring Each section of the ACT is scored on a scale of 1-36. This is then averaged to calculate a composite score which is also between 1-36. The optional writing section is evaluated by two different readers who each score it between 1-6 which is added up to a total score which is between 2-12. ACT also has an ELA (English Language Arts) score which you will only be provided if you take the optional writing section. This is a cumulative score, graded on a scale of 0-36 which rates your overall performance in the English, reading, and optional writing section. 11. Validity ACT scores, like SAT scores, are valid for admission in all US universities and are therefore appropriate for students looking to study abroad in American universities. They are valid for up to 5 years from the date of receipt of results. 12. Registration & Fees ACT registration fee for international students from India is $155 for taking the test without the writing section and $166.50 for taking it with the writing section.  Registration for the test can be done through the ACT website or through the mail. For registration through mail, you will have to request a mail packet from your school or through the website. Fill in the details in the form, including choosing a test center and date, and then mail the form to the address mentioned on the form. Keep in mind that it can take up to two weeks for your form to reach its destination by mail. Make sure you have ample buffer time. Conclusion Both the SAT and ACT are mainly meant for students looking to study abroad in the US. Both tests are treated equally by universities and are equal in difficulty. Non-US universities recognize SAT scores but do not consider them essential or necessary. So, if you are looking to study abroad outside the US, it is not essential that you take them.  It is always a good idea to look into higher education counseling when applying to foreign universities. This is especially true when you are fresh out of high school and unfamiliar with the intricacies of education planning. In either case, going to study abroad is certainly an educational adventure. We hope our guides can make this adventure a little bit easier! FAQs What is SAT? The Scholastic Aptitude Test (SAT) is the most common undergraduate aptitude test taken by students applying to American universities. It is administered by The College Board in the USA, a non-profit organization. This is the test you will have to take if you are planning to study abroad in the US after the 12th. Subject SATs have been discontinued by the College Board. SAT is used for admissions to which university? SAT is a common undergraduate aptitude test for students applying to American universities. What is ACT? The American College Testing is another standardized aptitude test administered by the nonprofit ACT Inc. It can be used in lieu of SAT scores if you want to study abroad in the US. Consult an expert advisor to get the right plan TALK TO AN EXPERT

If you are a young Indian student wanting to study abroad, you need to know about English Language Proficiency Tests. These exams are essential whether you go to study abroad after the 12th or after finishing your graduation. They are also valid in non-English speaking nations as long as the course you are applying for is taught in English. But what are some of the tests you can take and how do you take them? Well, here is a guide to help you with that. 1. IELTS The International English Language Test is conducted by the British Council and IDP in India. This test is for both students seeking to study abroad as well as people looking to immigrate for jobs or other purposes.  Format IELTS involves reading, writing, listening, and speaking tests. The tests are taken on paper or through a computer. Only the speaking test involves face-to-face interaction with a human examiner. The listening section involves listening to an audio recording before writing down your answer. This tests your ability to comprehend spoken English in different accents and contexts.  The test takes about 2 ½ hours to finish, minus the speaking section which can take about 15-20 minutes and may be held on the same day or later depending on examiner availability. Scoring Test takers are scored on a grade scale of 1-9. For most university admissions purposes, a score of 6.5 is the minimum you need to be considered eligible. However, if you want to study abroad for a Humanities program, particularly language, literature or media programs, the minimum score required may be higher, up to a 7 or 7.5. Validity IELTS is available in Academic and General Training types. The Academic test is the one you will need for study abroad purposes. The General Training type is appropriate for those looking to move abroad for jobs or non-degree school programs. IELTS is accepted by universities in the UK, USA, Canada, Australia, New Zealand, and the EU. If you are unsure of whether the school you are applying to accepts IELTS scores, you can use the IELTS website to check. The scores are valid for two years from the date of receiving the results. Fees  The registration fee for IELTS is Rs.14,700. You can register for and book a test through the IELTS website. You will have to go to the designated test location for your test. You will be required to have your passport in hand to register and to present your passport as ID proof at the center while taking the test. 2. TOEFL The Test of English as a Foreign Language (TOEFL) is used by universities in the US and Canada to test English language proficiency for aspiring international college students. It is conducted by the ETS or the Education Testing Service of the USA.  Format The TOEFL, unlike the IELTS, is an entirely computer-based test. It also has reading, writing, listening, and speaking sections. While the rest of the exam is similar in format to IELTS, the speaking section here involves speaking into a computer that records your voice. This recording is later evaluated by three to six examiners. The exam takes about 3 hours to finish. In light of the COVID-19 pandemic, ETS has also introduced home-based internet testing for TOEFL which involves web-based proctoring by a human invigilator. This is done through screen sharing and webcam.  Scoring Each section of the test is scored out of 30. The highest possible total score is therefore 120. The minimum score requirements differ from university to university and course to course. Anything in the range of 90-100 can be considered a rather safe score. A score above 100 is a very good score and may be necessary if you are applying for language, literature, or media programs.  Validity While TOEFL is popular with students going to study abroad within universities in the USA and Canada, schools in the UK, Australia, New Zealand, and the EU also often accept TOEFL scores. If you are unsure whether the school you are applying to accepts TOEFL, you can always consult the school’s website or go to the TOEFL website and check. The scores are valid for up to two years from the date of receiving the results. Registration & Fees The registration fee for TOEFL is Rs. 12,750. You will need your passport as an ID document at the time of registration. You can register for and book the test through the ETS website and then either take the test at the designated test center or at home. You will also need to present your passport at the test center on the day of the test. 3. PTE The Pearson Test of English (PTE) is another proficiency test for students looking to study abroad. It is administered by the testing agency Edexcel which is a subsidiary of the Pearson group. The PTE test is entirely computer-based and is evaluated by AI rather than human examiners. This eliminates human error or bias in evaluation. Format The PTE is a 3-hour test and includes three sections: speaking and writing, reading, and listening. Like the TOEFL, the speaking portion involves recording your verbal response for evaluation later on. The test is evaluated by AI. Scoring The PTE is scored on a scale of 10-90 based on an assessment. For a more detailed understanding of how the AI algorithm allows scores, you can check PTE’s score guide. A score of 58 in the PTE is roughly equivalent to a 6.5 in IELTS and a 59 is around a score of 87-88 in TOEFL - the very minimum scores considered by most universities for eligibility. Validity The PTE Academic test is used by students looking to study abroad. The PTE Home is for general immigration purposes for families looking to settle abroad. The PTE Academic is accepted by thousands of universities in the Anglosphere. You use the PTE website to check whether or not the universities you are applying to accept it. The scores are valid for two years from the date of receiving the results. Registration & Fees The standard price for a PTE Academic test is Rs.11,610. You can register and book a test for yourself by contacting your nearest test center which can be found on the PTE website. You will need your passport as an ID document at the time of registration. You will also need to present your passport at the test center on the day of the test. 4. Cambridge English Qualification Certifications Cambridge English is a producer and one of the co-owners of the IELTS test. They also conduct other English language qualification tests for various purposes including for schools, general and higher education purposes, and business English. These qualifications are both for studying abroad as well as general language certification purposes. Format The Cambridge English Qualifications are different from the previously mentioned exams in that they are not a single test but offer different certifications based on levels of proficiency. These levels are based on the CEFR standards, that is the Central European Framework of References for Languages. This is an international standard for grading language ability on a six-point scale from A1 (beginner) to C2 (completely proficient). A C1 level (CAE or Certificate in Advanced English) or a C2 level (CPE or Certificate of Proficiency in English) is generally required for higher education purposes. An IELTS score of 7 or higher is also considered C1 level proficiency and a score of 8 or higher is considered C2 level proficiency without having to sit for these exams separately. These exams also include reading, writing, listening, and speaking sections with the last one conducted through face-to-face interaction with a human examiner. The CAE and CPE exams are quite intensive and take about 3 hours for the reading and writing section, 40 minutes for the listening section, and 15 minutes for the speaking test. Scoring The CAE and CPE results are scored on the Cambridge English Scale. You need a score of 180 above to be considered C1 and a score of 200 above to be considered C2. In case you score lower than that, you will still be given a certificate but for a lower level like B2 or B1 which indicates preliminary or basic proficiency. Validity CAE and CPE are accepted by all universities in the UK. They are also accepted by many universities in the EU, USA, and Canada. You can check their website to ensure your school is one of them. The certificates are valid for a lifetime, however, universities may ask for recent test scores - no more than two or three years old. Registration & Fees To register for these exams, you will first need to find a test center near you. Cambridge English Qualification exams are conducted both in paper-based and computer-based modes. You will have to travel to the test center to sit for the exam. Since the tests differ in fee, you will have to contact the testing centers directly to find out about the fees. TALK TO OUR LOAN EXPERTS! FAQs What are the English language proficiency tests? If you are a young Indian student dreaming of studying abroad, you will have to prove your English proficiency. For this, you will have to take a test to prove your proficiency. These exams are essential whether you go to study abroad after the 12th or after finishing your graduation. They are also valid in non-English speaking nations as long as the course you are applying for is taught in English. How much is the IELTS exam fee? A student needs to pay Rs. 16,250 to attend the IELTS exam. Is IELTS very difficult? The International English Language Test is conducted by the British Council and IDP in India. This test is for both students seeking to study abroad as well as people looking to immigrate for jobs or other purposes.   IELTS involves reading, writing, listening, and speaking tests. The tests are taken on paper or through a computer. Test takers are scored on a grade scale of 1-9. For most university admissions purposes, a score of 6.5 is the minimum you need to be considered eligible. What is the most popular language proficiency test? International English Language Testing System (IELTS) and the Test of English as a Foreign Language (TOEFL) are two of the most popular language proficiency tests. Conclusion This was a detailed guide to every English language proficiency qualification test that you can consider if you are planning to study abroad. It is very important to choose the most suitable test for your needs to avoid your application being rejected. All of the tests listed here are widely recognized and accepted, especially the first two. However, it is important that you do your due diligence as well by checking all individual admission requirements for your prospective schools.

It is scary graduating from school. You have to make major decisions regarding your career and education that you may not entirely be ready for. Should join a course immediately or should you take a gap year? Maybe, you are scared, unsure, and hesitant. That’s alright. It’s normal for you to be scared when making such major decisions. After all, there are so many things to be decided. Is studying abroad worth it or should you stick to India? Self-financing, scholarships, or education loans? Besides, what do you want to do anyway? You don’t have to have these answers all at once. In fact, a gap year is exactly what you need to find these answers. A gap year can give you the time and insight you need to make the right decisions for your career and for yourself. Guide to spending a year gap Gap Year Explore 1. Getting to Know Yourself The most important thing to do in a gap year is to get to know yourself. What kind of a person are you? What kind of a person do you want to be? What kind of a career do you want? These are questions you may not know the answers to while you are still fresh out of school. Going straight from school to college can be emotionally taxing and cause burnout. It doesn’t give you the space to find out what you really want to do. This is where a gap year can be life-changing. You don’t get dumped from one rat race to the next. Instead, you can take the time to figure out what you want to do. Your parents could be pressuring you to go for a safe field like engineering. But do you have something else in mind? Perhaps you want to go for something less traditional? A gap year gives you the time to figure these things out. It gives you time to come up with an education plan or a career plan for yourself.  Travel Gap year 2. Travel and Explore the World Travel can change you. It is very likely that up until now you have been a very sheltered child and have never ventured outside your parents’ supervision. Well, you are an adult now, and you should go out and experience the world.  Traveling during your gap year will help you grow and mature as a person. Coming out of school, most people are still children. They have never lived on their own or outside their parents’ care. They haven’t learned how to take care of themselves or deal with people on their own. Traveling helps you meet new people and learn new perspectives. But more than that, traveling teaches you how to plan and organize, how to budget, how to save money, whom to trust, and how to think on the fly to overcome a sticky situation. These are all important real-world life skills that are required by an adult. Travel helps you learn how to become a well-rounded adult. 3. Learn a Language or Skill Schools often put an emphasis on just academics. Good academics are necessary for cracking entrance exams and putting forward a shining CV for foreign universities if you are planning to study abroad. However, academics should not be your only skill. If you have not been able to focus on any extracurricular activity or skill outside of your studies, your gap year may be the perfect opportunity for you. You could enroll yourself in a music or dance class, or learn a more practical skill like automobile repair. Gap years can give you the time you always wanted but never had to learn a new skill or language. You could even take beginner-level online courses in programming languages, data science, artificial intelligence, and other such courses. These courses teach you extra skills and pad your CV. They could also introduce you to disciplines and concepts that you can dabble in, before deciding to pursue them seriously in college.  Learning a language is even more advantageous if you have hopes of studying abroad. It can help you mix in and make friends more easily when you move abroad to study at your dream college or university. Even if you have no plans of studying abroad, having a command over foreign languages can help beef up your CV and improve your chances of landing a particular job or university. Gap year internship 4. Take up an Internship You can also garner some work experience during your gap year by taking up an internship. Internships offer practical work experience that schools and colleges are often unable to give their students. The world of academics is often very different from the practical world of the job market. Employers want practical, employable skills that schools often do not teach. This is why an internship can be an invaluable experience for you during your gap year. You can use sites like Internshala to look for internship opportunities in fields that you are interested in. For example, if you are interested in media, you could look for a media house that is looking to hire some interns. By doing this, you learn first-hand the kind of work and responsibilities you can expect while working for a media house before you even start college.  You could also talk to the people at your place of internship to find out what kind of degrees, courses, and career paths you can take. An internship is a treasure trove of knowledge, experience, and potentially beneficial professional relationships. Talking 5. Talk to People This is perhaps the simplest yet most important thing you can do during your gap year. You should talk to people and get some advice, counseling, and guidance for your career. You need not approach a professional education and career counseling service for this, you can simply talk to the people around you. You should talk to your parents and seniors about your career and education. You should also talk to them about their careers and the steps they took to get where they are. Ask them about what they did right and the mistakes they made, or what they would do differently given the chance. You can learn from their experiences. You should also contact the alumni of the universities you want to apply to as well as the universities themselves. Ask them about the admission process, student life, and about career prospects. Also, ask them about funding and how students usually go about fundraising for education in these universities. If you want, you can also take the time to see a professional education counselor.  Talking to people helps you make better decisions about yourself and your career.  A gap year is not really a gap, in fact, it is filled with important lessons and adventures. Good luck to you as you embark on your gap year adventure! FAQs Why is a gap year worth it? Yes, a gap year is worth it if you utilize it well. There are multiple opportunities for students in a gap year such as interning at a company, volunteering in your own country or abroad, and even upskilling with short courses. These are some helpful and excellent ways of growing and making the best of your gap year. How do you explain a gap year? The best way to explain a gap year is by being truthful and helping your interviewer understand why you choose to take time away from college/work. It is also good to show that you utilized that time productively and developed skills and knowledge that can help you in the long run. What to do in a gap year in India? There are multiple opportunities for Indian students in a gap year such as interning at a company, volunteering in your own country or abroad, and even upskilling with short courses. These are some helpful and excellent ways of growing and making the best of your gap year.

Investment tips can be a life savior. Especially when life today is expensive and getting costlier. Education, housing and other costs of living are certainly not getting any cheaper. Your savings will only take you so far and thus, financial planning and investment have become a necessity today. Education planning in India is getting popular, especially for parents looking to send their kids to study abroad without taking out education loans. If you are a beginner investor, and thinking about child investment plans or other strategies, here are some things you should know. 1. Invest with a plan You should always invest with a plan. It is very important to be clear from the get-go about what your financial goals are. Investments in a house, investments for buying a car, investments for retirement, and investments for child education are all very different financial goals. Some financial goals require short-term planning while others require planning long-term.  For example, buying a car is a short-term goal, while creating a proper education plan for your child or planning for retirement are long-term goals. A diversified short-term investment plan is much more suitable for the former and a long-term investment scheme will be more useful for your long-term goals. If you are a beginner, it can be a good idea to invest with a financial service that manages your investments for you. A personalized and customized financial plan created by experts is useful when you are short on time or expertise yourself. If you want to create a solid education plan for your children, you can invest your money in mutual funds and ETFs through EduFund.  2. Educate yourself about the stock market While it may be tempting to leave everything to the experts and rest stress-free, that is not a very good attitude to have. You should educate yourself about what you are investing in and why. A lot of beginner investors follow trends and invest in whatever is being talked about the most. There is a chance of this being profitable in the short term but this definitely not a good long-term strategy. For that, you will need to educate yourself on the stock market. You need to understand how the stock market works and what it means when a stock rises or falls. What is a stock and what does it mean when you buy a stock? You should also educate yourself on the jargon. What is BSE, NSE, Sensex, Nifty, etc.? What is the difference between investing and trading? First-time investors also need to specifically look at what they are investing in and learn as much as possible about it. If you are investing in ETFs, it is important to first understand what an ETF is and why they are so popular with beginner investors.  Sometimes, the experience can also be a teacher. When you enter the market as a rookie, you may make mistakes and suffer losses. Take these losses as a learning experience to understand what to do and what not to do. Knowledge is your friend when you are an investor and not all of this knowledge needs to be bookish. 3. Understand market risk When you invest your money into the market, you can either make a profit or suffer a loss. The more money you have invested, the more your exposure and consequent risk.  Volatile or trendy stocks and options can be risky. Balanced mutual funds, real estate, and high-income bonds are relatively low risk. Bank savings deposits, fixed deposits, and government bonds are the lowest-risk investments. As an investor, what you need to do is determine how much risk you are willing to take. It is always a good idea to start slow. Do not speculate too much too quickly. Rather, plan things out and invest according to your goals. Your risk tolerance will also differ depending on your financial goals. If you are investing to fund your child’s education plan, which is an expensive, long-term investment, you should not take unnecessary risks.  Diversification is a great idea to lower risk as this ensures that your invested principal is not tied up in only one thing. This balances out your risk. Investing in ETFs and mutual funds is a great way to do this. These funds are already diversified and their investment portfolio is structured and balanced to ensure relatively lower risk. 4. Invest in what you know We have recently seen big booms and falls in the prices of certain stocks like GameStop. A lot of people invested in these stocks due to the hype and media attention. While many of them made huge profits, when the stocks eventually fell, many investors ended up losing a lot of money as well.  This is a great example of what happens when you invest out of herd mentality, without fully understanding what you are investing in and why. While these types of investments can be good for a quick and sudden cash fall, they are completely inappropriate as a long-term investment strategy.  When you invest in a stock, you purchase yourself a stake in the company. As a stakeholder, you should do your due diligence about the company and its stocks. Understand how the company makes its money and stays profitable. If you don’t do this, you will not be able to predict or understand when a company’s stock may fall and put you in a financial crisis. If you don’t understand how or why a particular stock shot up, it's not a good investment. 5. Stay calm This is perhaps the most important aspect of investing. The stock market with its highs and lows can lure you into making impulsive, emotion-driven decisions. It is important to have self-control in these matters and stick to proven investment strategies rather than variable market trends. It is also equally important to understand that short-term market fluctuations, by and large, don’t affect your long-term investments in the long run. With financial goals like education plans and home ownership, any rise and fall in stock prices can make you nervous. However, it is important to have faith in your long-term investments. If you have done your due diligence and research in picking the right plans and strategies for yourself, the only thing you need to do is relax and keep faith in your investments. Conclusion Investment is a strategy for creating wealth in the long term and requires patience, faith, knowledge, and planning. It is important to educate yourself as much as possible about all relevant issues and keep in touch with experienced advisors and analysts. FAQs What is the best strategy for a beginner investor? You should always invest with a plan. It is very important to be clear from the get-go about what your financial goals are. Investments in a house, investments for buying a car, investments for retirement, and investments for child education are all very different financial goals. Some financial goals require short-term planning, while others require long-term planning.    How can I invest smartly? Stay calm. This is perhaps the most important aspect of investing. The stock market, with its highs and lows, can lure you into making impulsive, emotion-driven decisions.   It is important to have self-control in these matters and stick to proven investment strategies rather than variable market trends.   It is also equally important to understand that short-term market fluctuations, by and large, don’t affect your long-term investments in the long run. What should beginning investors invest in? Invest in what you know. When you invest in a stock, you purchase a stake in the company. As a stakeholder, you should do due diligence on the company and its stocks.    Understand how the company makes its money and stays profitable. If you don’t do this, you will not be able to predict or understand when a company’s stock may fall and put you in a financial crisis.    If you don’t understand how or why a particular stock shot up, it’s not a good investment.   What are 5 tips for beginner investors? Invest with a plan   Educate yourself about the stock market   Understand market risk   Invest in what you know   Stay calm  

The process of applying for higher education admission can be an overwhelming experience for many students. With the increasing competitiveness of universities and colleges, it is essential to have a strong admission strategy to improve your chances of getting accepted. In this regard, students frequently consider the question, "How can I improve my college admissions?" and look for strategies to boost university enrollment.   To help students achieve their academic goals, there are several ways to improve college admissions, such as building a strong academic record, participating in extracurricular activities, and crafting a compelling application. In this article, we will explore effective strategies and provide tips on how to improve your college admissions, ultimately increasing your chances of securing a spot at your desired institution. 1. Focus on academic performance  One of the most critical factors in improving your college admissions is academic performance. Admissions committees look for students who have challenged themselves academically and maintained a high GPA. To improve your academic performance, take challenging courses that align with your interests and future career goals. Consider participating in academic competitions and programs, such as science fairs, writing contests, or debate teams, to showcase your skills and passions. Seek opportunities for academic recognition and awards, such as honor societies or scholarships, to demonstrate your commitment to learning and achievement.  https://www.youtube.com/shorts/ycDKvqDM4yY 2. Build a well-rounded profile  In addition to academic performance, admissions committees also look for well-rounded students who have pursued diverse interests and passions. To improve your profile, consider joining clubs and organizations that align with your interests, such as student government, music ensembles, or sports teams. Volunteer for community service projects or non-profit organizations to demonstrate your commitment to making a positive impact. Pursue leadership positions in extracurricular activities to showcase your ability to take initiative and inspire others.  3. Develop strong relationships with teachers and mentors  Strong relationships with teachers and mentors can be invaluable in improving your college admissions. These individuals can provide guidance and support for your academic and personal goals, as well as write strong recommendation letters for your applications. To develop strong relationships, actively participate in class, ask questions, and seek feedback on your work. Attend office hours or schedule one-on-one meetings with your teachers or mentors to discuss your academic progress and goals. Connect with alumni and professionals in your desired field of study to gain insights and advice on the college admissions process and career opportunities.  4. Craft a compelling application  Crafting a compelling application is crucial in improving your college admissions. This includes paying attention to the details, such as spelling, grammar, and formatting, and emphasizing your unique qualities, experiences, and achievements. To create a compelling application, start by researching the admissions requirements and policies for each institution you apply to. Personalize your application to each institution by highlighting how you align with their mission and values. Consider seeking feedback on your application from teachers, mentors, or college counselors to ensure that it is clear, concise, and engaging.  5. Consider additional factors that can impact admissions decisions  In addition to academic performance, extracurricular involvement, and application quality, there are several other factors that can impact admissions decisions. Taking standardized tests, such as the SAT or ACT, and preparing well in advance can improve your scores and increase your chances of acceptance. Researching the admissions requirements and policies for each institution can help you determine which schools are a good fit for your goals and qualifications. Consider applying to a diverse range of schools to increase your options and opportunities, including safety schools and reach schools.  6. Seek out unique experiences and opportunities  Admissions committees often look for students who have pursued unique experiences and opportunities that set them apart from other applicants. This includes studying abroad, conducting research, completing internships, or pursuing independent projects. Seek out these opportunities to demonstrate your curiosity, creativity, and initiative.  7. Start early and stay organized  The college admissions process can be lengthy and complex, so it's essential to start early and stay organized. Research schools and their admissions requirements well in advance of application deadlines. Create a timeline and to-do list to keep track of important dates and tasks, such as taking standardized tests, requesting transcripts, and writing essays.  8. Demonstrate your passion and commitment  Admissions committees want to see that you are passionate about your chosen field of study and committed to pursuing your goals. This could include participating in related extracurricular activities, pursuing relevant internships or jobs, or completing related coursework. Demonstrate your passion and commitment in your application materials, including essays, resumes, and interviews.  9. Be authentic and genuine  Finally, it's essential to be authentic and genuine in your application materials. Admissions committees can often detect when applicants are being insincere or trying to present a false image of themselves. Instead, focus on highlighting your unique qualities, experiences, and achievements in a genuine and honest way that accurately represents who you are as a person and student.  By following these tips and strategies, you can improve your college admissions and increase your chances of getting accepted to the college or university of your choice. Remember, the college admissions process can be challenging, but with hard work, dedication, and perseverance, you can achieve your academic goals and set yourself up for success in higher education and beyond.  Conclusion  There are many ways to improve your college admissions and increase your chances of getting accepted to the school of your dreams. By focusing on your academics, taking standardized tests seriously, participating in extracurricular activities, seeking out unique experiences and opportunities, staying organized, demonstrating passion and commitment, and being authentic and genuine in your application materials, you can create a compelling application that stands out to admissions committees. Remember to start early, work hard, and stay true to yourself throughout the process. With dedication and perseverance, you can achieve your academic goals and pave the way for a successful future in higher education and beyond.

Preparing your child for a school interview can be an overwhelming task for both parents and children. It is natural for parents to feel anxious about the interview process as they want to ensure that their child has the best chance of getting into their desired school.   The key to reducing this anxiety is to adequately prepare your child for the interview. This involves practicing interview questions and discussing potential topics that may come up. In this process, it is crucial to familiarize yourself with common education interview questions and primary education interview questions.   By doing so, you can help your child feel more confident and relaxed, which can ultimately improve their chances of success. In this article, we will discuss some tips on how to prepare your child for a school interview and the types of questions that may be asked.  12 tips on preparing for the Interview  Start by explaining the purpose of a school interview and why it is important for parents and children to prepare adequately for it. Emphasize the fact that school interviews are designed to assess the suitability of the child for the school and to ensure that they will thrive in the school's academic and social environment.  Discuss the types of questions that may be asked during a school interview, including both general education questions and primary education questions. Examples of general education questions could include questions about the child's academic strengths and weaknesses, hobbies and interests, and extracurricular activities. Primary education questions could include topics such as the child's familiarity with basic math and literacy skills, their ability to follow instructions, and their behavior in a classroom setting.  Provide tips and strategies for preparing your child for a school interview. Encourage parents to practice interview questions with their children and to help them develop effective communication skills. Encourage children to be confident and to express themselves clearly during the interview.  Discuss the importance of being honest during the interview. Encourage children to be truthful about their academic strengths and weaknesses, their interests and hobbies, and their goals for the future.  Emphasize the importance of showing enthusiasm and interest in the school during the interview. Encourage children to ask questions about the school and to show that they are excited about the possibility of attending.  It can be helpful to research the school beforehand to gain an understanding of the school's values, teaching methods, and areas of emphasis. This can help parents and children tailor their responses to better align with the school's mission and values.  Remind parents and children to dress appropriately for the interview. While it may not be necessary to dress in formal attire, it is important to wear clean and presentable clothing that shows respect for the interview process and the school.  Encourage children to practice active listening skills during the interview. This includes maintaining eye contact, paying attention to the interviewer's questions, and responding thoughtfully and respectfully.  Parents can also help prepare their children for the interview by role-playing different scenarios and responses. This can help the child feel more comfortable and confident during the actual interview.  It's important to emphasize that the school interview is not just about academic achievements, but also about the child's character, personality, and potential. Encourage children to showcase their unique qualities and strengths during the interview.  Remind parents and children that the school interview is just one part of the admissions process and that there are many factors that are taken into account when making admissions decisions. Encourage parents and children to stay positive and focus on doing their best during the interview.  Finally, remind parents and children to be themselves during the interview. While it's important to prepare and practice, it's also important to be authentic and genuine. This can help the child feel more comfortable and confident. It can also help the interviewer gain a better understanding of the child's personality and potential.   By following these tips and strategies, parents can help their children feel confident and prepared for their school interview and increase their chances of success in the admissions process.  Conclusion  Preparing your child for a school interview is an important step towards securing their place in the school of their choice. By familiarizing yourself with education interview questions and primary education interview questions, practicing with your child, and encouraging them to be confident, honest, and enthusiastic, you can help them feel more comfortable and increase their chances of success.   Remember to research the school beforehand, dress appropriately, practice active listening, and encourage your child to be themselves during the interview.   With these tips and strategies, you can help your child shine during their school interview and stand out among the competition. Whether you're looking for primary education interview questions or general education questions, preparing your child adequately for their school interview can make all the difference in their future academic success. 

Enrolling overseas to further your study at your dream institution is a remarkable accomplishment. To pass the admission tests and get into college, a lot of work and effort must be put in. It is even more upsetting if your method is unsuccessful in paying your university tuition costs after all of these attempts. In this blog, we will discuss tips to find the best exchange rates and international money transfer options when using an abroad education loan to pay for your studies abroad  Find the Best Exchange Rates & Money Transfer Options The best exchange rates and international money transfer choices may be found by applying the following top suggestions when using an overseas school loan to pay for your studies abroad: 1. Compare the best rates A backup strategy in case your first one fails is a smart idea. You should assess your selections' exchange rates, customer service, and user experiences. 2. Don't use your debit cards at foreign ATMs You would have to pay withdrawals or transaction fees if you used your debit card to make a purchase. Yet, if you were to do an overseas transaction, you would be required to pay for the unfavorable exchange rate, ATM fees at the foreign ATM, and a payment from your bank for using your card at a foreign ATM. The price is about three times what you normally pay with all these fees. Reconsider your necessity before using your card at a foreign bank. If necessary, ask a bank representative about the fees associated with an overseas transaction. 3. Buy items in the local currency This is especially helpful if you're a tourist on the road. Stores frequently offer to accept either dollars or euros in exchange for the amount you'd want to pay. It makes sense, doesn't it? The equivalent will always be a higher exchange rate; that's the problem. Although it might not seem like much at first, it can result in a considerable loss when added together. Instead, do a bulk exchange at a money changer or bank and pay in the local currency. 4. Be wary when there are no currency exchange fees There may be a lot of attempts made by business owners, exchange providers, and money changers to persuade you that there are no additional fees. Even though it could seem like a fantastic deal, give it some thought. It's been a while since I've done that. The answer is straightforward: by raising the already unfavorable exchange rates. How to transfer money from India to abroad? You may select from several techniques to send money abroad from India. The preferred method will be heavily influenced by the reason you are sending the money, as well as any requirements, such as whether you need the money to arrive quickly in case of an emergency, are looking for a cheaper alternative, or would prefer to stick with a single institution, like your bank or online platforms. 1. International money order/ offline money transfer Money orders were the go-to way to transfer money abroad before online wire transfers became popular, even for individuals who had no idea how to do it. It remains a cheap and secure method of sending money outside of India. 2. Online money transfer Western Union is the quickest and most convenient method of sending money abroad. The majority of Indians who send money abroad do it in this manner. The procedure requires the destination account data, the IBAN or SWIFT number of the receiving bank, and details on the account holder, for example. However, remember that you can be charged high taxes and currency rates because this approach uses something other than intermediate organizations. 3. Online wire transfer This is the most recent method to enter the money transfer industry, and it offers inexpensive costs and assessed charges for sending money abroad from India. You may send money through a wire transfer through several financial organizations, including banks and authorized money changers like Western Union, Book My Forex, etc. Although sending money abroad is one of the most expensive, it typically takes longer than internet money transfers. Internet wire transfers use intermediary institutions to transport money abroad, so they may provide low or nonexistent overhead costs. Nowadays, you can access a wide range of businesses and online platforms and are no longer constrained by the possibilities accessible when sending money abroad from India. Whatever option you select, double-check information like the recipient account number and other specifics.  Consult an expert advisor to get the right plan TALK TO AN EXPERT

Studying abroad can be a life-changing experience, providing you with unique opportunities to learn, grow, and explore new cultures. However, the cost of tuition, living expenses, and travel can be significant, making it difficult for many students to finance their education. In such cases, education loans can be a useful tool to cover expenses.   While it may be tempting to quickly sign the loan agreement, it is essential to read and understand the fine print in the document carefully. This is because the terms and conditions of the loan agreement can have a significant impact on your financial future, and failing to pay attention to the details could result in unexpected costs, fees, or penalties.  In this article, we will discuss the importance of understanding the fine print in your abroad education loan agreement and highlight some crucial things to watch out for to ensure that you make an informed decision when borrowing for your education.  1. Do you qualify to apply for a student loan?  To determine eligibility for an education loan, one must identify banks that offer loans for the chosen course. Generally, banks don't offer loans for short-term or vocational courses. However, if an internationally recognized institute has accepted the application, the chances of getting a loan may increase. Extensive research should be conducted to determine the educational loan options available. A list of institutes that provide loans for the desired course should be created. Additionally, it is important to determine whether a co-signer or collateral is needed for the loan.  2. Can you afford to pay your bills?  It is important to note that if the education loan amount exceeds Rs. 4 lakhs, a marginal sum must be paid to the bank. A co-signer is required if the loan amount exceeds Rs. 5 lakhs, and collateral is necessary if it exceeds Rs. 7.5 lakhs. It is crucial to estimate expenses and keep in mind that the loan amount applied may not be the amount received. Research should be conducted to determine if the preferred educational institution has partnerships with banks or lenders and if any concessions are available for international students.  3. Where should you submit a loan application?  Researching various options on the internet is the best way to find a suitable lender for a personal loan. It is crucial to compare personal loan interest rates and examine the repayment options and clauses of different banks and lending entities. Choose a loan that meets all needs without stretching finances too thin. Additionally, it is important to investigate the expenses that these banks cover, which could include tuition fees, travel, living expenses, equipment costs, and other necessary expenses.  4. How does the loan application procedure work?  Applying for a loan typically involves a significant amount of documentation. Lending institutions usually require identity proof, address proof, and signature proof, among other documents, to process the loan application. It is crucial to follow the list and instructions meticulously to ensure that all necessary documents are provided. Lending entities often offer assistance with documentation concerns if requested. Before signing the agreement, it is important to carefully read and understand the fine print of the agreement to avoid any misunderstandings or discrepancies later on.  5. How will the loan be repaid?  The repayment period clause is an important component of the loan agreement with the lender. It typically provides a moratorium period before the borrower must begin making EMI payments. This grace period allows the borrower time to secure a job before beginning repayment. In the event that the borrower is unable to find employment, some lenders may extend the pay-off period based on their relationship with the borrower. It is advisable to discuss repayment options with the lender while applying for a personal loan. It is important to note that not all banks will defer loans, and this is typically done only under exceptional circumstances.  https://www.youtube.com/watch?v=4gTQkdePOWM Advantages of requesting a student loan  There are several benefits to applying for an education loan, including:  Financial assistance: Education loans provide financial assistance to students who may not have the means to pay for their education themselves. This enables students to pursue their academic goals without financial constraints.  Competitive interest rates: Most education loans come with competitive interest rates, which are generally lower than those of personal loans or credit cards.  Tax benefits: Under Section 80E of the Income Tax Act, the interest paid on an education loan is tax-deductible, which can help reduce the overall tax liability.  Flexible repayment options: Education loans typically offer flexible repayment options, such as moratorium periods, longer repayment periods, and customized repayment plans.  No collateral required: In many cases, education loans do not require collateral, making it easier for students to secure funding for their education.  Improve credit score: Timely repayment of education loans can help students build their credit score, which can be beneficial in the long run when applying for other loans or credit.  Conclusion Applying for an education loan can be a great option for those who are looking for financial assistance to pursue their academic goals. With competitive interest rates, flexible repayment options, tax benefits, and the potential to improve credit scores, education loans provide a valuable resource for students who need funding for their education.  It is important to research various lenders and their loan options, carefully review the loan agreement and repayment terms, and ensure that all required documentation is provided to secure the loan. With careful planning and execution, an education loan can be a valuable tool for students seeking to achieve their academic dreams. 

The question of how much salary to invest in mutual funds is a burning question for many salaried professionals.   There are many thumb rules; for example, the 50:30:20 rule is a great example that shows how, typically, on average, a person should invest 20% of a month’s salary.   Before investing in any instrument, the first thing that needs to be taken care of is your fixed obligation-to-income ratio. Fixed obligations are those expenses that are necessary to sustain your life.   So, whatever remains after paying your fixed obligation should go towards investing.   How much in mutual funds?   The question is how much of that 20% of investments should go into mutual funds. Mutual funds are a very popular form of investment giving better returns than your savings account and are also a hassle-free investment strategy.   There are various types of mutual funds depending on your risk appetite. Some of them are index funds, debt funds, multi-cap funds, hybrid funds, and equity funds.   Equity funds are the riskiest because they have the highest exposure to equity markets.   The amount that you will invest in mutual funds will depend upon your salary range and the expenses you will cover. But the percentage, as shown above, is usually 20%.   At least half of it is 10% of the total salary and should be in mutual funds in the form of SIP investments because mutual funds have the power to generate high returns in the long run. Far more than FDs and savings accounts.  Example:   Suppose person A earns ₹40,000 per month.   50% of 40,000 = 20,000   So, ₹20,000 should go towards the necessities like rent, bills, etc.   30% of 40,000 = 12,000   Then, ₹12,000 should be spent on movies, gyms, restaurants, etc.   20% of 40,000 = 8,000   The remaining ₹8000 should be saved or invested.  In that ₹8,000, at least ₹4,000 should be invested in mutual funds, which is 10 percent of the total salary. The remaining 10 percent can be saved or invested depending on your financial goals.  Source: Pexels Long term goals   Your investment in mutual fund SIPs should align with your future goals as an individual or even for your family. It completely depends on how much wealth you would like to have in the long run (given your desired time horizon).   Your long-term financial goals will also decide how much you want to invest and which type of mutual funds you should invest in to get the desired type of returns.   You can arrive at any amount depending upon the type of expenses you will undertake in the future. You must carefully analyze the total amount of your SIP investment in mutual funds.  Investing some portion of your monthly income will go a long way in your dream of wealth creation in the future. You need to remain consistent with your investments.   Also, keep on increasing the size of your investment in your desired instrument with every hike in your salary.  FAQs What % of your salary should you invest in mutual funds? The thumb rule that most investors follow is the 50:30:20 where 20% of your income should be invested. However, the percentage differs based on the individual's salary, financial goals, and assets/debts. How much in mutual funds?   The amount that you will invest in mutual funds will depend upon your salary range and the expenses you will cover. But the percentage, as shown above, is usually 20%.  To figure out how much to invest, you can always consult an expert. Can a salaried person invest in mutual funds? Yes, salaried persons can invest in mutual funds/stocks and ETFs. There are many investment options available to salaried persons in India and even abroad such as investing in US stocks and ETFs. How much to invest in mutual funds and how to choose a mutual fund is best answered with the help of an advisor! Consult an expert advisor to get the right plan for you TALK TO AN EXPERT