How To Avail Scholarships or Education Loan After IELTS?

By Think India Last updated Aug 19, 2022

With opportunities growing all around the world, an increasing number of Indian students are looking to study at various universities abroad. Studying abroad ensures that you will have access to high-flying vocations where the sky is the limit. Universities all across the world offer a wide range of degrees, giving students a wide range of career options. The great career prospects after IELTS have increased the demand for IELTS Coaching in Delhi and other cities in India.

Many of the institutions, on the other hand, provide scholarship programs and financial aid to students, which help in improving their job prospects. With increased expectations, kids and their families have a new responsibility to fulfill. Global education funding has a massive impact on the type of course, students take and the institution they attend.

There is no comparison to the education and hence every student should try to get enrolled in the desired course in the local institution or in an educational institution abroad. The importance of the issued degree by the educational institutions in the English-speaking nations like the USA, UK, Canada, etc. is limitless. It makes an addition to your profile and helps you stand out in the crowd. A good score in the IELTS can help you seek admission to your chosen course in the university or college in your mind. The IELTS Coaching in Delhi by Study Smart has helped many applicants travel abroad for education and employment.

How Do I Get a Study Abroad Scholarship after ILETS?

IELTS scores are valid for a period of two years. You can apply for the scholarship only after you have the IELTS score in hand.

British Council IELTS Scholarships 2022

1. Amount and Eligibility

The British Council offers IELTS scholarships to students coming from low-income backgrounds. The applicant needs to have scored at least 6.5 and above in the IELTS. The ILETS scholarship amount ranges around £10,000 and more. This scholarship is only for Indian students and the benefit can be used to study undergraduate or postgraduate courses anywhere across the globe.

2. The British Council IELTS Award 2021

Only eight eligible students will be allowed the award of INR 3 Lakhs to support the expenses of the tuition fee. This British Council IELTS scholarship 2021 award is only for the students planning to do a course from an English-speaking country.

3. Eligibility Criteria

For the British Council IELTS Award, applicants need to fulfill the following eligibility:

The applicants need to be Indian citizens.
The candidate should have appeared recently for the IELTS at the British Council center.
The chosen educational institution should be considering the IELTS score for admission.
The applicant should have scored an overall score of 6 for the scholarship award.

How to Apply for the Award?

Candidates need to visit the official website of the British Council.
Download the IELTS scholarship form
Fill out the form with the correct details.
Enter the IELTS score
Upload your recent photograph and send it to the provided correspondence address.

More About the British Council IELTS Scholarships

An IELTS applicant can take the advantage of the different British Council Scholarships awarded on the basis of score, qualification, and income of the family. The aim is to support education abroad.

Types of IELTS Scholarships

Charles Wallace India Trust Scholarships
Great Scholarship India
British Council IELTS Award
The Commonwealth Scholarship and Fellowship Program

About Availing Education Loan After IELTS

Education loans have a moratorium or festive season, which is quite advantageous because an applicant is given a time of roughly 6 months after the course ends. The repayment of the student loan will begin after this period, or as soon as the student has secured employment. Education loans also cover the costs of boarding, lodging, tuition, transportation, and other related expenses. You can also check into the question if you have any further concerns at our Study Smart IELTS Coaching in Delhi anytime.

You should be aware that the Central Government has implemented an interest rate grant program for installments made during the moratorium time for the advantage of the poorer sections of society.

When it comes to ‘How to receive a scholarship to study overseas’, passing the IELTS exam and getting the necessary IELTS score is essential.

Characteristics of Education Loans

An education loan will be available to anyone between the ages of 18 – and 35 who wishes to study at any recognized university overseas.
Students may be eligible for education loans for business courses, humanities, architecture, science, hotel industry, and other courses.
A university loan’s expenses include tuition, review fees, lab and library fees, books and supplies, programs, and study trips.
Borrowers who take out loans for international study must put down a 5% to 15% margin.
During the moratorium period, debtors continue paying interest, with the principal expense beginning when the loan’s term begins.
Returning education loans to the lender in monthly installments through ECS or post-dated cheque is possible.
Banks typically authorize tenured college loans for up to 7 years, including the moratorium period.
A co-applicant must be selected for college loans obtained for full-time programs. Siblings, partners, parents, and other relatives may be co-applicants.

The sooner you pay off your loan, the more money you’ll save on interest on the amount. Inquire about any possible prepayment penalty. As a result, a plan for finding work and repaying the debt as quickly as feasible might be devised.

Documents and qualifications

The majority of financial organizations and banks have a set of guidelines for determining loan eligibility. Creditworthiness, educational background evaluation, household income, co-applicant details, and so on are all part of the process. The loan amount issued for study abroad is also determined by the type of the course and the likelihood of finding work after completing the course.

A moratorium is a period given by banking institutions after a program is completed, ranging from six months to a year before payment begins. This is because students require time to find work and establish financial security before repaying their university loans. Due to employment insecurity or unanticipated financial requirements, it may be necessary to extend the duration in some situations.

Thus, scholarships or education loans can be availed after obtaining a score of 6 and above on the IELTS test. The availed amount can be used to fund your study abroad. The scholarship by the British Council is only for Indian students. You can contact our professional career counselors at Study Smart for detailed information on the different British Council Scholarship awards, eligibility, amount, and more. Contact our IELTS Coaching in Delhi today.