Get the Tata Capital App to apply for Loans & manage your account. Download Now

Blogs SUPPORT
Loans For You
Loans for Business
Investment
Insurance
Apply

Quick Links for loans

Quick Links for Insurance

Investment

Offers Quick Pay
Back

Equipment Finance

Avail Digital Equipment Loans
up to Rs. 1 Crore

  • Attractive ROIs
  • Customizable Loan tenure
Know More
Back

Equipment Leasing

Avail Leasing solutions
for all asset classes

  • Up to 100% financing
  • No additional collateral required
Know More
Back

New Commercial Vehicle Financing

  • First time user
  • Retail and strategic Clients
Know More
Back

Used Commercial Vehicle finance

  • Repurchase
  • Refinance
  • Top up
  • Balance Transfer
Know More
Menu  
 
Apply Now

Tata Capital > Blog > COVID-19 > Coronavirus > After-effects of Coronavirus on International Education

CoronaVirus

After-effects of Coronavirus on International Education

After-effects of Coronavirus on International Education

In 2019, more than 7.5 lakh students from India were selected in overseas universities for higher education programs (1). However, this year, the global outbreak of COVID-19 and the resulting travel restrictions have jeopardized the aspirations of many students. Visa applications for the upcoming academic session are stalled. The SAT exams essential for admissions into many reputed universities have been canceled. 

Know More About Education Loan

In this scenario, if you too were planning to head abroad to study, you might be at sea wondering whether to apply for an education loan now or wait a while. Here’s a look at the potential aftermath of COVID-19 on international education to find out how you can still pursue your dreams:

The emergence of online education and the need for student loans

In today’s digital age, most educational institutes have the bandwidth to tutor through virtual learning platforms. Such practices eliminate large gatherings in confined classrooms and engage students without any health hazards. Many universities around the world have already switched to an online learning mode and are considering its efficacy for potential international students.

However, to strengthen their technological infrastructure and facilitate the shift of study programs online, educational institutes might have to revise their fee structure. Nevertheless, the high costs of studying abroad should not deter you from your plans for international education. You can apply for student loan to fund your schooling in any foreign university of your choice.

Additional Read:- Will Coronavirus Exacerbate India’s Economic Slowdown?

The future of on-campus education    

future of on-campus education

Laboratory-based courses like science and medicine call for practical applications of theoretical knowledge. Additionally, not every student may have an adequate setup at home for online learning, like computers and high-speed internet connections. Consequently, the entire education system cannot be migrated to a web-based platform permanently.

Interestingly, in a recent survey by a leading global education network, a vast proportion of prospective international students revealed that they would not alter their plans to study abroad despite the pandemic. Fortunately, the traditional age group of university students does not fall under the high-risk category of COVID-19. So, once educational institutes resume regular classes after the health crisis stabilizes, you can apply education loan online to seek admission into a reputed institute abroad.

The upshot on educational institutes 

International students make up a significant percentage of revenue sources for universities worldwide. In the US alone, Indian students encompass 18.4% of the overseas student population . However, as a ripple effect of the pandemic, several potential students may decide to defer their admission. 

In this scenario, universities might decide to be flexible in terms of admission and enrolment deadlines and application materials necessary for international students. Thus, this appears to be the perfect time to avail personal loan for students and arrange for finances to pursue your international education plans.

Additional Read:- What are the Steps Taken by the Government to Fight Coronavirus in India?

Conclusion

Now that India is under lockdown, you can utilize this time to research financial institutions offering the best deals, prepare all documentation work, and understand the education loan process. Tata Capital provides such loans at attractive interest rates. You can check your personal loan eligibility now and move ahead with your study plans once normalcy is restored.

Apply Now
Check EMI

Disclaimer

Most Viewed Blogs

Trending Blogs

Calculator

Personal Loan EMI Calculator

Personal Loan EMI Calculator
Home Loan EMI Calculator

Home Loan EMI Calculator
Business Loan EMI Calculator

Business Loan EMI Calculator
Used Car Loan EMI Calculator

Used Car Loan EMI Calculator
Two Wheeler Loan EMI Calculator

Two Wheeler Loan EMI Calculator
Loan Against Securities Calculator

Loan Against Securities Calculator
Loan Against Property Calculator

Loan Against Property Calculator
More Tools
Our Subsidiaries
Our Other Websites

Useful Links and Resources

Most Important Terms & Conditions - Home Loans

Download in your preferred language

Download

Policies, Codes & Other Documents

Most Important Terms & Conditions - Home Loans

Download in your preferred language

Download

Tata Capital Solutions & Services

Uh oh, something went wrong

Please try again later.