The modern world generates mountains of data every second of every day. Data affects and transforms every aspect of our lives. If you find yourself fascinated by the data and the reality it conceals or reveals, a bachelor of statistics is just the degree for you.
A bachelor of statistics will teach you how to identify, separate and interpret data by building a solid foundation in probability, statistics, and numerical analysis. Furthermore, a bachelor of statistics is also your gateway to the fabled world of AI and machine learning.
Several reputed universities provide a bachelor of statistics degree. However, a multi-year university education from a good institution can often dent the savings. While scholarships exist, they are few and highly competitive. Education loan is a good idea for a hassle-free education experience. Read further to learn more about education loans for bachelor of statistics.
What is a bachelor of statistics?
A bachelor of statistics is a three-year undergraduate program focusing on data interpretation, numerical analysis and statistics.
To apply for a degree in statistics, you must have completed your senior secondary (10+2) education with mathematics as one subject from a recognized board with at least 50% marks. You also need to clear one of the following exams in addition to your 10+2 to be eligible for a bachelor of statistics:
1. Common University Entrance Test (CUET): CUET is a national exam for entry into central universities in various subjects. This exam is usually held in May/June every year.
2. Indian Statistical Institute (ISI) admission test: This exam is for admission into the prestigious Indian Statistical Institute. This exam usually takes place in May every year.
3. National Test for Programs After Twelfth (NPAT): NPAT is for entry into the various undergraduate programs, including bachelor of statistics in NMIMS, Mumbai. The testing window for NPAT is usually from January to May each year.
How much does a bachelor of statistics cost?
A bachelor of statistics will cost you annually from Rs. 20000 to Rs. 150000 (average), depending on the university, with public universities costing less than private. The cost breakdown consists of tuition, accommodation, and internship (depending on the university), as well as food and examination costs.
What is the scope of a bachelor of statistics?
A bachelor of statistics has excellent scope in the financial, banking and artificial intelligence sectors with attractive salaries and steady growth. Some of the job profiles you can explore with a bachelor of statistics are as follows:
1. Data analyst: As a data analyst for a company, you will prepare, transform, interpret and present data for various clients or applications. As a data analyst, you can expect a starting salary in the range of 7 LPA.
2. Statistical analyst: In this core statistics job profile, you will interpret data using statistical techniques and prepare behavioural models for various applications. The starting salary in this profile is around 9 LPA.
3. Statistician: This job profile will require you to engage in decision-making based on data interpretation. The average salary for this role is 5-6 LPA.
What are the documents required for a bachelor of statistics education loan?
The documents required to apply for a Bachelor of statistics education loan include:
1. Identity proof: Identity proof includes a passport or a PAN card.
2. Applicant academic documents: These include your 10th and 12th mark sheets. You will also require a valid admission exam score (CUET, NPAT, etc.). Some financial institutions can also require admission confirmation from the university.
3. Fee structure: Some lenders can ask you to submit the prospective fee structure of the university you plan to enrol in.
4. Financial documents: Some standard financial documents for an education loan application include a guardian’s salary slips and income tax returns.
Concluding thoughts
A bachelor of statistics degree is an excellent investment with a high potential return on investment. With rapid advancements in the field of machine learning and AI, the number of jobs in the statistics field will rise exponentially. With a bachelor of statistics from a good university, you can expect a high-paying job with consistent career growth.
After securing admission to a good university for a bachelor of statistics, you must tackle the question of funding. Instead of using your savings, consider an education loan to cover your expenses.
Tata Capital provides secured and unsecured education loans with pre-admission sanction facility at attractive interest rates. Apply education loan at Tata Capital for a smooth education experience.
05 December 2024
4 mins read
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