If you’ve completed your MBBS and are looking for higher education opportunities, pursuing a Master of Surgery (MS) program is the natural progression. With an MS degree, you can improve your prospects of securing high-paying jobs, taking up leadership positions and being a part of advanced medical research teams.
An MS degree equips you with the skills necessary to perform complex medical procedures and lead medical teams in the highly demanding and specialised field of healthcare. However, MS programs in Indian universities can be expensive. This is due to high demand and limited seats in most universities.
A practical way to fund your MS ambitions can be through an education loan. In this article, we explore education loans and how to apply for them successfully.
What is a Master of Surgery(MS) degree?
Master of Surgery(MS) is a three-year postgraduate program in the field of medicine. This degree is awarded after completing advanced studies in a surgical speciality. This degree is usually pursued by students who have already completed their basic medical degrees.
Through this program students get familiar with advanced theoretical concepts and are exposed to extensive practical training in various surgical procedures, techniques and patient care. MS programs are available in various surgical specialities. Some common specialities include General Surgery, Gynecology, Ophthalmology and Orthopaedics.
After completing a Master of Surgery degree, the most popular path is to join surgical teams and manage patient care at hospitals. With experience in your speciality, you can become a consultant surgeon. You can also establish a private practice or contribute to academia and research.
Eligibility for MS in India
To pursue a Master of Surgery degree in India, you must meet the following criteria:
1. You must have an MBBS degree from a medical college recognised by the National Medical Council.
2. You must have completed a one-year internship before the academic year for your MS program begins.
3. You must clear the NEET PG entrance exam and achieve a minimum qualifying percentage of marks in your MBBS program.
Cost of pursuing an MS in India
The cost of pursuing an MS in India varies based on which university you choose, the location and the MS specialisation. On an average, in public universities and colleges you may pay between Rs. 50,000 to 1.5 lakhs per year. If you decide to pursue an MS program in a private institution your Master of Surgery course fees in India may range from Rs 16 to 50 lakhs per year.
Apart from tuition fees, you would also have to cover expenses such as hostel fees, mess fees, book costs, and other personal expenses. If you choose to study in a bigger city, your living expenses can be quite high.
Education loans for MS
Tuition fees alone for an MS degree can be quite expensive. To cover these expenses, you need sound funding for your education for all three years. Paying for these expenses out of pocket may not be a possibility for most. This is where education loans come to your rescue.
Education loans for MS in India make it possible to pursue your desired specialisation without worrying about financial constraints. You can concentrate on your education and clinical practice while the loan takes care of your tuition fees, living expenses and other study-related expenses. An MS degree translates to high-paying loan opportunities. This means you will be able to repay the loan comfortably.
In India, interest paid on education loans qualifies for tax deductions, and you will also be able to build a good credit score if you make timely payments.
To apply for an education loan in India, follow these steps:
1. Check the eligibility criteria of the lender and see if it covers the MS program in the university of your choice.
2. Collect documents such as identity proof, residence proof, proof of admission, fee structure details, income proof and academic documents.
3. You can apply for the loan through the lender’s website. Make sure to fill in the application form carefully to avoid rejection.
4. Once the loan is approved, the tuition fee amount will be transferred in instalments directly to the educational institution.
Final thoughts
If you are an aspiring Master of Science student, education loans can be a great way to move closer to your dreams. With the right loan, you can advance your career without exhausting your savings. You can also benefit from the tax deduction and credit score-building benefits that education loans offer.
Consider Tata Capital for all your study loan needs. Tata Capital offers specialised education loans at attractive interest rates with flexible repayment plans. You can also secure pre-admission sanction and get loans approved with a zero-margin money requirement.
05 November 2024
4 mins read
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