# How to Simplify the Process of Getting an Overseas Education Loan
Taking an education loan is always a secured funding option for study abroad aspirants. It can ease your financial burdens in many ways and provide financial security till the time you complete your degree. An overseas education loan not only keeps your savings intact but also provides you with tax benefits under Section 80E of the Income Tax Act.
If you are planning to take a [loan for higher education abroad](https://www.elanloans.com/), then you should keep reading this article to know how to simplify the process of getting an overseas education loan. Approach an Overseas Education Loan Consultancy to get education loan assistance, this will help you finance your education with minimal obstacles.

How can an Overseas Education Loan Consultancy Assist You in Simplifying the Loan Process?
The experienced education loan counsellors will provide complete loan assistance to you as per your profile and requirements. They will provide step-by-step guidance for your entire loan processing, and they have the highest loan success rate. Keep reading to know the way how an overseas education loan consultant would simplify your loan application.

## **1.Counselling and Complete Profile Evaluation**
This is the first and most crucial step in the overseas loan application. The education loan counsellors will initially counsel you and understand your profile and requirements. At this stage, you can talk about your loan preference and if you want to take a secured or unsecured overseas education loan. Then they will enquire about your financial history. The advisor will then create your profile and discuss your loan eligibility.

## **2. Academic Documents Check – add backlog and gap year importance**
Documentations play a major role in loan processing; you need to have the complete list of documents that are required for loan applications. Add complete documents of your backlogs and gap year certificate if there are any. Many applications get rejected because of the lack of documents. The education loan counsellors will check if you have any missing documents and guide you with the next step.

## **3. Financial Documents Check**
This is the most crucial and confusing stage in education loan processing. Every profile is different, and every applicant requires different kinds of documents to submit to their loan providers. Education loan counsellors will properly check all your documents. This will simplify your loan application process and save time as well.

## **4. Bank Loan Processing**
Once all the documents are ready and got checked by the education loan counsellors. The overseas education loan consultancy will then initiate your loan processing in the bank. All your documents will be submitted to the bank, and it usually takes anywhere between 10-25 working days to get the loan processed and sanctioned.

## **5. File Tracking**
After the loan processing is complete, the education loan counsellors will keep a track of your file and you need not worry about taking any follow-ups. Seeking expert help will simplify the loan processing for you and in the meanwhile, you can focus on other important tasks for your study abroad journey.

## **6. Loan Sanction and Disbursement**
When the loan sanction letter is released, your education loan counsellor will update you on the loan disbursement process. You would not require going back and forth to the bank every time you have any doubts, the education loan counsellor will assist you in every stage.

Taking assistance from overseas education loan consultants will simplify the loan process for you. If you want to take an unsecured or [secured overseas education loan](https://www.elanloans.com/blogs/collateral-security-for-overseas-education-loan), you can schedule an appointment with any of the best overseas education loan providers.