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Education Loan

Your ultimate guide to study abroad in 2023: Popular educational destinations, courses, preparations and more

Summary: If you are shortlisting the best countries to study abroad, then you must be well-versed with the most sought-after courses by Indian students. Learn about the documents required to study abroad, along with the popular entrance tests and the admission process.

06 Sep 2023 by Team FinFIRST

If you are considering international education, you must know which are the best countries to study abroad and how you can process your application. For this, you must carry out a detailed comparison and assess the nuances of each. They can include visa terms, admission criteria, fees, living costs, entrance exams, course options, and more. 

Here are the leading international education destinations, along with popular courses, documents required to study abroad, and other crucial details.

Best countries to study abroad


Here is a list of the best countries to study abroad for Indian students across different specialisations – 

· USA 
 

It is home to reputed universities like Harvard, Stanford, Yale, NYU, etc. and is a popular destination for engineering, law, and management courses, amongst others. 

· UK 
 

 The United Kingdom is a popular destination for Indian students seeking admission to medicine, law, and management courses.

· Canada 
 

 Canada attracts Indian students interested in engineering, hospitality, fine arts, and other streams.  

· Australia

Australia is home to prominent universities like ANU, Monash University, and others. Popular courses here are accounting, engineering, and management.  

· New Zealand

New Zealand is rated as one of the best countries to study abroad, with courses in engineering, hotel management, and accounting.

· Singapore
 

 Singapore is a prominent education destination, with popular courses being architecture, tourism and hospitality, business management, and artificial intelligence.

· Germany

Many Indian students pursue medicine and engineering courses at leading universities in Germany.

· Ireland 
 

 Ireland is a popular education hub for students seeking specialisations in accounting, management, and engineering courses.

· France

Home to some of the finest culinary and fashion management universities, France is regarded as a popular overseas education destination.

· Italy

Italy is another well-known education hub known for its courses in hospitality, engineering, and medicine. 

Also read - Education loan eligibility for students: Challenges and solutions



Popular courses for Indian students


Here is a list of popular courses available in the best countries to study abroad for Indian students -

· Analytics
 

University of Oklahoma (US), MIT (US), and Georgian College (Canada) are the leading options to pursue a specialisation in analytics.

· Engineering 
 

Technical University of Munich (Germany), MIT (US), and Sapienza University of Rome (Italy) are known for their engineering programs.

· Medicine
 

University of Oxford (UK), University of Melbourne (Australia), and University of Milan (Italy) are well-known for their medicine specialisations.

· Computer Science
 

 California State University (US), MIT (US), and Curtin University (Australia) are known for computer science courses.

· Management
 

HEC Paris (France), HEX Montreal (Canada), and Trinity Business School (Ireland) are amongst the leading business schools globally.

Benefits of studying abroad


Here are some of the benefits of attending some of the best universities to study abroad for Indian students - 

· Quality education
 

Most of these colleges offer experiential learning where they prioritise research and innovation, promoting well-rounded knowledge. They are known for their global collaborations that allow you to pursue a few semesters at other partner universities. All these factors enhance the quality of education manifold.  

· Personal growth
 

When you choose international education, you step out of your comfort zone. Experiencing a different culture, making friends from various backgrounds, and trying new cuisine further develop your personality. You also learn to manage multiple tasks, handle tough situations, and, in turn, become more resilient.  

· Language skills
 

 While English is a preferred medium of communication, you have the opportunity to get acquainted with more than one language. It will improve your communication skills and open up better career prospects in different fields and countries. 

· Career growth
 

Many employers prefer international degrees. They believe that such candidates have skills like global awareness, adaptability, cross-cultural understanding and more. You are also likely to form a global network of friends in different countries that can open up more work opportunities. 

Important entrance exams

If you wish to secure admission at universities in some of the best countries to study abroad, here are the entrance exams you might have to prepare for -

· IELTS
 

International English Language Testing System (IELTS) is an English language proficiency test. It features four modules i.e., reading, writing, speaking, and listening. The minimum IELTS score required by most universities is 5.5 bands in each module. Though, some of the top universities might require a higher IELTS score. 

· GRE

Graduate Record Examination (GRE) is a popular test for admission to graduate courses at leading universities. This test assesses students’ abilities in quantitative reasoning, analytical writing, and verbal reasoning. The minimum GRE score is 260 (excluding the Analytical section).

· TOEFL
 

Test of English as a Foreign Language (TOEFL) is another popular English language proficiency test. It measures the abilities of students in reading, speaking, listening, and writing. Most universities in the US require a TOEFL score in the range of 70-90.

· GMAT
 

Graduate Management Admission Test (GMAT) is another popular test accepted by several international business schoolsIt tests students on integrated reasoning, analytical writing, verbal, and quantitative skills. The average GMAT score is around 565, but leading US universities require a score of 730 or more.

Documents required to study abroad
 

To secure admission at prominent universities in the best countries to study abroad, you must keep the following documents ready -

  •  Valid passport with validity of more than the entire course duration
  • Valid student visa 
  • Offer of admission from the university or college
  • Academic transcripts and mark sheets (in English)
  • English language proficiency test results (as required by the university)
  • Insurance documents (health insurance, life insurance, others)
  • Financial documents if applicable (bank statements, FD receipts, scholarship letters etc)
  • Education Loan statement (if available)
  • Statement of purpose (required by some universities)
  • Letter of recommendation (from teachers or business associates)
  • Passport-size photographs
  • Medical test reports (if prescribed by the embassy)
  • Resume
  • Other documents required by the university or embassy

Admission processes


The admission process varies across universities, but you must be prepared with the basic knowledge, such as -  

· Research
 

Learn more about the leading universities. Understand the admission requirements before shortlisting preferred universities. 

· Entrance exam
 

You must prepare thoroughly for the relevant entrance exams prescribed by the university. IELTS, TOEFL, SAT, and GMAT are some of the popular exams required by universities.

· Prepare documents
 

 You need to collect all documents to study abroad as recommended by the universities. Make sure all the documents are in English or are translated into English by an approved agency. You will also need to write a Statement of Purpose (SOP).

· Application

 

You can apply directly to the university using the online application portal. You may also visit admission events organised across the country to submit your application. Submit the documents and pay the prescribed fees, if required. 

· Offer letter

 

If your application is approved, the university will provide you with an offer letter. This letter features all details related to your admission. 

· Education Loan

If you have to apply for an Education Loan, start the process now. It can take a few days for the process to be completed. For instance, IDFC FIRST Bank offers Education Loans for up to 100% of the cost with low-interest rates. 

· Apply for the visa
 

You must fill out the visa application form with the concerned embassy. Submit all the documents along with the completed form and prescribed visa fee. Visa approval can take anywhere from a week to a few months.

· Departure preparation
 

While the visa process is going on, scan Facebook groups to find out if there are other students near you, join WhatsApp groups, and use the internet to learn more about life at the university.  

Also read - How to pay off your Education Loans quickly?

To wrap up
 

An IDFC FIRST Bank Education Loan is one of the best ways to finance your studies at leading universities in the best countries to study abroad. They come with perks like low-interest rates starting at 9% per annum, an easy application process, loans for over 23,000 courses at 3200+ universities, and more.

With loans of up to Rs 1 Crore, IDFC FIRST Bank Education Loan is your true education partner to pursue the desired course at your dream university. Learn more about IDFC FIRST Bank Education Loan.


 

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