Many of us dream of pursuing our higher studies abroad or in other major domestic cities, but limited resources often put a dent in our aspirations. At the same time, rising costs of education worldwide have led to major issues for aspiring candidates. It is not just enough to apply for an education loan or any other form of credit; these funds majorly go into paying for the tuition fees and living costs of applicants. They also require repayment once students complete their courses.
There are many other last-minute costs of higher education that we mostly forget to account for. These include the following:
- Visa application fees
- Administrative and other costs at the educational institution
- Costs of purchasing gadgets, clothing, and other essentials for the stay
- Deposits on rented accommodation, if university accommodation is hard to come by
- Paying charges for activities, student societies, and the like
- Paying the flight fares
These can be a few of the numerous such sudden costs that come into the picture, leading to a stressful financial situation for most applicants. This is where there is a pressing need for online loans or instant personal loans, which can help enable easier credit access. With the passage of time, digital loan apps or lending platforms like LazyPay are making it easier than ever to get short-term funds to take care of these short-term expenses.
How to get an instant personal loan online
With educational costs, time is of the essence since there are admission, flight, and visa schedules involved in the process. Hence, students will not have time to go through heaps of paperwork and lengthy documentation, as required in many cases for conventional personal loans. They can simply download the LazyPay app and then register here with basic information. After checking their eligibility and getting their credit line, they can apply for loans from the same. These require uploading a few documents and everything else is done digitally, including signing the loan agreement, authorizing auto-debit of the EMI account from one’s account, and other formalities. Once everything is done, final approvals are obtained within two working hours.
Thereafter, the funds are swiftly disbursed to their respective accounts by LazyPay. This is where instant personal loans can be taken without any complications. Once you get your credit line, you can withdraw money from the same whenever you need funds urgently. After successfully repaying the loan for the first time, you can subsequently enjoy one-click loan facilities for the next time as well. This helps you get credit access anywhere and everywhere. This works as a boon for meeting all these sudden and unforeseen costs that are not calculated while applying for higher education programs at leading institutions. With the rise of online loans, candidates need not struggle to meet such expenses routinely. In fact, those studying in other Indian cities can periodically use and repay credit from their respective credit lines at LazyPay, to meet sudden costs. Another reason why personal loan apps like LazyPay are preferred over traditional bank loans are the convenience they offer in terms of processes and paperwork. With traditional banking systems, you need to submit a number of attested documents, which can sometimes be difficult to find and can take a number of days to process. In comparison, personal loan apps offer speedy disbursals after completion of the users’ KYC verification process, giving them access to the funds they need quickly.
So if you are applying to study at a reputed institution either abroad or in the country, make sure that you have obtained a credit line from LazyPay, so that you can quickly meet these additional expenses at short notice. Let’s face it; depleting one’s savings is never a good idea. Rather, it is best to take short-term credit and repay it with convenient EMI plans. This will also boost one’s credit score considerably if the loan is repaid in time and without any defaults. Here’s to a smoother educational journey ahead for all aspirants, with digital lending to the rescue for sudden and short-term expenses.