PARAS EDUCATION LOAN

[Gammarays]

Hello friends, who among you are considering to apply for the student loan offered by The Paras Education Foundation? The monthly interest rate they charge is much lower than that charged by Indian banks, also, there are other benefits like no collateral security and easy repayment terms. All they ask for is a US co-signor (green card holders also eligible). I am seriously considering this loan as my major source of funding. If anyone has applied/is planning to apply for the loan, then please comment here so that we may have further discussions on this. Thanks in advance.

 

[sanvi]

Hello friends, who among you are considering to apply for the student loan offered by The Paras Education Foundation? The monthly interest rate they charge is much lower than that charged by Indian banks, also, there are other benefits like no collateral security and easy repayment terms. All they ask for is a US co-signor (green card holders also eligible). I am seriously considering this loan as my major source of funding. If anyone has applied/is planning to apply for the loan, then please comment here so that we may have further discussions on this. Thanks in advance.

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Hey hi... Can u please tell in detail abt ths foundation..

 

[Gammarays]

Hi sanvi, this is a foundation that offers student loans at preferential rates and easy repayment terms. According to their website, the repayment period can be as long as 20 years, so there's minimum pressure on the student. I won't be able to provide collateral security required by Indian banks for loan amount exceeding INR 750000. So this option appears to be good for me. Another thing is that the university you're applying to has to be pre-approved by the organization; if not then there will be several procedural problems, which I encountered this year. You can find detailed info on the website isloan(dot)org.

 

[J5M]

Hi,

Hello friends, who among you are considering to apply for the student loan offered by The Paras Education Foundation? The monthly interest rate they charge is much lower than that charged by Indian banks, also, there are other benefits like no collateral security and easy repayment terms. All they ask for is a US co-signor (green card holders also eligible). I am seriously considering this loan as my major source of funding. If anyone has applied/is planning to apply for the loan, then please comment here so that we may have further discussions on this. Thanks in advance.

You will get refused by the CHC (India). The said entity is not in the list of acceptable financial institution for education loan.

 

[Gammarays]

@J5M Yeah, but that list on the CHC website is of Indian banks, and this foundation is not an Indian bank. So I think there might be some workaround. Or have you personally communicated with the CHC?

 

[J5M]

Hi,

@ J5M Yeah, but that list on the CHC website is of Indian banks, and this foundation is not an Indian bank. So I think there might be some workaround. Or have you personally communicated with the CHC?

That list cover Indian banks (governed by the RBI) & all international banks operating in India.

 

[meagan99]

from their website, i think it can be a scam where they first ask you to deposit processing fee and then never ever talk back to you.

 

[Gammarays]

@meagan99 Yes you're right, they have different processing fees according to the sum to be borrowed. But I think this is not a fake organization, as I've seen a thread named after them in the Edulix forum, where some people wrote they indeed got the desired loan. Also, Telfer's official website mentions them as a funding source. In any case, these won't matter if they are not eligible to grant loans to Indian students for studies in Canada. Many thanks to J5M for cautioning me in advance, mate you saved me from a terrible failure.

 

[darsh94]

So if you are planning to study in USA and have an eligible co-signer, then Paras Education Foundation is what you need. They have helpful councilors and resolve all doubts one might have about the loan process. You don’t have to pay all the money upfront, they will charge you only after the loan is conditionally approved.
All those who say that paras education foundation is a scam, don’t believe them, for if you have a eligible co-signer-your loan approval is guaranteed. I got my loan sanctioned recently.
Cheers !
-Darsh

 

[scylla]

So if you are planning to study in USA and have an eligible co-signer, then Paras Education Foundation is what you need. They have helpful councilors and resolve all doubts one might have about the loan process. You don’t have to pay all the money upfront, they will charge you only after the loan is conditionally approved.
All those who say that paras education foundation is a scam, don’t believe them, for if you have a eligible co-signer-your loan approval is guaranteed. I got my loan sanctioned recently.
Cheers !
-Darsh

You obviously work for them. Your post proves Paras Education Foundation is a scam.

 

[darsh94]

You obviously work for them. Your post proves Paras Education Foundation is a scam.

I hope that you are joking. If you are not, well you just might be another victim of IGNORANCE.
Good luck for your future endeavors.