The answer to this question depends on a lot of factors-
Now that you have this amount in hand, check if your and your parents’ savings are enough to cover more than half of your education expenses. If not, you will be needing a student loan for abroad studies.
When you apply to universities abroad and get an admit, the institution will ask you to share proof that you have enough money to spend on your studies. The kind of documents you have to show for proof will depend on which country you have applied to.