Hey Aaron,

The student loan EMI calculator will help you understand the amount of EMI you will have to pay on your loan. This allows you to plan and manage your finances better and ensures that you take a loan that you can afford to repay without any added stress. You need to know the current interest rate, the loan amount, and repayment tenure.

The mathematical formula to calculate the EMI is EMI = Loan amount × interest rate × (1 + interest rate) tenure in the number of months divided by ((1 + interest rate) tenure in the number of months – 1).

You can look at several sites to find the EMI calculator and the best student loan calculator, which is easy to use, quick, free, and accurate.

]]>Hey Aarti,

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.

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