Financial Guidance
Detailed step-by-step financial guidance — Euro Asia Education Consultancy
Below is a practical, bank-friendly procedure you can publish on your website so Bangladeshi students (and their sponsors) know exactly what to expect when applying for a study-abroad loan through Euro Asia Education Consultancy.
1) Free initial consultation & cost audit
We meet (in-person or online) to review the university offer and produce a full cost estimate: tuition by instalment, tuition deposit, first-year living costs, insurance, visa fees, airfare and a 10–20% contingency. We convert that into a loan requirement and recommended sponsor contribution.
2) Verify admission and get a formal fee schedule
Ask the university for an official offer/acceptance letter plus an itemized fee schedule or I-20/COE (for USA/Australia). Banks require the offer letter and detailed cost breakdown before starting loan processing.
3) Select candidate banks & compare products
We shortlist banks that suit the student’s profile (examples: BRAC Bank, Dutch-Bangla Bank, Standard Chartered Bangladesh, Pubali Bank, Social/Islami banks) and compare: maximum loan amount, moratorium/grace period, collateral/guarantor rules, interest (or profit) rate, fees, and international remittance capability. Many Bangladeshi banks offer dedicated study-abroad products.
4) Prepare documentation (student + sponsor) — checklist we handle
Typical required documents (banks vary):
- Student: passport, recent photos, copy of admission/offer letter, course cost schedule (I-20/COE where applicable), previous academic certificates.
- Sponsor (parent/guardian/co-applicant): national ID, recent 6–12 months bank statements, salary certificate (employer letter) or business trade licence + company bank statements, latest tax return/tax payment receipt.
Collateral/guarantor paperwork if required: property deed, mutation/khatian, khas land documents or acceptable guarantor NID + income docs. Banks routinely ask for bank statements, tax receipts and identity documents as part of eligibility checks.
5) Fill application & submit with supporting papers (we assist)
Euro Asia prepares the bank application packet, ensures every document meets bank formatting rules (e.g., attested copies, translations, certified fee invoices) and submits to the selected branch or relationship manager.
6) Bank credit appraisal, valuation & interview
Bank performs credit checks on the sponsor, values collateral (if any), and may interview the sponsor/student. This stage can include requests for extra documents (e.g., utility bills, employment contract) or a property valuation. Expect follow-ups and a formal sanction letter if approved.
7) Loan sanction letter & signing of documents
When approved, the bank issues a sanction/offer letter listing the loan amount, interest/profit rate, tenure, moratorium (if any), EMI schedule, and conditions (e.g., account to be opened, standing instructions, post-disbursement reporting). The student/sponsor signs the facility documents, provides undated cheques or standing instructions as required.
8) Disbursement — paying the university & setting up remittance
Banks typically disburse directly to the university (via foreign remittance) or to the student’s account in tranches per the academic calendar. Banks will ask for the university’s invoice, beneficiary bank details, and may require proof of visa/registration for certain tranches. Euro Asia will coordinate invoice collection and forward remittance instructions to the bank.
9) Pre-departure financial advice (what we advise you to do)
We help students: open a foreign student bank account (if needed), set up fee payment methods, compare FX options, arrange a small emergency cash buffer, and show how to get fee receipts for future loan tranches.
10) Loan servicing, EMIs and moratorium management
We explain repayment terms: when EMI repayments start (immediately or after moratorium), how interest accrues during study, options for pre-payment, and consequences of late payment. We also help arrange automatic repayments and provide reminders and statements that banks sometimes need for compliance.
11) What if the bank needs extra support (rejections/appeals)
If a loan is declined, Euro Asia will: (a) review the refusal reason, (b) prepare additional documents (e.g., stronger guarantor, alternative collateral), (c) present the case to another lender, or (d) advise on partial self-funding + smaller loan.
12) Typical timeline (estimate)
Processing varies by bank, completeness of documents and whether collateral is required. Typical ranges: document check & pre-approval 5–14 business days; credit appraisal & sanction 7–30 business days; valuation/disbursement another 7–21 days. (Timelines are indicative — banks differ.)
Quick downloadable checklist (for your website box)
Student: passport copy, photos, offer letter, fee schedule, previous transcripts.
Sponsor: NID, salary certificate/employer letter or business documents, 6–12 months bank statements, latest tax receipt/return. Collateral (if needed): property deed, mutation/khatian, valuation papers.
Other: visa copy (if already issued), health insurance estimate, university invoice for each disbursement.
(Examples of bank document lists and product pages: BRAC Bank student services and product pages; Dutch-Bangla loan forms; Standard Chartered student file details; Pubali and SIBL foreign education loan pages.)