A Complete Guide on Education Loan For Fashion Designing In 2022

May 28, 2021

A Complete Guide on Education Loan For Fashion Designing In 2022

The fashion industry today is simply brilliant with an increase in demand for fashion designers and stylists. International brands, malls, in-house brands, and standalone brands, manufacturers, and fashion houses are hunting for budding designers with fresh perspectives from fashion designing colleges. You might want to pursue a career in fashion designing, and an integrated course in this field would do the trick of fetching you a position in this dynamic industry. However, the tuition fees in such colleges are pretty high, given the practical exposure and the other technicalities involved. This is where you stand a chance to secure an education loan for fashion designing. This article contains everything you need to know regarding a student loan for fashion colleges.

Where Can You Study A Fashion Designing Course?

Below is a table listing the institutes you can study in with an education loan for fashion designing across the globe

Fashion School Country
Fashion Institute of Technology New York, US
London College of Fashion London, UK
Westphal College of Media Arts and Design Philadelphia, US
School of Arts, Design, and Architecture – Aalto University Espoo, Finland
Istituto Marangoni International Milan Milan, Italy
Savannah College of Arts and Design Georgia, US

Are You Eligible?

You are eligible for an education loan for fashion designing provided you meet the following requirements:

  • Firstly, you need to comply with the norms, terms, and conditions of the concerned bank to get an education loan. So make sure you give the T&C’s a thorough read
  • The bank will check your previous academic records and the reputation of the college to which you are seeking admission. 
  • Apart from this, there are other terms and conditions of the bank like you need to start repaying the loan once you get a job or after completion of six months from course completion whichever is earlier
  • You need a third-party guarantor for an education loan above 4.5 lakhs and a mortgage of property if the loan is more than 7.5 lakhs and the rate of interest will fluctuate from time to time as per RBI orders.

Documents Required 

To secure an education loan for fashion designing, you must submit the following documents:

  • Your application form for the loan in bank format
  • Proof of entry 
  • Passport size photographs
  • Address and evidence of age if you are not a current bank customer
  • Copies of the transcripts in the qualifying examinations
  • Schedule of fees for the course 
  • Statement of bank account for the last six months of the borrower/co-borrower
  • Income tax statement of not more than two years (students or parents)
  • A concise statement of yours or your assets and liabilities

education loan for fashion designing

Where Can You Apply?

The ease of every foreign education loan operation depends very much on the contract terms of the lending institution. Several lenders are lending a student loan for a fashion designing course. So, how are you going to choose the correct one whose policies meet the financial criteria of your university/college? For example, if the country in which you wish to study is not on your respective bank’s list of countries qualified for an education loan for fashion designing, bank officials will likely fail to process your application. This is one of the most popular challenges confronted by candidates who intend to take advantage of a fashion designing student loan from government banks.

This is where the UniCreds come into the picture. If you apply with us, we can guarantee that the whole student loan phase becomes a piece of cake for you.

How To Apply 

The application process for an education loan for fashion designing courses differs from country to country, however, UniCreds has devised a standardized application process for students. You can simply get started by filling this form here →

Our education loan counsellor will then interact with you to understand your financing needs in detail. Once that is done, you will have to fill out the application form for an education loan for fashion designing after which your details will be transferred to the relevant bank or NBFC. Congratulations! You’re now just an email away from getting your loan sanctioned so that your funds can be disbursed.

To Conclude:

Fashion designers and stylists are in demand today. There are a number of students who are looking forward to getting into the top designing institutes. To meet the exorbitant expenses, students can either look forward to scholarships for fashion courses or they can resort to education loans. To ensure a hassle-free experience, you can find some of the top banks providing education loans for fashion designing. Support your study abroad dreams, enhance your experience, and make the best use of your education loan. 

Thank you for reading this blog on Education Loan For Fashion Designing. If you wish to read more, here are some blogs that might interest you:

PareeshtiWitten by Pareeshti It all started with an impulsive urge to befriend Enid Blyton and be a part of the famous five! Writing since then has been my magic wand and I've used it to sprinkle words like fairy dust and express myself thereat.
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