April 16, 2019


Words can hardly describe the immense sacrifice that our defense personnel make to keep us safe. We, at Student Cover, salute our soldiers who keep constant vigil at the border so that we can pursue our dreams in an environment, free of terror and violence. We also salute the sacrifice that the spouses, children and other family members of those military personnel too have to make in their lives. Due to this reason, Student Cover feels honored to be one of the proud facilitators of Privilege Loans which is offered by Auxilo to the kin of our soldiers. It is a small but heart-felt tribute to the defenders of our freedom.

For starters, the Privilege Loan is a special concession education loan offered specifically to the children of defense personnel by Auxilo Finserve, a private sector Non-Banking Financial Company (NBFC).
It provides education loans to students who wish to pursue higher education in India or abroad. It is a Mumbai based company founded in the year 2016.

In the last two decades, the growth of middle class has also led to the growth in aspirations of the middle class youth who seek to scale new heights in their professional careers through their skill, knowledge and hard work. This is the reason why the youth of today has no qualms about going abroad for higher studies to gain quality education.

However, most students including children of defense personnel often face financial constrains in their pursuit of higher education in foreign countries like US or Canada. Student Cover helps such student by facilitating education loans at the most affordable rates which students may not get anywhere else.

With student cover, students get the benefit of hassle-free loans according to their needs and requirements. It has tied-up with reputed lenders such as Auxilo Finserv to provide both secured and unsecured loans to students to pay for their tuition fees and living expenses abroad. Some of the benefits of taking Auxilo education loans through Student Cover are as follows:

  1. No processing fee for kin of Defense Personnel – No processing fee is charged from those students applying for education loan from Auxilo who also happens to be dependents of defense personnel. This is applicable in case of both secured and unsecured education loans taken to study either in India or abroad.
  2. Loans designed around the client –Education loans requirements are not the same for all students for all courses. Realizing this diversity, Auxilo designs education loans that best suit the needs and requirements of the students applying for those loans. These loans are engineered to meet different timelines of different courses as well as admission requirements. This puts students in an advantageous position as they can now apply for loans based on their individual needs.
  3. Special benefits for meritorious students – Based on the academic record of the students, the course that they have applied for and the institution that they are applying to, Auxilo offers attractive concessions to the students. This helps those students who are meritorious and have scored well in their academics and admission tests can avail concessions and benefits on loan terms.
  4. Loans for Admission and Visa – Auxilo not only provides education loan to those students who have already taken admission but also to students who are yet to get admission. It’s pre-visa disbursement loan helps students show the college or university in the foreign country that they have sufficient funds to finance the course that they have applied to. Auxilo also releases funds at the time of getting F1 Visa so that they can show the proof of funds in their I-20 form.
  5. Multi-City/Multiple Co-Applicants – Auxilo allows multiple members to be the co-applicants in a loan. This is very helpful in case the eligibility of primary applicant does not fit the required eligibility of the education loan. A student can add multiple co-applicants and in multiple cities in the education loan application.
  6. No Upper Limit – For students going abroad for higher studies, if they fit the required eligibility criteria, they can take as high a loan as possible to finance their studies abroad. And while Auxilo does not require any collateral for unsecured loans, if a student can keep collateral, it also gives concessions on interest rates payable for the education loan taken.

Student Cover assists students in getting hassle-free education loans and at most affordable prices.  Click here to know the process of availing Auxilo education loans through Student Cover.

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