Paras Educational Fund - loans for international students

Question

Funding options for international students are quite limited nowadays however there is still an option quoted on many schools' websites - Paras Educational Fund ( https://www.isloan.org )

They are offering 7-9% loans payable in 20 years with grace period during study+6months. Paras is working with international students from ANY country - their key requirement is a US citizen or a green card holder as a co-signor.

There is not much information on the web - I couldn't find any representative recent feedback. Seems like people are either praying or blaming them on different forums but as all accounts are with very few posts info doesn't look very trustworthy. If there is anyone with adequate personal experience on Paras - please share info as it might be extremely helpful for B-School applicants.

In the meantime as I started application with them I'll also share my personal experience.

laman · Answer

I started an application with Paras last week. Entering your schools/GMAT/IELTS you get "preapproved". Then you pay a small amount (~$10) for registration and become eligible for unlimited communication. Some observations so far:
1) email communication is not very effective. phone calls are better but it's fairly difficult to get them answered. However when you finally reach them they are patient/answering all questions clearly etc.

2) amounts in $ quoted at the web-site are using some wierd exchange rates. As a result upfront payments they're requiring for the loan processing seem to be inflated. "Paperwork with co-signor" fee is quoted to be RS11000 or $300 when in fact it is $200. Lessons learnt: pay your fees in RS

3) My fee payment was stopped by risk management department requiring some additional info for fraud prevention. Paras mentioned that transaction has failed and requested to redo however it hasn't - it was simply pending verification. Provided verification documents, got my transaction approved, and my loan application finally started. Lessons learned: read everything carefully and be patient. My redo of transaction might have led to double-payment.

4) Received additional form to fill with basic info - a person living in US was required as a reference. This is NOT a co-signor, I wonder why they need this data at all, but be prepared. As they told me, they do not plan to contact that person re myself - think it's for advertisement purposes.

5) they sent simple and clear form to my co-signor cc myself, so far everything seems to be logical and transparent.

London Business School confirmed that they have not had any experience with them so far, however they quoted them at the website. Feels like being a guinea-pig

turrbbo · Answer

Hey

This was the only genuine post I could find on Paras Foundation. Waiting to hear the rest of the experience. Please share.

Leftcoastguy · Answer

Laman, if you're still around, how did this experience turn out?

Does anyone else have experience with Paras?

Pyiyashah · Answer

Few of my friends recommended paras foundation and I applied with them for NYU-Stern Business School. I got my loan sanctioned and 1st installment will be disbursed on 31st October, 2013. I have no complaints about them.

laman · Answer

My experience with Paras ended up with nothing. When they sent a form to my co-signor, he was shocked by the amount of sensitive data they asked for (i think they wanted a scan of his social security card or smth like that, i can check exact list if it is helpful). He said that only an idiot would share that type of information as it might lead to identity theft, etc. To be fair, to date i don't know if my co-signor was overconservative or they really wanted too much, so i wouldn't dare to say anything bad or good about them - i simply don't know... Unfortunately, it's not helpful to people who plan to try with them but at least you know how my experience ended up. Good luck everybody and please share in details if you manage to get a loan

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Ali Akeel · Answer

Did any one manage to get a loan from them and how was your experience with them either way?

aadeshkranderia · Answer

Thank you so very much for all of your help in securing our loan for my overseas education. You were organized & thorough & professional, as well as kind which made all of the difference in our interactions with you. We put our trust in you and you most definitely came through for us. Our hats off to you!! Thanks again!!

Regards,

Aadesh Randeria

Regards,

Aadesh Randeria

riddhi1993 · Answer

If you aspire to study abroad then you need strong financial back up. If this is where you are stuck up then Paras Education Foundation is what you need. The Foundation helps you achieve your goals. All you have to do is dream big and make it come true by connecting with them. The loan procedure is simple, with low rates of interest and most importantly very helpful faculty. If you are thinking of a loan to back up your education don't hesitate to contact The Paras Education Foundation.

vivekpatani · Answer

I personally have had loan taken and approved from Citizens bank via Paras! They are really helpful and keep a great amount of transparency.

The good thing is that they do not take a lot of your time, since before coming to the states a lot of things need to be taken care of and I'm sure loan is pretty important and filling out things can be time consuming, plus being inexperienced you may make a mistake! Trust me, before coming here let loan be Paras's worry. Get everything else done and spend time with your family.

More importantly, they stick to their word, no extra cost no shady stuff! Just the loan as promised with an interest that is affordable. I'm close to my graduation and there has been no problem so far.

mparikh2 · Answer

Yes!!! Paras Education Foundation is best foundation in proving loans due to following features of this foundation.

1) Transparency

2) No Cheating

3) Easy to go process

4) No too much overhead (i.e. no too much paper work only few of them) and you get the loan.

5) Trustworthy

6) Giving more than enough time for the repayment

7) Less Rate of Interest

8) Co-operative and friendly

9) Always attend your query in positive manner at any time

10) Staff is too supportive

bangdiwalaanjal92 · Answer

They say education is the most important thing for growth. But they failed to mention that money drives education. My biggest dream was to study and pursue a Masters degree from a US university and Paras education foundation helped me achieve that dream. I never faced an issue while applying for an education loan with the kind services they provide. The process was really smooth and hassle free. I got my loan approved with very low interest rates and the disbursements were right on time. Called the helpline number for the repayment procedure and they were very kind and helpful! Paras education foundation takes care of everything, like absolutely everything. I strongly recommend paras education foundation for all of you who wish to pursue your dreams!

ZDave · Answer

Hi Guys,

I understand that financing graduate studies abroad comes with huge financial responsibilities but Paras Education Foundation makes the most important step very easy. The entire process is very simple, hassle free and very transparent. The team is superb, genuinely wants to help students secure their dreams of higher education.

I happened to approach them with a small window to secure my finances. The team extended absolute support and cooperation with the expedited process. All the critical disbursement related processes are handled very meticulously. The loan is offered at a lower interest rate as compared to the commercial banks. Just has one condition the borrower should have a co-signer in US.

Many thanks to TPEF for making it possible for me!

ngandhi · Answer

My experience with TPEF / Paras Education has been really good. ' A BIG Thank you' to Mrs Bharti Madam, and her entire team who have helped in the loan process. This loan by TPEF from US enabled me to take a loan in USD at much better rate. As a result I am definitely at much more ease and reduced tension of high interest rate.!! I would definitely recommend everyone who has a US cosigner should go for this! :-D

piyushb3593 · Answer

I am Piyush Bansal - MS student in the civil engineering program at Virginia Tech, Blacksburg, USA. Like most of the students, getting a hefty loan of $44,000 was a big hurdle between me and my dreams after I got the admit. Went to several Indian banks and found that all of them ask for a mortgage of atleast 1.5-2 times the value of the loan. Didn't work out for me. Then a friend told me to check with Paras Education foundation as they provide loans at a low rate of interest and without any mortgage. I didn't believe it at first, but then I had nothing to lose. So, I decided to phone them. After detailed discussions with them, I discovered that my friend was right. I got a loan of $44,000 in very short amount of time and with very minimal paperwork. I could not believe it would have been so easy to get an education loan.

Therefore, I highly recommend each one of you to check out Paras Education foundation and avail the benefits that they provide. I have shared the same with my juniors and close friends and all of them are in the pipeline to come to USA and start their graduate studies. Good luck!

Paras Education foundation
+91-22-22831637 / 38, +91-22-22832097
Google them up, don't be lazy.

Therefore, I highly recommend each one of you to check out Paras Education foundation and avail the benefits that they provide. I have shared the same with my juniors and close friends and all of them are in the pipeline to come to USA and start their graduate studies. Good luck!

Paras Education foundation
+91-22-22831637 / 38, +91-22-22832097
Google them up, don't be lazy.

simran2017 · Answer

Hi Friends, I would like share my experience with all cause it will benefit all students like me who wish to pursue their education through loans. There is one organisation called The Paras Education Foundation in Mumbai, India. They give loans to all students who want to pursue their studies abroad. With their help thousands of students have been able to successfully fulfill their dream. Their entire processing is so simple and they have an efficient team too who give good service. I must say they are very reliable and you all should approach them if you have a need. I'm sharing their website for everyone's convienience. 
Thanks,
Simran.

Pradeep Naidu · Answer

Is having an US green card holder/citizen as a cosigner must for loans from Paras?

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aniket543 · Answer

Hi, i want to apply for European MBA schools. Can Paras Education foundation help?

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kulpra · Answer

Can you give here you e-mail ID, contact telephone number? I want loan from Paras. I want to see proof from you that you got loan from them.

kulpra · Answer

piyush  Bansal, can you give me your phone number and e-mail ID? I want loan from Paras. I that connection I want to see a valid proof that you got loan from them without collateral security. You are paid employee of Paras.

Paras Educational Fund - loans for international students

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