Pratik’s Study Abroad Loan Success Story: 37 Lakhs Education Loan for UK through Élan

Everyone has a dream, something they truly want to achieve. At first, it may feel impossible to reach what they aspire to, but there is always hope. As Nelson Mandela said, “It always seems impossible until it’s done.” Pratik Baingane lived by this principle. He faced setbacks but did not give up, and eventually, made his dream of studying abroad a reality.

He started by planning everything carefully and following his own path. When his first attempt for abroad loans did not get the approvals, he hoped for, he did not stop. He adapted, planned again, and kept moving forward. What helped him finally get things on track was Élan Overseas Education Loans. With their guidance and clear strategy, Pratik achieved the result he had been aiming for.

If you have tried applying for a study abroad loan and things did not go as planned, do not lose hope. Pratik’s journey shows that with the right direction and determination, every complication can become a step forward, bringing you closer to the dream you thought was out of reach.

Pratik’s Early Plan to Study in the UK

It all started with a simple thought: “I want to pursue a Master in Business Analytics in the UK.” It was an abrupt and raw idea, not fully formed or planned for execution. But this thought soon turned into action, and the application process was initiated. Receiving an offer letter for his dream course, something Pratik had always hoped and longed for, felt like a huge milestone.

However, soon other prerequisites came to light, one of the biggest being the need for financial aid to fund the journey. Pratik tried applying for a study loan for UK on his own but faced rejection. Let’s explore these challenges in more detail and understand what stood in the way.

The Difficulties of Securing a Study Abroad Loan on Your Own

Pratik’s initial plan was to apply for a secured loan through a nationalized bank, with his brother acting as the co-applicant. Collateral was not an obstacle as the family owned a property and was ready to pledge it for the loan. However, despite meeting this key requirement, the loan application was rejected. The exact reason for the rejection remains unclear, leaving Pratik feeling deeply disappointed. 

Unfortunately, because his offer letter had been issued in 2024, he had no choice but to wait and lose an entire year. Still, he remained determined and set sights on reapplying for the loan the following year, this time with professional guidance to ensure a better outcome.

Turning to Élan Overseas Education Loans for Support

In 2025, Pratik approached Élan Overseas Education Loans and explained the entire situation following the rejection in the previous year. The first step Team Élan took was to carefully scrutinize his profile and restructure it to meet the requirements, increasing his chances of approval. They also addressed the negative impact the previous year’s rejection had on his profile.

Based on the Cost of Attendance (CoA), Pratik needed INR 37 lakhs to fund his education, so the team reached out to multiple banks and held in-depth discussions regarding his profile. This time, instead of opting for a secured loan, Team Élan aimed for an NBFC education loan. The choice was premeditated, as NBFCs offered quicker approvals and greater flexibility regarding collateral. Within a brief time, his applications were approved by two financial institutions, and acceptance soon followed.

How Élan ’s Guidance Helped Pratik Achieve His Study Abroad Dream

Team Élan approached leading NBFCs such as Edgro and Poonawalla Corp for Pratik’s study loan. Since his profile had already been strengthened by the team, approvals came through quickly. First, Edgro approved the application, followed by Poonawalla Fincorp.

The main deciding factor then became the rate of interest (ROI). While Edgro offered a competitive rate, Poonawalla presented an even better offer. In response, Edgro reduced their ROI, but it was still slightly higher than what Poonawalla was offering. Ultimately, the Poonawalla Finance education loan was chosen.

Like most NBFCs, Poonawalla Fincorp has a tie-up with HSBC Bank, through which the loan amount was disbursed. The tuition fee was sent directly to the university, while the living expenses were credited to Pratik’s student account.

The Power of the Right Strategies in Achieving Goals

Looking at Pratik Baingane’s case, one thing is certain: with the right strategies, even the toughest roadblocks can be triumphed over. This is exactly what Team Élan focuses on, always aiming for positive results. 

Thanks to their planning and guidance, Pratik is now all set to begin his journey to the UK. His confidence has soared, and his experience stands as undeniable proof of Élan ’s ability to turn impediments into success stories. No matter how difficult the path may seem, never believe that your dream is out of reach. Like Pratik, you could soon be flying to your dream destination. 

Connect with Élan Loans today and your success story could be the next we celebrate!