Thursday, 23 April 2015

Education loans made easy: know the rules

Banks in UAE have simple and easy rules for education loans. Here’s a lowdown on what to expect.

The UAE has many premium institutions for primary and higher education, but education costs are prohibitive here. However, the Government is focussed on attracting as many students as possible – both UAE citizens and expats – towards education, and to this end, it has already made the process of applying for an education loan in UAE quite simpler.
The UAE is one of the few countries in the world where leading banks have tied up with universities and colleges to offer students convenient tie-ups that ease the application process. Also, these loans attract a lower interest than say, a personal loan that one would apply for to finance his child’s education.
This is what one needs to know while applying for an education loan in UAE:
Do parents qualify? Based on whether the parent of the student has enough financial wherewithal to repay the loan, the bank will start its preliminary fact-finding into the suitability of the applicant. Fortunately, many banks do not insist on parents transferring their salary to them to avail of the education loan. Also, banks offer extremely easy repayment options for those who do not qualify in the high-income bracket. The Government mandates that parents with incomes as low as Dh 7,000 may also qualify for education loans in UAE.
Part or full loans. Unlike earlier days, parents can avail for an education loan in UAE in two ways: a part or a full loan. A part loan is always an attractive proposition, since it is easy to dispose of and the tenure is shorter. However, applicants must check the interest rates and if these are higher than the rates for full loans, it is better to apply for a full loan and foreclose it by paying a small fee.
How much amount can be expected? This depends on the bank in question, the student’s requirement and the tenure for the loan. Normally, banks will grant a minimum of Dh 10,000 and a maximum of Dh 1,50,000. Most loans are offered over a period of 60 months, with a maximum 16% interest.
There may be discounts with the loan. Some banks offer handsome discounts on tuition fees – the highest component of the yearly fee – which is a boon for students. However, this discount is normally given only for the first year of the loan.

Identifying a Skin Allergy

When an allergic reaction occurs, it simply means that your body is responding to a possible threat. Any foreign substance (antigen) triggers the body’s immune system. The system protects the body from harmful substances, such as toxins and bacteria. This is normal. However, when the immune system “over-reacts,” it causes an allergy. Meaning, there is a hypersensitivity to a harmless substance (allergen). Contact with certain specific allergens might trigger the immune system, rather than having a dormant effect. For successful skin allergies treatment, the first step is to identify the allergen.

A Skin Rash

A rash is the result of an allergic reaction; however, it is not a specific diagnosis. It changes the way the normal skin looks via discoloration and inflammation. The reaction to the allergen might be localized, such as itchy eyes or a spot skin rash. However, in some cases, the allergen can affect the whole body, causing multiple hives, also known as urticaria. Skin allergies treatment largely depends on the person’s immune system response. This is why it is important to consult a specialist, rather than trying home remedies. We can rarely predict how our system would react.

The Allergen

Anything from pollen and dust to shrimp and dog fur can be an allergen. Foods, drugs, insect bites and certain plants are common example. Identifying the trigger is extremely important for proper skin allergies treatment. Here are some common triggers:
1.      Unwanted Scents: Fragrances are one of the most common causes for allergies. However, this is not only related to perfumes. Such ‘allergen fragrances’ might be found in soaps, body washes, shampoos, room sprays and laundry detergents, to name a few. Even the fragrance of natural oils might cause an allergic reaction.

2.      Jewelry: The nickel content found in most jewelry is a common allergen. Apart from jewelry, you can find it in watch straps, glass frames and zippers.

3.      Hair Dye and Henna: A substance called para-phenylenediamine is found in hair dye and black henna. This is a common allergen. One hair dye might not be like the other, so always be sure to take a patch test before using any dye.

4.      Poison Ivy: Poison ivy secretes an oil called urushiol, which might cause an allergic reaction. The same oil is also found in poison sumac, as well as poison oak. However, not everyone is allergic to urushiol. A poison ivy rash spreads fast and might cause redness, hives and blisters. You might need skin allergies treatment to stop the adverse reactions.