Benefits of Education Loan in India for Study Abroad

Free Services

Say goodbye to hidden charges with study loans for abroad. Transparent and cost-free, we're here to support your aspirations every step of the way!

Hassle-Free, Online Process

No more paperwork woes! Experience a seamless online process, ensuring your journey to foreign education is smooth and stress-free.

Up to 100% finance covering tuition fee & living costs

Enjoy up to 100% finance that covers both your tuition fees and living costs, making your study abroad experience truly fulfilling.

Flexible Repayment

With flexible repayment terms spanning seven to 20 years, you can design a plan that fits your unique circumstances like a glove.

Pay after Education

Begin repayment only six months after your classes end, giving you ample time to find your feet in the world.

Easy EMI Options

Enjoy competitive interest rates and affordable EMIs.

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Eligibility Criteria for
Study Abroad Loan in India

To ensure you meet the study abroad loan eligibility, take an eligibility test on the loan provider's website. While each bank might have its own specific guidelines, here are the general terms and conditions followed in the process of granting an education loan:

  • Proof of Indian nationality.
  • A strong academic background.
  • Acceptance letter from a reputed overseas university, institution, or college.
  • Enrolment in a professional or job-oriented course.

Documents Required to Apply for
Education Loan for Abroad Studies

Here's a comprehensive list of documents required to apply for an education loan for overseas education:

  • Education loan application form with accurate and up-to-date information.
  • Passport-Size photos.
  • Photo ID proofs like PAN card, Voter ID card, Aadhar Card, etc.
  • Proof of residence.
  • Academic records, including mark sheets and certificates of the applicant.
  • Score reports of standardized tests like GRE, GMAT, TOEFL, IELTS, etc.
  • Admission letter from university.
  • Bank statements
  • Income proof

Remember that each study abroad loan provider in India may have specific requirements, so it is essential to check for any additional documents your lender may need to provide a loan to study abroad.

How to Get an Education Loan for Studying Abroad?

To navigate the process of securing an education loan for studying abroad, follow these steps:

Step1: Research Your Lender

Begin by researching various lenders and their education loan offerings. Look for lenders who specialize in study abroad loans and offer competitive interest rates, flexible repayment options, and favorable terms. Compare their offerings to find the best fit for your needs.

Step 2: Determine Loan Amount and Eligibility

Assess the total cost of your study abroad program and determine the loan amount you require to cover these expenses. Check the lender's eligibility criteria to ensure that you meet the necessary requirements.

Step 3: Gather the Required Documents

Gather all the documents specified by the lender.

Step 4: Apply Online or Offline

Most lenders offer both online and offline application processes. Choose the one that is most convenient for you.

Step 5: Co-Applicant Involvement

In many cases, lenders require a co-applicant, usually a parent or guardian, whose financial stability and creditworthiness can strengthen your loan application.

Step 6: Loan Approval and Disbursement

After the lender approves your application and documents, the loan amount will be disbursed as per the lender's policy.

Step 7: Seek Expert Guidance

If you are unsure about the process, seek expert guidance from education loan counselors or financial advisors. They can provide valuable insights and help you make informed decisions.

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Education Loan
Providers

HDFC Credila

HDFC Credila has funded thousands of students pursing their higher education across

50+

Countries

3,400+

Institutes

1800+

Courses

Prodigy Finance

30000+

students

150+

countries

1100+

schools

$1.5 billion

funded

Gyandhan

institutions Partnered

500+

Loan sanctioned Worth

50cr+

Leaders Brought Onboadrd

10+
HDFC Credila
Prodigy Finance
Gyandhan

How can Career Launcher help you?

We recognize the significance of financial aid for students seeking education abroad. As such, we provide guidance in obtaining education loans. Through partnerships with reputable loan providers, we ensure that students find the most suitable loan options based on their financial circumstances and requirements. Our strong collaborations with top education loan providers enable us to offer a comprehensive range of financing options with competitive interest rates, flexible repayment terms, and reasonable loan amounts.

In addition, our expert counsellors work closely with students, evaluating their profiles, academic backgrounds, and future aspirations. With personalized advice on financial planning, students feel empowered to make informed decisions and choose loans that align with their academic requirements. Knowing that we are committed to guiding students throughout the process of education loans, aspiring scholars can confidently embark on their study-abroad journey. Join us and let’s pave the way for your brighter future together.

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Other Services

Student Accommodation
Student Forex
GIC
VISA Assistance

Explore Study Abroad Destinations

USA
UK
Canada
Australia

FAQs

The duration of the approval for a student loan in India for study abroad can vary depending on the lender and one’s loan application. Under ideal circumstances, one can anticipate receiving their loan approval within 7-10 days after submitting all necessary documents to the lenders. However, if there are any complexities in the application, the process might extend beyond a month before the loan is sanctioned.

Yes, certain financing institutions and banks, like HDFC Credila, offer 100% finance. However, with some lenders, it's not always guaranteed. In the majority of education loans, the student or their parents/guardians are expected to contribute a certain percentage of the total expenses as a down payment.

Education loans are a viable and beneficial choice for financing overseas education. They offer financial support to cover essential aspects such as tuition fees, living expenses, travel costs, and other related expenditures.

Education loans usually cover various expenses, including tuition fees, accommodation charges, travel expenses, and other academic-related costs. The coverage may vary based on the lender's policies.

To get relief from the financial burden that comes with studying abroad, you can get education loans from trustworthy lenders. Furthermore, some other ways to finance your education abroad include scholarships, sponsorships, part-time jobs while studying, and financial aid from the educational institution itself.

Yes, you can split the cost of your education by paying a portion upfront and taking an education loan to cover the remaining expenses.

Education loans typically cover various expenses beyond tuition fees, such as living costs, accommodation, books, study materials, travel, and other academic-related expenses.

Although studying abroad for free poses challenges, certain countries and universities extend scholarships or tuition-free programs to international students. Additionally, you can explore various scholarship opportunities and financial aid offered by governments, organizations, and educational institutions.

Yes, many Canadian institutions accept education loans as a valid financial resource for international students to cover their expenses while studying in the country.

You must start by researching a suitable lender that offers education loans for international students. With necessary documents, such as proof of admission and financial statements, you can initiate the loan process. Carefully review the terms and conditions, interest rates, and repayment schedule before proceeding with accepting the loan offer.

You must start by researching a suitable lender that offers education loans for international students. With necessary documents, such as proof of admission and financial statements, you can initiate the loan process. Carefully review the terms and conditions, interest rates, and repayment schedule before proceeding with accepting the loan offer.

The decision to take an education loan to study abroad depends on various factors, including the student's financial situation, potential earning prospects after graduation, and the overall cost of education. It is essential to weigh the benefits and risks carefully and consider alternative funding options before deciding.

Yes, you can avail education loans for studying abroad after 12th.

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