An abroad education loan is a financial support that helps students fund their studies abroad by paying for tuition fees, living expenses, and other related costs.
Eligibility for an abroad education loan varies among lenders but typically requires the applicant to be a citizen of India, have an admission offer from a recognised university, and meet specific academic criteria.
Towards Education helps you find the perfect lender for the best education loan, customized to your profile and study abroad requirements. Our fully digital, paperless process ensures a seamless experience.
Abroad education loans generally cover tuition fees, living expenses, travel costs, examination fees, and other educational & travel expenses, depending on the lender’s policies.
Secured education loans offer up to INR 1.5 crore, while unsecured loans provide up to INR 45 lakhs without collateral. These limits can vary based on the applicant’s and co-applicant’s profile, country, and course.
The repayment period can range from 12-15 years, depending on the lender’s terms and conditions. It may include a grace period after graduation before the repayment starts.
The need for a co-signer or collateral to secure an abroad education loan varies among lenders. Some may require a co-signer with a strong credit history, while others offer unsecured loans based on the borrower’s creditworthiness. Check with individual lenders for specific requirements.
Secured abroad education loans require collateral as security, such as property or investments. Unsecured loans do not require collateral up to a certain amount which varies depending on the lender.
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