Can I apply for a student loan from India to fund my studies abroad?
Yes, you can apply for a student loan from India to fund studies abroad. Banks and NBFCs offer secured loans up to Rs 3 crore at 8.5 to 11% interest, and unsecured loans up to Rs 75 lakh at 10.5 to 14.5% interest, covering tuition, living costs and travel.
You can absolutely fund your overseas education with a loan from India, and you have more lenders to choose from than you might expect. Your loan can cover up to 100% of your tuition fees, living expenses, flight tickets and study materials, whether you go secured or unsecured.
Secured vs Unsecured Loans
| Loan Type | Interest Rate | Maximum Amount | Repayment Tenure |
|---|---|---|---|
| Secured (with collateral) | 8.5% to 11% | Rs 1.5 to 3 crore | Up to 15 years |
| Unsecured (no collateral) | 10.5% to 14.5% | Rs 40 to 75 lakh | Shorter, based on income |
How to Apply, Step by Step
- Shortlist your universities and calculate your total cost of attendance before approaching any lender.
- Check your eligibility, including a co-applicant's income and a minimum 60% academic score, to decide between secured and unsecured.
- Apply through the Vidya Lakshmi Portal to track your application across multiple banks at once, or approach SBI, HDFC Credila, Axis, ICICI, or NBFCs like Avanse and InCred directly.
- Gather your marksheets, admission letter, co-applicant income proof, ITR, and asset papers if you are going the secured route.
My Advice
Get your admission offer letter finalised first, then approach at least two public sector banks and one NBFC in parallel so you can compare real sanctioned rates rather than advertised ones. If your family owns property or fixed deposits, pledge them for a secured loan, since the lower interest rate saves you lakhs over your full repayment tenure.
Will you qualify for a US education loan?
Collateral, co-applicant income and repayment. Check your eligibility in minutes.
More Cost & living questions
- What is the lowest undergraduate tuition fee I can expect to pay at a Canadian university for the 2026 academic year?
- How much would I pay in first-year tuition for the International MBA program at York University, Toronto?
- How much monthly rent should I expect to pay for accommodation in Austria as an international student?
- If I get an education loan, can I proceed with the application after the loan amount is clear?
- Is it better to spend 12 lakhs in India or go abroad for higher studies in Germany for a Master's?
- Does the agency provide end-to-end services including visa, loan guidance, and accommodation?
- Do I need to show living expenses in my bank account for visa purposes, and can I withdraw it after reaching Ireland?
- How do I get an education loan for an MBA abroad as an Indian student?
More USA questions
- What are the chances of getting a conditional offer letter requiring IELTS even if I have a good 12th standard score?
- Which universities in the USA offer MS Engineering Management for a B.Tech Automotive Engineering graduate, Duolingo 120 and ₹80 lakhs budget?
- Which is more suitable for my son's master's education: Dubai or the USA, considering cost, location, program variety, post-study work options, and pathways to permanent residency?
- How much extra should I keep aside for unexpected costs during my MS in the USA?
- By when do I need to submit my application for most UG and PG courses at UCLA?
- Can you track an Employment Pass application on the MOM portal when your employer files it?
- Can I apply for an education loan up to 30 to 35 lakhs or 30 to 40 lakhs budget?
- What are the visa application chances and procedures for USA compared to Australia?