Can I apply for an education loan to cover my living expenses while studying abroad?
More expert answers
Yes, you can apply for an education loan to cover your study abroad expenses in Ireland.
Indian banks and financial institutions typically offer loans that cover tuition fees, living expenses, travel, and related costs. Loan amounts, interest rates, collateral requirements, and repayment terms vary by lender and are subject to change.
- Loan amount: Usually ₹10 lakh - ₹1 crore, based on course and institution
- Interest rate: Typically 8.5% - 12.5% per year
- Collateral: May not be needed for loans up to ₹7.5 lakh with a strong academic profile
- Repayment: Starts 6 - 12 months after course completion, with terms up to 15 years
For guidance on the best loan options for your profile, contact your LeapScholar counsellor.
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