How many years do I get to repay my study abroad education loan?
Repayment on your study abroad education loan usually starts once you finish the course, either one month after you land a job or automatically within a year even without one. Most banks give you five to seven years to repay, extendable up to ten years overall.
You typically get five to seven years to repay your study abroad education loan once repayment begins, and banks may extend this up to a maximum of ten years overall. Repayment usually kicks in soon after you finish your course, whether or not you have found a job yet.
When repayment starts and how long it runs
| Situation | What Happens |
|---|---|
| You get a job within a year of finishing | Repayment starts one month after you join work |
| You have not found a job within a year | Repayment starts anyway, job or no job |
| Standard repayment period | Around five to seven years from the start date |
| Maximum overall repayment window | Up to ten years |
If your course runs longer than planned
Banks understand that courses can sometimes take longer than scheduled, so they typically allow an extension of up to two extra years before the repayment clock starts, giving you some breathing room to finish your degree.
My Advice
Talk to your bank early about the exact repayment start date tied to your course, and try to pay off some interest during your studies if you can, since it reduces the total amount you owe once the full repayment period kicks in.
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