Is there any possibility to take an education loan for study purposes as a student?
Yes, you can take an education loan to study as a student. Indian banks and financial institutions offer loans for studying abroad, covering tuition, accommodation, travel, and related expenses.
- Eligibility: You generally need a confirmed admission offer from a recognized university, a co-applicant (usually a parent/guardian with stable income), and a strong academic record.
- Loan Amount: Can cover up to 100% of expenses, with higher limits for loans with collateral.
- Interest Rates: Typically range from 8.5% - 15% per annum, subject to change.
- Repayment: Most lenders offer a moratorium period covering your course plus 6 - 12 months, with flexible repayment tenures.
Contact your LeapScholar counsellor for guidance on choosing the best loan option for your profile.
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