When should I start the loan process, and what should I do before leaving for university abroad in 2026?
12 Oct 2026 · Answered by Tharun Kumar U · 1 min read
Quick Answer
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Before leaving in 2026, buy health insurance, apply for your visa once you hold a confirmed offer, finalise scholarship applications and set up forex and banking. If you need an education loan, start the process at least 3 to 6 months before joining your university.
Preparing to leave is as much about money and paperwork as academics. The most time-sensitive step is your loan, so start it at least 3 to 6 months before joining.
Your Pre-Departure Roadmap
| Task | When and how |
|---|---|
| Health insurance and visa | Buy insurance and apply for your visa as soon as you have a confirmed offer |
| Scholarships | Finalise applications; some global scholarships open a year ahead of the joining year |
| Education loan | Start at least 3 to 6 months before joining |
| English skills | If your PTE or IELTS score was borderline, practise academic writing |
| Money | Get a forex card in India and set up a digital bank account abroad |
| Application fees | Typically USD 50 (approx INR 4,842) to USD 150 (approx INR 14,525), with MBA programmes at the higher end |
Loan Notes
- Public sector banks such as SBI and Bank of Baroda may offer lower interest rates, from about 8.15% onwards (published rates differ by lender and scheme), if you have collateral.
- Rates change, so confirm the current figure with the lender.
My Advice
Make a dated checklist and work backwards from your joining date. Start the loan first, since it takes the longest, and keep copies of every document.
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