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Indian Banks offering Education Loans for Studying Abroad

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Indian Banks offering Education Loans for Studying Abroad

Updated on Jan 8, 2021

Piyush Kohli

Study Abroad Expert

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• OverviewRequirementsLoan ProvidersPublic v/s Private

Education Loans for Study Abroad

Education Loan for Abroad Studies: Studying abroad can be a life-changing decision, however, this doesn’t come easy. Those who want to pursue higher studies abroad, but finding it difficult to arrange for funds, now have the option to make arrangements for funding their education. In this article, we will cover each and every detail related to education be it the process to apply for a loan, eligibility or documents required for it. We will also cover various other aspects related to student loans like the Indian banks giving student loans or the role of a guarantor. We will cover each and every aspect for all those who are looking for an education loan for study abroad.

Eligibility criteria to apply for the education loan

The first and foremost thing is to check whether you are eligible to apply for an education loan or not. Below provided is the usual criteria which Indian banks follow for checking the eligibility of the loan applicant is:

• The applicant should be a citizen of India.
• The applicant must have attained the age of 18 else his/her parents will have to take the loan.
• The applicant must have a good academic background.
• The applicant must have secured admission to a recognized foreign university/institution/college.
• The desired course which the applicant is going to study must be a technical or professional one, as banks give preference to job oriented courses.