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Education Loan Eligibility in India
To study abroad, most Indian students rely on education loans to cover tuition fees and living expenses. Understanding the eligibility criteria is crucial for securing an education loan. Though the specifics vary from one lender to another, certain basic requirements remain common across banks and NBFCs.
Basic Eligibility Criteria for Education Loans
| Criteria | Details |
|---|---|
|
Nationality |
Must be an Indian citizen |
|
Age |
Between 18–35 years (some banks accept 16+) |
|
Academic Record |
Strong academic performance in Class 12 and graduation |
|
Admission Letter |
Confirmed admission from a recognized university/college abroad |
|
Course Type |
Professional or technical courses preferred (e.g., MBA, MS, STEM) |
|
Co-Applicant |
Required; should have a good credit score and stable income (e.g., parent, spouse, guardian) |
|
Collateral |
May be required for higher loan amounts (property, FD, etc.) |
Bank-Wise Education Loan
Loan vs. Self-Funding
| Aspect | Education Loan | Self-Funding |
|---|---|---|
|
Financial Pressure |
Spread over time |
Immediate burden |
|
Collateral |
May be needed |
Not applicable |
|
Interest |
Applicable |
No interest |
|
Savings |
Not affected |
Heavily used |
|
Credit History |
Helps build it |
No impact |
Public vs. Private Loan Providers
| Feature | Public Banks | Private Lenders |
|---|---|---|
|
Interest Rates |
Lower (with subsidy) |
Slightly higher |
|
Processing Time |
Longer |
Faster |
|
Flexibility |
Less |
More customizable |
|
Collateral |
Usually required |
Optional for some |
Step-by-Step Guide to Applying for a Loan
- Research banks & NBFCs
- Check eligibility criteria and course requirements
- Gather documents (KYC, income proof, admission letter, etc.)
- Choose co-applicant with stable income
- Apply online/offline
- Get loan sanctioned & disbursed
What Our Awesome Clients
Say About Us
Beyond Borders Overseas made my dream of studying in Canada come true! From choosing the right university to getting my visa approved, their support was exceptional. Highly recommended!
Frequently Asked Questions
Just sign up and fill in your loan details. We’ll forward your information to our trusted loan partners. Their experts will get in touch with you to guide you through the entire loan process.
Beyond Borders Overseas is associated with reputed education loan providers. Their representatives will contact you within 1–3 business days. If you don’t receive a call, feel free to email us at sairajkiran1999@gmail.com with your unique application ID.
The sanctioned loan amount and interest rate depend on multiple factors like:
- Your CIBIL score (credit history)
- Whether collateral is provided
- Tuition fee amount
- University and course of study
In general, interest rates range between 9.5% – 13.5%, or as set by your selected loan provider.
Beyond Borders Overseas does not charge any separate fee for helping you connect with loan providers. However, individual loan providers may apply their own processing charges, which will be clearly shared with you by our partners.
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Apply to India’s Top Education Loan Providers through
Beyond Borders Overseas
We have partnered with some of India’s leading education loan providers to help students like you finance your dream of studying abroad. Whether you’re pursuing an MS, MBA, or any specialized course, our partner experts are here to assist you throughout the education loan process.