Applying to approved foreign universities abroad leads to quicker education processing. Banks require students to get admission to these reputed, accredited universities to be eligible for education loans. Bodies like UGC, HEIs, and IAO must recognise the universities. The loan approval process also considers factors like academic record, entrance exam scores, and financial background. Check all the details about approved universities in various countries which are also recognised by banks providing education loans.
Must Read: Confused about choosing the right student loans for your higher studies? Here are a few tips on How to pick the Right Student Loans to Study Abroad.
Table of contents
- Which are the Approved University for Education Loans?
- Approved Universities in the USA
- Approved Universities in UK
- Approved Universities in Canada
- Approved Universities in Germany
- Approved Universities in Hong Kong
- Approved Universities in Taiwan
- Approved Universities in Switzerland
- Approved Universities in Italy
- Approved Universities in France
- Approved Universities in The Netherlands
- Approved Universities in Japan
- Approved Universities in China
- Approved Universities in Spain
- Approved Universities in New Zealand
- Approved Universities in Sweden
- Banks and NBFCs Offering Education Loans to Approved Foreign Universities
- FAQs
Which are the Approved University for Education Loans?
There are a lot of banks in India that provide education loans only for approved universities. You can also check such lists on the websites of those banks. Hence, it is very important to check and stay informed about whether your university is approved and recognised by the bank where you are applying for an education loan. Check the list of all the approved universities of major study-abroad destinations below:
Approved Universities in the USA
The USA is home to some of the top-ranked universities in the world. As this country is slightly more expensive as compared to others, students enrolled in the below-mentioned universities can apply for education loans at concerned financial institutions. Students can easily apply for collateral-free education loans for USA.
Approved Universities in UK
One of the most sought-after academic destinations, the UK hosts esteemed universities of the world. Universities of the UK are the alma mater of some of the stellar academicians, scientists, social workers, politicians, business professionals, and artists of human civilization. Students can apply for these top scholarships in the UK and avail of collateral-free education loans for the UK.
Approved Universities in Australia
If you’re planning to study in Australia, you should know that universities in this island country have students from across the globe. Indian students can secure admission to the below-mentioned universities with education loans from nationalised banks and NBFCs of the nation. Some of the best Australian scholarships for Indian students can be applied to some of these universities.
Approved Universities in Canada
Are you aiming to study in Canada? You’d be pleased to know that international students benefit from the same rights and freedoms that protect all Canadians. Apart from providing quality education, Canadian universities offer many different programs for the overall development of students. Aspiring students can also consider applying for these cheapest courses for international students in Canada.
Universities | QS World Rankings |
The University of Toronto | 21 |
University of Alberta | 111 |
The University of British Columbia | 34 |
McMaster University | 189 |
University of Montreal | 141 |
McGill University 410 | 30 |
University of Calgary | 182 |
University of Waterloo | 112 |
Approved Universities in Germany
This European nation has an excellent reputation when it comes to academics. The comprehensive and wholesome curriculum of the below-mentioned German universities helps international students become exceptional leaders, scholars, scientists, and artists of the future and makes studying in Germany the right decision for you. Germany blacked accounts for international students are a great way to manage your finances in the country.
Approved Universities in Hong Kong
Indian students go to Hong Kong to enrol in world-class universities that offer exceptional courses designed to widen the growth opportunities of students. If any student is interested in the following universities, they can apply for education loans at different NBFCs and banks.
Also Read: Examine the core benefits of Sparkasse Bank Acount for international students studying in Germany.
Approved Universities in Taiwan
If any student has secured admission to National Taiwan University, he/she/they can apply for study abroad education loans to pursue the course of their liking.
Universities | QS World Rankings |
National Taiwan University | 69 |
Approved Universities in Switzerland
Switzerland is a dream academic destination for students from all over the world. Plan your academic voyage in these universities to avail yourself of education loans from the government of India.
Universities | QS World Rankings |
Eidgenössische Technische Hochschule (ETH) Zürich | 7 |
University of Basel | 124 |
University of Zurich | 91 |
École Polytechnique Fédérale de Lausanne | 36 |
University of Bern | 126 |
University of Lausanne | 220 |
University of Geneva | 128 |
Approved Universities in Italy
Land of the Leaning Tower and Pisa have universities with courses from different academic disciplines.
Universities | QS World Rankings |
Scuola Normale Superiore di Pisa | – |
Scuola Superiore Sant’Anna | – |
Approved Universities in France
France is the land of art and culture. Enrol in the best art courses at these universities with the assistance of education loans from financial institutions providing loans at lucrative rates.
Universities | QS World Rankings |
École Normale Supérieure | 184 |
Pierre and Marie Curie University | – |
École Polytechnique | – |
Paris-Sud University | – |
Approved Universities in The Netherlands
Go for courses in a wide range of academic disciplines at the below-mentioned universities in the Netherlands.
Approved Universities in Japan
In the developed nation of Asia, Japanese universities offer exceptional learning opportunities for international students. Select a program of your choice and excel in your career by taking some financial aid from the banking and financial institutions of India.
Universities | QS World Rankings |
University of Tokyo | 28 |
Kyoto University | 46 |
Approved Universities in China
China is abode to four approved universities for education loans that rank in the top 100 universities. Secure a seat in these academic institutions and become the stalwarts of tomorrow.
Universities | QS World Rankings |
Peking University | 12 |
University of Science & Technology of China | 94 |
Fudan University | 34 |
Tsinghua University | 14 |
Approved Universities in Spain
Aspire to become global citizens and multi-lingual individuals by enrolling in the below-mentioned Spanish universities. Explore this European land and learn from the best teachers in the world.
Universities | QS World Rankings |
Pompeu Fabra University | 310 |
Autonomous University of Barcelona | 149 |
Approved Universities in New Zealand
The land of Kiwi receives Indian students with open arms. This top-ranked university of New Zealand can help students widen their horizons and become global citizens.
Universities | QS World Rankings |
University of Auckland | 68 |
Approved Universities in Sweden
The universities in Sweden offer skill-based and practical education backed by strong theoretical knowledge for students enrolled in various courses. The curriculum is designed to help students prosper in their academic domain.
Universities | QS World Rankings |
Lund University | 85 |
University of Gothenburg | 187 |
Stockholm University | 118 |
Uppsala University | 105 |
KTH Royal Institute of Technology | 73 |
Karolinska Institute |
Must Read: Before applying for loans, know all about the minimum family income requirements for education loans in our blog.
Banks and NBFCs Offering Education Loans to Approved Foreign Universities
Nationalised Banks of India and Non-Banking Financial Institutions (NBFCs) offer education loans for study-abroad students. Each financial institution provides loans of different amounts and for different courses. Students planning to study in esteemed foreign institutions can visit the official website of the banks or NBFCs or Vidya Lakshmi Portal to avail of the study abroad loans.
Banks
- State Bank of India (SBI)
- Punjab National Bank
- Axis Bank
- HDFC Bank
- Union Bank of India
- Bank of India
- Indian Overseas Bank
SBI Education Loan Abroad University List-
Please note that SBI doesn’t provide the list of approved foreign universities for education loans on their official website. However, students can pursue regular graduate, postgraduate, diploma, certificate, and doctorate courses in any field offered by foreign universities. These should be recognised universities in the following countries-
- USA
- UK
- Canada
- Australia
- Singapore
- Japan
- Hong Kong
- New Zealand
- Europe (Austria, Belgium, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Netherlands, Norway, Poland, Portugal, Russia, Spain, Sweden, Switzerland, United Kingdom)
As long as you are applying to pursue full-time regular courses at foreign colleges/universities in these countries, the State Bank of India considers your loan application for education loans.
NBFCs
- HDFC Credila
- Avanse Financial Services
- International Students Loan Program (ISLP)
- Global Student Loan Corporation (GSLC)
- MPower
- Prodigy Finance
Must Read: Confused about taking a loan from NBFCs or banks? Check out our blog on Which Option is Better for Education Loan: NBFC vs Bank?
FAQs
Universities of the Netherlands, UK, USA, France, Spain, China, Japan, Taiwan, Australia, New Zealand, and Hong Kong are included in the list of approved foreign universities for education loans.
SBI, PNB, Axis, and HDFC offer loans for students going to study abroad.
HDFC Credila, Auxilo, Avanse, ISLP, and GSLC offer loans for students enrolled in foreign universities.
Yes, private banks and NBFCs provide 100% education loans to international students for approved universities and cover the full cost of studying abroad. However, public banks may ask students to cover 10-15% of the costs through self-financing.
Countries that are eligible for SBI education loans are Australia, Singapore, the Netherlands, Ireland, Canada, and the US.
Hope this blog has the university you’re aiming for. To know more about the loan application process, the best bank accounts for students, forex and banking experience for global students or international money transfers, reach out to our experts at 1800572126 to help ease your study abroad experience.
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Hi.i need information for studying loan.how a student can borrow money from bank and follow the education as a loan?
Hi Iftikhar
You can simply visit any public or private sector bank that is best suited for your requirements. Check the eligibility criteria of the bank and other major features before applying for a loan.
For more details and easy finance solutions, reach out to our experts at 1800572126 to help ease your education loan and other services.