A student planning to pursue higher education in top universities of the world can get up to 100% loan to study abroad. It often becomes necessary to apply for a maximum education loan, owing to the hefty college fees. As every student is not capable of self-financing abroad education, they can apply for education loans at public and private banks and NBFCs.
100% financing facilities offered by lenders cover tuition fees, travel expenses, cost of living, and essential academic expenses. Additionally, these offer easy repayment options. The repayment tenure often starts after course completion. This period lasts up to 12 to 15 years.
Top lenders financing 100% study abroad education ask for collateral security or a co-signer. They consider tangible and intangible collateral security and ask for a co-signer with a good credible score. Furthermore, lenders also offer education loans without collateral after considering the academic records and earning potential of students.
How to Get 100% Loan to Study Abroad?
Students going abroad for undergraduate, graduate, postgraduate, or professional courses can apply for up to 100% education loan. They can follow these steps:
- Visit the official website of Fly Finance
- In the next step, select the ‘Education Loan’ option from the drop-down menu
- After this, click on the ‘Apply for Loan’ option
- Now select the ‘Calculate Your EMI’ button to know about education loan EMI calculation
- Finally, click on the ‘Request Callback’ button to consult a student loan expert who guides students through the loan application process
Maximum Education Laon to Study Abroad from Government Bank
The State Bank of India offers generous education loans for students of Indian nationality who wish to pursue their studies abroad. Under the SBI Global Ed-Vantage Scheme, eligible students who have secured admission to approved foreign universities can avail of a secured loan of up to INR 1.5 crore, which is the highest amount offered for overseas education. This scheme is open to Indian citizens, NRIs, OCIs, and PIOs.
Additionally, the Shaurya Education Loan is available for the children of Defence personnel and Indian Coast Guard officials. They can apply for both secured and unsecured loans of up to INR 1.5 crore.
For Indian students planning to study abroad, they can avail of secured and unsecured education loans up to INR 1 crore. These loans can be obtained either directly from the State Bank of India or through the Vidya Lakshmi Portal.
Under the SBI education loan program, students can receive up to INR 45 lakhs without needing collateral and up to INR 1.5 crore with collateral. The loan amount is determined based on various factors, such as the academic profile of the applicant, the chosen country and course, and the financial status of both the applicant and the co-borrower.
Stay in tune with the Fly Finance News Desk to get regular updates on study abroad loans and international money transfers.
