For any student, for more reasons than one, pursuing studies abroad and heading off to a new foreign country is an exciting challenge. This often leads to better career opportunities and a broader understanding of the world we live in. Many bright Indian students are, therefore, choosing to complete their studies abroad.


Funding studies abroad is a difficult task for many. The cost depends on many factors including the university, course, duration, and the standard cost of living in a specific country. These days, there are a number of financial institutions that offer educational loans. Nationalized banks offer a number of schemes depending on the university selected and the course that is opted for. They come with flexible repayment schedules so that the borrowers can plan their finances accordingly.


The most attractive point about education loan for abroad studies is that they carry a moratorium (non-repayment period) of about 1 year after the student completes his/her course or 6 months after procuring a job (whichever happens earlier). The repayment can start as soon as the moratorium is over. Moratorium periods are different for various banks. Educational loans are also designed to cover other expenses such as boarding and lodging, travel, tuition fees and some other related costs.


Eligibility Criteria

There are some criteria that a student has to satisfy to be able to apply for education loan for abroad studies.

  • The student should be an Indian citizen.
  • The student should be over 18 years of age. If otherwise, the loan will have to be taken in one parent’s name.
  • The applicant must have a sound academic record.
  • The student should have already secured admission in a foreign university (recognized) for a legitimate course.
  • The course should be a technical/professional one. The chances of obtaining a student loan in such cases are higher.
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Education Loan Assistance

At Abe Services, We Ensure That Students Receive Funding From Leading Banks To Aid In Their Quest To Study Abroad.

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Documentation Requirements for Student Applicants

Whereas the formalities are different for various banks when applying for an education loan for abroad studies, below are the documents that have to be submitted anyway when applying for the loan. These documents have to be disclosed along with the filled up loan application form.

Personal identification records
  • 2 Passport-size photographs of the applicant
  • Photo identification & age proof of the applicant: this can be the PAN card, Aadhar card, Passport, Driving License, or Voter id card.
Residence Proof
  • Proof of residence of the applicant
Academic records
  • Mark sheets/Certificates of the applicant
  • Secondary (10th)/Senior secondary (12th) examination result
  • Graduation result
  • Score Report of the entrance exam through which admission to the course has been secured such as GRE/GMAT/IELTS/TOEFL, etc., whichever is applicable
Admission Proof
  • Letter of admission for the specific course from the university; in case of universities abroad, a conditional letter of admission may also be sufficient
Statement of costs
  • The schedule of expenses including the cost of the course has to be submitted.

Personal identification records
  • 2 Passport-size photographs of the co-applicant
  • Photo & identification of co-applicant: this can be the PAN card, Aadhar card, Passport, Driving License, or Voter ID card.
Residence Proof
  • Proof of residence of the co-applicant: Telephone/Gas/Water/Electricity Bill/Driving License/Aadhar card/Passport (any one of these will do)
  • Loan Account statement (last 1 year) in case of any previous loans from banks/other lenders
Income Proof
  • Proof of income such as salary slip (last 3 months) or a copy of Form 16/IT returns (2 years) of the co-applicant
Account Statements
  • Bank statements of the co-applicant for the last six months

  • Salary slip (last 3 months)
  • IT returns (2 years)
  • Account statement ( 6 months)

  • Business address proof
  • IT returns (2 years)
  • TDS certificate (Form 16A)
  • Account statement ( 6 months)
  • Qualification certificate (For Doctor/C. A./Engineer and other professionals)

  • Original sale deed
  • Prior deed (Back document)
  • Latest land tax receipt from village office.
  • Latest possession certificate from village office.
  • Latest location sketch & certificate from village office.
  • Encumbrance certificate for the last 30 years from 01/01/1981 till date.
  • Latest Building tax receipt.

Loan Application Process

It is important for the student to know that from the submission of the loan application form and the accompanying documents to the approval and disbursement of the loan, the process will take some time. It is a good idea to apply for the loan well in advance to avoid any last-minute complications.
  • After checking the universities, the courses offered and the course that the applicant wants to pursue, it is important to check with the bank if they recognize the course that has been picked out for study.
  • The next step is to calculate the total amount that is required, the loan amount to be applied for, and the amount that the applicant will be able to arrange on his/her own.
  • The third step is to choose the bank that offers the best deal as far as the amount and the interest rate is concerned.
  • Then the applicant fills up the student loan application form.
  • Once the loan is approved after due examination, the bank will issue a loan document with all the specifics.
  • The loan amount is disbursed after the student and the co-applicant sign the relevant bank documents.

Top Education Loan providers for studying abroad

  • State Bank of India

    State Bank of India is one of the foremost banks in the nation that as revolutionised the education loan system with faster processing, low interest rates and flexible repayment methods. It is today one of the most sought after service being offered by the bank and has helped realize the dreams of millions of students over the years.

    Maximum loan amount: 1.5 Cr. INR
    Collateral security is needed for loan amounts that adds up to more than 7.5 lakhs INR. For more details on education loan offered by SBI, click here. by SBI, click here

  • BANK OF BARODA

    Bank of Baroda provides education loan for studying abroad for various courses. With zero processing fee and no margin on loans up to 4 lakhs, the education loan service offered by Bank of Baroda is one among the best option for students looking to study abroad.

    Maximum loan amount: 80 Lakhs INR
    Tangible collateral security is a must for loan amount exceeding 7.5 lakhs INR. For more details on education loan offered by Bank of Baroda, click here. click here

Abe Services –
How we can help

Abe Services provides students with personalized counselling and comprehensive assistance at every step of obtaining the education loan. From helping the student pick the right course and university, the expenses involved, to providing details about the different loan options that are available, Abe Services stands by the student all the way. Our expert counsellors would help the students in filling up the course forms during the admission stage and the bank loan forms as per the requirements. These efforts on our part have resulted in a long list of satisfied customers and have made Abe Services a foreign education consultancy service to be reckoned with among the top ones in India.

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