Studying abroad is a dream for many students. But it can be expensive. That’s where education loans help! In this blog, we’ll explain in very simple words how much education loan can i get to study abroad, who gives the loan, what costs are covered, and how to calculate your loan amount. If you’re planning to study in the USA, UK, Canada, Australia, or any other country, this blog will help you understand everything you need to know.
💰 Factors: How Much Education Loan Can I Get to Study Abroad?
The loan amount depends on:
- The country you’re going to
- The course and university
- The total cost (fees + living)
- Your academic profile
- Your co-applicant’s financial strength
- Whether the loan is secured (with collateral) or unsecured (without collateral)
🎓 Maximum Education Loan Amount in India:
| Loan Type | Maximum Amount You Can Get |
| Unsecured Loan (no collateral) | ₹7.5 lakhs to ₹50 lakhs |
| Secured Loan (with collateral) | Up to ₹1.5 crores or more |
🔍 What Is Covered in the Loan?
Education loans usually cover:
- Tuition fees
- Flight tickets
- Hostel or accommodation
- Study materials and books
- Laptop (if required)
- Insurance
- Visa fees and exam fees (TOEFL, IELTS, etc.)
- Living expenses (up to a fixed limit)
🔐 Secured vs Unsecured Loan – What’s the Difference?
| Feature | Secured Loan | Unsecured Loan |
| Collateral | Yes (house, land, FD, etc.) | No collateral needed |
| Interest Rate | Lower (8.5% to 10%) | Higher (11% to 14%) |
| Loan Amount | Higher (₹50 lakhs – ₹1.5 crores) | Lower (₹7.5 lakhs – ₹50 lakhs) |
| Chances of Approval | Higher (due to security) | Depends on income, academic profile |
📊 Simple Calculation: How Much Loan Will You Need?
Let’s do a quick sample calculation:
🎓 Example
Country: Canada
Tuition Fee per year: ₹18 lakhs
Living cost per year: ₹7 lakhs
Duration of course: 2 years
Total Tuition Fee = 18 lakhs × 2 = ₹36 lakhs
Total Living = 7 lakhs × 2 = ₹14 lakhs
Total Loan Required = ₹36 lakhs + ₹14 lakhs = ₹50 lakhs
👉 So, you can apply for a loan of ₹50 lakhs from a bank or NBFC.
🏦 Popular Banks & NBFCs Offering Loans for Abroad Studies
| Lender Name | Max Loan Amount | Type | Collateral Needed | Interest Rate (Approx) |
| SBI Global Ed-Vantage | ₹1.5 crore | Bank | Yes | 9.00% – 10.75% |
| ICICI Bank | ₹1 crore | Bank | Yes / No | 10% – 12.5% |
| HDFC Credila | No upper limit | NBFC | Usually Yes | 11% – 13.5% |
| Axis Bank | ₹75 lakhs+ | Bank | Depends | 11% – 13% |
| Avanse | ₹50 lakhs – ₹1 crore | NBFC | Yes / No | 12% – 14% |
| InCred | ₹40 – ₹60 lakhs | NBFC | No | 11.5% – 13.5% |
📋 Eligibility to Get an Education Loan
To get an education loan, you must:
- Be an Indian citizen
- Have an admission letter from a recognized foreign university
- Have a co-applicant (usually a parent/guardian)
- Provide collateral (for secured loans)
🕒 When Will the Loan Money Be Given?
The money is usually disbursed:
- Tuition fees: sent directly to the university
- Living costs: given in parts (monthly/semester-wise) to your account
💸 Loan Repayment – When and How?
- You don’t need to repay the loan while studying
- You get a moratorium period: course duration + 6 to 12 months
- After that, monthly EMIs start
- Repayment time: up to 15 years
💳 Is There Any EMI Facility for Education Loans?
Yes, there is! Students don’t have to repay the loan while they are studying. Most education loans come with an EMI repayment facility that starts after the course is completed.
🕒 When Do You Start Paying EMI?
You get a moratorium period, which is:
- Course Duration + 6 to 12 months
(This means you don’t have to pay EMIs during your studies and for a few months after your course ends.)
For example, if your course is 2 years long and you get a 6-month grace period, you’ll start paying EMIs 2.5 years after disbursement.
📊 Simple EMI Calculation – Easy to Understand
Let’s say you take an education loan of ₹40 lakhs at 10% annual interest for a 10-year repayment period.
Here’s a quick EMI idea without going into a complex formula:
| Loan Amount | Interest Rate | Tenure | EMI (Approx) |
| ₹20 lakhs | 10% | 10 years | ₹26,500/month |
| ₹30 lakhs | 10% | 10 years | ₹39,750/month |
| ₹40 lakhs | 10% | 10 years | ₹53,000/month |
🟢 These are just approximate values.
🟢 Use an online EMI calculator on the bank website to get the exact amount.
🔄 Can You Pay Early?
Yes! You can:
- Start paying EMIs even during the course (if you wish)
- Make part-payments any time
- Close the loan early (pre-payment) with low or no charges (depending on the lender)
✅ Tip: Always check with your lender about pre-payment options and EMI flexibility. This can save you interest in the long run.
✅ Tips to Get a Higher Loan
- Choose a top-ranked university
- Have a strong co-applicant (good income)
- Add collateral (house/FD/property)
- Maintain a good academic record
- Apply early and compare multiple lenders
📚 Final Thoughts
Getting an education loan to study abroad is easier than ever, but you need to plan wisely. Know the cost of your course, calculate how much loan you need, and choose the best loan option based on your profile. If you are aiming for top countries like the USA, UK, Canada, or Australia — a loan of ₹30–₹60 lakhs is quite common. For students applying to Ivy League or top-tier universities, loans can even go up to ₹1 crore or more.