Studying abroad is an amazing experience but can be quite heavy on your pockets. Scholarships and grants are available but are highly competitive and rarely cover your entire expenses. A loan can cover up to your school’s complete cost of attendance, excluding any other aid you’ve received. Here is a list of top international student loans that will cover your study abroad cost.
Student Loan for International Students in France
The high-quality education and inexpensive tuition fees of French universities are the key reasons why so many international students select France as their study destination. In 2018, over 325,000 international students choose France as their study destination. Here are some international student loans with collateral for France:
| Lender | Amount | Processing Fee | Payment During Study Period |
| State Bank of India, BOB | Up to INR 1 Crore | INR 11,800 | No Payment |
| Axis Bank | Up to INR 60 Lakhs | Up to INR 17,500 + GST | Simple Interest |
| Avanse, Incred | Up to INR 50 Lakhs | 1-2% of the loan amount | Simple Interest |
Here are some international education loans for students without collateral for France:
| Lender | Amount | Processing Fee | Payment During Study Period |
| State Bank of India, BOB | Up to INR 7.5 Lakhs | NIL | No Payment |
| Axis Bank | For selected universities up to INR 40 Lakhs, rest up to INR 7.5 Lakhs | Up to INR 20 Lakhs: INR 15,000/- (refundable). More than INR 20 Lakhs: INR 750 on every lakh above 20 Lakhs | Simple Interest |
| Avanse, Incred | Up to INR 40 Lakhs | 1-2% of the loan amount | Yes, full EMI Repayment |
Also Read: TATA Capital Education Loan
International Student Loan Without SSN
International Student Loan Norway
The Norwegian State Educational Loan Fund issues student loans in Norway (Lanekassen). There is no interest charged until the student graduates. The fundamental requirement for receiving Lanekassen assistance is that you are a Norwegian citizen. Foreign citizens, however, are also eligible for financial support. (englishwithashish)
Eligibility Criteria
If you are a student in Norway and are a foreign citizen with legal residence, you may be eligible for financial aid if you meet one of the following criteria:
- Copy of the document from the Norwegian Directorate of Immigration (UDI) that you have been granted protection i.e Asylum in Norway
- Copy of the decision from the Norwegian Directorate of Immigration (UDI) for special humanitarian considerations or particular attachment to the country
- Marriage certificate if you are married to a Norwegian citizen
- Right of residency as a family member or EEA citizen
- Copy of a valid residence permit
- Grade transcript or diploma for education you have completed in Norway
Hong Kong International Student Loan
Hong Kong students studying abroad are mainly self-funded or supported by family, or they may receive fee waivers or discounts from their university, as well as scholarships or awards.
However, in many instances, these earnings are insufficient to meet all expenses. International study loan understands that many students require additional support and provides loans to Hong Kongese students to assist in their educational pursuits.
Eligibility Criteria
Below are the eligibility criteria for international students if they are applying to Canadian or American universities:
- Students must attend an eligible school in the USA or Canada
- Must be enrolled as an undergraduate or graduate student and pursue a degree, certificate, or license
- Students need to apply for consigner
- The consigner must be a US citizen or permanent resident, with good credit and who has lived in the USA for at least 2 years
International Student Loans in Italy
There is two educational study loan for international students available:
- Unsecured Education Loans
- Secured Education Loans
Education loans that require collateral are known as secured education loans. As a result, if you apply for a with-collateral education loan, you must hold an asset as a mortgage until the loan is fully repaid. A fixed deposit or an immovable property can be used as collateral.
| Lender | Amount | Interest Rate Range | Processing Fee | Payment During Study Period |
| State Bank of India, BOB | Up to INR 1.5 Crore | 8% – 9% | INR 11,800 + Property Evaluation Charges | No Payment |
| Axis Bank, ICICI | Up to INR 60 Lakhs | 11% – 13% | 1-2% of the loan amount | Simple Interest |
| Avanse, Incred | Up to INR 40 Lakhs | 12% – 14% | 1-2% of the loan amount | Simple Interest |
Unsecured education loans are ones for which the borrower will not be required to provide any form of collateral. Unsecured school loans are simple to obtain, but they come with high processing costs and interest rates.
| Lender | Amount | Interest Rate Range | Processing Fee | Payment During Study Period |
| Axis Bank, ICICI | Up to INR 40 Lakhs(Only for a few universities) | 11.5% – 13% | INR 750 on each lakh above INR 20 Lakhs | 20 years |
| Avanse, Incred | Up to INR 40 Lakhs(Dependent on co-applicant income) | 12% – 14% | 1-2% of the loan amount | 10 years |
Also Read: Education Loan for Germany
How to Apply for International Student Loans?
Step 1: Check the eligibility: Start applying for the international student loan and use the loan comparison tool if any on the page. After that, it will show you if any companies are able to lend to a student in your position
Step 2: Application: You can then proceed with your application if you have been matched with a lender. Even if you are not a US citizen, the application process is quick. You must submit all required documentation and paperwork to the loan firm, which will determine whether or not you are authorised.
Step 3: Documentation: Following are the documents you must provide to the lender
- ID Proof
- Proof of Residence
- Academic Records
- Valid Passport & Visa
- Proof of admission to your university
- Extra-curricular certificates if appropriate
Step 4: Approval: You will be advised of the interest rates (fixed or variable rate) and repayment terms once your application has been conditionally approved. Your loan application will be authorised and funds will be disbursed if you agree to the terms. This takes about 6 weeks as usual.
FAQs
Yes, you can get a 100% loan to study abroad, but it depends on the eligibility and academic score of a student.
ICIC Bank Campus Account.
PNB Student Savings Account.
Steps to Open Punjab National Bank Savings Account.
HDFC Zero Balance Account.
HDFC DigiSave Youth Account.
Students can apply for education loans from the Central Bank of India with interest rates as low as 6.85% to pursue their studies both domestically and overseas. Also, the bank provides discounts to female students.
This was a list of Top International Student Loans! If you are someone looking forward to pursuing your career abroad, sign up for the free career counselling session at 1800572000 and gain an opportunity to talk to our Study abroad mentors at Leverage edu
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