Study Loan for Abroad: Studying abroad is an exciting opportunity for many students to broaden their horizons, gain invaluable experiences, and pursue their academic passions in a global context. However, the cost of international education can be daunting, often requiring substantial financial investment.

This is where study loans come into play, providing a pathway for aspiring students to fulfill their educational dreams. In this article, we’ll delve into the intricacies of study loans for abroad, exploring the various options available, eligibility criteria, application processes, repayment strategies, and more.

What are Study Loans?

Study loans, also known as education loans or student loans, are financial products designed specifically to help students cover the costs associated with their education. These expenses may include tuition fees, accommodation, textbooks, living expenses, and other educational necessities. Unlike personal loans, study loans often offer more favorable terms and conditions tailored to the needs of students, such as lower interest rates and flexible repayment schedules.

How to Scholarship Status check Process

study loan for abroad study (International) Education Loan – UG & PG

study loan for abroad Eligibility criteria:

• Open to Indian students who have received confirmation of admission to study abroad.
• Applicants must be at least 18 years old at the time of application.
• Admission to the desired institution must be obtained after completing the prerequisite qualifications.
• Family income should exceed ₹3 lakh per annum.

study loan for abroad study (International) Education Loan  Benefits:

Applicants for the Education Loan will receive the following advantages:

1. Collateral-free* loan amounts ranging from ₹1 lakh to ₹40 lakh.
2. Education loan interest rates starting at 8.1% per annum*.
3. Streamlined application process for easy and prompt loan approval.
4. Loans up to ₹2 crore available with collateral*.
5. 100% income tax benefit for interest payments under Section 80E of the IT Act.
6. The education loan covers various expenses related to the course, including:

   1. College-related expenses:

1. Tuition and institute fees
   1. Examination/library/laboratory fees
   1. Purchase of books/equipment/uniform
   1. Living expenses (including hostel fees)

   2. Additional expenses:

1. Travel expenses
   1. Purchase of computers/laptops
   1. Overseas insurance
   1. Health insurance costs

Note: Special considerations are available for students pursuing professional courses from NIRF/top educational institutions, including reduced interest rates based on the course and institution, and quick loan disbursal.

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To apply, make sure you have the following documents ready:

1. A recent passport-size photograph
2. Address proof (such as Aadhaar Card,
3. Driving License,
4. Passport,
5. Voter ID Card,
6. NREGA Job Card of parent/s, etc.)
7. Admission proof (College ID card, admission letter, or bonafide letter from the institute)
8. Fee structure document

How to Follow these steps to apply

1. Click the ‘Apply Now‘ button below.
2. Log in to Buddy4Study using your registered ID and you’ll land on the ‘Application Form Page’.
3. If you’re not registered on Buddy4Study, you can register using your Email/Mobile/Gmail account.
4. You’ll then be redirected to the ‘Buddy4Study Education Loan program’ application form page.
5. Click on the ‘Start Application’ button to begin the process.
6. Fill in all the required details in the online application form.
7. Upload the relevant documents mentioned above.
8. Accept the ‘Terms and Conditions’ and click on ‘Preview’.
9. Review all the details on the preview screen. If everything looks correct, click on the ‘Submit’ button to complete the application process.

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