Applying for Higher Education Student Loans: Study Abroad Guide 2022

Get Education Loan to Study Abroad

Many international students wish to study abroad and fulfil their dream. This allows them to learn a new language, explore a different culture, and gain a global perspective. Also, the education standards in countries like the UK, USA, Italy, Canada, Germany, Australia, and New Zealand are higher than in India. The universities abroad provide international students with the best pathways to a global career. 

To study abroad, most students need financial aid. Many students use education loans to fund their dream of studying abroad. 

The amount of an educational loan is divided into three categories:

  • The amount in the first category is up to 4 lakhs. The students can easily take a loan of up to 4 lakhs on their behalf without any conditions or support.

  • The amount in the second category is between 4 lakhs to 6 lakhs. For this loan, the students need someone from their families as guarantors. 

  • The amount in the third category is six lakhs and above. Most of the students apply for this category of loan. For this loan, collateral is required.

Students must show sufficient funds in their accounts to study abroad. If the amount of education loan sanctioned matches the minimum funds required, no additional funds are needed to prove financial capability.  

The students can apply for an education loan through the Vidya Lakshmi Portal. This portal allows the students to apply for loans to multiple government banks with a single application. 

Our expert counsellors will provide you with the best support and guidance for foreign Universities and country visas. You can mail application02@meridean.org or call our toll-free no. 1800-1230-00011 for further assistance. 

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