Although it might potentially change your life, studying abroad is not always an easy decision. People who want to pursue higher education overseas but are having problems raising the necessary funds now have a method to do it. In this essay, we'll cover every facet of student loans for overseas study. whether it be the criteria for qualifying, the loan application procedure, or the documentation required. We'll also talk about a few other issues related to student loans, such as the role of a guarantor and student loans issued by Indian banks. We will cover every possibility for anyone looking for an education loan to study abroad.

Eligibility Criteria

Checking your eligibility to qualify for an education loan should be your top priority. The following is a list of the normal terms and restrictions that any bank will usually adhere to when making an education loan. Please be aware that when applying to a specific bank, such requirements may vary from one bank to the next.

  • The candidate must be an Indian national.

  • If the applicant is under 18 years old, then his or her parents will have to take out the loan.

  • The candidate must have a strong academic record.

  • The student should have been accepted to a reputable overseas university, institution, or college.

  • Since banks favor courses that are job-oriented, the applicant's chosen course must be technical or professional in nature.


The applicant must be fully informed of the documentation needed to apply for a study loan abroad before applying for an education loan. When applying for an education loan to study abroad, the following paperwork is needed:

  1. Filled out an application

  2. Passport-size photos of the applicant and the co-applicant are required.

  3. Both the applicant and the co-applicant must present a photo ID. It could be a passport, PAN card, driver's license, voter ID card, or Aadhar card.

  4. Residence Evidence Proof of residency for the applicant and co-applicant

  5. Academic records: The applicant's transcripts and certificates

  6. Mark sheet (Score Report), as appropriate, for the GRE, GMAT, TOEFL, IELTS, etc.

  7. An admission letter sent by the institution or college serves as a verification of admission.

  8. Bank statements: The co-last applicant's six months' worth of bank statements.

  9. Income documentation: Co-applicant income documentation

  10. The following documents are needed in the event of collateral (immovable property), which can be a flat, a house, or non-agricultural land:

  11. The real estate title deed

  12. NOC for a mortgage from a builder or society for a building-authorized plan

Technical Documents

In addition to the documents indicated above, applicants need to have a few extra technical documents in order to apply for a student loan.

  • Title Act (all the pages to be attached)

  • Copy of the permissions and approved layout plan, when applicable

  • Income tax form (Khata/Patta)


  • Certificate of Non-Encumbrance

  • Holding a Certificate (In case the flat is taken from a builder)

  • The newest tax invoice for properties

  • Copy of the Deeds of Prior Sales

  • Confirmation of conversion

  • Urban clearance document (Case-specific)

Legal Documentation

Aspirants require a list of legal documents in addition to the usual and technical ones in order to apply for an education loan.

Sale, gift, or partition deed in the customer's favor - Minimum age 13

Extract and Khata Certificate in the name of the current owner

Certificate of Encumbrance, minimum 13 years, showing all sales transactions

the newest tax invoice for properties

NOTE: Depending on the rules of the banks, these requirements may change.

Loan Procedure for International Studies

It is usually good to apply for a loan a little early because the entire loan process—from loan application to approval and disbursement—takes time. To apply for a student loan, do the following:

  1. Check to see if the course you plan to enroll in is accepted by the banks.

  2. Determine how much of a loan you will need and how much you can arrange on your own.

  3. Choose the student loan that best suits your needs by comparing those offered by various banks for studying abroad.

  4. Fill out the loan application form and go to your bank after deciding on the bank and the loan amount.

  5. The bank will issue loan paperwork with all of the loan's components as soon as your loan is approved.

  6. The bank will transfer the money to the co-applicant’s account or to the University account.

Do not hesitate to apply for your ideal university and degree after carefully reading the text to fully understand all the loan procedures.

Rishika Jain 1 year ago
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