💰 Complete Guide to Study Loans for Higher Education Abroad

Pursuing higher education abroad can be expensive, but with the right study loan, students can achieve their dream without financial stress. At Swift Legal Services & Associations, we help students understand, apply, and secure education loans from major banks to study in countries like Australia, Canada, USA, UK, Germany, Poland, Italy, Spain, and more.

🔹 Why Study Loans Are Important

• Access to Quality Education: Enables students to study at top-ranked universities worldwide.

• Flexible Repayment Options: Loans come with extended repayment schedules after graduation.

• Low-Interest Schemes: Government-backed and bank-sponsored loans often offer lower interest rates.

• Financial Security: Students don’t need to rely solely on family savings.

🔹 Major Banks Providing Study Loans in India

1. State Bank of India (SBI) – SBI Global Ed-Vantage

   • Loan Amount: Up to ₹1.5 crore

   • Coverage: Tuition, living expenses, travel, and exam fees

   • Interest: ~8% per annum

2. HDFC Bank Education Loan

   • Loan Amount: Up to ₹50 lakh

   • Benefits: Quick processing, flexible EMI options

   • Collateral required for higher amounts

3. ICICI Bank – Education Loan

   • Loan Amount: Up to ₹50 lakh

   • Features: Coverage for tuition, living costs, accommodation

   • Collateral may be required for higher loan limits

4. Punjab National Bank – PNB Education Loan

   • Loan Amount: Up to ₹20 lakh (higher for co-applicant security)

   • Special schemes for overseas study

5. Axis Bank – Education Loan

   • Loan Amount: Up to ₹35 lakh

   • Features: Easy repayment post-study, instant approval for pre-qualified students

6. Bank of Baroda – Education Loan

   • Loan Amount: Up to ₹50 lakh

   • Special focus on students going abroad for medical, engineering, and MBA

7. Central Bank of India – Education Loan

   • Loan Amount: Up to ₹20 lakh without collateral

   • Suitable for low-budget students

💡 Tip: Many banks provide co-applicant facility, moratorium on repayment, and interest subsidy schemes under government programs.

🔹 Documents Required to Secure a Study Loan

1️⃣ Student’s Documents:

• Admission letter/offer from the foreign university

• Mark sheets and certificates (10th, 12th, Graduation if applicable)

• Passport copy

• Visa (if already applied)

• Statement of purpose (some banks may require)

2️⃣ Parents/Co-applicants’ Documents:

• Identity proof (Aadhaar, PAN card, Passport, Voter ID)

• Address proof (Utility bills, Aadhaar, Passport, or Rent agreement)

• Income proof (Salary slips, Form 16, IT Returns)

• Bank statements (last 6 months)

• Collateral documents (if required, e.g., property papers, fixed deposits)

3️⃣ Additional Bank Documents:

• Loan application form (bank-specific)

• Fee structure and university invoice

• Guarantor documents (if applicable)

Having all documents ready ensures a smooth approval process and faster disbursal of your education loan.

🔹 How Swift Legal Services Helps

We provide end-to-end guidance for students seeking study loans:

• Loan Eligibility Check: Ensuring you meet bank requirements.

• Documentation Assistance: Form filling, KYC, admission proof, and tuition invoices.

• Application Follow-up: Coordinating with bank officials for faster approval.

• Financial Planning Advice: Helping students manage tuition, living expenses, and EMIs efficiently.

🔹 Key Takeaways

• Study loans make quality education abroad accessible for students from all backgrounds.

• Preparing all required documents is crucial for smooth approval.

• Expert guidance from Swift Legal Services ensures fast processing, correct documentation, and stress-free disbursal.

📞 Contact Us Today
Start your journey towards higher education abroad with complete financial support.

Let Swift Legal Services & Associations assist you in securing your study loan, planning your expenses, and achieving your global education goals.