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Abroad Education Loan Eligibility Criteria for Students
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Abroad Education Loan Eligibility Criteria for Students

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Raj
Raj Vimal
Assistant Manager Editorial
Updated on Oct 31, 2025 12:29 IST
Education loan eligibility criteria in India vary from bank to bank. Government and private banks offer education loans at cheap interest rates. Also, offer flexible conditions to candidates who fulfil education loan eligibility. Getting a study loan is helpful for Indian students to finance their higher studies dream.
education loan eligibility

Your age, course, university, and your co-applicant’s credit report decide your loan eligibility. Meeting these conditions improves chances of getting approval for your loan. Taking an education loan is a smart way to fund higher studies. You can check out government education loan schemes before applying. Only students who meet the criteria for education loan for abroad studies get benefits like interest-free loans and flexible repayment options.

Applying under government education loans can offer you secure lower interest rates, flexible repayment plans, and even moratorium periods until you start earning. Lenders usually prefer applicants with a good academic record and strong repayment capability.

Wondering who can get a student loan? If you plan to apply for an education loan for studying abroad, you must know the criteria for education loan for abroad studies. This article explains all the bank-wise eligibility rules to help you get the right funding.

Table of contents
  • Education Loan Eligibility in India 2026
  • Factors Enhancing Education Loan Eligibility
  • Documents Required for Education Loans
  • Tips to Get an Education Loan Approved
  • FAQs Related to Education Loan Eligibility

Education Loan Eligibility in India 2026

Students need to understand education loan eligibility guidelines and qualify for the same. The student loan eligibility criteria vary for different banks. However, some common factors are considered by all money lending institutions (banks). Below, we have listed key education loan eligibility criteria in a point wise manner:

Criteria for Education Loan for Abroad Studies
Indian Citizenship Applicant must be an Indian national.
Age Limit Applicant's age should be between 18 and 35 years
Academic Performance A strong academic profile with good marks in higher secondary (HSC) and graduation. 
Admission Letter Applicant must have received admission to a reputed overseas college.
Top Trending Course Applicant's chosen course must be technical or professional programmes.
Co-Applicant's Credit Report A good credit score and a stable source of income.
Collateral (Optional) Banks may ask for collateral for higher loan amounts.
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Factors Enhancing Education Loan Eligibility

Here are some point wise eligibility for education loan. Banks and NBFCs analyze profiles of candidates to offer study loans. Check out some factors that can help you become more eligible to apply for loan:

  • Academic record
  • Reputation of university
  • Cibil score of co applicant
  • Promising career prospects

Bank Wise Educational Loan Eligibility 

Check out the student loan eligibility criteria of different banks.

Bank Wise Eligibility for Education Loan
SBI
  • Citizenship: Indian national (including NRIs)
  • Admission Letter: Secured admission to approved courses (graduate/postgraduate, professional, technical)
  • Merit/Entrance Based: For studies abroad, admission through recognized tests/merit
ICICI Bank
  • Citizenship: Indian citizen
  • Age: Between 16 to 35 years
  • Academics: Good academic record; completed 10+2 or relevant diploma
  • Admission: Confirmed admission to recognized institution (India/abroad)
PNB
  • Citizenship: Indian citizen
  • Courses: Technical/professional/graduate/postgraduate (India or abroad)
  • Selection: Based on merit or entrance exams
Bank of Baroda
  • Citizenship: Indian citizen
  • Admission: Confirmed in graduate/postgraduate/diploma technical or professional course
  • Institution: Recognized by UGC, AICTE or regulatory authority
UCO Bank
  • Citizenship: Indian national
  • Admission: Through entrance or selection after 10+2 (or equivalent)
  • Age: Upto 28 (graduation, general), 30 (SC/ST); Upto 30 (postgrad), 33 (SC/ST)
  • Abroad: Relevant tests such as GRE, TOEFL, IELTS, etc.
Federal Bank
  • Citizenship: Indian citizen
  • Admission: Must be through recognized entrance exams/selection
  • Courses: Technical/professional courses approved by statutory bodies
Axis Bank
  • Citizenship: Indian citizen
  • Age: 18 years or older
  • Academics: Minimum 50% marks in 12th & graduation
  • Admission: Confirmed in approved career-oriented programs
  • Co-applicant: Required (parent/guardian/spouse) with stable income
Canara Bank
  • Citizenship: Indian citizen
  • Education: Completed 10th standard
  • Marks: Minimum 60% if no entrance exam
  • Admission: Confirmed in recognized institution (STEM for master’s)
  • Abroad: Must have cleared competitive entrance (SAT/GRE/GMAT)
  • Co-applicant: Required with income & credit history
Avanse Education Loan

For students

  • Nationality: Applicant must be an Indian citizen
  • Age: The applicant should be 18 or older
  • Admission: Should have a confirmed admission before the final disbursal
  • Co-borrower: Should have a co-borrower who earns in India

For Co-borrowers

  • Who can be a co-applicant:  An Indian citizen and must be a parent or other blood relative.
  • Bank account: Should have a bank account in India that allows them to sign cheques
  • Responsibility: Must be the primary debtor

Documents Required for Education Loans

Check out the list of documents for an education loan. For students and co applicants.

Documents Required for Study Loan
For Students
  • Proof of Identity (either): PAN/ Passport/ Driver’s License/ Voter ID card
  • Proof of Residence/ Address (either): Recent copy of Telephone Bill/ Electricity Bill/Water Bill/ Piped Gas Bill or copy of Passport/ Driving License/ Aadhaar Card
  • Income Proof
  • Valid Indian Passport
  • Academic Records: 10th Result and 12th Results
  • Graduation Result: Semester-wise (if applicable)
  • Entrance Exam Results through which admission has been secured, including GMAT, GRE, TOEFL, and IELTS scores
  • Proof of admission: Offer Letter or Admission Letter from the Institution.
  • Statement of cost of study/ Schedule of expenses
  • 2 passport-size photographs
  • If any previous loans from other Banks/Lenders, then the Loan A/C statement for the last 1 year
For Co-Applicants
  • Proof of Identity (any one): PAN/ Passport/ Driver’s License/ Voter ID card
  • Proof of Residence/ Address (any one): Recent copy of Telephone Bill/ Electricity Bill/Water Bill/ Piped Gas Bill or copy of Passport/ Driving License/ Aadhaar Card
  • 2 passport-size photographs
  • If any previous loans from other Banks/Lenders, then the Loan A/C statement for the last 1 year
Documents Required for Income Proof
  • Salary Slip or Salary Certificate of the last 3 months 
  • Copy of Form 16 for the last 2 years or a copy of IT Returns for the last 2 financial years, acknowledged by IT Dept.
  • Bank account statement for the last 6 months (of Salary Account)
  • Business address proof (For Self-Employed)
  • IT returns for the last 2 years (For Employed)
  • TDS Certificate (Form 16A, if applicable)

Tips to Get an Education Loan Approved

To guarantee that students receive financial help, banks are vigilant while evaluating a candidate's eligibility. The general academic standing of the applicants, their intended course of study, and their present admission status are taken into account before authorising a loan.

  • Obtaining a good grade or ranking on the prerequisite examinations
  • Showing academic excellence
  • Being accepted into a reputed university
  • Parents, guardians, and co borrowers have a solid financial history
  • Showing promise for new employment and revenue growth

Students should understand the entire education loan process is time consuming. It is always advisable to apply for an education loan months in advance. So, you have enough time.

FAQs Related to Education Loan Eligibility

Q:   Which bank gives an education loan easily?
A:

Here is list of best education loans in India with easy application process:

Government Banks
  • State Bank of India Education Loan
  • Canara Bank Education Loan
  • Punjab National Bank Education Loan
  • Bank of Baroda Education Loan
Private Banks
  • ICICI Bank Education Loan
  • Axis Bank Education Loan
Q:   For what type of courses do banks offer education loan for studying abroad?
A:

Generally, banks and NBFCs prefer to give loans for undergraduate and postgraduate courses. Also, the majority of banks prefer to give education loans abroad for pursuing job oriented and professional courses. Note that, if the university you are applying is reputated then you will face less issue while applying for loan.

Q:   What is the Responsibility of a Guarantor in an Education Loan?
A:

Becoming a guarantor for a loan is a huge responsibility. As a guarantor will have a legal obligation to pay in case borrower defaults on their payment. If loan amount exceeds INR 4 lacs, then the bank may ask for a guarantee from a third party. If borrower is not able to repay loan amount irrespective of circumstances. Guarantor holds liability to repay complete amount to banks.

About the Author
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Written by
Raj Vimal
Assistant Manager Editorial
Hi, I am Raj. I help Indian students figure out study abroad without the confusion. For 8+ years, mostly in Ed-Tech, I have written about the USA, UK, Canada, Australia, New Zealand, and Singapore. I cover what peo Read Full Bio
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Comments

(58)

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manoj kumar

3 years ago

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Hi I am having 12 Years of experience in Fire protection system, plan to do upgradation Fire related courses to develop and settle my career in abroad locations, please guide me what to do next?

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Rahul Singha

3 years ago

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Hello Manoj. You can get in touch with our Shiksha Study Abroad Counsellors, who provide assistance with university admissions: https://studyabroad.shiksha.com/apply

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emmanuel sebunya kato

3 years ago

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Hello sir am Kato sebunya Emmanuel a Ugandan student I want to study in Italy MBBS what can I do maybe to get a scholarship there

Reply to emmanuel sebunya kato

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Rahul Singha

3 years ago

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Hello Emmanuel. You should check out popular MBBS universities in Italy. You can check out our MBBS guide here: https://studyabroad.shiksha.com/study-mbbs-abroad-eligibility-colleges-fees-exams-jobs-articlepage-2551 and check out scholarships here: https://studyabroad.shiksha.com/scholarships

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kender kumar

4 years ago

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I want to get Bank loan for the abroad study so plz suggest me how I fill the tuition fees of University.

Reply to kender kumar

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Rahul Singha

4 years ago

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Hello Kender. You can apply for an education loan to take care of your university expenses as well as living costs. Kindly contact a bank closest to you to know more about the details on education loans. You can also visit: https://studyabroad.shiksha.com/apply-education-loan

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ranveer

4 years ago

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Hello sir, I want to study MBBS in Australia or UK. Can I get a 50 to 100% loan from any bank?

Reply to ranveer

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Rahul Singha

4 years ago

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Hello Ranveer. Most banks provide education loans for students wanting to study abroad. However, you would have to get in touch with the banks to understand the process of obtaining an Education Loan and complete the application that entails.

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marapalli vamshi

4 years ago

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Hello sir I want to do masters in london university but financially we are not settled , can I get educational without any land documents kindly give your piece of advice sir .

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sachin kumar

2 years ago

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ok

R

Rahul Singha

4 years ago

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Hello Marapalli. The right person to ask this would be the bank you are planning to take an education loan from. They will be able to give you other alternatives to availing of an education loan.