Education Loan for Abroad Studies

An education loan is an easy and comfortable way to fund your international education. You don't have to dip into your family savings or get a loan sanction where you pledge your assets as collateral to fund your study abroad dream.

You can take an education loan for studying abroad to cover all your academic and living expenses and pay it off after you graduate and start working abroad.

However, even today, securing a loan for studying overseas is quite a tough task in India, despite many technological and credit innovations in the sector in the past few years.

The application process is long and tedious.  The actual disbursal of the foreign education loan is done in parts, while the interest rates levied are confusing, not standardized, and undemocratic.

How does Leap Finance help to get Education Loan for Abroad Studies?

This is where Leap Finance steps in and provides you with financial solutions that give wings to your dreams.

Leap Finance is India’s foremost neo-bank that believes that the limitation of finances should never be an impediment for ambitious and deserving future global leaders living in India.

It is a fact that Indian students are charged almost twice the rate of interest on their education loans for abroad studies compared to their American counterparts. We believe this discrimination exists because of systemic inefficiencies and a lack of innovation. We innovate on technology, financial structuring, and risk to reduce the interest rate and improve our customer experience.

You can know exactly how much you can take as a foreign education loan in just 10 minutes. Using our loan EMI calculator, you can also calculate the fixed amount you will need to pay off your education loan for your abroad studies.

Wondering if you are eligible for foreign education loans from Leap Finance?

Of course! All students above the age of 18 years, whether applying to or having applied to the university supported by Leap Finance, are eligible for obtaining an education loan for studying abroad.

How to apply for an Education Loan for Abroad studies?

Obtaining a foreign education loan from Leap Finance is a fairly simple process. We know how cumbersome the education loan application process can be and we decided to cut through the clutter and give you a clean, transparent, and simple application process with stress-free disbursement and fixed intuitive repayment terms.

The application process is 100% online and merely takes 10 minutes. You can easily apply from home and get the official sanction letter. 

What are the Documents required for an Education Loan for Abroad studies?

As we have a completely online application process, the submission of documents is fairly convenient and easy. Secondly, we do not require collateral to sanction your loan amount, thus lesser documents are needed for the loan application. No more running around obtaining multiple documents and giving up key moments of your life before flying off to study at the college of your dreams.

Here is the complete list of documents required to apply for a foreign education loan with Leap Finance.

STUDENT APPLICANT  LIST

1. Pan card
2. Aadhar card- 2 pages
3. Passport (First and last page)
4. 10th, 12th, BE, or Higher degree transcripts incomplete.
5. Credit report
6. Latest 3 months payslips and 6 months banking-if applicable (In case of lockdown at least one payslip and 1-month banking within the last 3 months to be submitted)
7. GRE/ IELTS/TOEFL scorecards
8. Admission letter
9. Passport size photo

CO-BORROWER LIST- SALARIED

1. Pan card
2. Aadhar card 2 pages
3. Residence proof
4. Latest 3 months payslips & 6 months’ salary credits banking (In case of lockdown at least one payslip and 1-month banking within the last 3 months to be submitted)
5. Form 16 for the last 2 years
6. Credit report
7. Additional income if any proof of the same

CO-BORROWER SELF EMPLOYED

1. Pan card
2. Aadhar card 2 pages
3. Residence proof
4. Individual ITR for last 2 years with Computation of Income, Trading and P/ L account, Balance sheet
5. Latest 6 months individual banking (In case of lockdown at least 3 months of latest banking to be submitted)
6. Cibil report
7. Additional income if any proof of the same

How to get an instant study abroad loan for MS in the USA?

Follow 3 simple steps you can apply for education loan for MS in USA

Step 1: Fill out a loan application form online on Leap Finance.

Step 2: Get an instant loan offer and repayment interest.

Step 3: Talk to our team and sign your contract after submitting all your documents