Education Loan for Studying in USA

You can easily apply for and get an education loan sanctioned for the courses that you want to pursue in the US. But the complicated application process, hidden costs, and confusing interest rates on education loans are the common issues that you may face.

Over the years, banks and NBFCs have dominated the space of education loans for study in the US. However, the loan amount sanctioned, and the disbursement is quite complex. It takes between 2-3 weeks to over a month to finally receive the loan amount. Sometimes the amount disbursed is done in parts - biannually or annually which complicates the borrower’s key decision-making skills. Although Indian students comprise 25% of the students who are accepted into the STEM universities in the US, it is unfortunate that they pay almost twice the rate of interest on the loan amount than their American counterparts. 

You must have a clear idea of the education rate of interest that is applied to the amount which you have to repay after you have taken an education loan. This allows you to make quick decisions and have clarity about how you want to structure your new life and finances during the repayment period.

A lot of banks, NBFCs, and private lenders offer education loans to Indian students applying for MS abroad at competitive terms. However, there are a lot of hidden costs that you are unaware of till the last moment.

That’s why you need a smart, transparent, and advanced lender who clears all your doubts. These doubts include, how much can you be eligible to borrow, what your repayment timelines are, how much rate of interest is to be accrued on the amount borrowed and what your repayment structure looks like. If your lender is unable to offer you a simple loan interest rate breakup or is unable to give you a clear outline of all the terms and conditions to be taken care of while repaying the loan via EMIs, you can face a lot of issues.

At Leap Finance we apply simple, fixed interest rates that are customized according to your application. You know upfront what you have to pay, and this helps you prepare for the repayment process in a structured manner. 

Leap Finance is India’s foremost direct lender that provides attractive education loans for USA at low-interest rates, designed to personally suit every applicant. We invest in your potential and not your current assets or your family’s assets. 

Some of the factors which differentiate Leap Finance from others are -

• No collateral required
• Completely online process
• Quick process, get a loan offer in 10 minutes
• Very competitive interest rates, starting at 8.49% (variable)

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 a 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.

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 that are required to apply for an education loan with Leap Finance.