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Introduction
Going abroad for education is a valuable chance for many Indian students. Because they can access
better colleges, explore different cultures, and improve their career options, the number of Indian students studying abroad grew by about 20% in 2023 (Ministry of External Affairs, India).
At the same time, pursuing education abroad can be very expensive. Tuition and living costs usually fall within ₹20 to ₹80 lakhs, which vary by country and the program chosen. Therefore, education loans can be very helpful, and obtaining them requires deep research and understanding to connect with leading study visa consultants in Ahmedabad to leverage for achieving your dreams.
The Indian Education Loan Market: An Overview
The craze of going abroad is skyrocketing and has caused the Indian education loan market to expand steadily. Based on data from the Reserve Bank of India (RBI), loans for education totalled about ₹84,000 crores in 2023, while more than sixty percent of these funds went toward international studies.
There are two key categories of lenders in India:
⇒ Public Sector Banks (e.g., SBI, Bank of Baroda)
⇒ Private Banks & NBFCs (e.g., ICICI Bank, HDFC Credila, Avanse)
All loans differ depending on their rates, what must be used as security, and the length of the process.
Types of Education Loans in India
⇒ Secured Loans (With Collateral)
⇒ Unsecured Loans (Without Collateral)
Factors That Affect Loan Approval
⇒ Academic Performance (GPA, entrance exams like GRE/GMAT/IELTS)
⇒ University Ranking and course ROI
⇒ Co-borrower’s Financial Profile
⇒ Collateral Quality (for secured loans)
Government Schemes You Should Know
⇒ Padho Pardesh (Discontinued in 2022) – Previously offered subsidies for minority students.
⇒ Dr. Ambedkar Scheme – For OBC/EBC students with interest subsidy.
⇒ Vidya Lakshmi Portal – Centralized platform to apply to multiple lenders.
How Agile Consultancy Can Help
Agile Consultancy supports students by helping them sort through loan applications, assessing lenders, filling out forms, and providing the best possible options based on insights. Because we have knowledge of both, the Indian financial system and international education, we guide you to make the best decisions that fit your situation.
As leading Student Visa Consultants in Ahmedabad, we assist.
⇒ Personalized loan comparisons
⇒ Application and documentation support
⇒ Fast-track processing with NBFC partners
⇒ End-to-end education consulting
