Working Hours Monday - Friday 08:00-16:00
Toll Free 1800.899.900

Loan eligibility

Eduloans charges an origination fees to its financial partners or students.

  • We do not charge any upfront fees to the borrower incase we get funding from a Nationalised bank. However, the student might be asked to pay charges to the nationalized bank for the processing of loan
  • In case of our inhouse NBFC or Investor we would be charging 1 % processing fees upfront and a small fees per year to facilitate the loand
  • In case we apply to US banks with valid co signor we would be charging the borrower upfront fees of 1% of the loan sanctioned amount

  • The Complete Education Loan (Including Tuition and Living)
    We have been sending students to various Universities globally across for last 5 years and have observed that students sometimes fail to cover complete cost of education. We endeavor to provide through our financing options the total cost of study to the student.
  • Most Flexible global/local Interest rates
    We through our financing partners look to provide you the best available interest rates to reduce your overall cost of borrowing. We try to arrange loans in the currency of study and repayment to suite the profile of the candidates.
  • Convenient Mortgage-able Security We try to find the most suitable solution to the security provided vs credit profile of the student and guarantor. We use innovative financial solutions to the advantage of the student.
  • Least Remittance/Forex Charges We are aggregators of remittances and provide hence are able to provide the most economical options for forex remittances

Indian Banks

Various financial institutions in India work with Eduloans and are able to, create awareness to the next generation of customers provide services at there convenience. The centralized system reduces the processing time of the loan and Bank is able to provide timely feedback.

Own Funds

Eduloans is a registered trademark for BITC Loan Services Pvt Ltd, A Non Banking Financial Institution. We also lend to students through our own line of funds in India or abroad

Foreign Banks

Banks in home country of study offer student loans with valid co signors/guarantors in the region. Eduloans works very closely with banks and can look to provide you the loans from foreign banks that are very cost effective.


We provide funds to the students by encouraging peer-to-peer lending on our platform. The automated underwriting system assigns the risk Vs return to the education loan. We generally also take small exposure in the loan to create equitable mortgage and reduce delinquency ratio.

University/Government Grants through Scholarships

We work very closely with Universities and Government bodies, which provide scholarships to meritocratic or underprivileged students.

The maximum loan amount that you can borrow is 100% of your total amount required for study which includes Tuition, Living, books, other miscellaneous expenses, etc.

We can unfortunately not advise on tax matters as it applies in various financial institutions. You will have to discuss this with a the financial institution or other appropriate advisor in your country.

Collateral is a property or other asset that a borrower offers as a way of securityto a lender of a loan. If the borrower stops making the promised loan payments the lender can seize the collateral to recover its losses.

  • Since collateral offers some security to the lender, should the borrower fail to pay back the loan, the security is used as a way of repaying of the losses.
  • Loans that are secured by collateral typically have lower interest rates than unsecured loans.
  • The lender can look to offer loans on collateral to a wider range of students as well as weaker sponsor credit profiles.

All financial institutions provide collateral loans. When it comes to being approved for a loan it’s all about the risk.Every lender has their own way of assessing risk based on student profile credit history of sponsor, employment potential etc. Your potential lender can finance you even if you have a weak profile provided collateral is used as a security against the loan. Hence it is always advisable to trying this option first.

Collateral can be in the form of all types of asset classes –
Real estate (House, Shop, etc.), Shares, Gold, Fixed Deposits, Insurance policy(net realizable value), Bonds, etc. The collateral has to have a clear title and should be mortgage-able. All asset classes have to be evaluated by Govt. approved values and each of them has a different risk parameter.

The Mortgage-able property owner has to preferably be a blood relative. In case the same is not a blood relative we would require an undertaking from the primary holder and next of kin, accepting the terms and conditions of the mortgage. They would have to be co-borrowers/guarantors.

An unsecured personal loan is simplya fixed-rate loan that you can receive without collateral/security to guarantee it. The same can be used for education purpose

Typically all potential students can avail Non collateral Loan, however with the riskier profile of the loan it is provided to the students who have secured admission into top schools globally and have a very strong Co-signor/Guarantor.

We generally restrict the Loan amount to not more than 50% of the course fees. We require proof of payment of the balance funds.

Yes, the College/University is informed about the loan and we generally require a confirmation from the University, of you joining the college, example, I20, Admit Letter, etc.

Our partnering institutions like Private Investors, Non Banking Finance Corporation, Hedge Funds and University Endowment Funds generally provide unsecured loans. Each of these Institutions hasits individual risk and screening methods.

A partially secured loan is the one in which the underlying security is less than the loan approved value. The partially secured loan can be looked at with lesser risk than completely unsecured loan.

The interest rate for an unsecured loan is generally higher than a secured loan. A loan in INR would be around 12 -15% and in USD would be around 7 -10%.

We require you to fill up the basic details. Our experienced guidance counselor would get back to you with the response from our financing partners.

A foreign institution gives an education loan to a student who is not a resident/citizen of the country but is or will be a bona fide student in the country will qualify as an International Education loan.
Usually all the loans need a guarantor from the country where the student is looking to pursue his education.

You must be a graduate student and:

  • You must be enrolled as a graduate student at an eligible school, and seeking a degree, certificate, or license.
  • You must be making satisfactory academic progress in an eligible program.
  • You must have an eligible U.S. citizen/ Green Card holder to co-sign (Guarantee) your loan.
  • Be the legal age of majority, or at least 17 years of age at the time of application if applying with a cosigner who meets the age of majority requirements in the cosigner's state of residence

A cosigner is an additional applicant besides the student, such as a parent, guardian, grandparent or other person, who will bear the same legal responsibility as the student. He is the guarantor of the loan. The co signor needs to be a green card holder/U S citizen.

A good cosigner:

  • Has a substantial credit history
  • Does not have any serious negative items on their credit report
  • Meets their credit obligations on time
  • Is not over burdened with debt
  • Has steady employment and/or income sufficient to meet debt obligations

Interest rates are determined by and cosigner's credit histories, the repayment option and loan term selected, and the requested loan amount and other information provided on the online loan application. The prevailing tentative rates are

  • Current variable rates range from 3.0% APR to 9.0% APR
  • Current fixed rates range from 4.5% APR to 10.5% APR

Choose what's best for you: upon approval, applicants can compare loan options to determine the impact to their monthly payment amount and total loan cost

  • Choice of rate type : fixed or variable
  • Choice of loan term : 5, 7, 10 or 15 years (Depending on the bank)
  • Choice of repayment option:
    • Immediate Repayment, Interest-Only, Partial Interest, Full Deferment
    • Students can select full deferment or can select a repayment type that allows them to make partial or full payments while in school7
  • Grace period : generally six months

Each bank has variable amount of loan that generally depends on the credit profile of the candidate/co signor

  • Minimum loan amount: $1,0019
  • Annual loan maximum: $65,00010
  • Aggregate student loan limit (total amount of student loan debt allowable): $150,00011

  • Step one Basic form filing:
    • Fill up the form provided by Eduloans along with Application fees of INR 10,000 (7,500 refundable if loan not approved).
    • Eduloans would ascertain basic feasibility/completeness of the application.
    • Eduloans would apply for your loan application to US banks
  • Step two Loan Options
    • Upon passing the initial credit review, loan options (including interest rates, repayment plans and repayment terms) are presented to the client. The client selects the best loan option ( Bank/Interest rate/term of loan)
    • The client confirms the loan agreement and pays 1% processing charge to eduloans.
  • Step Three Loan Documentation:
    • Once loan options are selected, a list of required documentation for the specific bank is sent to the client
    • Required documentation must be submitted for the loan process to continue. Generally we have a time limit of 60 90 days for the application.
    • Documentation can be sent online to eduloans for application
  • Step four Loan Agreement:
    • After all required documentation has been received and approved, financial institutions will send Loan agreement outlining the terms of the loan based on the preliminary loan amount before school certification
    • The Loan Agreement must be accepted within 30 calendar days if the student and cosigner agree to the loan terms
    • Acceptance of this can be given through the applicant's online fax or by mail
  • Step Five School Certification (If required by Bank)
    • The Bank requires certification of the loan from the student’s school of attendance.
    • The school will certify the loan ensuring that the student is enrolled at least half time, that the loan amount is correct, and will confirm disbursement specifications.
  • Step Six Final Loan Agreement
    • After school certification is received, the final loan terms will be outlined in a Final loan agreement which will be mailed to both the student borrower and cosigner
    • 3 Day rescission/rejection period the student borrower and cosigner, if applicable, will have three business days to cancel or rescind the loan
  • Step Seven Loan Disbursement:
    • Amounts and timing of when a loan is disbursed is given to financial institution by the school
    • A loan may have up to four disbursements and disbursement amounts do not have to be equal
    • Funds are sent to the school and applied to the student's account; any overage of funds above/beyond what is owed to the school ( for living purpose) is handled between the school and student
  • An investor is an HNI, a debt fund, etc. who invests in a single/basket of loans. Eduloans provides a comprehensive financing platform connecting educational aspirants with potential Financial Institutions, Investors and endowment Funds. We are also a registered NBFC with RBI and provide the platform for you to choose the best financing options to finance your education with least hassles.

    We request you to fill out your complete application for Investor Loan. Once your application is complete we forward your profile to our interested investors along with your credit review by our data scientist. Once an investor shows interest our guidance counselors would contact you and can look to connect you to the potential investor.

    We would charge you as soon as you get a financing offer from an investor. We then charge you 1% + Applicable Govt. taxes and then process the loan. We then charge the investor a small percentage of the loan outstanding amount.

    We would require personal guarantees of the bonafide student as well as his co-signors or guarantors. We would also take security cheques with appropriate Power of Attorney of the sponsors. We would intimate credit bureau on the loan taken such as CIBIL etc. We would also inform our partnering university about the loan facilities availed.

    The payment and repayment is governed by Eduloans. The investor would provide us the funds. We would complete the legal formalities. We would remit the funds to the University after the student has joined the University and we receive an email from the admissions department that the student is enrolled full time. We would then expect the student to provide us monthly payments, which we would then remit to the investor. We are facilitating the loan however we are not responsible in case the student refuses to pay the monthly payment. We would assist the investor in recovering the dues from the student.

    The investor is required to fill in the basic details and then our experienced wealth managers would get back to you shortly.

    The loan is subject to Indian laws and jurisdiction.

    Please consider scholarships, fellowships or other financial aid before deciding the loan amount you need.

    We respect your privacy and will not send you spam emails.

    Enter the 10 digit mobile number, without any prefix.

     Collateral     No Collateral     US Cosignor     Investor Loan

    Have Additional Questions ?

    Visit our support page to get your questions answered