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Education Loan to Study in USA

USA is an attractive destination for Indian students seeking academic excellence and opportunities for professional growth. There are various compelling reasons due to which students prefer USA over other countries for their higher studies.

  1. Quality of education: USA is a home to many prestigious universities known for their high quality education, Research facilities and innovative teaching methods. Universities in USA rank among the top universities globally making it the most preferred study destination for students.
  2. Courses offered: Universities in USA offer vast array of courses in multiple fields like Science, Business, Art, Humanities and many more which allows students to pursue studies in the field of their interest. 
  3. Worldwide Recognition: Universities in USA are hardly regarded and carry a significant value in the competitive job hunting space.
  4. Scholarships: Many universities in USA offer merit based scholarships and financial aid packages. Students can also work part time to lessen the burden of higher education cost.
  5. Cultural diversity: Staying in abroad country provides cross cultural understanding, Personal & professional growth and prepares students for excelling globally with these skills.

Looking for an education Loan to Study Abroad?

Fill the form below and get in touch with the education loan expert

Education Loan options for students pursuing higher studies in USA:

The education loan can be classified in to two main categories 1) Secured Education Loan 2) Unsecured Education Loan

There are few key differences between secured and unsecured loan options.

1)Secured Education Loan:

Secured education Loan as the name suggests requires you to provide a collateral as security against the loan amount. If you opt for this category of loan then you don’t require a co- applicant for your education loan process to study in USA. Secured loans are provided by multiple banks and NBFCs at a different interest rate. You can reach out to Key2kred team to get the best interest rate for your education loan process to study abroad. We will speak to the banks on your behalf to obtain the best possible loan provider which will save you from talking to multiple Banks/ NBFCs or visit them personally.

 2)Unsecured Education Loan:

Unsecured loan doesn’t require you to pledge any collateral against the education loan amount. There are many Private Banks and NBFCs in India who provide unsecured education loans to study in USA. If you opt for unsecured loan option you will require a co-applicant with a good credit history and minimum salary requirement. However there are also some international lenders who provide unsecured loans without any co-applicant but the interest rate for the education loan to study in USA will be comparatively higher. These international lenders provide the loan in US currency i.e USD.

Collaterals accepted by Banks/ NBFCs for secured education loan:

A range of assets can be provided as collateral to secure an education loan to study in USA which include but not limited to,

  1. Fixed Deposits 
  2. Non – Agricultural Land
  3. Residential property 
  4. Commercial property
  5. LIC Insurance Policy
Expenses covered under education loan:
  • Tuition fee 
  • Living Expenses that includes accommodation, Food, Utility etc 
  • Visa Fee
  • Health Insurance
  • Any other expenses related to the course (Study tour, Project work, thesis etc)
Eligibility criteria for student to get education loan to study in USA
  • Student should be an Indian national.
  • Has good academic history
  • Student should have secured admission in the university in USA to pursue higher education
  • Student should have cleared the qualifying examinations like GMAT/ GRE, TOEFL/ IELTS etc (whichever is required)
Co Applicant’s eligibility criteria
  • The parent(s) of the student has to compulsorily join in as co-applicant.
  • In case of a married person, co-applicant can be spouse/parent(s)/parent(s)-in-law.
  • In cases where both the parents are not alive, close relative or guardian to be taken as co-applicant.
  • The co-applicant should be Indian national
Banks / NBFCs that provide education loan to study in USA
  • ICICI Bank 
  • Axis Bank
  • HDFC Credila 
  • Union Bank of India
  • Avanse 
  • Incred
  • Auxilo
Recognised Universities to get education loan to study in USA

Each Private Bank and NBFC have their own set of categories to list these universities. If you want to check if your university is recognised reach out to the key2kred team. The education loan expert will get in touch with you and provide all the necessary information.

Why you should choose key2kred for education loan
  • Lower Rate of Interest: We work with multiple private banks and NBFCs which enables us to provide you the best rate of interest for your education loan. Getting an education loan via key2kred will save you from the hassle of contacting multiple loan providers and visiting their office physically.
  • Low chances of loan rejection: For the education loan process there are many documents required which requires coordinating with Banks and making sure all the documents are proper to avoid your loan getting rejected. Key2kred helps to prepare your file and coordinate with Banks/ NBFCs to secure education loan for you at the best interest rate.
  • Faster education loan sanction: With key2kred your education loan will get sanctioned within 3-6 days of submitting all the required documents.
Documents required for education loan process to study in USA



1) PAN Card

2) Aadhar Card

For Address Proof

1) Valid Electricity/ Water/ Gas bill/ Postpaid bill

2) Voter’s ID card

3) Passport

4) House Rent/ Lease agreement

For Academic record:

1) 10th Marksheet

2) 12th Marksheet

3) Admit card proof

4) Entrance Exam result ( GRE/ TOEFL/ IELTS/ GMAT – if applicable)

5) Under Graduate result ( if applicable provide semester wise)

For Co-applicant – Salaried:

1) Salary Slips (Last 3 months)

2) Bank Account Statement (Last 6 months)

3) IT Returns/ Form 16 for last 2- 3 years

For Co-applicant – Self Employed/ Business owner/ Farmer 

1) GST or ITR  (Last 2 -3 years)

2) Bank account statement (Last 6 months)

3) Business Address Proof (if required

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