The amount of education loan a student can get for studying in the USA depends on several factors, including the chosen course, university, total expenses, collateral offered, and the lender’s policies. Here’s a general overview:

1. Loan Amount

- With Collateral (Secured Loan):
- Indian banks and NBFCs can offer loans up to INR 1.5 crore (sometimes more) if you provide collateral such as property, fixed deposits, or other assets.
- Without Collateral (Unsecured Loan):
- Generally, unsecured loans range from INR 7.5 lakhs to INR 50 lakhs. The exact amount depends on your academic profile, co-applicant’s income, and the lender’s assessment.

2. What Does the Loan Cover?

Most banks/NBFCs cover:
- Tuition fees
- Living expenses (accommodation, food, etc.)
- Health insurance
- Airfare
- Study materials and equipment
- Other related expenses (exam fees, library, lab fees, etc.)

3. Loan Disbursement

- The loan is usually sent directly to the university to cover tuition.
- Living expenses are often transferred to the student’s account in tranches.

4. Eligibility Criteria

- Admission to a recognized US institution (usually for STEM, business, or other in-demand courses).
- Co-applicant/guarantor with a stable income (for unsecured loans).
- Good academic record.

5. Popular Loan Providers

- Public Sector Banks: SBI, Bank of Baroda, Canara Bank, etc.
- Private Sector Banks: Axis Bank, ICICI Bank, HDFC Bank, etc.
- NBFCs: HDFC Credila, Avanse, InCred, Auxilo, etc.

6. Margin Money

- Some banks require you to fund a small percentage (usually 10-15%) of the total cost on your own, especially for loans above INR 7.5 lakhs.

7. Interest Rates & Repayment

- Interest rates typically range between 9% and 13% per annum (can vary by lender and secured/unsecured loan).
- Repayment usually starts 6-12 months after course completion (moratorium period).

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Pollster Education provides complete education loan assistance for studying in the USA. We can guide you on choosing the right lender, help with documentation, and maximize your chances of approval.

Would you like a personalized loan eligibility assessment or support with loan application?
You can visit us at our office:
8, Alankar Building, 1st Floor, Balaram Street, Above Bank of India, Grant Road (E), Mumbai.
Or contact us at +919324480791 | info@pollstereducation.com.