Education Loan for MS in the USA
End-to-end financial assistance for your Master’s programme in the USA.
*T&C Apply. Subject to restrictions under the Income Tax Act,
1961 and Budget 2025.
*T&C Apply. Subject to restrictions under the Income Tax Act,
1961 and Budget 2025.
Is the cost standing between you and your US MS ambitions? From tuition and accommodation to travel, the expenses can quickly add up. That’s where an education loan for an MS in the USA steps in. Specially designed for students aiming to study abroad, these loans offer financial support with flexible repayment options and attractive interest rates. Focus on your academic journey, gain global exposure, and shape a successful future, without letting the price tag hold you back.
Cost of Studying MS in the USA
| Country | Average Tuition Fees (USD) | Average Tuition Fees (INR) | Remarks |
|---|---|---|---|
| United States | $20,000 – $30,000 | ₹16,80,000 – ₹25,20,000 | Varies by university and specialisation |
Source : https://www.idp.com/india/blog/ms-in-usa-cost/
Note: The study fees for Indian students mentioned above are tentative and based on estimates for 2025. Tuition costs may vary depending on the university (public or private), country, course specialisation, and other factors. It is always best to check with the university for the most accurate and updated fee structure.
Note: For this guide, we are using the current exchange rate as of September 2025: 1 USD = INR 85.51. All INR conversions in this guide are based on the exchange rate listed below, so please check the latest rates when planning your expenses.
Types of Education Loans for MS Students in the USA
Broadly, there are two main types of education loans:
- Secured Education Loan: A secured education loan is backed by collateral, such as residential property, fixed deposits, or insurance policies. This collateral will serve as a guarantee for the lender in case the borrower defaults.
- Unsecured Education Loan: An unsecured education loan is a type of student loan that does not require any collateral or security. Approval is based on the borrower’s financial profile.
Eligibility Criteria for an Education Loan in the USA
To qualify for a student loan in the USA, here are the eligibility criteria:
- Applicant Age: 16 years or above
- Co-Applicant: Generally required can be a parent, spouse, or guardian
- Eligible Students: Those enrolling in bachelor’s or master’s programmes
- Approved Courses: Academic or professional programmes (MBA, MS, MBBS, etc.)
- Recognised Institutions: Universities and colleges accredited in the USA
Documents Required for an Education Loan for an MS in the USA
To apply for an education loan, here’s a checklist of documents you’ll need. Requirements vary slightly based on your co-applicant’s income type.
| Document Type | Details |
|---|---|
| A. Application Form | Completed original or digital loan application form |
| B. KYC Documents | PAN Card or Form 60 (mandatory if PAN is mentioned) ONE valid ID & address proof: Passport / Driving License / Voter ID / Aadhaar / NREGA Job Card / NPR Letter |
| C. Student Education Documents | 12th Marksheet (not needed for UG applicants in 12th or Exec PG) Latest semester/year marksheet or transcript Admission proof (Admission Letter / I-20) |
| D. Co-Applicant Financials | |
| → Salaried | Last 6 months' salary account bank statements 1 recent salary slip/certificate |
| → Self-Employed (Non-Proprietor) | Last 6 months Current & Savings A/c bank statements Last 2 years ITRs (online acceptable) 44AD: income statement only Tax audit: CA attestation required Optional: Qualification proof, GST/Shop Act/Aadhaar Udyog |
| → Proprietor | Last 6 months Current & Savings A/c bank statements Last 2 years ITRs 44AD: income statement only Tax audit: CA-audited financials (P&L, BS, Computation, Schedules) |
| → No Income | Last 6 months Savings A/c bank statements |
| → Pensioner | Last 6 months Savings A/c with pension credits OR Pension Order |
| E. Collateral Documents (if applicable) | Latest sale deed Property tax receipt Approved building plan or Occupation Certificate |
Interest Rates on Education Loans for Studying MS in the USA
Get the funds you need for your education abroad with competitive interest rates and zero prepayment or foreclosure charges!
| Feature | Details |
|---|---|
| Interest Rate (Floating) | Starting from 9.95%* p.a. |
| Origination Fees | 1.25%* + GST |
| Prepayment & Foreclosure Charges | NIL |
How to Apply for an Education Loan to Study MS in the USA
Follow this 3-step process
A simple and transparent journey.
1- Apply Online
Fill out the application form and upload documents.
2- Application Review
Get your sanction letter after our credit appraisal.
3- Funds Disbursed
You are all set to get started.
Why Avail a Credila Education Loan?
Save time. Go online.
Customer-centric processes with just 3 steps to disbursement.
We cover it all
Up to 100% financing of tuition and living expenses.
Start early. Apply before admission.
Benefit from seamless loan sanctions.
Friendly rates. All the way.
Student loans with customised interest rates.
Dream big. Achieve bigger.
Exploring funding for larger education costs? Not a problem.
Pan-India network of branches
Enjoy multi-city co-borrower(s) and collateral flexibility.
The benefit of tax saving
Added tax deductions# that bring down your cost of financing
Flexible payment plans
Repayment tenure of up to 15 years.
No hidden charges
What you see is what you pay.
*This is subject to restrictions imposed under the Income Tax Act, 1961 and Budget 2025.
Expenses Covered Under Student Loan for MS in the USA
When you take an education loan for studying MS overseas, the following expenses are typically covered:
- Tuition fees and academic charges.
- Hostel or on-campus accommodation.
- Cost of living (food, transport, utilities, etc.).
- Books, lab supplies, and other learning materials.
- Laptop or computer (if required for coursework).
- Examination and library fees.
- Other education-related expenses as approved by the Credila.
Repayment Options for Overseas MS Loan for Student
Repayment for MS education loans is designed to be student-friendly and flexible:
- EMI-Based Repayment: Start paying in EMIs after the moratorium ends.
- Part-Payment Option: Make partial payments during the course to reduce the total interest.
- Flexible Tenure: Repayment tenure of up to 15 years based on your profile.
- No Prepayment Penalty: You can repay early without any additional charges.
Disclaimer: *T&C apply. Credila Financial Services Limited (Formerly known as HDFC Credila Financial Services Limited). The education loan facility provided by Credila Financial Services Limited will be at the sole discretion of the Company and within the Company's prescribed credit and underwriting norms/guidelines prevailing at the time of processing and disbursing the education loan. The Company maintains the right to change the interest rate at any time and at its sole discretion, without prior notice.
No claims, guarantees, representations, or warranties, whether express or implied, are made by Credila with respect to any communication, reliability, merchantability, quality, fitness, durability, performance and usefulness of any of the products/service and/ or information mentioned therein. Furthermore, Credila accepts no liability whatsoever for the safety, reliability, durability and performance of any of the products/ service and/ or information mentioned therein. For detailed terms and conditions you can visit Credila's official website - https://www.credila.com/
