Choosing to pursue a law degree abroad offers Indian students the opportunity to gain a global legal perspective, understand international laws and frameworks, and build a strong foundation for a successful legal career. With exposure to diverse legal systems, specialised courses like corporate law or international arbitration, and multicultural learning environments, studying law overseas can open promising career opportunities. Many students finance this journey through an education loan for studying law abroad, making it more accessible and achievable.
Cost of Studying Law Abroad
| Country | Degree Duration & Type | Tuition Fees (approx. per year) | Estimated Living Costs (per year) | Total First-Year Estimate* |
|---|---|---|---|---|
| UK | LLB – 3 years, LLM – 1 year | ₹17,00,000 – ₹30,00,000 | ₹9,00,000 – ₹14,00,000 | ₹26,00,000 – ₹44,00,000 |
| US | JD – 3 years, LLM – 1 year | ₹75,00,000 – ₹80,00,000 | ₹10,75,000 – ₹15,00,000 | ₹85,75,000 – ₹95,00,000 |
| Canada | JD – 3 years, LLM – 1 year | ₹9,00,000 – ₹18,00,000 | ₹9,00,000 – ₹12,00,000 | ₹18,00,000 – ₹30,00,000 |
| Australia | LLB – 4 years, JD – 3 years, LLM – 1 year | ₹25,00,000 – ₹83,00,000 | ₹16,00,000 – ₹23,00,000 | ₹41,00,000 – ₹1,06,00,000 |
| Germany | LLM – 1 to 2 years | ₹15,000– ₹19,00,000 | ₹8,90,000 – ₹13,40,000 | ₹9,05,000 – ₹32,40,000 |
Note: The above figures are approximate estimates. Tuition fees and living costs may vary depending on the city, university, programme type, and the student's lifestyle. Always check official university and government sources for the most accurate and updated costs.
Source: https://www.credila.com/study-abroad/cost-of-studying-in-uk
https://www.news18.com/education-career/study-law-abroad-cheapest-countries-to-study-law-in-english-if-you-missed-clat-or-nlu-seat-ws-dl-9371402.html
https://collegedunia.com/germany/article/llm-in-germany
https://www.idp.com/blog/law-courses-in-australia/
Types of Education Loan for Law Abroad
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 Education Loan for Law
Studying law abroad is now easier with flexible student loan options specifically tailored for top universities and courses.
- Who Can Apply? Students can apply for an education loan with a parent, guardian, or spouse as a co-applicant.
- Age Requirement: You have to be at least 16 years old at disbursement
- Who Can Get a Loan? Students enrolling in a Law programme.
- Courses Covered: Full-time Law programmes by recognised universities.
Documents Required for an Education Loan for Law
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) – waived for Sampoorna |
| 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 Law
Get the funds you need for your education abroad with competitive interest rates and zero prepayment or foreclosure charges!
| Feature | Details |
|---|---|
| Interest Rate (Floating) | 9.95%* p.a. onwards |
| Origination Fee | 1.25%* + GST |
| Prepayment & Foreclosure Charges | None |
How to Apply for an Education Loan for Law
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.
Expenses Covered Under Student Loans for Law Abroad
When you take an education loan for studying law 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 Credila
Repayment Options for Overseas Law Loan
Repayment for Law education loans is designed to be student-friendly and flexible:
- EMI-Based Repayment: Start paying 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.
Why Avail Credila’s Education Loan for Law Abroad
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.
*Section 80E exemption is subject to the old tax regime as per the Income Tax Act, 1961
#Under the old tax regime. Please consult your Chartered Accountant or Tax Advisor for information specific to you.
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