Education Loan for Studying MS Abroad
Loans designed for MS aspirants to study abroad, offering flexible funding and repayment options.
*T&C Apply. Subject to restrictions under the Income Tax Act,
1961 and Budget 2025.
A Master of Science (MS) degree abroad equips students with in-depth expertise, access to advanced research, and exposure to international learning environments. While these opportunities shape careers globally, the expenses involved, tuition, living costs, and travel; can feel overwhelming. Education loans provide structured financial support, helping students manage costs without compromising their academic ambitions.
Cost of Studying MS Abroad
| Country | Average Tuition Fees (per year) | Tuition in INR | Average Living Costs (per month) | Living Costs in INR | Type of Universities |
|---|---|---|---|---|---|
| USA | $30,000 – $120,000 | ₹24,00,000 – ₹96,00,000 | $1,200 – $2,500 | ₹96,000 – ₹2,00,000 | Harvard, Stanford, MIT, UCLA |
| UK | GBP 15,330 – 55,000 | ₹16,10,000 – ₹57,70,000 | GBP 800 – 1,500 | ₹84,000 – ₹1,57,000 | Oxford, Cambridge, LBS, Imperial College London |
| Italy | EUR 0 – 2,000 | ₹0 – ₹1,80,000 | EUR 600 – 1,500 | ₹54,000 – ₹1,35,000 | Vita-Salute San Raffaele, Università Cattolica del Sacro Cuore |
| Spain | EUR 300 – 3,500 | ₹27,000 – ₹3,15,000 | EUR 600 – 1,000 | ₹54,000 – ₹90,000 | BEBS, Universitat Oberta de Catalunya, EIT Digital |
| Germany | EUR 0 (public) + 100–350 admin | ₹0 – ₹31,500 | EUR 800 – 1,100 | ₹72,000 – ₹99,000 | IU International, University of Hamburg, University of Cologne |
| France | EUR 170 – 650 | ₹15,300 – ₹58,500 | EUR 700 – 950 | ₹63,000 – ₹85,500 | Télécom Paris, University of Côte d'Azur, Uni Eiffel |
| Lithuania | EUR 1,150 – 5,000 | ₹1,03,500 – ₹4,50,000 | EUR 200 – 380 (up to 850 in Vilnius) | ₹18,000 – ₹34,200 (up to ₹76,500) | Kaunas University of Technology, Vilnius Tech, Mykolas Romeris University |
| Hungary | EUR 1,000 – 8,000 | ₹90,000 – ₹7,20,000 | EUR 350 – 550 | ₹31,500 – ₹49,500 | University of Pécs, University of Szeged, Corvinus University of Budapest |
| Portugal | EUR 500 – 1,500 | ₹45,000 – ₹1,35,000 | EUR 500 – 750 | ₹45,000 – ₹67,500 | NOVA IMS, ISCTE Business School, ISEG Lisbon |
Source: https://www.idp.com/blog/ms-in-usa-cost/, https://collegedunia.com/uk/article/masters-in-uk, https://www.mastersportal.com/articles/1834/affordable-eu-countries-to-study-a-masters-abroad.html
Types of Education Loans for MS Students 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 Loans for Studying MS Abroad
Studying MS abroad is now easier with flexible student loan options that are specially curated 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 must be at least 16 years old at disbursement.
- Who Can Get a Loan? Students enrolled or planning to enrol in an MS programme.
- Courses Covered: Full-time MS programmes by recognised universities.
Documents Required for an Education Loan for MS Overseas
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 Abroad
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 an MS
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 Loan for MS Abroad
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.
Applying to MS courses in the USA? Check out the cost to study MS in USA for different MS courses, scholarships, affordable states, and salaries.
Why Avail Credila’s Education Loan for MS 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.
*This is subject to restrictions imposed under the Income Tax Act, 1961 and Budget 2025.
#Under the old tax regime. Please consult your Chartered Accountant or Tax Advisor for information specific to you.
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 - www.credila.com.
