Education Loan to Study Master's in the UK
*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.
Dreaming of a master’s degree in the UK but unsure how to manage the costs? An education loan can bridge the gap between your ambition and your finances, covering tuition fees, living expenses, and other essential costs. With flexible repayment plans and competitive interest rates, education loans abroad make it more accessible, allowing you to focus on your studies and future career. It’s a smart step towards achieving your academic and professional goals without financial stress.
Why Pursue a Master’s in the UK?
The UK combines world-class education with a rich academic heritage, offering globally recognised universities such as the University of Oxford, University of Cambridge, Imperial College London, and University College London (UCL). In 2024, 90% of postgraduates were employed, compared to 87.6% of graduates and just 68% of non-graduates. Postgraduates are also more likely to hold high-skilled jobs, with 79% of them working in such roles. Additionally, median earnings favour postgraduates, with those holding a master’s degree earning around £47,000 compared to £42,000 for graduates in 2024. UK universities also produced 405,280 postgraduate taught qualifications in 2022–23, with 56% conferred to international students, highlighting the country’s popularity and global appeal.
Types of Master’s Degrees in the UK
| Type of Master’s | Description | Examples |
|---|---|---|
| Taught Master’s | Delivered through lectures, seminars, and coursework, usually including a dissertation or major project. | MSc, MA, MEng, MBA |
| Research Master’s | Focused on independent research under academic supervision, often a pathway to a PhD. | MRes, MPhil |
List of Master’s Courses for Indian Students in the UK
- MSc in Management
- Master’s in Public Health
- MSc in Computer Science
- Master’s in Psychology
- MSc in Marketing
- MSc in Physiotherapy
- MSc in Nursing
- MSc in Biotechnology
- MSc in International Business
- Master’s in Architecture
Universities for Master’s in the UK
| University | Average Tuition Fees/Year (£) | Average Tuition Fees/Year (₹) | Highlights & Notes |
|---|---|---|---|
| Oxford University | £24,450 – £29,160 | ₹28,85,100 – ₹34,41,000 | Renowned for world-class research and teaching; offers globally recognised one-year master’s programmes. |
| University of Cambridge | £22,657 – £39,406 | ₹26,73,526 – ₹46,50,000 | Leading research-focused institution with extensive postgraduate network and innovation-driven teaching. |
| Imperial College London | £22,668 – £40,386 | ₹26,75,000 – ₹47,65,000 | Specialises in science, engineering, medicine, and business with strong industry partnerships. |
| University College London (UCL) | £11,570 – £25,000 | ₹13,65,000 – ₹29,50,000 | Known for research-led teaching across multiple disciplines and a highly diverse global student community. |
| University of Edinburgh | £22,000 – £34,000 | ₹25,96,000 – ₹40,12,000 | Historic university with a strong reputation for innovation and interdisciplinary research. |
| University of Manchester | £19,000 – £46,000 | ₹22,42,000 – ₹54,28,000 | Russell Group member with strong links to global industries and research hubs. |
| King’s College London | £23,000 – £40,407 | ₹27,14,000 – ₹47,68,000 | Offers a wide range of programmes in health sciences, law, humanities, and social sciences. |
| London School of Economics (LSE) | £18,000 – £23,088 | ₹21,24,000 – ₹27,25,000 | Globally renowned for economics, politics, and social sciences. |
| University of Warwick | £18,790 – £43,950 | ₹22,16,000 – ₹51,86,000 | Recognised for business, engineering, and social sciences with a strong research focus. |
| University of Bristol | £21,000 – £28,000 | ₹24,78,000 – ₹33,04,000 | Known for cutting-edge research and interdisciplinary opportunities. |
Exchange Rate Used: ₹118/£1 (as of September 2025). Actual costs may vary with live exchange rates.
Source: https://www.idp.com/india/study-in-uk/masters/
Note: The above information about the respective universities has been sourced from their official websites and Wikipedia as of September 2025.
Cost of Studying a Master’s Program in the UK
| Category | Sub-category | Average Cost (₹) | Average Cost (₹) |
|---|---|---|---|
| Tuition Fees (Indicative Annual Range) | Arts & Humanities | £9,000 – £14,000 | ₹10,62,000 – ₹16,52,000 |
| Science & Engineering (MSc) | £9,500 – £22,000 | ₹11,21,000 – ₹25,96,000 | |
| Clinical (MRes/MPhil) | £12,000 – £33,000 | ₹14,16,000 – ₹38,94,000 | |
| Living Expenses (Monthly Estimate) | Accommodation | £400 – £1,500 | ₹47,200 – ₹1,77,000 |
| Utilities | £100 – £150 | ₹11,800 – ₹17,700 | |
| Food | £150 – £250 | ₹17,700 – ₹29,500 | |
| Transportation | £50 – £100 | ₹5,900 – ₹11,800 | |
| Personal Expenses | £100 – £200 | ₹11,800 – ₹23,600 |
Exchange Rate Used: ₹118/£1 (as of September 2025). Actual rates may vary.
Source: https://www.idp.com/india/study-in-uk/masters/
Career Opportunities After a Master’s in the UK
| MS Specialisation | Job Roles | Average Salary (GBP) | Average Salary (INR) | Key Responsibilities |
|---|---|---|---|---|
| Engineering | Mechanical, Civil, Chemical, Electrical Engineer | £37,909 | ₹44,75,462 | Design, analyse, and optimise infrastructure and technical systems. |
| Computer Science | Software Engineer, Cybersecurity Analyst, Data Analyst | £40,000 | ₹47,20,000 | Develop software solutions, secure systems, and analyse data. |
| Business & Management | Business Analyst, Management Consultant | £45,000 | ₹53,10,000 | Drive strategic decisions, improve processes, and manage projects. |
| Biological Sciences | Biotechnologist, Microbiologist, Pharmacologist | £37,000 | ₹43,66,000 | Conduct research, analyse biological data, and support biotech projects. |
| Economics | Economist, Financial/Policy Analyst | £47,000 | ₹55,46,000 | Analyse economic data, model trends, and advise on policy and strategies. |
Source: https://www.siecindia.com/blogs/highest-paying-ms-specialisation-in-the-uk
Types of Education Loans for Masters 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 serves 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 UK
To qualify for a student loan in the UK, here are the general 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 UK
Documents Required for an Education Loan for Masters Oversees
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 Masters 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 to Study Masters Abroad
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 Masters Abroad
When you take an education loan for studying Masters 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 Masters Loan for Student
Repayment for MS 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 Masters 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.
