Education loan for an MBA in the USA
Flexible Repayment Options
Up to 100% Finance
Tax Benefits Under Section 129*
0% TCS** on Remittances AbroadFlexible Repayment Options*T&C Apply. Deduction under Section 129 of the Income Tax Act, 2025 (erstwhile Section 80E of the Income Tax Act, 1961) is available only under the old tax regime and shall not be applicable if the taxpayer opts for the new tax regime. Customers are advised to consult their tax advisors for applicability.
T&C Apply. Deduction under Section 129 of the Income Tax Act, 2025 (erstwhile Section 80E of the Income Tax Act, 1961) is available only under the old tax regime and shall not be applicable if the taxpayer opts for the new tax regime. Customers are advised to consult their tax advisors for applicability.
Pursuing an MBA in the USA is a dream for many students, and with the right financial support, it’s more achievable than ever. As the cost of studying in the USA continues to rise, choosing the right education loan to study in the USA becomes essential for planning your academic journey. The right funding can open doors to business schools, global career opportunities, and a life-changing international experience. Here’s everything you need to know to get started.
Business Schools Offering MBA Programmes in the USA
| University / School | Location |
|---|---|
| University of Pennsylvania (Wharton) | Philadelphia, PA |
| Northwestern University (Kellogg) | Evanston, IL |
| Stanford University | Stanford, CA |
| University of Chicago (Booth) | Chicago, IL |
| MIT (Sloan) | Cambridge, MA |
| Dartmouth College (Tuck) | Hanover, NH |
| Harvard University | Allston, MA |
| New York University (Stern) | New York, NY |
| Columbia University | New York, NY |
| Yale University | New Haven, CT |
| UC Berkeley (Haas) | Berkeley, CA |
| University of Virginia (Darden) | Charlottesville, VA |
| Duke University (Fuqua) | Durham, NC |
| University of Michigan (Ross) | Ann Arbor, MI |
| Cornell University (Johnson) | Ithaca, NY |
| University of Texas–Austin (McCombs) | Austin, TX |
| Emory University (Goizueta) | Atlanta, GA |
| Carnegie Mellon (Tepper) | Pittsburgh, PA |
| UCLA (Anderson) | Los Angeles, CA |
| Vanderbilt University (Owen) | Nashville, TN |
| Georgia Tech (Scheller) | Atlanta, GA |
| Indiana University (Kelley) | Bloomington, IN |
| University of Washington (Foster) | Seattle, WA |
| Georgetown University (McDonough) | Washington, DC |
| Ohio State University (Fisher) | Columbus, OH |
| University of Southern California (Marshall) | Los Angeles, CA |
| Washington University in St. Louis (Olin) | St. Louis, MO |
| University of North Carolina (Kenan-Flagler) | Chapel Hill, NC |
| Rice University (Jones) | Houston, TX |
| University of Georgia (Terry) | Athens, GA |
Cost of Studying an MBA in the USA
| Category | Expense Type | Cost (USD) | Cost (INR) |
|---|---|---|---|
| Tuition Fees | English Language Studies (Monthly) | $700 – $2,000 | ₹65,100 – ₹1,86,000 |
| Community Colleges (Yearly) | $6,000 – $20,000 | ₹5,58,000 – ₹18,60,000 | |
| Undergraduate (Bachelor’s) | $20,000 – $40,000 | ₹18,60,000 – ₹37,20,000 | |
| Graduate Programmes | $20,000 – $45,000 | ₹18,60,000 – ₹41,85,000 | |
| Doctoral Degree | $28,000 – $55,000 | ₹26,04,000 – ₹51,15,000 | |
| MBA (Average per year) | $35,000 | ₹32,55,000 | |
| Accommodation | On/Off-Campus Housing (Yearly) | $6,000 – $14,000 | ₹5,58,000 – ₹13,02,000 |
| Visa | Student Visa Fee | $160 | ₹14,880 |
| Living Expenses | Books & Stationery | $500 – $1,000 | ₹46,500 – ₹93,000 |
| Travel | $500 – $1,200 | ₹46,500 – ₹1,11,600 | |
| Food | $2,500 | ₹2,32,500 | |
| Clothes & Footwear | $500 | ₹46,500 | |
| Miscellaneous | $2,000 | ₹1,86,000 | |
| Total Living Cost | Annual Estimate | $10,000 – $25,000 | ₹9,30,000 – ₹23,25,000 |
Source: https://www.idp.com/india/study-in-usa/cost-of-study/
Disclaimer: All USD to INR conversions are based on currency rates as of April 2026. Exchange rates vary over time, so check the latest rates before making any financial decisions.
Note: These figures are approximate; actual living costs may vary based on your lifestyle, spending habits, and the city you choose to live in.
Check Your Loan Eligibility for
an MBA in the USA
Types of Education Loans for MBA 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 MBA 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) – 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 Studying MBA 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) | 9.95%* p.a. onwards |
| Origination Fee | 1.25%* + GST |
| Prepayment & Foreclosure Charges | None |
How to Apply for an Education Loan to Study MBA in the USA
Follow this 3-step process
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 MBA in the USA
When you take an education loan for studying MBA 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 MBA Loan for Students
Repayment for MBA 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.
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.
Disclaimer: Deduction under Section 129 of the Income Tax Act, 2025 (erstwhile Section 80E of the Income Tax Act, 1961) is available only under the old tax regime and shall not be applicable if the taxpayer opts for the new tax regime. Customers are advised to consult their tax advisors for applicability.
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