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Getting an Education Loan for Study Abroad in 2023

"Studying abroad is a dream for many Indian students today. In fact, recently, the Ministry of Finance revealed a rise in the number of students availing loans for overseas education. A report based on the data shared by Public Sector Banks (PSBs) said that over 4.60 lakh people availed an education loan for study abroad in the past decade.

For students, the idea of studying abroad comes with the promise of exploring new opportunities. It offers them hope for a safe future through better education. However, due to a comparatively higher cost of education outside India, studying abroad feels like a distant dream for students from low-income families.

The facility of education loan enables students to afford foreign education and brighten their career prospects. This article covers every detail about student loans for studying abroad. Everything from types of student loans to eligibility criteria to the application process will be discussed. You can also learn about education loan schemes by the government and loan repayment methods."