Who it suits
- Undergraduate and postgraduate courses
- Professional and technical programmes
- Overseas university admissions
- Skill and certification courses
Fund tuition and living costs for studies in India or abroad.
An education loan covers tuition, hostel, books, and related costs. Many lenders allow a repayment holiday during the course and for a period afterwards.
- Covers tuition, hostel, books, and equipment
- Moratorium during the course plus a grace period
- Options for studies in India and abroad
- Co-applicant is usually a parent or guardian
Education loan EMI estimate
Estimated EMI₹7,523
at 10.5% p.a. · 60 monthsPlanning estimate only. Excludes fees. Actual rates and eligibility depend on the lender.
Eligibility factors
- Admission to a recognised institution
- A co-applicant with a stable income
- Satisfactory academic record
- Collateral for higher loan amounts
Documents you may need
- Admission letter and fee structure
- Student and co-applicant KYC
- Co-applicant income proof
- Academic mark sheets
Smart tips
- Understand how interest accrues during the moratorium.
- Paying interest while studying can reduce the total cost.
- Ask about subsidy or scheme eligibility before applying.
Education loan FAQs
When do repayments begin?
Typically after the course ends plus a grace period, depending on the lender's terms.
Is a co-applicant mandatory?
Most lenders require one, since students usually have no independent income.
Other loan types
GoForLoans.com is an informational planning site, not a lender. Figures shown are illustrative.