Loans for Indian Students
October 12th, 2012 by Jennifer Frankel

Indian students comprise a large segment of the US international student population and they, like so many of their peers, have been driven in recent years to seek out international student loans. As the cost of higher education in the US continues to rise – at an annual average of 6.2% over the last 20 years it easily outpaced the country’s 2.8% general inflation rate – more and more Indian students are turning to loans to finance their education.

Indian international student loans can help resolve the proof of funds dilemma and can also cover the gap in case additional finances are needed to help fund their education.

  • Proof of Funding

Many international students must prove that they have sufficient funds before they can be issued an F-1 visa. Demonstrating solvency is complicated by the fact that only a handful of forms of documentary evidence are accepted most universities.

A typical Indian student has three options: 1) provide evidence of sufficient personal wealth; 2) university funding [e.g., scholarships]; or 3) pursue a student loan. If option #3 is chosen, Indian students looking to secure a loan through an Indian bank may face an unusual wrinkle. American universities require a student to prove their solvency before they formally admit students and Indian banks typically do not authorize education loans until the student has formally been admitted. Hence a Catch-22 exists.

Fortunately, student loans for Indian students can easily resolve this dilemma. Such loans can be secured through a US lender where they will provide conditional loan approval that the student can provide to their US institution. While many US colleges and universities will accept this as a way to show proof of funding, be sure to check with your institution since there are schools who will not accept this as a valid way to prove sufficient funds.

  • Funding Gap

For Indian students who have already been issued their F-1 visa, there is a chance that students may find that their total costs exceed the total amount of money they have on hand. In cases like these, student loans are available to help cover the gap.

Whether students need a loan to cover a past or current semester, Indian students can easily apply for a loan that will cover up to the total cost of their education minus any other aid they may have received.

Indeed, rates for Indian international student loans, like loans for any other student, can be quoted – and secured – online from the comfort of your own home in a matter of weeks whether in India or in the US.

While such loans do require a US citizen or permanent resident with good credit, they can otherwise be secured with no collateral requirements and flexible repayment terms.

9 Comments

  1. Komal says:

    Can you please guide me with the procedure of applying for loan from India and just for the confirmation, is it really possible?? Would really appreciate your reply on this.

    Thank you.

  2. UJJAL MUKHERJEE says:

    Sir
    I beg most respectfully state that I am Mr. Ujjal Mukherjee citizen of India. I come from very poor family. My father is very poor farmer, He is a cancer patients, He has not any money to bearing our family maintaining cost because he is old person and no way his source of income. , my mother admited hospital he is pancreas patients, Sir if you provide help me money we are very poor, we have nothing, Sir, I would like to do something if you give me some money please please give me the benefit-Let me tell you that I will do all the work you agree to all the rules I sir, let us have a have a loan for my mother – parents can see a doctor , as well as I can do my study (BCA) , as well as the need to store the can I pay the money from the loan , you will help me or where I can get this loan at say one way plzz sir help me
    ujjalmukherjee2008@gmail.com

  3. UJJAL MUKHERJEE says:

    I beg most respectfully state that I am Mr. Ujjal Mukherjee citizen of India. I come from very poor family. My father is very poor farmer, He is a cancer patients, He has not any money to bearing our family maintaining cost because he is old person and no way his source of income. , my mother admited hospital he is pancreas patients, Sir if you provide help me money we are very poor, we have nothing, Sir, I would like to do something if you give me some money please please give me the benefit-Let me tell you that I will do all the work you agree to all the rules I sir, let us have a have a loan for my mother – parents can see a doctor , as well as I can do my study (BCA) , as well as the need to store the can I pay the money from the loan , you will help me or where I can get this loan at say one way plzz sir help me
    ujjalmukherjee2008@gmail.com

  4. tanisha garg says:

    nice blog..

  5. bandeep kaur says:

    I m an Indian student. is to possible to get admission in the good universities of US on the behalf of eduction loan? if yes then please guide me with the procedure of applying loan from india

    • Jennifer Frankel says:

      Hi Bandeep, thanks for your question. International student loans are typically available only after you’ve gained acceptance into a college or university. If you are evaluating your school options, I would recommend checking out InternationalStudent.com as they can help you compare and find a school that will meet your needs.

  6. NACHIAPPAN says:

    Dear Sir,

    WITH YOUR BLESSINGS !

    I am Nachi- Indian -Resident of India .My son N.AANAND studing B.D.S[ Batural of Dental Surgery] In India third year.

    I need fund for my son studies.In this connection i came to know about your organisation via internet.

    I am looking your help and support for my son studies.I need arround USD $30,000 LOAN for maximum years.

    I will send my son academic documents .You can go through it and verify with college after that only u can proceed further steps.

    I am looking your favourable feed back and advise for further

    Thanks

    Nachi

    India
    +91 93459 33264

    • Rachel Rollins says:

      Hi Nachiappan,

      Thanks for visiting! You can search, compare and apply for loans avaible for your son in the US here :http://www.internationalstudentloan.com/apply/ . Once you find a loan, the lender will provide you with more information on requirements and documentations you need to submit.

      Remember all international students must have a US co signer that has lived in the Us for atleast two years and has good credit. If you are unable to repay the loan, the co-signer would have to repay.

      Good Luck!

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