Public and private banks and other financial institutions have stepped in to provide Education Loans to students from all walks of life who want to pursue their dream of pursuing a master’s degree abroad.

NBFCs, on the other hand, have established stringent eligibility requirements, which students must meet to qualify for an Education Loan. The first and most crucial factor in evaluating your eligibility for the loan.

Below are the general eligibility criteria on education loans for master’s degrees that banks follow:

• The applicant must be an Indian citizen with a solid academic record.

• The applicant must be interested in enrolling in a professional or technical program. Banks like to lend money to people taking courses that will help them get a job.

• The applicant must be accepted to an overseas university.

• If the applicant is under 18, their parents must take the loan in their name.

• The course must be either technical or professional, as banks give preference to job-oriented courses.