Rahul always dreamed of studying in the UK. Watching videos of students exploring new cultures, walking into world-class libraries, and working on advanced projects made him imagine himself in that life. But every time he saw the fee structure, his excitement dropped. Tuition fees of ₹25–30 lakhs, living costs, travel, and other expenses made it feel impossible.
That’s when Rahul heard about education loans for abroad studies. At first, he was doubtful Will I get such a big loan? Will my parents be burdened? How will I repay? But after researching, he realized education loans are actually designed to support students like him.
Why Education Loans Are a Game-Changer
They cover almost everything from tuition fees to accommodation and even books.
Repayment usually starts after completing the course, so there’s breathing space.
Parents don’t have to empty their savings; instead, the student funds their own future.
On top of that, there’s a tax benefit on the interest paid under Section 80E.
Rahul’s father, a bank employee, suggested checking with SBI’s Global Ed-Vantage Loan. It offered up to ₹1.5 Cr with a moratorium period covering his course plus one year. Rahul also looked at HDFC Credila, where he could even include his living expenses in the loan. Options from Axis Bank, ICICI Bank, and PNB Udaan gave him more confidence; there was no shortage of support if he was determined.
What Helped Rahul Get His Loan Approved
Rahul made sure:
The Takeaway
He applied as soon as he got his admission letter.
- All documents, mark sheets, admission letter, and income proof were ready.
- His father, the co-applicant, had a strong financial profile.
- He compared interest rates before finalizing the bank.
Within a few weeks, his loan was sanctioned. Rahul could finally focus on preparing for his big move instead of worrying about money.
