GoStudy Education Loan partnered with Avanse Financial Services

GoStudy is one of the most trusted education loan providers in India. With Avanse we provide loans with low-interest rates.

Avanse Education Loan for abroad studies through GoStudy is available to you through a simple and easy process. With the help of GoStudy, you can avail of 100% funding for your overseas education through Avanse Financial Services either as a secured or unsecured education loan. At GoStudy, we have a strategic partnership with Avanse Financial Services to provide education loans up to 75 lakhs without any security. The best thing is that you can get our GoStudy Loan Experts online without visiting our office or bank.


9

Reasons to Opt for an Avanse Education Loan through GoStudy!

1

KYC Based Education Loan without income!

Get an education loan through GoStudy’s exclusive partnership with Avanse based on your KYC (Aadhaar and PAN).

2

Lowest Interest Rates In The Market

GoStudy offers the best interest rates in the market, which are as low as 0.5% to 1% from other lenders.

3

Comprehensive Loan Schemes

GoStudy brings you a comprehensive list of Avanse education loans without collateral so you can save substantial money and pursue your abroad career dreams worry-free.

4

Unsecured Education Loan!

GoStudy provides you with an unsecured loan to study in all the universities worldwide, with no need to pledge any of your property!

5

Hassle Free Loan Process!

By passing all unnecessary troubles, long queues & paperwork, GoStudy provides you with the best of services at your doorstep & a sanction within just 5-7 working days!

6

Blazing Loan Processing Time

Being an education partner offering financial aid from reputed financial lenders, GoStudy has the ability to process 1000s of loans every month and has dedicated teams working on that to offer a supersonic loan processing speed.

7

Highly Proficient & Expert Team

Our expert teams are not just experienced, but they are equally proficient in selecting the best plans for you through consultation starting from the loan application process until the sanction and disbursement of the funds.

8

CIBIL Score as low as 650 accepted!

Even if you have a CIBIL score as low as 650, you are still eligible for an Avanse education loan when processing with GoStudy.

9

Over 3,000+ Institutions Worldwide!

GoStudy has personally curated a list of universities worldwide across 50+ countries that accept Avanse Education Loans!


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Avanse Overseas Education Loan For Abroad Studies through GoStudy

The world is more connected today than anytime before in world history. This sort of connectivity also opened doors to immense inclusivity among different countries, creating an environment of dynamic growth & learning. One such opportunity is to be able to pursue our higher education in the country of our desire. However, when faced with the possibility of pursuing our education abroad, the first thing that comes to most of our minds is the expenses that we shall incur towards it. That is where an Avanse overseas education loan through GoStudy comes to the rescue. The expenses are diverse which an Avanse education loan for abroad studies through GoStudy shall cover with ease. Tuition fee, cost of accommodation, travel, food, shopping, leisure etc. are part of every aspirant’s kitty of expenses and our Avanse education loan for study abroad through GoStudy will ensure that our financial needs are met. Furthermore, academic expenses include your electronic gadgets & books and specifically curated Avanse international education loan through GoStudy provide us with this amazing opportunity.

It is also important to note that the financial ability of every aspirant has to be proven before we even apply for a student visa to the respective country of choice. Therefore, applying for an Avanse education loan for foreign studies through GoStudy will be one of the most pivotal markers to ensure a successful student visa application.

When you opt for an Avanse education loan through GoStudy, it is nothing more than a cakewalk, where you can have an online consultation or schedule a meeting with a consultant face-to-face where they ensure all your doubts are clarified, leaving you feeling elated and secure. We at GoStudy are not merely education loan providers but your financial partners, ensuring you make the best financial decision for your life, for your education and even beyond!

Avanse Education Loan For Abroad Studies
Avanse Education Loan For Abroad Studies

GoStudy’s Interest Rate in Avanse for Abroad Education

For every loan that is approved, interest rates are a general norm that is levied by the lenders. Interest Rates Of Education Loan At Avanse through GoStudy For Abroad Studies starts at 10.25%. Based on the overall credit scores of the borrower as well as the university the student is planning to go to, the spread of the interest rate changes. The calculations are done on basic simple interest methodologies. Here, when the borrower has collateral, the interest rates might be lower than the interest rate for Avanse education loan through GoStudy without collateral. Anyhow, the Interest Rate For Avanse Foreign Education Loan through GoStudy is quite flexible & periodically changes based on your overall credit and course profiling. They use a simple interest rate with monthly rest to calculate the interest rate for education loans.

Type of Education Loan

Avanse Education Loan Rate of Interest As Per Market

Avanse Education Loan Rate of Interest Through GoStudy

Secured Education Loan (USA) 10 % *9.75%
Unsecured Education Loan (USA) 10.50 % 10.00%
Secured Education Loan (Others) 11.00 % 10.75%
Unsecured Education Loan (Others) 11.75% 11.25%

Furthermore, the following mathematical formula is used to calculate the EMI based on the GoStudy’s Interest Rate in Avanse For Abroad Education:

EMI = [Principal Amount x Rate of Interest x (1 + Rate of Interest) Tenure*] / [(1 + Rate of Interest ) Tenure* - 1]

*Please note that the tenure is calculated in months.

What Are The Costs Covered by Avanse Education Loan through GoStudy?

Avanse Education Loan through GoStudy covers 100% of the education expenses that you shall incur. Right from the tuition fee, accommodation, food, travel & lifestyle expenses; tha have you covered holistically to ensure all the needs are met. The below list shows a few countries for which Avanse Education Loans cover the entire expenses (Tuition Fee + Living Cost) for overseas education through GoStudy

  • USA
  • Canada
  • Ireland
  • UK
  • France
  • Germany
  • Singapore
  • Australia
  • New Zealand
  • Austria
  • Belgium
  • Hungary
  • Italy
  • Poland
  • Spain
  • Switzerland
  • Denmark
  • Finland
  • Netherlands
  • Norway
  • Sweden

The minimum sanction amount starts at a nominal 1L to whatever is the requirement for your education. No specific upper limit is set & Avanse offers flexible education loan options as the requirements differ from person to person. The process is fully transparent & hassle-free with their representatives available to make sure every need is taken care of to the utmost satisfaction of the customers.

Also, as 100% funding is provided, there is no margin amount that is needed to be paid toward the education loan. The entire funding is taken care of by GoStudy.

Following are the lists of the Costs Covered by Avanse Education Loan through GoStudy:

Things covered under Avanse Education Loan through GoStudy

Costs Covered by Avanse Education Loan through GoStudy

Tuition Fees 0 - 65 Lakhs (Approx)
Living Cost 6 Lakhs - 15 Lakhs (Approx)
Travel Expenses 20,000 - 40,000 Rupees (Approx)
Others (Books/Uniforms/Computers) 80,000 - 1,50,000 Rupees (Approx)

Avanse Education Loan through GoStudy Without Collateral

There are two types of loans that are sanctioned. One is an Avanse education loan through GoStudy with collateral security & the other one is without a collateral. In case you have received an admission in any of the top universities worldwide and do not wish to showcase your property, you can get an unsecured loan up-to 1 Cr through an Avanse education loan through GoStudy without collateral. Based on the gross annual income of the borrower & the corresponding applicants and also after a holistic analysis of the financial and academic profile, the Avanse can grant unsecured education loans for their students. It is therefore based on the university as well as the creditworthiness of the borrower, thus providing a lot of flexibility & ease of access for aspirants willing to study abroad. The higher the credit scores, the better the chances of acquiring an Avanse education loan through GoStudy without collateral.

To process an education loan with Avanse through GoStudy without collateral, the below is the list of documents that are required:

  • Unconditional/Firm/Confirmed Offer Letter
  • Co-Applicant’s Income Proof
  • PAN Card
  • Academic Documents
  • Other Relevant Academic Scores - GRE/GMAT
  • IELTS/TOEFL/PTE/English Language Scorecard
  • Valid Passport

In case of students willing to study masters in the USA, you can get a Pre Approved Loan from Avanse through GoStudy even before you apply for a course of your choice.

Collateral For Education Loan in Avanse through GoStudy

Collateral is any form of asset that is accepted by the lender as a form of security for the loan amount that is supposed to be sanctioned. In case your financial profile is a little weak or the education institution you are opting for is not part of the approved list for providing an unsecured loan, you can opt for a secured education loan in Avanse through GoStudy. The biggest advantage when providing a collateral for an education loan in Avanse through GoStudy is the lower interest rates.

The accepted types of collateral for education loan in Avanse through GoStudy is as follows:

  • House/Flat/Apartment - Any kind of residential property that is not on a standing loan.
  • Fixed Deposit by a registered NBFC or a nationalized bank, with a letter of affirmation from the end of the manager of the institution assigning it in the favor of Avanse.
  • Surrender Value of Life Insurance Policies which equates to the required security coverage.
  • Land which is non-agricultural in nature.

With that being said, having a collateral to pledge is indeed beneficial to the sanction of an education loan. It boosts our chances of acquiring a loan & we can even get a lesser rate of interest.


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Universities accepting Avanse Education Loan through GoStudy

Being one of the biggest names in the Education Loan Industry, GoStudy has an extensive coverage of the biggest and the best universities globally. The comprehensive list of institutions abroad accepting Avanse Education Loan through GoStudy is what makes them one of the most favored financial institutions in the country, spanning over 50+ countries and serving over 2,50,000+ students over these years!

Below is the List of top 50 abroad Universities accepted by Avanse Education Loan through GoStudy

List of Universities accepted by Avanse Education Loan through GoStudy

GoStudy’s Pre-approved Education Loan Amount By Avanse

University of Texas Austin 75 Lakhs
Ohio State University 65 Lakhs
Arizona State University 65 Lakhs
Illinois Institute of Technology 65 Lakhs

Co-Applicant For Education Loan In Avanse through GoStudy

Unless the aspirant is financially very well off with assets & wealth amounting to huge numbers, it is a general scenario that every applicant has a co-applicant for education loan in Avanse through GoStudy. As an education loan is a huge sum & a very big responsibility, a co-applicant, with a secured financial profile, can significantly boost the chances of being granted an education loan. It simply acts as a means of additional security for the lending institution where in case there is an inability to repay the loan from the end of the applicant under unforeseen circumstances.

Below is the list of co-applicants for education loan in Avanse through GoStudy that are accepted:

  • Parents
  • Parents-in-law
  • Spouse
  • Siblings
  • Maternal Uncles & Aunts
  • Paternal Uncles & Aunts

Eligibility Criteria For Avanse Education Loan through GoStudy

Requirements for Avanse education loan through GoStudy are simple & easy to understand for even people with not much awareness about the education loan sector. To begin with, the eligibility criteria for an Avanse education loan through GoStudy is based on the reception of an unconditional/firm/confirmed offer of admission from the desired university of choice. This means that the offer that is provided from the university cannot be revoked and that he/she has fulfilled all the entry requirements to be a student at that institution. Furthermore, there are few more Avanse education loan requirements through GoStudy that are as follows:

  • Indian Citizens who are at least 18 years of age.
  • Has a co-applicant or a co-borrower who is working anywhere in the world or self employed in India who must be either one of a Parent, Parent-in-law, Spouse, Own Siblings, Maternal & Paternal Uncles and Aunts.
  • Co-Applicants need to have fulfilled the minimum CIBIL score for education loan in Avanse through GoStudy which typically tends to be upwards of 650. However, this is subjected to the discretion of the provider.

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Documents Required for Avanse Education Loan through GoStudy

Education loans are one of the easiest ways to harness your dreams of studying abroad. With that being said, there are several documents that are required.to support your education loan. The following is a basic checklist of documents required for education loan in Avanse through GoStudy:

  • KYC of Student
  • Educational Documents of the student
  • Course Details & Fee Structure of the University of choice
  • Unconditional/Firm/Confirmed Offer Letter
  • Co-Applicant’s KYC
  • Co-Applicant’s Proof of Income
  • Income Tax Returns of Student - 3 Years (If Applicable)
  • Income Tax Returns of Co-Applicant - 3 Years
  • Proof of Birth Documents
  • Proof of Relationship with Co-Applicant
  • Bank Statement for Months of Co-Applicant
  • Collateral Documents

There might be additional documentation that is required apart from the ones mentioned above which varies based on the case of each student.

Process & Procedures For Avanse Education Loan with GoStudy

Avanse, a GoStudy partner, is one of the biggest financial institutions in the country offering education loans to lakhs of students to complete their education. The application process for education loan in Avanse with GoStudy starts with the student approaching the financial partners at Avanse who need to be specifically told about the quantum of financial assistance that is required for the education, the details & the course of the institution of choice & the complete identity of the co-applicant.

Once Avanse has cleared you in the first round of verification checks, they shall issue a formal loan letter that will enlist all the elaborate documentation that is required to process the education loan.

Secondly, the processing fee for Avanse Education Loan through GoStudy is a nominal 1-2% of the entire loan amount as their processing fee. However, there is a case-to-case consideration, evaluated on the basis of several parameters & thus the final processing fee is at the discretion of Avanse.

Third, GoStudy education loan processing time is 5-7 days from the date of submission of all the requisite documents. Once the education loan agreement is reviewed and signed, the loan amount will be disbursed at the earliest through a DD, Cheque or an Electronic Transfer.

Avanse Education Loan through GoStudy Sanction & Disbursement

A sanction letter for Avanse education loan through GoStudy is a document that affirms that the loan is approved and has all the required details like the name of the course, the university details, the total amount of loan that is sanctioned for education, name of the applicant, name of the co applicant, name of the guarantor (if applicable), interest rate, repayment tenure, moratorium period and other details. The letter has to be a full sanction letter and not an in principle sanction letter or an approval in principle sanction letter. The latter is not accepted by universities as an evidence of sanction of education loan as there are pending conditions that have not been met yet.

Once the sanction is done, the loan is ready to be disbursed or released as per the requirements. The sum that is to be disbursed will be in Indian National Rupee (INR). Typically, the tuition fee is disbursed directly to the university of study or as per the agreement clause between the borrower & GoStudy. The other expenses that the student shall incur, which is part of the sanction amount, will either be disbursed into the account of the student or to the co-applicant’s bank account. The disbursement can be full or in parts depending on the requirement of the borrower, which is again at the discretion of both the parties. You will also be provided with a disbursement letter for an Avanse education loan through GoStudy.

Moratorium Period For Avanse Education Loan through GoStudy

Every Avanse Education Loan through GoStudy repayment comes with a moratorium period. It is obvious that the student will not be able to immediately start the EMI repayment upon disbursement of the loan. During the moratorium period, you need to pay a partial simple interest repayment that starts at a highly competitive rate of just INR 2,000, which is the lowest in the market, made possible only through GoStudy. Thereby, specifically enquire about the moratorium period clearly and understand the specifics before proceeding.

Avanse Education Loan Repayment through GoStudy

As per Avanse education loan repayment terms with GoStudy, you can choose a tenure that is suitable to you as long as it falls within their category of limits ranging from 12 months to 180 months. During this tenure, there are different kinds of repayment options. In most cases, you can choose your repayment option by yourself. Only in direct cases where the financials are weak, GoStudy will choose the best option for you.

The different types of repayment options for Avanse Education Loan through GoStudy

  • Partial Simple Interest
  • Simple Interest
  • EMI
  • Full Moratorium period is not offered by Avanse

Avanse Education Loan through GoStudy EMI Exemption under Section 80E of IT Act

According to Section 80E of the IT Act, you can claim a deduction on the overall EMI to be paid for the financial year if you are going on a student loan. The eligible personnels who can claim this benefit include self, spouse, children or the individual’s legal guardian who has partaken responsibility in the education loan. The deduction is applicable to all the courses for which the education loan is granted for your education abroad.

There is no specific cap on how much of a tax benefit can be claimed. However, the period of interest is up to 8 years from the date of repayment of loan or up to the period of interest repayment, whichever is earlier. Therefore, it is advised that the repayment is done within this tenure to ensure that you are able to claim all the benefits.


DOWNLOAD Simple & detailed comparison sheet of all Education Loan offered by all government & private banks and NBFC’s to study abroad.

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