Education Loan For Bachelors in France Through GoStudy

Make your study abroad dream come true with an education loan for a Bachelor's in France through GoStudy, India’s paramount education loan provider.

France is not often mentioned as a top destination abroad for international students. However, it has some of the most prestigious universities in the world, including INSEAD and Ecole Normale Superieure. It is not surprising that students are moving to France for a jubilant career. Education loan for Bachelors in France through GoStudy, is less expensive and offers tremendous employment.


9

Factors That Get You France Education Loan Without Collateral Through GoStudy

1

Flexible Tenure & Loan Enhancement Facility!

Get a repayment tenure of up to five times the length of your loan when you request a France education loan through GoStudy.

2

Attractive Interest Rate!

With a France education loan, you have access to the most affordable interest rates. This is typically 1% -2% less than market rates!

3

The Repayment Option is Flexible!

Certain types of repayment plans allow the borrower to make lower installments over a long period.

4

Quick Online Application Procedure!

Easy-to-implement and best practices to help decrease the fatigue of applicants and make sure that the application process is simple and easy to complete.

5

Tax Benefit: Under 80(E)!

You are entitled to the deduction of interest on loans used to pursue higher education from your taxable *income under Section 80E of the IT Act*.

6

No Hidden Charges & No Margin Money!

France education loan through GoStudy can pay for up to 100% of the cost. At the end of the day, you will not have to cover all the costs of your study abroad!

7

Requires Minimal Documentation!

There is no need for paperwork to obtain a loan against property for loan education. Your GoStudy consultants are there to help you out.

8

Higher Sanction Amounts!

Finance your education at the school or college with an amount that is high in comparison to the value of your home.

9

Collateral Free Loans!

With GoStudy, get the chance to avail collateral free loans for your education in France!


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Education Loan for Bachelors in France through GoStudy

Students are increasingly choosing to study abroad & prominently one of the most popular desires is to study in France for their higher education. France has been a popular destination for students studying abroad in recent years. It is a great place to study several specialization degrees and language studies. Students looking for English-taught universities in France have many options when it comes to higher education. Education Loan for Bachelors in France through GoStudy for Indian students doesn't require candidates to pledge collateral.

The main lenders of unsecured education loans through GoStudy are NBFCs (Non-Banking Finance Companies), private banks, and NBFCs. Students who don't have collateral security or any assets can borrow these loans. To get approved for an unsecured educational loan, candidates must meet certain conditions set by private lenders. The reason for this is the absence of collateral security for unsecured education loans.

The eligibility requirements set forth by NBFCs for unsecured loans are stricter than those established by public banks for secured loans. A non-collateral education loan is tougher to obtain if you are studying in France. But no worries, GoStudy is your one stop shop solution for all of your woes! For students who want to study master's degree in France, an unsecured education loan can be obtained up to Rs 40 lakhs from a well-known education loan in India for Bachelors in France through GoStudy.

Education Loan Bachelors in France
Education Loan Bachelors in France

Interest Rate For Education Loan To Study in the France without collateral through GoStudy

Every financial institution that offers you money comes with the option of paying interest. Interest rates are paid to the institution in exchange for their financial distribution for an education loan to France without collateral through GoStudy which are created to help you meet your educational & other needs. The bank decides on the type of interest rate applicable to student loans based on their credit score. Certain banks offer loans that have fixed rates of interest that are set for the length of the repayment. Other banks have rates of interest that are tied to the Loan Rate that is based on the 1-year marginal cost funds determined by the lending rate (MCLR). The interest rate for the student loan can be adjusted if the MCLR is changed every few months.

The Interest Rate for Non-Collateral Education Loans in France through GoStudy is very flexible and often changes in accordance with your credit rating and course profile. They apply a basic interest rate, with a rest period of months, to determine the interest rate for education loans.

Below are the interest rates that are available for loans for education in France without collateral through GoStudy:

Type of Education Loan

Education Loan Rate of Interest As Per Market

Education Loan Rate of Interest Through GoStudy

Secured Education Loan (USA) 9.5% 9.25%
Unsecured Education Loan (USA) 10.25% 10.00%
Secured Education Loan (Others) 9.5% 9.5%
Unsecured Education Loan (Others) 11.75% 11.50%

In addition, the formula is utilized to calculate the EMI calculated based on the interest rate of an Education Loan for the France without collateral through GoStudy:

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

Please be aware that the tenure calculation is in months.

What are the costs that are covered in an education loan without collateral in France Through GoStudy?

France's Tuition Fees are lower than other European countries. France is not known for its high living costs and expensive accommodation. There are scholarships available to help you pay tuition and other living expenses also alongside an education loan for Bachelors in France through GoStudy for Indian students. Not everyone is eligible for a grant or scholarship. The process of applying for a loan to study in France is the most effective way to pay for your expenses. Below is the list of the cost covered in an Education Loan Without Collateral for the France through GoStudy:

  • Fees Payable
  • Accommodation/Hostel Charges
  • Fees for Laboratory, Library, and Exam Fees
  • Expenses like books, equipment like computers, traveling expenses abroad, uniforms
  • Caution deposit/ building fund/ refundable deposit
  • Additional expenses such as project work, study tours, and thesis writing are also required

Around 17,000 students apply each year to French universities. About 10% of the country's college students are Indian students (and growing every year). France has a high-quality higher education. This is due to the experienced faculty and numerous research opportunities. France is well-known for its Arts programs. French universities now offer majors in all subjects and many electives, regardless of which program you choose.

Below is a list containing all the France financial institutions that offer education loans without collateral:

  • Incred
  • IDFC First Bank
  • ICICI Bank
  • HDFC Credila
  • Axis Bank
  • Avanse
  • Auxilo

Following are the lists of the Costs Covered by Education Loan For Bachelors in France through GoStudy:

Things covered under Education Loan through GoStudy

Costs Covered by 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)

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Collateral For Education Loan In France

France's Universities are among the most well-known in the world. According to various organizations, 35 Universities located in France count among the top universities in the world. France is not only known for its outstanding reputation in music and art, but there are many other areas of study that international students can explore. Education loan in India for Bachelors in France through GoStudy boasts more than 3500 higher Education Institutions. There are many schools, locations, and courses to choose from. There are a variety of short-term courses to choose from, in addition to master's and bachelor's degree programs. There are many options with Collateral For Education Loan In France. You will love every minute of your time in France, no matter what choice you make. If the student's financial situation is not good, then surely he/she can opt for an Education Loan for France without collateral through GoStudy. If the student is not eligible for an unsecured France education loan, the following documents can be used as collateral.

  • House/Flat/Apartment: A personal residential property that has no dues or any standing loans
  • Other legal residential property that is free from dues and repayments
  • Surrender Value Certificates for Life Insurance equal to the amount required for sanction
  • Fixed Deposit from a registered NBFC, or a nationalized bank with a letter confirming that it has been assigned to an education loan in France
  • Legally, a non-agricultural property.

Many Indian students travel to France every year for higher education. While it is cheaper to study in France, you will still need to pay a lot to finance your education there. Secured loans offer some of the most beneficial educational loans for those who want to take out an education loan in India for Bachelors in France through GoStudy to study at a university in France. One of the most significant advantages offered by federal education loans from bank schemes is reduced interest costs, no-cost moratoriums as well as flexible repayment policies for loans, and more

University-wise pre-approved amount for unsecured education loan to study in France

France is among the largest names in the world of education loans and offers extensive coverage of the most prestigious and prestigious universities worldwide. The list of Institutions Accepting the best education loan for a bachelor in France is accessible to students across 150 countries. You can also check out the list Of Top 50 Abroad Universities that are accepted by France Education Loan too. There is no requirement to provide an acceptance letter to be eligible for the France Education Loan, With or without collateral.

Below is a list of universities that have been approved by banks to receive an education loan that is not secured to pursue a degree in France:

List of Universities accepted by Education Loan through GoStudy

GoStudy’s Pre Approved Education Loan Amount

ESSEC Business School 35 Lakhs (Approx)
HEC Paris 35 Lakhs (Approx)
INSEAD 35 Lakhs (Approx)
ESCP Business School 30 Lakhs (Approx)

Co-applicant for the France Education Loan Without Collateral

In the case of secured loans, a co-applicant's earnings are not mandatory. For loans with no collateral, co-applicant income is required and varies between lenders. The income of the co-applicant must be higher than 35k per month to qualify for an education loan to MS applicants in France with no collateral. For NBFCs, the requirement is greater than 25K per month.

To put it simply, the application, the co-applicant, is additional security to the financial institution lending it. There's an inability to pay back the loan at the time of the applicant's tenure due to unforeseeable circumstances.

Below is a list of co-applicants to the Non-Collateral Education Loan for France that is eligible:

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

Eligibility Criteria For Education Loan for the France Without Security Through GoStudy

France's Education Loan Requirements are very easy to comprehend for anyone who isn't aware of the sector of education loans. The eligibility criteria for best education loan for Bachelors in France through GoStudy is the fact that they are able to be offered to students from more than 50 nations. The criteria for being eligible to be eligible to receive France Education Loans are as the following:

  • Indian citizenship is required for loan applicants.
  • The borrower must be at least 18 years of age.
  • The applicant for a loan must hold a diploma from an Indian university/high school.
  • A French institution must accept the loan applicant.
  • The minimum CIBIL score for an education loan without collateral for France through GoStudy must be met.

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Documents required for Education Loan for the France without collateral through GoStudy

Students who want to finance their education with an education loan for France without collateral through GoStudy should plan ahead and apply at least 7 to 8 months before the start of classes. They must first be accepted to the school they want to attend. Students should determine the cost of their studies in France and calculate how much they can borrow. They also need to research the best banks for loan options. They should also gather all the documents required to submit the loan application form.

  • Acceptance letter from a French institution.
  • Application form for a student loan.
  • Passport or another ID
  • Passport-size photographs.
  • Documentation proving residence
  • Financial proof.
  • Academic transcripts
  • Standardized test scores
  • Documents that relate to collateral

There may be additional documents that are required in addition to the previously mentioned documents, and they will differ according to the specific circumstances of each student.

Process & Procedures For Unsecured Education Loan for France Through GoStudy

GoStudy is one of the biggest financial institutions in the country, offering education loans to hundreds of students to finish their education in France. The application process for an education loan with France starts by contacting our experts at GoStudy. Talk to them on how much financial assistance is required for education in France, the particulars of the academic program offered at the school you prefer, and the complete information about the applicant.

The time required to process a loan is 15 working days for banks that are public and 10-12 days working for banks that are private, and 7-10 days for NBFCs. Following a thorough review and signature of the loan agreement, The loan amount will be paid as soon as possible, either via DD or Cheque or via an electronic transfer.

Sanction & Disbursement of Education Loan Without Collateral for France Through GoStudy

If the loan is approved by the institution as a whole then a sanction letter is issued affirming the same. It includes detailed information like the name of the course, the names of the institution and the amount of the loan approved, the name of the applicant as well as the name of co-applicants, the guarantor name (if the case) as well as the interest rate as well as the repayment period as well as the moratorium/holiday time period, and just a few. It also outlines all terms and conditions that apply to the loan. After the successful approval of the Education Loan for France with no Collateral, the funds are ready to be paid either to the institution for the tuition payment or to the accounts of the beneficiary, which could be the applicant or co-applicant solely based on what was mutually agreed upon by the parties

The amount of money that is disbursed is made in Indian National Rupee (INR), which may be in part or as a whole payment based on the requirements and procedures of the borrower and lender. The bank will pay the amount after you sign your loan agreement for your education in France. The bank will either pay you the amount in monthly installments or a lump sum, depending on your agreement. The bank may also pay tuition fees directly to universities in some cases. Spend the money you have received on tuition fees, books, laptop purchases, accommodation, and other expenses.

Moratorium Period For Education Loan Without Collateral for the France Through GoStudy

A moratorium period must be granted to every student who receives an education loan. This is the time during which the student cannot repay the loan. It usually lasts six months to one year. The repayment tenure is the amount of time it takes for the loan to be repaid. Students can pay in monthly installments in France. Most banks offer payback terms of 5-7 years.

Repayment of Education Loan for Bachelors in France Through GoStudy

Some banks offer a 10-year repayment term. This is a great benefit for students as they have time to find a great job and save their money until the repayment date arrives. But, they can decide to start repaying the loan prior to completing the course. It is possible to inquire about the moratorium period thoroughly and know the specifics before you take the next step.

The different payment options for non-collateral Education Loans for France:

  • Partial Simple Interest
  • Simple Interest
  • EMI
  • Full Moratorium period

Tax Benefit For Unsecured Education Loan for the France under Section 80E of IT Act Through GoStudy

The amount you pay for interest on the loan you took to fund your education in France could be tax-deductible under Section 80E of the Revenue Tax Act of 1961. This benefit is only available to individuals, and it is restricted to the need to continue education. The deduction is available to all fields of study offered nationally and internationally. It covers academic as well as vocational programs. The deduction is available to all courses for the purpose of which the loan for education is provided to help you study abroad in France. The law does not specify the amount of tax benefit is requested, but it is recommended to ensure that repayment of the loan occurs within eight years from the date of interest repayment. If you can ensure that your repayment falls within the timeframe, then you can get all the benefits offered in this section.


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