Education Loan for Masters in the UK Without Collateral Through GoStudy

GoStudy offers some of the very best education loans available to students for their dream career such as education loan for Masters in the UK without collateral.

The UK boasts some of the world's most prestigious academic institutions, like Harvard, Oxford, and Cambridge, making it a perfect destination for your studies and future prospects. With the aid of GoStudy, it is simple to get an education loan for Masters in the UK without collateral and continue your study. We're based in a number of places in India, like Hyderabad, Mumbai, Cochin, Bangalore, Trivandrum, etcetera, to assist you.


9

Factors That Can Get You An Education Loan for Masters in the UK Without Collateral through GoStudy

1

Shining Academic Report

Students with high performing graduation scores can easily avail of some of the best education loans for Masters in the UK without collateral through GoStudy.

2

Excellent Universities

GoStudy has collaborated with some of the best UK universities for making it easy to secure comprehensive deals on educational loans.

3

Immediate Job After Courses

Education loans for Masters in the UK without collateral through GoStudy can help you with the best courses post which employment is guaranteed.

4

Comprehensive Course Choices

Students are offered comprehensive choices of popular and prospective courses in the UK so they can look forward to a lucrative career.

5

Get Loans on Your KYC

With GoStudy, you no longer have to submit income proof and only your KYC would suffice for education loans for Masters in the UK without collateral.

6

Faster Disbursement

Unsecured education loans for Masters in the UK through GoStudy comes with brilliant processing speed and faster disbursal than ever.

7

Diverse Education Loan Schemes

GoStudy with its trusted financial partners are able to offer you diverse choices on several loan schemes to make everything seamless for you.

8

Priority Loan Sanction

GoStudy ensures that the education loans for Masters in the UK through GoStudy without collateral are processed and sanctioned on priority.

9

Cheaper Interest Rates

GoStudy is able to offer you the best interest rates which is oftentimes less than 0.5% to 1% than other lenders in the market.


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Unsecured Education Loan for Masters in the UK Through GoStudy

Although it is an ideal situation for a talented student to study abroad, due to the high costs of living abroad, traveling and education, it's not realistic for most people to pursue this dream. GoStudy offers you unsecured education loans for Masters in the UK, and this will help you not only achieve your career goals, but will be transparent and safe as well. GoStudy offers students a number of attractive loans to study in the UK, such as government grants and scholarships, so you are able to study abroad without having to worry about funding. The Education loan for Masters in the UK without security through GoStudy is made utterly creative as we've partnered with the best financial lenders to make sure you do not face any problems.

When it comes to getting education loans for Masters in the UK through GoStudy, there are two main types to choose from: unsecured loans and secured loans. A third type for partially secured loans is also available, but it is less popular than the first two. The growing needs for education loans among pupils have caused the NBFCs and banking groups to think of a number of intriguing avenues with regards to education loans for Masters in the UK without collateral through GoStudy. Taking care of multiple expenses directly out of your academic charges, Shopping costs, Food expenditures, Travel, Accommodation Costs, you are able to study easily in the UK as we look after all your interruption-free funding. GoStudy provides you with an education loan for Masters in the UK without collateral that is able to help you meet all your expenses so that you can concentrate more on your studies and career.

There are many costs associated with studying abroad, beyond the obvious costs of tuition and accommodation. If you need to pursue education in the Uk, GoStudy can help you plan out the best loans feasible that will allow you to purchase books, electronics gadgets, and even cover your expenses while you are in the UK.

Education Loan for Masters in UK Without Collateral
Education Loan for Masters in UK Without Collateral

Interest Rates for Education Loans for Masters in the UK Without Collateral Through GoStudy

Interest rates are always assessed on any kind of loan repayment and are thought of as a crucial component of every loan. The same is true with GoStudy education loans, which allow students to finance their studies in the UK while receiving an interest rate added to the amount of the loan. You can lower the rate of interest by improving your credit score, course selection, co-applicant income, and job prospects. To ensure that your aspirations do not go unfulfilled, GoStudy helps you find the most affordable interest rates on both secured and unsecured loans that are available to you. All of your questions about an education loan for Masters in the UK without collateral through GoStudy while studying overseas will be answered by our team of experts, who work for GoStudy.

Non-Collateral Education Loans for Masters in the UK through GoStudy are available with adjustable interest rates, however they are subject to fluctuate over time based on the course profiling and credit owed. To compute the interest rate on the education loans obtained through GoStudy to study in the UK, a straightforward interest formula with a monthly rest is being devised.

Below are the rates of interest offered on education loans to study MS in the UK without security 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% 9.25%
Unsecured Education Loan (Others) 11.75% 11.50%

The following mathematical equations are used to determine the EMI for an unsecured education loan to study MS in the UK through GoStudy based on the interest rate:

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

Note that the tenure is determined in months.

What are the costs that are covered in an Education Loan for Masters in the UK Without Collateral through GoStudy?

Up to 90% of the costs associated with admission, education, travel, and shopping budgets can be covered by education loans for Masters in the UK without Collateral through GoStudy for students wishing to pursue studies in the UK. The costs cover your course fee, rent and lodging, meals, travel, and other expenses. To avoid any difficulties, GoStudy's financial partners and our experts make sure that all of your funding needs are satisfied and meticulously taken care of. The list of expenses covered by an education loan offered by GoStudy in the UK without collateral is provided below.

  • Ticket prices
  • Expenses related to lodging
  • The price of a book
  • Purchasing laptop
  • Plans for Healthcare
  • Miscellaneous Electronic Devices
  • Various Application Fees
  • Distinct Exam Costs
  • Visa fees

Following are the lists of the Costs Covered by Non Collateral Education Loan to Study Masters in the UK 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)

Education Loan for Masters in the UK Without Collateral Through GoStudy

The loan amount can be up to 50 lakhs depending on the candidate's profile and other variables, and professional advisers can find you the finest unsecured Education loans through GoStudy for Masters in the UK deals. The university of choosing, the courses taken, and the likelihood of finding employment after graduation are some of the criteria that determine the loan amount. The numerous criteria for the non-collateral education loan for MS in the UK through GoStudy may also change depending on the particular candidates. The financial organizations that offer education loans through GoStudy for students in the UK are listed below:

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

The best way for a student to ensure that their application for an unsecured loan will be approved with 100% certainty is to obtain an unconditional admission offer letter from one of the top UK universities. This will make it much easier for lenders to give you a good education loan so that you can study in the UK through GoStudy. Course selected and future employability prospects after programme completion are some factors that determine qualifying for an education loan through GoStudy for Masters in the UK without collateral. With GoStudy, you may easily obtain school loans for the UK up to 50 lakhs as our professionals work hard to make it happen for you. The catch is that you have to be financially stable and have a strong academic record. The student's creditworthiness will determine the loan sanction amount and final disbursement of the unsecured education loan through GoStudy for studies in the UK. You can always get a bigger loan amount for studying in the UK if you have a better and improved credit score and no prior backlogs.

Below documents are important for obtaining a Non-Collateral Education Loan to Study MS in the UK through GoStudy:

  • Confirmed Admission Offer Letter
  • Co-Applicant with Income Certificate
  • PAN or ID Card
  • Academic Certificates
  • IELTS/TOEFL/PTE/English Test Marks Card, if any
  • Passport

Collateral For Education Loan for Masters In the UK Without Collateral through GoStudy

Why struggle with lengthy and confusing loan procedures and legalities when GoStudy can get you the finest unsecured education loan for MS in the UK? Just concentrate on your research; we'll handle the rest. First, let's talk about the secured or collateralized UK education loans through GoStudy that are available to Indian students who wish to study in the UK. As was previously noted, there are two main categories of these loans.

You will be making a wise choice if you choose collateral loans because they have lower interest rates, longer terms, and bigger loan values than other types of loans, which may help you save a lot of money. A loan with collateral is one where the student holds an asset as security, such as real estate, gold, fixed deposits, etc., that the lender accepts. In some circumstances, the sorts of assets may change depending on the needs and candidate profile. There is nothing to worry about because the application process for the UK education loan with GoStudy is simple. Collateral or secured loans are always advantageous for students with a stronger credit score, improved financial portfolio, and significant assets to pledge. Collateral loans can be useful for you if you are not eligible for an education loan through GoStudy for Masters in the UK without collateral and you have assets to pledge. The following papers are accepted by banks as collateral security:

  • House/Flat/Apartment - A residential property that is free of liens and does not have any unpaid bills, such as loans, pending.
  • any additional residential building that is legally permitted and is free of obligations or payments
  • In order to qualify for an education loan to study in the UK, you must have a fixed deposit with a bank and a manager's letter of certification.
  • Life insurance certificates with surrender values equal to the amount needed for sanction
  • a non-agricultural piece of land

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University-wise pre-approved amount for Education loan for Masters in the UK Without Collateral through GoStudy

The majority of Indian banks and NBFCs are now providing excellent programmes for UK education loans in India through GoStudy as a result of the rise in interest rates on education loans and the number of students going to the UK for studies. All lenders want to provide you with the most spectacular education loans through GoStudy so that you can easily study in the UK because it is home to some of the most prominent universities and has one of the most developed and advanced economies. You won't have any trouble finding lenders through GoStudy who are offering unsecured education loans for the UK through GoStudy due to the growing number of students—now numbering over 50,000—who wish to study in the UK.

Below listed universities are pre-approved by the banks for the unsecured education loans through GoStudy for Masters in the UK

List of UK Universities for Masters

Pre-approved unsecured education loan amount to study in the UK through GoStudy

Imperial College London 40 Lakhs (Approx)
University of Southampton 40 Lakhs (Approx)
University of Birmingham 40 Lakhs (Approx)
University of Manchester 40 Lakhs (Approx)

Co-applicant for Education Loan for Masters in the UK Without Collateral through GoStudy

Only when you have a co-applicant with you are you guaranteed 100% approval odds for an unsecured education loan for Masters in the UK without collateral through GoStudy. Even if you have extra money, assets, and a high credit score, lenders will still require a co-applicant to approve an education loan to study MS in the UK without security through GoStudy. Because the student has no source of income while studying overseas, the co-applicant serves as a security. Age, relationship to the applicant, income, credit score, asset value, and financial portfolio are a few factors that are used to determine the creditworthiness for the co-applicant.

In the event that the applicant is unable to make payments, co-applicants provide security for the sanctioned loan so that they would be responsible for paying back the GoStudy partnered education loan for Masters in the UK without collateral.

Below listed co-applicants are eligible for Education Loans for Masters in the UK without collateral through GoStudy:

  • Parents or in-law parents
  • Spouse or brothers or sisters
  • Uncles & Aunts from mother’s side
  • Paternal Aunts &Uncle

Eligibility Criteria For Education Loan for Masters in the UK Without Collateral through GoStudy

The conditions for a non collateral education loan through GoStudy to study MS in the UK are very clear and hassle-free based on your convenience. For students to be qualified for the finest education loan for Masters in the UK without collateral through GoStudy, they must have a firm-confirmed unconditional admission offer letter from any prominent UK university. This letter attests that the student has met all admissions requirements and that the admission offer cannot be withdrawn at any moment. A few more conditions for an education loan in the UK are as follows:

  • 18+ Years of Indian Resident.
  • Genuine co-applicant or a co-borrower, working or self-employed in the country or even abroad. The person needs to be among Parents, Parent-in-laws, Spouses, Brothers or sisters, or any legal guardians.
  • Credit score for an Education Loan for Masters in the UK without collateral through GoStudy should be at par.

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Documents required for Education Loan for Masters in the UK Without Collateral through GoStudy

Most of the time, the documentation procedure for a GoStudy education loan for Masters in the UK without security is the same. Nevertheless, some documents may alter based on the candidate's profile. At GoStudy, our professionals make certain that it is perfect for you and that you comprehend every detail. The following list of paperwork is needed in order to apply for a GoStudy partnered non collateral education loan for MS in the UK:

  • Students' KYC
  • Student's Academic Records
  • Course information and cost for the university
  • Conditional/Firm/Confirmed Offer Letter of Admission
  • Co-Applicant's KYC
  • Evidence of Co-applicant’s income
  • Student's ITR for 3 Years
  • Co-Borrowers ITR for 3 Fiscal Years
  • Age proof Documents
  • Evidence of Relationship with Co-Applicant
  • Bank Statement for Last 12 Months of Co-Borrower

An Education Loan through GoStudy for Masters in the UK without collateral may require the submission of some other additional documents, at the sole discretion of the lender.

Process & Procedures For Education Loan For Masters in the UK Without Collateral through GoStudy

Numerous financial lending firms have developed the best non collateral education loans to study MS in the UK through GoStudy in response to the rising demand for student loans for this purpose. The process begins when the student notifies the financial lender of the amount of the education loan through GoStudy for study abroad in the UK together with personal data, university information, co-applicant information, courses taken, course tenure, and other pertinent information. Given how crucial it is to the loan's approval, the co-identification applicant's should be verified twice.

A formal loan offer letter is provided to the applicant following preliminary examinations and the submission of crucial documents. When using GoStudy to Study in the UK, the processing time for a loan is typically 5-7 days. The loan is released as soon as possible via a DD, bank check, or electronic transfer after the facts are verified and the contract is signed.

Sanction & Disbursement of Education Loan For Masters in the UK Without Collateral through GoStudy

Following the completion of the verifications and the sanctioning of the loan, the candidate will be given a final sanction letter containing information on the applicant, co-applicant, courses, EMI, moratorium period, interest rate for repayment, loan tenure, and all other pertinent details. It includes crucial lending terms and conditions. Since most colleges reject an in-principle letter, which simply indicates that the applicant is not yet completely qualified for the loan, this letter must be a comprehensive sanction letter and not an in-principle letter

The money will be delivered to the university as entrance fees or to the applicant or co-applicant, depending on what was mutually agreed upon at the time of signing the agreement, following the sanction of an Education Loan for Masters in the UK without collateral through GoStudy. Depending on the requirements of both the borrower and the lender, the distribution is made in INR as partial or full installments.

Moratorium Period For Education Loan for Masters in the UK Without Collateral through GoStudy

The moratorium is a grace period after the loan has been approved during which no payments must be made until a job has been found. The majority of banks that provide education loans for Masters in the UK without collateral through GoStudy have variable moratorium periods. You can only make a small payment of 2,000 INR throughout this time, up until the end of the course and until you get a job. As a result, carefully research the moratorium period before applying for the loan.

Repayment of Education Loan for Masters in the UK Without Collateral through GoStudy

GoStudy offers multiple repayment options for students taking out education loans for Masters in the UK without security. You can choose one that best suits your financial situation. Depending on your abilities and convenience, the period might be anything from 12 months to 15 years. Students typically have the option to select their repayment schedule. However, banks may suggest a suitable repayment duration for students who do not have a solid financial standing.

The many repayment forms of education loans through GoStudy for Masters in the UK without collateral include:

  • Simple Interest
  • Partial Simple Interest Rate
  • EMI fixed Monthly
  • Complete Moratorium

Tax Benefit For Unsecured Education Loan for Masters in the UK through GoStudy under Section 80E of the IT Act

You may qualify for a tax exemption on the Education Loan for Masters in the UK without collateral through GoStudy EMI for that particular fiscal year under Section 80E of the IT Act. These advantages are available to any legal guardian or family who has accepted responsibility for the Education Loan. All of the courses for which the education loan is given for your international education are eligible for the deduction. You can take advantage of all the perks listed in this section if you make sure the payback is made within the allotted 8 years for interest repayment.


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