Education Loan for MS in France Through GoStudy

Dream high and ascend higher with an education loan for MS in France through GoStudy, India’s leading education loan provider.

Take advantage of the impressive education loans for MS in France through GoStudy and witness a glorious career ahead. The exclusive pre-visa disbursement makes the lenders hesitant to grant an education loan for masters in France through GoStudy. Nevertheless, you can get the best education loan for MS in France through GoStudy sanctioned without any hurdle. GoStudy represents loan products from major NBFCs and banks in India, ensuring the most competitive deals.


9

Factors That Get You an Education Loan for MS in France through GoStudy

1

High Scores in Qualifying Examinations

Increase your chances of having the best education loan for MS in France through GoStudy by securing high rankings or grades in qualifying examinations.

2

Excellent Academic Record

When you showcase an excellent academic record, banks and other lending institutions are more than happy to grant you an education loan in India for MS in France through GoStudy.

3

Choice of Top-Tier University

A letter from a top-tier university in France is the key to education loans for MS in France for Indian students. GoStudy covers the majority of French universities.

4

Promising Future

GoStudy improves your eligibility for an education loan for a masters in France for Indian students by covering 90% of the courses.

5

Strong Financial Background of Guardians/Parents/Co-Applicants

The strong financial background of your co-applicant increases your chance of obtaining an education loan for MS in France through GoStudy.

6

KYC in Place

With GoStudy, you do not require income proof to avail of an education loan for masters in France, but you need to have your KYC in place.

7

Zero EMI till You Complete Studies

GoStudy offers a full moratorium for course duration and 12 months duration after course completion. You do not require to pay anything until this - no EMI or PSI.

8

Long Loan Repayment Tenure

GoStudy understands your priorities and therefore offers the facility to repay an education loan for MS in France for Indian students up to 12 years.

9

Complete Funding of Living, Tuition and Other Expenditures

Be it any expense you need to bear for your MS studies in France, GoStudy's education loan for masters in France for Indian students covers it all.


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Education Loan for MS in France through GoStudy

As the main borrower or student, you must have a good academic profile with no academic gaps or backlogs to avail of an unsecured education loan in India for MS in France through GoStudy. Your co-applicant's CIBIL score should be above 700. If you meet these eligibility criteria and have all the specified documents, you can easily apply for an education loan for masters in France for Indian students through GoStudy without collateral.

The procedure is difficult as you must keep many nuances in mind. Therefore, it is best to take the services of the GoStudy team, who are experts in this field and will help you complete the process without hassle. With us, your chances of loan disapproval are also next to impossible as we take care of everything from complete profile evaluation and financial assessment to the right guidance on selecting the lender for your education loan for MS in France through GoStudy.

Education Loan for MS in France
Education Loan for MS in France

Interest Rate For Education Loan for MS in France through GoStudy

The interest rate in an education loan for MS in France for Indian students through GoStudy is the key to determining the total amount you need to repay when the EMI starts. Your lender will charge you a specific interest rate on the principal amount given away as the best education loan for MS in France through GoStudy. Part of this interest will also depend on your overall credit score, co-applicant's income and your academic profile.

Note that the interest rate for an unsecured education loan will usually be higher than that of a secured education loan. An interest rate on an education loan fixed by the bank plays an important role in your potential to pay back the borrowed amount. Although you do not need to pay the entire amount during the moratorium period or while pursuing your MS in France, the good idea is to pay at least the interest amount during this period. This will help you ease the EMI burden and will also help you get certain concessions on the principal amount of your loan.

Your interest rate on an education loan can vary as per the lending organisation and the loan repayment tenure. In any case, you can avail of the services of GoStudy to get the best education loan for masters in France through GoStudy at the lowest rates of interest prevailing in the market. The experts working for us ensure you get all queries regarding the ROI of your education loan cleared as soon as possible.

Below is a list of the interest rates provided for education loans for MS in France 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%

You can use the mathematical formula below to calculate the EMI you need to pay against your principal loan amount every month based on the interest rate of your education loan for masters in France through GoStudy:

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 in an Education Loan for MS in France through GoStudy?

In the first place, you need to estimate the amount of money you will need to study MS in France. Generally, an education loan for masters in France through GoStudy covers all the expenses you must incur when pursuing your masters in France. Here you will find the list of expenses that your education loan in India for MS in France through GoStudy will cover:

  • University fee payable for each academic period
  • Hostel or accommodation charges. These will include meals and other expenses on rent, transportation and utilities.
  • Library, laboratory and examination fees.
  • Expenses on books and equipment, such as computers or laptops
  • Expenses on uniform
  • Building fund, refundable deposit and caution deposit
  • Other expenses needed to complete MS courses in France, such as project work, thesis and study tours.

You can get an education loan for MS in France for Indian students through GoStudy up to Rs. 50 lakhs for all major universities. However, your chances of loan approval will majorly depend on your choice of university, the employability factor of your MS course and your academic profile. These parameters of loan approval can vary from one lender to another. However, the entire procedure can get completely free of hassle and transparent with the services of GoStudy. Our representatives take care of everything right from the beginning till the end. Below is a list of the financial organisations that offer education loans for masters in France for Indian students through GoStudy.

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

Following are the lists of the Costs Covered by Education Loan for MS 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)

Education Loans for MS in France Through GoStudy Without Collateral

The rank of your French university where you have secured admission is one of the most important factors when you want an unsecured education loan for masters in France through GoStudy. However, apart from this factor, various other factors play a crucial role in availing an unsecured education loan for MS in France through GoStudy. The best education loan for masters in France without collateral is offered by private banks, nationalized banks and NBFCs. Important documents you need to avail the best education loan for MS in France through GoStudy without collateral include:

  • Your academic documents
  • Offer letter showing university tuition fees.
  • Borrower's and co-applicant's KYC documents
  • Borrower's and co-applicant's saving account details
  • Residence proof
  • Income proof of the co-applicant based on business or salaried

Collateral for Education Loan for MS in France through GoStudy

A collateral education loan for MS in France through GoStudy necessitates the provision of some kind of collateral against the loan to serve as security. This collateral is provided to the lender, who can sell off the collateral to get back the loan amount if the borrower turns into a defaulter or cannot repay the loan because of certain issues. Below is a list of items to use as collateral to avail of a secured education loan for masters in France through GoStudy:

  • Tangible assets include houses, non-agricultural land, flats and other similar structures.
  • Intangible assets, like fixed deposits, government bonds and life insurance.

In India, the government banks generally provide secured education loans for MS in France through GoStudy. Note that the education scheme's maximum loan amount of any government bank is determined by the value of the collateral security.

Going for a secured or collateral education loan for masters in France through GoStudy means you will get a higher loan amount because of the security you provide the bank against non-repayment of the loan. The interest rates on these loans are also very low because of the security you already provide to the bank.

University-Wise Pre-Approved Amount for Education Loan for MS in France through GoStudy

In India, you can easily find several financial institutions and banks that offer education loans for MS in France through GoStudy. France is the perfect destination for Indian students to pursue their masters. It features some of the top-ranked universities in the world offering less-expensive MS education to overseas students. Not only Indian students but students from around the globe get to France for their higher education. Though it costs a meager amount to complete your masters in France, you require a huge amount of money to finance your higher studies here.

Below is the list of French universities pre-approved by banks for the best education loan for MS in France through GoStudy:

List of Universities accepted by Unsecured Education Loan for MS in France through GoStudy

GoStudy’s Unsecured Pre Approved Education Loan Amount for MS in France

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

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Co-Applicant for Education Loan for MS in France Through GoStudy

The availability of the best education loan for masters in France through GoStudy is a major responsibility. As a student, it will be difficult for you to take up this responsibility as you do not have any income and also because you will be staying abroad in France pursuing your masters. In that case, have a co-applicant or cosigner for your education loan in India for MS in France through GoStudy. The co-applicant is an additional individual with a secured financial profile who co-signs the loan contract along with you.

This will be the person to whom the lender will turn if you fail to repay the loan amount because of certain unforeseen circumstances. However, it is important to note that lending organizations will consider the CIBIL score of the co-applicant before processing your education loan for MS in France for Indian students through GoStudy. The co-applicant also needs to submit ITR documents as proof of IT returns to improve the chances of education loan approval. The amount of income the co-applicant makes is an important factor the lending organizations consider when processing an education loan for masters in France for Indian students through GoStudy. The co-applicant must provide income proof, like salary slips of the last six months reflecting timely salary transactions.

Here is a list of accepted co-applicants for an education loan for masters in France through GoStudy:

  • Parents
  • Siblings
  • Parents-in-law
  • Spouse
  • Maternal uncles and aunts
  • Paternal uncles and aunts

Eligibility Criteria for Education Loan for MS in France through GoStudy

Before applying for an education loan for MS in France through GoStudy, you must check whether you are eligible for the loan or not. The basic eligibility requirements to avail of the best education loan for MS in France through GoStudy include the following:

  • The loan applicant should be an Indian citizen between 18 and 35 years of age.
  • The borrower should have applied at and been accepted at an esteemed French university for a full-time MS course.
  • The applicant also needs to have a good academic profile.
  • The applicant's MS course must be job oriented.

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Documents Required for Education Loan for MS in France through GoStudy

As an applicant for the best education loan for masters in France through GoStudy, you must submit some important documents along with your application form. Below, you will find the list of documents you must keep handy for a swift loan approval procedure:

  • Admission proof or acceptance letter
  • Academic mark sheets, degrees, and certificates
  • Student loan application form
  • ID proof like a voter ID card or valid passport
  • Passport size photographs
  • Birth certificate as age proof
  • Residence proof for both the borrower and the co-signer
  • Examination scores of GRE/GMAT/TOEFL/IELTS
  • Co-applicant's bank statements for the last six months
  • Co-applicant's income proof

Process & Procedures for Education Loan for MS in France through GoStudy

You can start by applying for an education loan in India for MS in France through GoStudy once you have finalized the lending institution and the amount of money you need as a loan. Fill in the loan application form with accurate details like your full name; your parents' name; date of birth; residential address; ID proof; course name and duration; university name; employment and income details of co-borrower; security type; liabilities; tuition fee and so on. Once you have filled in everything correctly, recheck and submit all the documents.

Your lender or banking institution will then go through all the documents and, if it does not find anything suspicious, will approve your loan. After the loan approval, you will get a loan document from your bank or a loan sanction letter with all the loan terms and conditions and other details. Go through all the elements of this letter carefully and then sign it.

Sanction & Disbursement of Education Loan for MS in France through GoStudy

After signing the loan agreement for an education loan for MS in France through GoStudy, your lender will disburse the loan amount. According to the contract, you will get the loan amount either in installments or a lump sum. The bank might even pay the tuition fee for the university directly or transfer the money into your account. Once you receive the loan, spend it on important expenditures, like books, tuition fees, accommodation, and laptop purchases.

Moratorium Period for Education Loan for MS in France through GoStudy

The moratorium period is the holiday or grace period during which you do not need to start paying your loan EMI instantly. While the public sector banks allow their borrowers to pay nothing during this period, private lending organizations require their borrowers to pay with partial or complete interest on their education loan for masters in France through GoStudy during the moratorium period.

You can repay your education loan for MS in France for Indian students through GoStudy at any time during your course duration or 6 months post-course completion. Note that if you manage to pay off the entire loan amount before course completion, you will not have to pay any interest against your loan. At the end of the moratorium period, you get documents from the government detailing the interest rate on the loan and the loan repayment amount you owe to the bank.

Repayment for education loan for master's in France for Indian students through GoStudy

Different repayment options are available for an education loan for masters in France for Indian students through GoStudy. These include:

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

Tax Benefit for Education Loan for MS in France under Section 80E of IT Act

An education loan in India for MS in France through GoStudy can not only help you in financing your studies but can even help you save a huge amount of money as tax. Suppose you avail of an education loan for masters in France through GoStudy and repay the loan amount accordingly. In that case, the interest you pay on the loan is allowed as a deduction from total income under Section 80E of the Income Tax Act 1961. However, this deduction is available only for the interest of the EMI, and there's no tax benefit for the principal EMI part. The maximum amount allowed as tax deduction has no limit. You need to get a certificate from your lending organization to segregate the interest and principal portion of your education loan for MS in France through GoStudy paid by you during the financial year. Interest deduction on loan will start from the year you start with loan repayment and is available for eight years.


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