Education Loan to study in France through GoStudy

Getting an education loan to study in France through GoStudy is one of the smartest decisions you can take toward your career.

Explore the most comprehensive range of education loans to study in France through GoStudy and accomplish all your career-related requirements in France. Our consultants at GoStudy offer the best education loan to study in France. With offices in major cities like Mumbai, Hyderabad, Bangalore, Chennai, Trivandrum, Pune, and Cochin, we are always there for you 24x7!


9

Factors That Can Get You An Education Loan to study in France through GoStudy

1

Excellent Academic Profile

You need to have an excellent academic background with proven credentials to procure an education loan to study in France through GoStudy.

2

University Choice

Your selection of the university for securing employment can directly impact the education loan to study in France through GoStudy.

3

Future Focused Programmes

GoStudy features 90% of the lucrative and popular courses from French universities in regards to future employment opportunities.

4

Extensive Opportunities in France

You can witness a chain of opportunities in France, and we assist you in fetching an education loan for France in India through GoStudy.

5

No Income Proof is Required!

Simply depending on the KYC, you can easily avail of compelling education loans to study in France through GoStudy.

6

Easy Sanction & Disbursement

You are not required to undergo any complicated loan processes and formalities as GoStudy offers faster sanction and simple loan disbursement.

7

Comprehensive Education Loan Product

GoStudy boasts an unparalleled list of lucrative education loans to study in France.

8

Loan Processing on Priority

GoStudy is the fastest in processing loans and our partner banks do it with ease.

9

Lowest Interest Rates In The Market

GoStudy can assist you in procuring cheaper interest rates on repayment as low as 0.5% to 1% less than other market loan providers!


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Education Loan to study in France through GoStudy

The rising costs of education abroad and the whopping increasing accommodation costs, travel costs, etc, have left students with no other choice than to go for education loans. When it comes to studying in France, Education loans to study in France through GoStudy help you to manage and meet all your financial requirements seamlessly and in a completely hassle-free way. Education loans to study in France through GoStudy bring a host of benefits and can save you substantial money, alongside ensuring funds are always available for you in need. Education loan for France in India through GoStudy is one of the most imperative choices owing to the trusted financial partners who always help you out.

When you try to go for education loans to study in France through GoStudy, students can usually pick from two different kinds of loans, namely secured loans, and unsecured loans. One more partially secured loan is also available but is not that popular among students. Due to the rising requirements for education loans, all the leading banking organizations and NBFCs have stepped forward with interesting and compelling schemes with assistance from the government for various France education loans in India through GoStudy. These education loans cover diverse ranges of expenses right from your Tuition costs, Staying or rent Costs, Travel, Fooding, Shopping, etc., while you are pursuing your study in France at peace. An education loan for France in India through GoStudy can meet all your financial needs and boosts your career aspirations.

Besides the necessary expenses of education and university fees, students need to manage other important as well as miscellaneous expenses. GoStudy experts can assist in getting the best education loans to study in France that help with other expenses such as electronic gadgets and study materials prior to traveling & other traveling expenses for making it to the country.

Education Loan to Study in France
Education Loan to Study in France

Interest Rate For Education Loan To Study in France through GoStudy

Interest rates are levied for the repayment whenever you take any form of loan from a financial lending institution. The same goes for education loans to study in France through GoStudy, where interest rates are placed on the loan repayment against the sanctioned amount to the student. The rate of interest is judged against the credit score, course selection, co-applicant income, and job prospects. A good credit score always plays a crucial role in fetching education loans to study in France through GoStudy. GoStudy makes it possible for students to ensure that the interest rates are very affordable so that all their dream career pursuit comes true. Our team of consultants always makes themselves free to answer any of your queries regarding an Education Loan for studying abroad in France through GoStudy.

Unsecured Education Loan for studying abroad in France through GoStudy has flexible rates of interest that may change over the course of time depending on the academic profiling and credit outstanding. A simple interest mathematical approach with monthly rest is being improvised to calculate interest rates for education loans to study in France through GoStudy.

Below listed are the interest rates for an education loan to study in France through GoStudy without Collateral:

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%

More so, the below mentioned mathematical formula is used to calculate the EMI based on the interest rate for Education Loan to study 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 that are covered in an education loan to study in France through GoStudy?

Education loans to study in France through GoStudy can cover 90% of the expenses in most cases, and 100% in some that include education, traveling, and shopping budgets. The expenses include your tuition fee, accommodation, food, travel & other expenses. GoStudy’s trusted financial partners tackle all the needs of students intricately and oversee that education is not impacted due to a shortage of funds at the right time.

Below is the list of the cost covered in an Education Loan Without Collateral for France through GoStudy :

  • Tuition Fee
  • Living Expenses
  • Books
  • Laptops
  • Travel Tickets
  • Health Insurance
  • Other Electronic Gadgets
  • Any Application Expenses
  • Competitive Exam Fee
  • Visa Application Fee

Education loans to study in France through GoStudy can go up to a whopping amount of 50 lakhs when you take assistance from GoStudy, but it may depend on the individual profile of the candidate. Some criteria that determine the loan amount are the university choice, course choice, and post-completion job prospects.

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

Securing an admission offer letter from any prestigious university in France is a fantastic and sure-shot way of procuring a higher-value Education Loan to study in France through GoStudy. The attended course value in terms of prospects and employability prospects also determines how much you are eligible for an education loan to study in France through GoStudy without collateral. With GoStudy, students can secure loan value of up to 50 lakhs INR provided that they have a good financial portfolio and academic profile. The loan allocation and final disbursal of the non-collateral Education Loan for France are judged by the creditworthiness of the candidate. The higher your credit score is, the better your chances of securing a higher loan amount to study in France.

Below listed documents are required to initiate the process of obtaining a Non-Collateral Education Loan to study in France through GoStudy:

  • Unconditional/Firm/Confirmed Offer Letter
  • A co-applicants whose Income Proof is also not required in many cases
  • PAN Card
  • Academic Documents
  • IELTS/TOEFL/PTE/English Language Scorecard, if any
  • Valid Passport

Unsecured Education Loan for the USA Without Collateral Through GoStudy

Nevertheless, non Collateral Education Loan for the USA through GoStudy parameters may vary for individual applicants.

Below is a list of the financial institutions that provide education loan to study in the USA through GoStudy :

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

If you want to make sure of the approval of an Education Loan to study in the USA through GoStudy and take no chances, you must procure a letter of admission offer from the top universities in the USA. The course selected by the student and the future prospect of employment are important factors for the eligibility for an education loan to study in the USA through GoStudy. Financial partners at GoStudy ensure you can get a loan amount of up to 50 lakhs and a minimum of 2 lakhs, provided that you have a good financial background and a stronger academic portfolio. The sanction quantum and disbursal of the Education Loan through GoStudy for the USA in India are determined by the creditworthiness of the candidate. The higher your credit score is, the higher your loan amount will be for studying in the USA.

Below listed documents are required to initiate the process of obtaining a Non-Collateral Education Loan through GoStudy for study in the USA :

  • Unconditional/Firm/Confirmed Offer Letter
  • A co-applicants whose Income Proof is also not required in many cases
  • PAN Card
  • Academic Documents
  • IELTS/TOEFL/PTE/English Language Scorecard, if any
  • Valid Passport

The various parameters for Non-Collateral Education Loan for France through GoStudy may change depending on individual candidates’ profiles.

Collateral For Education Loan In France through GoStudy

You never have to go through any hectic loan process and legalities when GoStudy can help you get the best education loan to study in France. As mentioned before, there are two primary types of education loans to study in France through GoStudy, and let us now discuss the collateral or secured France education loans in India.

Collateral loans are secured loans that can save you substantial money on interest rates and can land better deals for you. In the case of collateral loans, the applicant needs to pledge any form of immovable asset or liquid assets such as gold or fixed deposits accepted by the lending institution as a security against the sanctioned loan. The types of assets may vary for each individual applicant’s case. France education loan in India through GoStudy derives with a hassle-free and easy process for students. Collateral loans are always the most convenient option if you have surplus assets to pledge and have a good credit score. Those who cannot qualify for an unsecured education loan to study in France through GoStudy can also go with these loans to save a significant amount of money. Let us check out a few basic documents that lenders accept as collateral security:

  • House/Flat/Apartment - A personal residential property that has no dues/any standing loan on it
  • Any other legal residential property with no dues or repayments
  • Fixed Deposit by a registered NBFC or a nationalized bank, with a letter of affirmation from the end manager of the institution assigning it in favor of an education loan to study in France.
  • Surrender Value Certifications of Life Insurance that are equal to the amount that is required for sanction
  • A non-agricultural land within legal parameters

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University-wise pre-approved amount for Education loan to study in France through GoStudy

Owing to the massive demands of students approaching France education loans in India through GoStudy, most leading banks and NBFCs have stepped forward with money-saving schemes for students. France has one of the most impressive economies and boasts some of the most prestigious universities, which makes the lenders feel comfortable in granting education loans to study in France through GoStudy with ease. With the rising number of students, which counts to as high as 40,000+, wanting to study in France, you will not fall short of lenders offering unsecured education loans for France in India through GoStudy.

Below is the list of universities that have been pre-approved by the banks for an unsecured education loan to study in France through GoStudy

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 France Education Loan in India through GoStudy

To make sure your education loans are sanctioned, you need to ensure a co-applicant while filling up your info. Irrespective of surplus wealth and assets along with a higher credit score, most financial lenders will still ask you for a co-applicant as the student will be studying abroad with the education loan to study in France through GoStudy and have no income source, a co-applicant will serve as a security to the financial lender. The co-applicant's creditworthiness is judged by their age, relationship with the applicant, income, credit score, assets value, and financial portfolio.

Co-applicants secure the loan sanctioned so that in any case, under any circumstances, the candidate defaults to repay the loan back; the co-applicant can come forward and repay the education loan for France in India through GoStudy.

Below is the list of co-applicants for Education Loans for France in India through GoStudy that are accepted:

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

Eligibility Criteria For Education Loan to study in France through GoStudy

Education loan to study in France through GoStudy, eligibility requirements is very simple and transparent to make it convenient for the student. Students must receive a firm-confirmed unconditional letter of admission offer from any prestigious French university to get an affordable education loan through GoStudy for studying abroad in France. This ensures the student’s eligibility is authentic for admission and that the admission offer cannot be revoked at any point in time. Apart from that, there are a few other requirements for an education loan for France, which are as follows:

  • A citizen of India who is at least 18 years old.
  • Has a valid co-applicant or a co-borrower, working in India or anywhere in the world, or self-employed in India. The person should be either Parent, Parent-in-law, Spouse, Siblings, Maternal & Paternal Uncles & Aunt.
  • The minimum CIBIL score for an education loan to study in France must be met.

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Documents required for Education Loan to Study in France through GoStudy

While the main documentation process for an education loan through GoStudy to study in France is the same for all students, in certain cases, it may change over a period of time. At GoStudy, our experts make sure the process is flawless, and we help you fulfill all the requirements. The list of documents that are required for an Education Loan through GoStudy to study in France are as follows:

  • Student’s KYC
  • Student’s Educational Documents
  • University Course Details & Fee Structure
  • 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

Any need for additional documents may depend on the sole discretion of the lender who is lending an Education Loan through GoStudy for studying abroad in France.

Process & Procedures For Education Loan to study in France through GoStudy

Because of the higher demand for education loans through GoStudy to study in France, most financial lenders are offering impressive schemes for education loans through GoStudy to study in France. To initiate the process of an education loan to study in France through GoStudy, the student needs to inform the bank about the loan amount required along with self-details, university details, co-applicant details, course name, tenure, and other relevant details. Make sure to double-check the co-applicants' identity.

Right after the first round of checks and verifications are done, the student will receive a formal loan letter. The processing time for the loan is usually 5-7 days for an Education Loan through GoStudy To Study in France. Post the review of the details and the agreement is signed, the loan amount will be disbursed at the earliest through a DD, Cheque, or Electronic Transfer.

Sanction & Disbursement of Education Loan to study in France through GoStudy

A final sanction letter with information such as applicant information, co-applicant information, course, EMI, moratorium, guarantor, if any, interest rate, tenure, and all other necessary information is released to the candidate after the sanction. The sanction letter has to be a complete letter with all important information and not an in-principle letter because an in-principle letter isn’t accepted by most universities as it states that the student is yet to qualify for the loan.

When the Education Loan to study in France through GoStudy is sanctioned, the funds will be sent over to the university as tuition fees or to the applicant or co-applicant, whatever was decided mutually at the time of signing the agreement. The disbursement that is made is in Indian National Rupee (INR), which can be either in parts or a full disbursement based on the needs and the protocols of both the borrower & the lender.

Moratorium Period For Education Loan for Studying Abroad in France through GoStudy

The moratorium period is the interim time when the student does not pay any EMI, usually upon the sanction of a loan to study until the successful employment period. Most banks that offer France education loans in India through GoStudy have a flexible moratorium period. You can pay a fraction of simple interest during the moratorium period, which may be as low as just 2,000 INR, until the completion of the course and till the time you secure employment. Hence, it is important to carefully check the moratorium details before proceeding with the loan.

Repayment for Education loans to study in France through GoStudy

Education loans to study in France through GoStudy are flexible, have an easier repayment period, and students can choose at their convenience. One can choose repayment tenure; anything between the time ranges from 12 months to 180 months on average, depending on the ability and convenience. However, for students who do not have a strong financial portfolio, banks may recommend an ideal repayment period for them.

The various categories of repayment options for Education Loans through GoStudy to study in France :

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

Tax Benefit For Unsecured Education Loan for France through GoStudy 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 on an Education Loan through GoStudy to study in France for the financial year. You, your spouse, your children, or your legal guardian who has partaken responsibility in your Education Loan can claim these benefits. The deduction is applicable to all the courses for which the education loan is granted for your education abroad. The rule does not state how much tax benefit can be claimed, but it is advised to ensure the loan repayment is made within eight years of interest repayment. If you ensure the repayment is within this tenure, you are eligible to claim all the benefits under this section.


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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