Education Loan for the USA Without Collateral through GoStudy

Explore a diverse quantum of education loans for the USA without collateral through GoStudy and fund your career.

If you are seeking impressive non-collateral education loans for the USA through GoStudy, look no further. GoStudy’s partnered education loans for the USA without collateral come with comprehensive terms. GoStudy’s partner NBFCs offers the best education loan for the USA without collateral deals. Gostudy’s experts from Mumbai, Hyderabad, Pune, Coimbatore, Delhi, Chennai, and Trivandrum offices are always there to make everything hassle-free.


9

Factors That Get You A USA Education Loan Without Collateral through GoStudy

1

Fabulous Academic Profile

If you have a magnificent academic profile with outstanding scores and no backlogs, you can qualify for an unsecured education loan for the USA through GoStudy.

2

University Choice

Choosing a university is the most important criteria for an education loan in the USA without collateral through GoStudy.

3

Future Prospect of Courses

The future prospect of your decided course is an integral factor for your study, and we at GoStudy cover more than 90% of the course prospects for you.

4

Never-Ending Opportunities in the USA

The USA is a land of dreams, and there are countless opportunities for aspirants to study there upon successful course completion.

5

No Income Proof Needed

We at GoStudy ensure you do not need any income proof to avail of the Non-collateral education loan for the USA and can get it simply based on your KYC.

6

Hassle-Free Sanction & Disbursal

Avoid all the hectic processes with an education loan for the USA without collateral through GoStudy and get an unsecured loan based on your profile.

7

Unique Education Loans

GoStudy offers education loans for the USA without collateral, judging your future prospects, not just your financial profile.

8

Priority Education Loans

Owing to 1000s of loans GoStudy helps with, our processing times are faster with multiple dedicated credit managers visiting various offices of GoStudy.

9

Minimal Interest Rates

You can access the lowest interest rates in the market with GoStudy’s specially curated loan offerings at 0.5% to 1% lower than market rates.


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Unsecured Education Loan for the USA through GoStudy

With the increase in interest among aspirants in pursuing personalized courses from their preferred universities throughout the globe, education loans have been an integral part of the process. Education loans are probably the wisest decisions students can make while choosing to study abroad, and GoStudy makes sure you have access to the funds at the right time. The USA has been one of the most preferred educational destinations for immense opportunities and massive future prospects.

Now, the problem while choosing to pursue studies at dream destinations abroad is the loan process. Most times, you are required to pledge any immovable property or assets to qualify for the loan. This is where most students back off. Here’s the catch. The best part is, you do not have to pledge any assets as collateral for an unsecured education loan for the USA through GoStudy. GoStudy has partnered with many NBFCs and banks that are ready to offer you an education loan for the USA without collateral through GoStudy. The expenses covered with these loans are comprehensive, ranging from Tuition fees to accommodation, traveling, fooding, hostel fees, and much more. You can easily opt for an education loan to study in the USA without collateral through GoStudy to cater to all your financial needs while you’re in the USA.

The aforementioned expenses are not the only ones you will face while studying in the USA. An Education loan for the USA without security through GoStudy can cover other costs such as gadget buying costs, shopping, books, and other miscellaneous travel costs before traveling or whilst in the USA.

Education Loan for USA Without Collateral
Education Loan for USA Without Collateral

Interest Rate For Education Loan To Study in the USA Without Collateral through GoStudy

Every financial lender or institution levies interest on the loan amount sanctioned, which is generally a percentage of money, including the principal amount. Interest rates are levied by the financial lenders against the disbursal of an Education Loan for the USA without Collateral through GoStudy, which was sanctioned to you for catering to your needs. The profile of the candidate, the co-applicant income ratio, and the credit score of the candidate can decide the rate of interest and eligibility for an education loan in the USA without security through GoStudy. Interest rates of an Unsecured education loan for the USA are always on the higher side compared to that of the interest rates for a secured loan. Nevertheless, GoStudy consultants make sure that you can acquire the most competitive interest rates for unsecured loans so that your dream of studying is not hampered. Our experts ensure that all your queries for an Education Loan for the USA Without Security through GoStudy are answered well and taken care of.

You can procure pretty flexible interest rates for a Non-Collateral Education Loan for the USA through GoStudy that can change periodically depending on the course attended and overall credit score. A simple interest rate with a monthly figure is used to calculate the interest rate for unsecured education loans.

Below is the interest rates the are offered for education loan for the USA 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% 9.25%
Unsecured Education Loan (Others) 11.75% 11.50%

Moreover, the below mathematical formula is improvised for determining the EMI based on the interest rate for Education Loan for the USA without Collateral 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 without collateral in the UK through GoStudy?

An education loan for the USA without collateral through GoStudy can cover all the major and miscellaneous expenses in the USA while you’re there. The expenses include tuition fees, accommodation, education costs, traveling, gadget buying, fooding, lab fees, and other education costs. The financial lenders ensure all expenses are taken care of, and you need not have to go through any financial crisis at any stage. Below is a list of costs that are covered by non-collateral education loans for the USA through GoStudy:

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

Usually, an aspirant can secure an Education Loan for the USA Without Collateral through GoStudy of up to 50 Lakhs for the majority of the universities in the USA. However, it is dependent on the choice of university, course attended, and prospective employability post-completion of the course.

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)

Non Collateral Education Loan for the USA Through GoStudy

You will have a perfect chance to qualify for an Unsecured Education Loan for the USA through GoStudy if your financial portfolio is sound and you have secured an admission offer letter from any top university. One other important criteria for an education loan for the USA without collateral through GoStudy is the course that you have chosen to study and the prospects of jobs upon successful completion of the education.

Unsecured Education Loans for the USA through GoStudy can reach up to the value of 50 lacs for course completion, but that depends on the individual requirements and portfolio of the student. The creditworthiness of a student in the case of a Non-Collateral Education Loan for the USA through GoStudy judges the possibility of sanction & disbursement. In this scenario, the higher and better your credit score is, the more you have a chance of acquiring an Education Loan Without Collateral for the USA through GoStudy.

The below list of documents is required for students to initiate the Non-Collateral Education Loan for the USA through GoStudy process:

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

The requirements or criteria for a Non-Collateral Education Loan for the USA through GoStudy may vary depending on the profile of the aspirant. But the best part is that the entire process is hassle-free, transparent, and completely smooth, with GoStudy’s and financial institutions’ representatives ensuring everything is taken care of.

Collateral For Education Loan In the USA through GoStudy

You do not have to go through any tedious or hectic process of collateral loans when you can easily qualify for a non-collateral education loan for the USA through GoStudy. However, to make it easier for you below is a list of collateral that you need for an education loan in the USA. Take a glance!

Any form of immovable property or assets that a financial lender accepts and is then pledged as a security against the disbursed loan is known as collateral. There are various types of assets. This kind of loan is referred to as a secured loan. If a student is not eligible for an Education Loan for the USA without Collateral through GoStudy, they may have to opt for this kind of secured loan. If a student is unable to qualify for an unsecured education loan for the USA through GoStudy, they can check for these documents, which are accepted as collateral loan documents:

  • 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 of the manager of the institution assigning it in favor of an education loan in the UK without collateral through GoStudy.
  • Surrender Value Certifications of Life Insurances 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 Unsecured Education Loan to Study in the USA through GoStudy

You can apply and qualify for unsecured education loans for the USA through GoStudy from several banks and NBFCs in India. The USA counts 40% of the top global universities across the globe where you can carry your study, and therefore, major financial institutions are keen enough to offer you the desired loan amount to fund your studies. More than 500,000+ students every year opt to study in the USA, and hence, you can find substantial numbers of lenders offering an Education Loan To Study in the USA Without Collateral through GoStudy. The below list of universities is pre-approved by multiple banks for an unsecured education loan to study in the USA through GoStudy.

List of Universities accepted by Education Loan through GoStudy

GoStudy’s Pre Approved Education Loan Amount

Syracuse University 60 Lakhs
George Washington University 65 Lakhs
New Jersey Institute of Technology 65 Lakhs
University of Florida 65 Lakhs

Co-applicant for the USA Education Loan Without Collateral through GoStudy

To successfully qualify for an unsecured education loan for the USA through GoStudy, keeping a co-applicant is very important at all times. Even though you have substantial assets, surplus funds, and a strong financial background, lenders will still ask for a co-applicant to sanction the loan. This is due to the reason that when the student is abroad for studies, they have no income sources, so a co-applicant will secure the funds lent. The main factors contributing to the successful creditworthiness of the co-applicant are their age, income ratio, relation to the applicant, and credit score.

In short words, co-applicants act as a form of security to the lenders wherein if the candidate is unable to repay back or default, they will be able to repay the loan on behalf of the applicant.

Below is the list of co-applicants for Non-Collateral Education Loan for the USA through GoStudy that is accepted:

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

Eligibility Criteria For Education Loan for the USA Without Security through GoStudy

Non-Collateral Education Loan for the USA through GoStudy comes with simple requirements and easy eligibility that anyone can understand. To qualify for the eligibility criteria for an unsecured education loan for the USA through GoStudy, you need to secure a firm/unconditional/confirmed offer letter from your preferred university in the USA. This proves that the student has qualified and met all the requirements successfully to get admission to their preferred university in the USA and that the offer cannot be revoked under any circumstances. Other requirements along with these for education loans without collateral for the USA through GoStudy 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 without collateral for the USA through GoStudy must be met.

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Documents required for Education Loan for the USA Without Collateral through GoStudy

USA Education Loan Without Collateral through GoStudy comes with a simple documentation process that may vary for students, but most of them remain the same. Our experts at GoStudy ensure everything is smooth, and the process seems flawless like a pie. Below documents required for an Education Loan Without Collateral for the USA through GoStudy 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

Other than the aforementioned list of documents, extra documentation may be needed depending on the sole discretion of the provider for a Non-Collateral Education Loan for the USA through GoStudy.

Process & Procedures For Unsecured Education Loans for the USA through GoStudy

Thousands of students every year fill out applications for an Education Loan To Study in the USA without collateral through GoStudy. The increasing demands have led to many opportunities and offers from different lenders providing Education Loans for the USA Without Collateral through GoStudy. Unsecured Education Loan for the USA through GoStudy comes with an easy application process which begins with the student applying for the loan amount, providing details of the education course, university details, and all other important details to the financial lender. A thorough identity of the lender is required to be provided to the institution.

After the first round, banks perform checks, after which they send you a detailed loan offer letter with the necessary list of documents required to sanction the loan. Education Loan To Study in the USA Without Collateral through GoStudy comes with a processing time of very short 5-7 days. When a detailed review is done and the agreement is signed, the loan-sanctioned amount will be sent via DD, cheque, or electronic account transfer.

Sanction & Disbursement of Education Loan Without Collateral for the USA through GoStudy

When the loan approval process is done, a detailed letter with the applicant details, co-applicant details, loan amount, Interest, tenure, EMI, moratorium period, guarantor (if any) details, university name, and course name is mentioned. It will also affirm all the agreed terms and conditions of the loan tenure. Universities accept a full-sanctioned letter instead of an in-principle letter, so you need to take note of that.

Post the sanction of the Education Loan for the USA Without Collateral through GoStudy; the sanctioned amount is disbursed to the account of the applicant/co-applicant or to the university account as tuition fees, depending on the terms agreed while signing the agreement. The amount is transferred in Indian National Rupee (INR), which can be part disbursement or full disbursement of the loan based on the protocols set between the lender and borrower.

Moratorium Period For Education Loan Without Collateral for the USA through GoStudy

The moratorium period is a tenure post the sanction of the loan where the candidate is not required to pay any EMI for the loan amount. Almost all banks & NBFCs offer a moratorium period for an unsecured education loan for the USA through GoStudy. Alternatively, one common practice is to start paying a basic simple interest against the loan until the education period is over and you are employed within a set frame of time. Hence, always understand the moratorium period and check it before proceeding with the loan.

Repayment for Education loan in the USA without collateral through GoStudy

The repayment period for an education loan in the USA without collateral through GoStudy is very easy, and you have the freedom to choose it in accordance with your convenience, which can generally be from 12 months to 180 months. You always have plenty of options to choose the period as per your convenience and feasibility. If your finances are weak, then the lender will decide the repayment period for you. The various types of repayment options for Non-Collateral Education Loan for the USA through GoStudy

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

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

In accordance with Section 80E of the IT Act, you can always claim an overall EMI deduction to be paid on an Education Loan for the USA Without Security through GoStudy for the specific financial year. You, your spouse, your children, or your legal guardian taking responsibility for the USA Education Loan Without Collateral through GoStudy can claim these benefits. The deduction is applicable to all the courses, and there is no cap on the number of tax benefits you can claim, but you must ensure the loan repayment is made within 8 years of interest repayment. Timely repayment makes you eligible for the tax 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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