Study in Spain with Hassle-Free Overseas Education Loans

Spain is fast emerging as a dynamic study destination for Indian students, with vibrant startup hubs in Madrid and Barcelona, a strong tradition of innovation, and excellent academic programs. If you’re wondering “Can I finance studying in Spain?”, the answer is yes and a right-fit education loan can make this exciting journey possible.

At PayStudy, we offer access to low-interest overseas education loans, no-collateral education loans for abroad studies, and fast digital applications through the best study abroad loan platform. Whether you need a student loan for studying abroad, an education loan for top overseas colleges, or simply want fast approval overseas education loan, we’ve got you covered.

Cost of Studying in Spain

Cost of Living (Monthly Estimate)

• Accommodation: €600 – €800
• Food: €125 – €130
• Transportation: €150 – €200
• Utilities: €300 – €350

Overall, living in Spain is approx. 20% cheaper than many other European destinations, but even so securing the right education loan for studying in Spain is a smart move.

Loan Options for Spain

Secured Education Loans (With Collateral)

Ideal when you can offer property, FD or insurance as security. These are often used when you want large loan amounts at favourable rates. For example:

• Lender: SBI — Up to ₹1.5 Cr, Rates ~10.15% (girls) / ~10.65% (boys), Margin: 10%
• Lender: UBI — Up to ₹1 Cr, Rate ~9.25%-9.75%, Margin: 10% (listed uni) / 15% (non-listed)

No Collateral Education Loans for Abroad Studies (Unsecured)

For students without collateral, this is the key option. You’ll typically require a co-applicant, good academic/admission record, and solid repayment prospects. Examples:

• Axis Bank — up to ₹50 Lakhs, Rate ~10.90%-12.50%, Margin: 5%
• ICICI Bank — up to ₹50 Lakhs, Rate ~10.50%-12.50%, Margin: 0-15%
• IDFC FIRST — up to ₹35 Lakhs, Rate ~10.75%-12.25%, Margin: Nil

Using PayStudy’s digital education loan platform, you can compare these offers side-by-side and pick what suits your profile and Spain destination best.

What an Education Loan for Spain Covers

Your student loan can cover all major cost heads:

• Tuition & registration fees
• Accommodation & living expenses
• International travel & student visa charges
• Books, laptop & project materials
• Study tours, lab charges, parking etc.
• Miscellaneous expenses for completing your full-time program in Spain

Designed for students without assets to pledge. These options rely more on academic merit, co-applicant’s income and credit. With PayStudy, you’ll find the best lenders offering student loan for studying abroad with minimal security hassles.

Eligibility Criteria

To apply for a student loan for Spain you must generally meet:

• Indian citizenship, age ≥ 18 years
• Admission/Offer letter from a recognised Spanish university
• Strong academic record
• For unsecured loans: co-applicant with adequate income & credit
• For secured loans: collateral in acceptable form

Documents Required

• Signed admission letter / offer
• Cost/schedule of studies document
• Filled loan application form
• Identification proof & residence proof
• PAN card of applicant
• Co-applicant bank statements (6-12 months)
• Collateral property documents (if applicable)
• Statement of assets & liabilities

How PayStudy Helps You

By choosing PayStudy you get:

• Access to major banks & NBFCs offering education loan for international universities
• Transparent comparison for fast approval overseas education loan
• Dedicated loan counselling for Indian students going to Spain
• A digital education loan platform where you apply, track & manage documents online
• Clear process for eligibility, application, sanction and disbursement, so you focus on your Spain study plan, not loan hassles

Ready to Start Your Spain Study Journey?

Your dream of studying in Spain deserves the right finance solution. With PayStudy you can secure a low-interest overseas education loan, no collateral education loan for abroad studies, and find the best-fit lender with fast processing.