The USA continues to be the top study destination for Indian students thanks to its world-renowned universities, cutting-edge research, and excellent career outcomes. In 2021–22 alone, 199,000+ Indian students chose the United States for higher education, highlighting its strong appeal.
However, with average international graduate tuition fees around USD 39,000 per year (excluding living expenses), financing your education smartly is crucial.
A study abroad loan for the USA not only covers tuition, living, insurance, and visa expenses it also serves as valid proof of funds for your US student visa. With PayStudy’s digital education loan platform, you can compare lenders, check eligibility instantly, and secure a low-interest overseas education loan faster.
There are two primary types of education loans for international universities in the USA:
A secured loan requires you to pledge collateral such as:
| Lender | Maximum Loan Amount | Interest Rate | Margin |
|---|---|---|---|
| SBI | Up to ₹1.5 Cr | ~10.65% (girls), ~11.50% (boys) | 10% |
| Union Bank of India | Up to ₹1.5 Cr | ~10.50% – 10.85% | 10%–15% |
A no-collateral education loan for USA is ideal if you do not have property or assets to pledge. Lenders include private banks, NBFCs, and international financing companies.
| Lender | Loan Amount | Interest Rate | Margin |
|---|---|---|---|
| Axis Bank | Up to ₹50L | 11% – 13.50% | 5% |
| ICICI Bank | Up to ₹50L | 10.85% – 12.50% | 0–15% |
| IDFC First | Up to ₹35L | 11.50% – 12.25% | Nil |
| Credila | Up to ₹65L | 11.25% – 13% | Nil |
| Auxilo | Up to ₹65L | 11.25% – 13% | Nil |
| InCred | Up to ₹60L | 12.25% – 14% | Nil |
| Avanse | Up to ₹75L | 12.50% – 13.50% | Nil |
| MPOWER | Up to $100,000 | ~12.99% (PG), ~13.99% (UG) | Nil |
| Prodigy | Up to $100,000 | ~12% – 14% | Nil |
PayStudy helps you compare interest rates, offers, and eligibility instantly so you choose the right lender.
Your study loan for the USA can cover:
You may choose full or partial disbursement, and interest is charged only on the disbursed amount.
To qualify for an education loan for top overseas colleges in the USA, you generally need:
Keep these ready for faster approval:
With PayStudy, receive a personalized checklist and upload documents online.
| Lender | Tenure | Moratorium | Repayment Type |
|---|---|---|---|
| SBI | Up to 15 years | No payment | Simple Interest |
| Union Bank | Up to 15 years | No payment | Simple Interest |
| Axis Bank | Up to 15 years | SI/EMI | EMI |
| ICICI | Up to 10 years | SI/EMI | EMI |
| IDFC First | Up to 12 years | PSI/SI/EMI | PSI/SI/EMI |
| Credila | Up to 15 years | PSI | PSI |
| Auxilo | Up to 15 years | SI | SI |
| InCred | Up to 15 years | PSI/SI | PSI/SI |
| Avanse | Up to 15 years | PSI/SI | PSI/SI |
| MPOWER | Up to 10 years | SI | SI |
| Prodigy | Up to 15 years | SI | SI |
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