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List of Approved Foreign Universities for Abroad Education Loan

Namrata Sukhtankar
April 29, 2024
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Last Updated: October 22, 2024

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It takes some time for banks to approve student loans for specific universities, and the approval is quicker for some universities. Did you ever wonder why? Banks have a list of approved foreign universities for education loans that are reputed and recognised by UGC, HEIs, IAO, etc. Hence, most of the banks have mentioned in their eligibility requirements that the student should have an admission letter from a recognised and approved university. This blog will take you through all those universities so you can choose which one to apply for!

Approved Foreign Universities For Education Loan

In India, many banks only provide education loans to approved universities. These lists can also be found on the websites of those banks. Hence, you should check and stay current on whether your university is approved and recognised by the bank where you’re applying. Here’s a list of all the major study-abroad universities:

List Of Approved Universities In The USA

The number of US universities offering world-class education to students is around 985. Most top universities in the USA have a student-to-teacher ratio of 16 to 1. The average annual tuition fee for an international student is $50,000. This is why taking an education loan is the most convenient option. Many banks offer collateral-free education loans, too. Below are some of the top universities in the US.

Universities	QS World Rankings
Massachusetts Institute of Technology (MIT)	1
Harvard University	4
Stanford University	5
University of California (Berkley, Davis, San Diego, Los Angeles, Santa Barbara, Irvine, Santa Cruz, Riverside)	Berkeley- 10, Los Angeles- 29, San Diego- 62, Santa Barbara- 163, Irvine- 268, Santa Cruz- 332, Riverside- 404
California Institute of Technology	15
Princeton University	17
The Yale University	16
The University of Chicago	11
University of Illinois-Chicago	323
Johns Hopkins University	28
The University of Pennsylvania	12
Columbia University	23
The University of Michigan	33
Duke University	57
The University of Washington	63
Cornell University	13
Northwestern University	47
New York University (NYU)	38
Georgia Institute of Technology	97
Brown University	73
University of Minnesota	195
University of Southern California	116
Ohio State University	151
Pennsylvania State University	83
The University of Pittsburgh	222
Rice University	145
Boston University	93
Georgetown University	297
Dartmouth University	237
Michigan State University	136
The University of Virginia	260
North Eastern University	375
University of Washington, St. Louis	154

List Of Approved Universities In The UK

Over 55,000 Indian students study in the UK. Studying abroad in the UK is undoubtedly the most popular option globally. There are about 160 best universities here. The majority of them are approved by Indian banks and NBFCs. Given below are the approved list of universities in the UK:

Universities	QS World Rankings
The University of Oxford	3
Imperial College London	6
University of Cambridge	2
University of Sussex	218
University of Warwick	67
University of Birmingham	84
University College London	–
The University of Nottingham	100
The University of Liverpool	176
The University of Manchester	32
London School of Economics (LSE)	45
University of St. Andrews	95
The University of Southampton	81
The University of Edinburgh	22
The University of Exeter	153
Lancaster University	122
Durham University	78
Cardiff University	154
The University of Sheffield	104
King’s College London	40
The University of Leeds	75
The University of the Bristol	55
The University of York	167
University of East Anglia	295
Queen Mary University, London	145
The University of Dundee	441
The University of Glasgow	76
The University of Leicester	272
The University of Aberdeen	208
The University of Reading	169
Newcastle University	110

List Of Approved Universities In Australia

Australia’s universities have students from around the world if you plan to study there. Nationalised banks and NBFCs of the nation offer education loans to Indian students to help them get into these universities. There are some great Australian scholarships for Indian students at some of these universities in Australia.

Universities	QS World Rankings
Australian National University	34
The University of Queensland	43
Monash University	42
The University of Sydney	19
The University of Adelaide	89
University of New South Wales	19
University of Western Australia	72
The University of Melbourne	14

List Of Approved Universities For Education Loan In Canada

There are a lot of high-quality educational and research opportunities in Canada. Over 155 universities and colleges are available to international students here. Given below is a list of approved universities in Canada for education loans.

Universities	QS World Rankings
The University of Toronto	21
The University of Alberta	111
The University of British Columbia	34
McMaster University	189
The University of Montreal	141
McGill University 410	30
The University of Calgary	182
The University of Waterloo	112

List Of Approved Universities In Germany

Studying at the following German universities is the right choice if you want to become an outstanding leader, scholar, scientist, or artist. International students in Germany can benefit from blacked accounts to manage their finances. Here is the approved list of universities in Germany:

Universities	QS World Rankings
Ludwig-Maximilians-Universität (LUM) Munich	54
Humboldt University of Berlin	120
Technical University of Berlin	154
Heidelberg University	87
The University of Bonn	239
Technical University of Munich	37
Rheinisch Westfälische Hochschule (RWTH) Aachen University	106
Free University of Berlin	98
University of Würzburg	440
University of Erlangen-Nuremberg	229
University of Tübingen	213
Technische Universität (TU) Dresden	246
University of Göttingen	232
Karlsruhe Institute of Technology	119
University of Mannheim	454
The University of Hamburg	205
The University of Münster	384
The University of Cologne	268
The University of Konstanz	478
University of Duisburg-Essen	771-780

List Of Approved Universities For Education Loans In New Zealand

In New Zealand, there are eight public universities. According to the Ministry of External Affairs of India, 2,664 Indian students studied in New Zealand in 2022. You can borrow secured and unsecured education loans from New Zealand. Given below is the list of foreign universities in New Zealand:

University	QS World Ranking 2024
The University of Auckland	#68
The University of Otago	#206
Massey University	#239
Victoria University of Wellington	#241
The University of Waikato	#250
The University of Canterbury ( Te Whare Wananga o Waitaha)	#256
Lincoln University	#362
Auckland University of Technology (AUT)	#407

List Of Approved Universities In Ireland For Education Loan

Students worldwide love studying abroad in Ireland because it’s an English-speaking country. There are about 30 top universities in Ireland for higher education. Studying in Ireland is cheaper than in the USA or the UK. Because of that, Ireland is an excellent place for international students to study abroad.

Top Universities in Ireland	QS World Ranking 2024
Trinity College Dublin, The University of Dublin	81
University College Dublin	171
RCSI University of Medicine and Health Sciences	NA
University of Galway	289
University College Cork	292
University of Limerick	426
Dublin City University	436
Maynooth University	801-850
Technological University Dublin	851-900

List Of Approved Universities In France For Education Loan

More than 400,000 international students are currently studying in France, which is the highest growth in 15 years. Emmanuel Macron announced that by 2030, France will accept 30,000 Indian students at its universities as part of a major initiative to strengthen educational ties between the two countries. There are many top-approved universities in France for Indian students. Go through the list below:

University Name	QS World Rankings 2024	THE Ranking 2023-24
University PSL	#24	#40
Institute Polytechnique de Paris	#38	#71
Sorbonne University	#59	#75
University Paris – Saclay	#71	#58
Ecole Normale Superieure de Lyon	#184	#251-300
Ecole des Ponts ParisTech	#192	#401-500
University of Paris City	#236	#152
University Grenoble Alpes	#294	#301-350
Sciences Po	#319	#501-600
University Paris 1 Pantheon – Sorbonne	#328	#801-1000

Bank & NBFCs Offering Education Loans For Abroad Universities

Many banks and NBFCs offer education loans for universities abroad and have a list of universities they approve of. Given below is a list of these top banks and NBFCs you can refer to:

Banks Offering Education Loans To Study In Abroad Universities
Bank Name	Loan Amount	Interest Rates	Processing Fees
Union Bank	INR 1.5 Cr.	9.5-10.5%	1-2% of the loan amount
ICICI Bank student loan	INR 1.5 Cr.	10-12.5%	2% + GST
Axis Bank student loan	INR 2.5 Cr.	9.9-12%	0.75% on sanctioned loan amount
IDFC First Bank	INR 1.5 Cr	9.5-12.75%	Up to 1.5% of the loan amount.
NBFCs Offering Education Loans To Study In Abroad Universities
NBFC Name	Loan Amount	Interest Rates	Processing Fees
HDFC Credila	INR 2 Cr.	9.75-12%	0.75-1% to 1% GST
Avanse	INR 1.5 Cr.	10.50-13%	1-2% of the loan amount
InCred	INR 25 Lakhs	11.5-13%	–

Education Loan Eligibility Criteria For Abroad Universities

There are a few specific things you must keep in mind with regard to universities while studying abroad. These factors might seem minor but never go unnoticed while taking an education loan from the list of approved foreign universities. Here they are:

1) Applicants taking education loans from only recognised and accredited universities by UGC, HEIs, IAO, etc. are granted student loans

2) Applicants must have an admission letter from these universities.

3) A fee structure or brochure from the university as proof of financial need.

I hope this blog gave you an overview of the list of universities and banks and the eligibility for studying abroad. For more information, visit UniCreds, your guide for education loans!

FAQs

1. Can I get a 100% loan to study abroad?

Yes, if you have a great credit score, you can get a 100% loan to study abroad from the top banks and NBFCs.

2. What criteria do banks use to approve foreign universities for education loans?

Banks require you to get an admission letter from accredited universities, along with the fee brochure and entrance exam results required for admission.