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List of Approved Foreign Universities for Education Loan

List of Approved Foreign Universities for Education Loan

 

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. 

 

UniversitiesQS World Rankings
Massachusetts Institute of Technology (MIT)1
Harvard University4
Stanford University5
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 Technology15
Princeton University17
The Yale University16
The University of Chicago11
University of Illinois-Chicago323
Johns Hopkins University28
The University of Pennsylvania12
Columbia University23
The University of Michigan33
Duke University57
The University of Washington63
Cornell University13
Northwestern University47
New York University (NYU)38
Georgia Institute of Technology97
Brown University73
University of Minnesota195
University of Southern California116
Ohio State University151
Pennsylvania State University83
The University of Pittsburgh222
Rice University145
Boston University93
Georgetown University297
Dartmouth University237
Michigan State University136
The University of Virginia260
North Eastern University375
University of Washington, St. Louis154

 

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: 

 

UniversitiesQS World Rankings
The University of Oxford3
Imperial College London6
University of Cambridge2
University of Sussex218
University of Warwick67
University of Birmingham84
University College London
The University of Nottingham100
The University of Liverpool176
The University of Manchester32
London School of Economics (LSE) 45
University of St. Andrews95
The University of Southampton81
The University of Edinburgh22
The University of Exeter153
Lancaster University122
Durham University78
Cardiff University154
The University of Sheffield104
King’s College London40
The University of Leeds75
The University of the Bristol55
The University of York167
University of East Anglia295
Queen Mary University, London145
The University of Dundee441
The University of Glasgow76
The University of Leicester272
The University of Aberdeen208
The University of Reading169
Newcastle University110

 

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.

 

UniversitiesQS World Rankings
Australian National University34
The University of Queensland43
Monash University42
The University of Sydney19
The University of Adelaide89
University of New South Wales 19
University of Western Australia72
The University of Melbourne14

 

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. 

 

UniversitiesQS World Rankings
The University of Toronto21
The University of Alberta111
The University of British Columbia34
McMaster University189
The University of Montreal141
McGill University 41030
The University of Calgary182
The University of Waterloo112

 

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:  

 

UniversitiesQS World Rankings
Ludwig-Maximilians-Universität (LUM) Munich54
Humboldt University of Berlin120
Technical University of Berlin154
Heidelberg University87
The University of Bonn239
Technical University of Munich37
Rheinisch Westfälische Hochschule (RWTH) Aachen University106
Free University of Berlin98
University of Würzburg440
University of Erlangen-Nuremberg229
University of Tübingen213
Technische Universität (TU) Dresden 246
University of Göttingen232
Karlsruhe Institute of Technology119
University of Mannheim454
The University of Hamburg205
The University of Münster384
The University of Cologne268
The University of Konstanz478
University of Duisburg-Essen771-780

 

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: 

 

UniversityQS 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 IrelandQS World Ranking 2024
Trinity College Dublin, The University of Dublin81
University College Dublin171
RCSI University of Medicine and Health SciencesNA
University of Galway289
University College Cork292
University of Limerick426
Dublin City University436
Maynooth University801-850
Technological University Dublin851-900

 

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 NameQS World Rankings 2024THE 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 NameLoan AmountInterest RatesProcessing Fees
Union BankINR 1.5 Cr. 9.5-10.5%1-2% of the loan amount
ICICI Bank student loanINR 1.5 Cr. 10-12.5%2% + GST
Axis Bank student loanINR 2.5 Cr. 9.9-12%0.75% on sanctioned loan amount
IDFC First BankINR 1.5 Cr9.5-12.75%Up to 1.5% of the loan amount. 
NBFCs Offering Education Loans To Study In Abroad Universities
NBFC NameLoan AmountInterest RatesProcessing Fees
HDFC CredilaINR 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
InCredINR 25 Lakhs11.5-13%

 

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  

 

Q1. 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. 

 

Q2. 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. 

 

Q3. Are there any specific countries where banks prefer to approve universities for education loans? 

Banks approve education loans in many countries, including the US, UK, France, Germany, Ireland, etc. 

 

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List of Approved Foreign Universities for Education Loan

List of Approved Foreign Universities for Education Loan

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