Education Loan For Study In France

France, along with many other English-speaking countries has become a popular choice for studying abroad in recent years. Nowadays, a lot of people decide to continue their further student loan in France. It can be extremely expensive if you plan on moving to France as an international student, and the hardest part of studying in the country is the expenses incurred while living there. A student's ability to organise their finances is one of the most important aspects to consider while planning their budget. Many banks and non-banking institutions in India have made it easier for students to achieve their study abroad dream through a student loan in France with low-interest rates. The process to get a student loan for international students in France has ameliorated over the years making it hassle-free for students.

Taking out a student loan involves a lot of different factors that you must consider before applying. Knowing whether a student is eligible for a loan is the first step to acquiring an education loan. Once students have made the decision to take out an education loan, it is crucial to review the eligibility conditions. The following requirements must be met in order to be eligible for a student loan in France in India:
 
1. The applicant must be an Indian citizen.
2. The student must possess a degree from a recognised Indian university or high school.
3. The student must have been admitted to one of the universities in France recognised by the bank.
4. The student must be at least 18 years of age.
5. Full-time students must have a co-applicant, who may be either a parent, a guardian, a spouse or a parent-in-law (for married applicants).
 

Your ability to organise your finances is one of the most important aspects of the process. Various banks, Non-Banking Financial Companies (NBFCs), and foreign lenders have recognised this crucial situation and responded by providing student loans for international students in France to individuals wishing to study in the country. UniCreds offers students a list of various documents required to complete their procedure for an international student loan in France. All the documents are based on the student's profile and the profile of their co-applicant, and any property or asset they may give as collateral. However, below are some of the documents that international students in France must have in order to secure a loan.
 
1. KYC Documents: Aadhar card, PAN card, Passport
2. Academic Documents: Certificates, marksheet of S.S.C & H.S.C, degree courses, copy of admission letter of the Institute along with fees schedule, documents of qualifying exams (GRE, IELTS, etc).
3. Financial Documents: Statements of borrowers' bank accounts, one-year statement of the bank, guarantor’s income proof.
 

A student loan helps in subsiding expenses while studying abroad. The cost of studying in France varies according to the level of the programme chosen, as well as from university to university. Public universities and private universities are the two types of universities available to international students in France. This decision heavily influences how much overseas students must pay as tuition fees in France.
Private Universities: They can be found all around France. The majority of these private institutions are business schools and provide a variety of courses in the business field. Private university tuition in France is expensive and differentiates depending on the institution. The average tuition fees for each course per year can range anywhere from:
Bachelors: € 11,500 - € 21,400
Masters: € 22,700 - € 28,600
Doctorate: € 10,500 - € 32,000
Public Universities: The government in France pays the majority of public university tuition expenses, making it more affordable for students to enrol in courses there. International and domestic students of Europe pay the same tuition rates at most public universities. The average tuition fees for each course per year are:
License: € 2,770
Masters: € 3,770
Doctorate: € 380

Most of the time a student's education loan to study in France pays for all of their expenses while living there. This could alter based on the university selected, type of degree programme and living choices. Here are some examples of what a student loan in France can be used for:
 
1. Tuition fees (if any).
2. Accommodation (on-campus or off-campus).
3. Exam, library, and laboratory fees.
4. Books, stationery, travel expenses, uniforms.
5. Miscellaneous expenses such as study tours, thesis, project work, etc.
 

There are two types of education loans in France. Each loan varies based on the type of security the student promises.
Secured Education Loans: Candidates for these loans must pledge specified types of assets as collateral security for their college loans. Government or public banks are some of India's largest lenders of secured international education loans. For individuals wishing to borrow a student loan in France, secured loans are one of the most advantageous education loan schemes.
Unsecured Education Loans: Candidates for unsecured education loans are not required to put up any security. The majority of unsecured education loans are provided by private, non-banking organisations known as NBFCs (Non-Banking Finance Companies). These loans are typically taken out by students who do not have any assets that may be used as collateral.

Numerous educational loans are available from hundreds of lenders for each and every student. When presented with a multitude of options, students tend to get confused about which loan they should pick. The search for a perfect loan could be a tedious task. Hence, beginning research early can eliminate these difficulties faced while applying for an education loan in France. In addition to that, here are some tips to make the process easier:
 
1. Verify the processing costs for your loan carefully.
2. In order to compare loans, consider the amount of available income tax exemptions.
3. Check the loan margin before applying for a loan.
4. Be mindful of how long it takes to process a loan.
5. Examine the loan repayment conditions in detail.
6. Select a longer term so you may schedule your repayments in advance.
7. Apply for a loan at least 3 months prior to your scheduled visa interview.
 

UniCreds makes securing education loans easier than any other platform. Here are a few reasons why UniCreds is the best choice for a student loan in France:
 
1. Up to 100% assistance that covers tuition and living expenses
2. No Margin Money
3. In the event of an emergency or unique demand, swift sanctions are warranted.
4. Financing solutions tailored to your needs
5. A comparison of student loans
6. Tracking of loan applications
7. Loans with no collateral
8. Services delivered right to your door
9. Approvals of loans without the use of paper
 

Here are some top universities in France for international students and their World University Ranking 2023.
France Rank 2023
            World University Rank 2023
University
1
47
Paris Sciences et Lettres – PSL Research University Paris
2
90
Sorbonne University
3
93
Université Paris-Saclay
4
=95
Institut Polytechnique de Paris
5
=114
Université Paris Cité
6
251–300
École des Ponts ParisTech
=7
301–350
Aix-Marseille University
=7
301–350
University of Bordeaux
=7
301–350
École Normale Supérieure de Lyon
=7
301–350
Montpellier University
	

To study in France, you must be over 18 years of age. The type of visa you will require will depend on the duration of your course:
Requirements
Details
Age
Over 18 years old
Visa Type
Depends on the duration of the course: short-stay or long-stay
Passport
Valid passport and copies of previous visas, if any
Letter of Acceptance/Enrollment
Official letter from the university in France
Financial Resources
Evidence of sufficient monetary means to cover all expenses
Airline Ticket
Air flight reservation or ticket with the date of departure
Health Insurance
Medical insurance with coverage of around 30,000 Euros yearly
Accommodation
Documents that state the arrangement for accommodation
Language Proficiency
If enrolled in a French course, proficiency certificate required
Visa Fees
Evidence of payment of visa fees
Civil Status (if applicable)
Proof of civil status, if applicable
	

France is a popular destination for international students not only for its world renowned universities but also for the kind of courses it offers. Some of the most popular courses to study in France are listed below. 
Business
Linguistics
Medicine
International Relations
Culinary Studies
Film Studies