Easy way to find your
Loan Provider in Russia

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Secured LoanUpto ₹1Cr

Processing Fee ₹12K

Prepayment Charges Nil

Living Cost No

Unsecured Loan Nil

Margin 10%

Loan Tenure Upto 15 Years

Early Repayment Yes

Overview Of An Education Loan In Russia

In today's world, many students prefer to further their education in Russia. Russia, like many other English-speaking countries, has become a popular study abroad destination in recent years. There are several options for students looking for English-taught universities in Russia. Also there are ways in which you can get aid with your education loan for Russia. You will have access to world-class educational facilities, including universities with a strong research foundation.

Universities we recommend for you in Russia:

- Lomonosov Moscow State University (MSU)
- National Research University - Higher School of Economics (HSE)
- Peter the Great St. Petersburg Polytechnic University (SPbPU)

Cost to Study Abroad in Russia

If you enrol directly, the cost of studying abroad in Russia could be quite low. While living costs will be higher in metropolitan cities, unique locations around the country will provide exhilarating and unique experiences at a lower cost. Students, on the other hand, do not need to be concerned about the cost because obtaining an education loan for Russia will assist you in managing and running all of your expenses. The info below provides an estimate of the tuition costs for various levels of study in Russia:

- Between 1,475–10,600 EUR/year for Bachelor's degrees 
- Between 1,770–5,540 EUR/year for Master's degrees 
- Between 1,475–7,600 EUR/year for Specialist's degrees (degrees with a more practical focus, awarded after at least 5 years of study, such as Medical degrees) 
- Between 950–5,000 EUR/year for PhD degrees

Student Loan Russia

Russia is one of the most economical study abroad locations, which is one of the key reasons for the annual influx of over 300,000 international students. Education loans for Russia are easy to obtain through UniCreds. Your capacity to organise your finances is one of the most important aspects of the entire process. Various banks, NBFCs, and foreign lenders have recognised this problem and responded by providing student loans in Germany to overseas students who aspire to study there.

Procedure to apply for student loan Russia

This is the process you must follow to request for an education loan for Russia. International students planning to study in Russia with the help of a student loan should start the application process at least 6-7 months before the start of their programme. A step-by-step approach to applying for a student loan is provided below:

- Examine the banks in Russia that provide overseas education loans, as well as their eligibility and documentation requirements.
- Calculate how much money you'll need to study in Russia in total.
- Obtain an acceptance letter from a certain Russian university's admissions office.
- To study in Russia, you should research the numerous loan options available from various banks and select the one that best matches your needs.
- You'll need to fill out the loan application form after you've chosen a bank and a loan amount.
- Documents such as identity, admission letter security, and collateral documents, among others, should be submitted.
- The bank will give you a loan document to sign after your loan has been approved.
- After you sign your loan agreement, the bank will pay you the agreed-upon amount.

Documents required for study loan Russia

UniCreds provides students with a list of documents based only on their profile and that of their co-applicant, as well as any property or asset they may pledge as collateral. However, below are some of the necessary paperwork for obtaining a student loan in Russia.

KYC Documents: Aadhar Card, PAN Card, and Passport

Academic Documents: Certificates, S.S.C. and H.S.C. Marksheets, Degree Courses, Copy of Institute Admission Letter with Fees Schedule, Qualifying test documents (GRE, IELTS, etc)

Financial Documents: Statements from the borrower's bank accounts, a bank's one-year statement, and a guarantor's proof of income

Things that education loan for Russia covers

In most cases, a student's education loan to study in Russia covers the entire cost of their education in Russia. This varies depending on the university and degree programme chosen. Here are some of the things that a student loan in Russia covers:

- Fees Payable
- Accommodation (On-campus or Off-campus)
- Exam, library, and laboratory fees
- Books, Stationery, Travel expenses, Uniforms (if any)
- Other expenses such as study tours, thesis, and project work

Types of Loans available for Study Abroad Russia

A education loan for Russia is divided into two types based on the level of protection the candidate is willing to provide.

Secured Loans: Applicants for secured education loans must promise specific kinds of assets as security or collateral for their educational loans. Some of India's biggest lenders of secured overseas education loans are government or public banks. Secured loans are one of the most favourable school loan plans for individuals looking to obtain a student loan to study in Russia.

Unsecured Education Loans: Applicants for unsecured education loans do not have to put up any collateral. NBFCs, or non-banking financial institutions, supply the majority of unsecured education loans (Non-Banking Finance Companies). These loans are often taken out by students who do not have any assets with which to secure a loan.

Tips for Choosing the Best Education Abroad

Hundreds of banks provide a diversity of education loans for international studies. It's like looking for a needle in a haystack when it comes to getting the right education among hundreds of possibilities. This is why you should begin your study well ahead of time so that you have enough time to consider all of the possibilities available. Besides that, there are a few more factors to consider while selecting an education loan for Russia or any other country as a matter of fact:

1. Calculate The Loan Amount:

Before you begin the application procedure for an education loan, you must first determine the loan amount. You must decide whether you want a loan that encompasses the entire expense of your tuition or a loan that covers only a portion of the cost and requires you to pay the remainder out of pocket.

2. Interest Rates Research:

Should be researched because lenders charge varying rates based on your profile, loan tenure, collateral, and other criteria. Finding the lowest interest rate on a student loan may not necessarily be the best decision for you. So do your homework on interest rates and other terms and conditions that apply to a student loan.

3. Choose a longer repayment term:

By choosing a longer amortisation term, you are effectively extending out your EMIs over a prolonged period of time. This will make it much easier for you to pay back the loan in a stress-free manner. However, if you have adequate resources, opting for a loan with a relatively short term can save you a significant amount of money.

4. Approach banks that have been certified:

If you take out an education loan from a government-approved bank, you can save money on your taxes. Section 80E of the Income Tax Act allows applicants to claim a reduction for interest paid on a bank-issued school loan.

5. Keep A Record Of Extra Spending:

Tuition will account for a large portion of your school costs. Apart from that, other charges such as on-site or off-site lodging, transportation costs, books, library fees, and courseware can add up quickly. When calculating the amount of your student loan, factor in the cost of these extras.

Why Choose UniCreds?

UniCreds makes securing college loans easier than any other platform. Here are a few reasons why UniCreds is the greatest alternative for receiving an education loan for Russia:

- Up to 100 % assistance that covers tuition and living expenses
- There is no money on the margin.
- In the event of an emergency or unique demand, swift sanctions are necessary.
- Financing solutions tailored to your needs
- A comparison of student loans
- Tracking of loan applications
- Loans with no collateral
- Services delivered right to your door
- Approvals of loans without the use of paper or any documentation