How to Get an Education Loan for BSc Nursing in 2025

Pursuing a BSc Nursing course opens doors to a stable, respected, and high-impact healthcare career. But rising coaching fees, hostel costs, books, and exam expenses often create financial pressure for students and families. An education loan for BSc Nursing can bridge that gap — helping nursing students concentrate on learning, not loan stress.

In this 2025 guide, you’ll find everything you need to know: loan amounts, interest rates, eligibility, coverage, documents, application process, and smarter repayment planning.

Key Takeaways

BSc Nursing education loans typically range from ₹40 lakh to ₹1 crore or above, with higher limits for students in INC-approved nursing colleges and reputed private colleges.
An education loan for BSc Nursing covers tuition fees, hostel/mess charges, books, uniforms, medical kits, lab fees, exam fees, and living expenses.
Interest rates of student loans for nursing students start around 8% (secured) and can go up to 15–16% (unsecured) based on the student’s profile, college, and co-applicant income.
Repayment terms for nursing education loans offer 5–15 years of tenure plus a moratorium period (course duration + 6–12 months).
Typical approval for education loans for nursing students is within 2–10 days; however, NBFCs like Propelld provide fast, minimal documents, and smoother disbursal—ideal for both BSc Nursing and GNM Nursing.

BSc Nursing Education Loan Overview for India and Abroad

Getting an education loan for nursing students remains the most reliable way to fund tuition fees, hostel expenses, clinical training costs, and other academic needs; however, many applicants are often confused.

So, below is an updated overview of the key parameters you should know before applying for a BSc and GNM Nursing education loan:

Parameter	Details
Loan Amount	up to ₹40 lakh (without collateral); up to ₹2 crore with collateral
Expenses Covered	Tuition, exam fees, lab/clinical fees, hostel/PG, books, laptop, uniforms, medical insurance, travel (if studying abroad), and other academic essentials
Interest Rates	Banks: 8%–14%; NBFCs: 11%–16% (profile-based, flexible, faster approvals)
Co-applicant Requirement	Typically, a parent/guardian/spouse is mandatory for unsecured loans
Moratorium Period	Course duration + 6–12 months (varies by lender)
Repayment Tenure	10–12 years, including a moratorium; some lenders offer up to 15 years
Processing Fees	0%–2% of the loan amount; waived for some secured loans and strong profiles
Repayment Start	Begins only after the moratorium ends to allow students time to secure a job

Here’s a bonus tip: We can make your nursing education loans experience even better - we allow early prepayment with zero penalty, so nursing graduates can become debt-free sooner!

‍

Get Education Loan 10X Faster than Banks.

‍

BSc Nursing Education Loan ‍‍Interest Rates in 2025

The education loan for BSc Nursing interest rates typically range from 8% to 16% per annum. However, many government banks also require a 5–15% margin; some private banks and NBFCs like Propelld offer 0% margin money feature.

Here are the BSc Nursing education loan interest rates across major banks and NBFCs:

Lender	Interest Rate (per annum)
SBI (State Bank of India)	7.15% onwards
Bank of Baroda	8.55% onwards
PNB (Punjab National Bank)	8.75% onwards
Canara Bank	8.65% onwards
Axis Bank	11% onwards
ICICI Bank	10.75% onwards
IDFC FIRST Bank	10.75% onwards
Propelld	11% – 16% (profile-based)

Points to Remember:

APR may differ from the mentioned interest rates depending on fees, processing charges, and insurance. For exact education loan interest rates and slabs, check our APR and interest rate policy.
Female applicants can get a 0.5% girl-student concession on BSc Nursing student loans offered by several banks.
Collateral-backed loans always have lower interest rates than collateral-free loans. However, we provide non-collateral loans starting at just 11%; see our transparency policy.

BSc Nursing Education Loan Eligibility Criteria

Student loans for nursing students is not available for everyone; applicants must meet specific eligibility criteria set by different lenders. Here are the common requirements:

Student Eligibility

Indian citizen
Passed 10+2 (PCB/related stream)
Admitted into a recognised BSc Nursing/ GNMe Nursing program
Institutes must offer UGC, Govt., AICTE, AIBMS, and CMR accreditation recognised by relevant bodies (INC/State Nursing Councils).

Co-applicant

Parent/guardian/spouse/sibling
Stable income (salaried or self-employed)
Clean banking history

Collateral (If Required)

Not required up to certain limits (typically ₹7.5–10 lakh)
Property, FD, or LIC policy is acceptable for larger loans

Before applying, nursing students should check the education loan eligibility criteria in detail, including academic qualifications, course type, and recognised institutions.

BSc Nursing ‍Education Loan Documents Checklist

In order to apply for an education loan, you must fill out certain sets of both educational and personal documents. The standard checklist of documents for an education loan for nursing students includes:

Application Documents

Filled loan application form
Passport-size photographs
Aadhaar Card, PAN Card
Address proof (utility bill/voter ID/rental agreement/passport)

Academic Documents

Admission/offer letter from the educational institute
Course fee structure
10th & 12th mark sheets
Entrance exam results (IELTS/TOEFL/GRE, if applicable)
Gap certificate (if applicable)
Work experience letter (if relevant)

Financial Documents (Co-applicant Mandatory for Unsecured Loans)

If Salaried

Last 3 months’ salary slips
6 months’ bank statements
Form 16 (last 2 years)
Company ID proof
ITR (last 2 years)

If Self-Employed

ITR (last 3 years)
6 months’ bank statements
Balance Sheet and P&L (last 3 years)
Business proof and business address proof

Additional (if applicable)

Co-applicant declaration/responsibility letter
Prior fee payment receipts (if paid)

Property documents (title deed, tax receipts)
Encumbrance Certificate (EC)
Valuation report (as required by lender)

‍

Minimal Docs, Maximum Approval - Apply Now

‍

How to Apply for Education Loan for BSc Nursing Students?

Applying for a BSc Nursing education loan is simple, and you can choose either the online or offline method based on your convenience.

Online Process

Offline Process

Online Process (Fastest for Nursing Students)

Most banks, NBFCs, and digital lenders now offer a fully online journey.

Visit the lender’s official website and select “Education Loan”
Fill in student, co-applicant, and course details.
Complete KYC and upload all required documents.
The lender verifies your application and issues the sanction letter.
After approval, the loan amount is disbursed directly to your nursing college as per the fee structure.

Offline Process (For Students Who Prefer In-Person Support)

You can also apply at the nearest branch of your preferred bank/NBFC.

Collect the education loan application form from the branch.
Fill in all personal, academic, and financial details accurately.
Submit hard copies of required documents.
Attend any verification meeting or follow-up call if requested.
Receive the sanction letter, after which the lender sends the approved amount directly to your institute.

NBFCs like Propelld have elevated education loan service standards by providing much faster approvals (often within 24–72 hours), making them ideal for students facing urgent fee deadlines.

Now, let us understand about the types of loans you can apply for.

Secured vs Unsecured Nursing Education Loans

Choosing between a secured and an unsecured loan is one of the biggest decisions for students, as it directly affects approval chances, interest rates, and how quickly funds are disbursed. Here’s a quick overview to help you decide:

Feature	Unsecured (No Collateral)	Secured (With Collateral)
Loan Amount	₹10–₹40 lakh	₹1–₹2 crore
Collateral Requirement	Not required	Property/asset required
Interest Rate	Higher than secured loans	Lower, due to reduced lender risk
Best For	BSc Nursing programs with moderate fees	High-fee colleges or study-abroad nursing courses
Processing Speed	Faster approval	Slightly longer due to property evaluation

‍People Also Ask

1. Can I get a ₹40 lakh nursing education loan without collateral?

Yes, but only in exceptional cases — mainly for degree-level nursing programs (BSc/MSc Nursing) with a strong co-applicant profile, excellent academics, and a high-ranking institution. Most banks/NBFCs cap unsecured loans at ₹7.5–₹10 lakh.

2. Can I get a GNM nursing education loan of ₹40 lakh (unsecured)?

No. Diploma courses like GNM are not eligible for high-value unsecured loans. Lenders prefer degree programs with clearer earning potential.

3. How much co-applicant income is required for an unsecured nursing student loan?

There’s no minimum income slab; however, lenders generally expect a stable income with strong repayment capacity and a clean credit history from the co-applicant.

4. Do lenders provide unsecured loans for studying nursing abroad?

Yes, but it is mainly for BSc/MSc Nursing from reputed universities. High-value loans depend on various factors, including institution ranking and co-applicant income strength.

Evaluate different lenders, including NBFCs known for offering loans without collateral, in our comprehensive NBFC education loan blog.

‍

No ITR? Small Shop Owner? We’ve Got You Covered

‍

Education Loan for BSc Nursing Repayment Process

Moratorium Period: Most nursing student loan lenders offer a moratorium covering the entire program duration, plus 6–12 months after course completion. However, loan repayment does not start immediately, giving students time to find a job. You can read the strategies and benefits of the moratorium period in this guide.
EMI After Employment: Once the moratorium ends, EMI begins based on your total nursing education loan amount, interest rates, and the chosen tenure. Applicants can negotiate for lower EMIs by extending the tenure or offering partial prepayments to reduce the interest burden. For easy and quick EMI calculation, you can use an online education loan EMI calculator.
Repayment Tenure: Most banks allow repayment up to 8–10 years, while NBFCs allow up to 10–12 years. Also, student-focused lenders like Propelld have a flexible repayment policy available.

Since you’ve understood almost everything about the education loan for BSc Nursing, you should also know other schemes and scholarships that can help you in funding your education.

‍Government Schemes and Scholarships for BSc Nursing Students

We have compiled a list of popular BSc Nursing schemes and scholarships awarded based on financial need, academic performance, specific categories, or course/region eligibility, etc. Check them below:

1. Vidya Lakshmi Portal Schemes

A single-window platform where nursing students can apply for multiple government-backed education loans at once.

2. CSIS (Central Sector Interest Subsidy Scheme)

Provides full interest subsidy during the moratorium period for eligible students from low-income families.

3. State Nursing Scholarships (State Health Departments)

Many states offer annual nursing scholarships covering tuition and study materials for top-performing students.

4. Kishore Vaigyanik Protsahan Yojana

It is available for science students entering nursing and provides financial assistance to meritorious science students pursuing programs like BSc Nursing.

5. NSFDC and NBCFDC Education Loans

Offers low-interest loans for nursing students belonging to the SC/OBC/EBC candidates pursuing BSc or GNM Nursing.

6. Post-Matric Scholarship (NSP Portal)

Covers tuition, hostel, and exam fees for eligible SC/ST/OBC/EWS nursing students at recognised institutions.

7. PM-YASASVI Scholarship

Merit-based scholarship for economically disadvantaged students, including those entering nursing programs.

8. INSPIRE Scholarship (DST)

Supports high-ranking science stream students entering BSc degrees, including BSc Nursing.

If you don’t qualify for a government scheme or scholarship, don’t lose heart. You can always go for Propelld’s collateral-free education loans tailored to your needs!

Benefits of Getting Education Loan for BSc Nursing

1. Full Fee Coverage (Tuition + Additional Costs)

To guarantee that all facets of education are financially supported, education loans cover not only tuition but also other costs like computers, travel for study abroad programs, and more.

2. Large Loan Amount Options

Depending on their educational demands, students can borrow different amounts from lenders. Degree programs can qualify for ₹25–₹40 lakh (with a strong co-applicant) and ₹7.5 lakh unsecured nursing education loans.

3. Flexible Repayment Tenure

Borrowers get 8–12 years to repay, depending on lender policies. However, Propelld offers tailored repayment based on institution and student profile.

4. Lower Upfront Burden

Students usually get a 6-month grace period following course completion before beginning the repayment process. This grace period relieves parents as they don't need to liquidate assets early; students can pay after employment. Further, you can also read the best strategies for loan repayment for better financial planning.

Are you parent of a JEE/NEET aspirant?

Join the group and get latest updates, expert advice on counselling and college selection. Completely FREE!

Join Now!

FAQs on Education Loan for BSc Nursing

Can I get an education loan for BSc Nursing?

Yes, many banks and financial institutions offer education loans for BSc Nursing programs. These loans typically cover tuition, examination fees, and related expenses. However, eligibility criteria and loan terms may vary between lenders.

What are the eligibility criteria for a BSc Nursing education loan?

Eligibility usually includes admission to a recognised nursing college, academic merit, and a co-applicant with a stable income.

How much loan can I get for BSc Nursing?

Students can generally get ₹4–₹40 lakh without collateral and up to ₹1 crore with collateral, depending on various factors.

Do I need collateral for a BSc Nursing education loan?

Collateral is not required for smaller loan amounts (usually up to ₹7.5 lakh), but higher amounts may need security.

What expenses are covered under a BSc Nursing education loan?

Tuition fees, exam fees, hostel charges, books, equipment, uniforms, and other academic expenses.

What is the interest rate for BSc Nursing education loans?

Interest rates typically range from 8% to 14%, depending on the bank and type of loan.

Is there a moratorium period for nursing education loans?

Yes, most lenders offer a moratorium covering the course duration + 6–12 months after completion.

Can I apply for a BSc nursing loan without cosigners?

A co-borrower is mandatory in most cases. It can be a parent, guardian, or close relative.

Can I get a loan if I’m joining a private nursing college?

Yes, as long as the college is recognised by the INC/State Nursing Council.

Are there any subsidies available for nursing students?

Yes, eligible students can avail of government interest subsidy schemes like the Central Sector Interest Subsidy (CSIS) and many more, as mentioned in this blog.

Can I get an education loan with a low credit score?

A low score can affect approval, but strong academic merit and a reliable co-borrower improve chances.

Can I apply for a BSc Nursing loan online?

Absolutely. Most banks and NBFCs now offer fully online or hybrid online-offline applications.

When do I start repaying the loan?

Repayment starts after the moratorium period, usually 6–12 months after completing the course.

What is the typical repayment tenure?

Repayment terms often extend from 5 to 15 years, depending on lender policies.

Can I prepay the education loan?

Yes, prepayment is allowed, and many lenders do not charge prepayment penalties.

Will the bank pay the college directly?

Yes, loan disbursements are generally made straight to the institution.

Can I take a loan if I’m studying abroad for BSc Nursing?

Some banks finance overseas nursing programs, but eligibility criteria differ.

Can I get an education loan for a distance or online BSc Nursing?

Most banks only fund regular full-time courses, but a few lenders may support certain accredited distance programs.

What happens to my nursing loan if I don’t get a job after graduation?

You must still repay the loan after the moratorium, but banks may offer extensions or restructuring in genuine hardship cases.

Are there any special scholarships for nursing students?

Yes, several government and private scholarships exist for BSc Nursing, lowering the loan requirement.

Can a BSc nursing co-applicant be retired?

Yes, retired individuals can be co-borrowers if they show pension income or sufficient assets.

Do banks offer top-up loans during the course?

Yes, students can request a top-up if the course fees rise or if additional expenses occur.

Will my nursing student loan be rejected if my parents don’t have strong income?

Not necessarily. Collateral, guarantors, or NBFCs may offer alternatives.

Can I transfer my education loan to another bank later?

Yes, you can transfer (takeover) your loan for better interest rates.

Can I avail tax benefits on a BSC Nursing education loan?

Yes, under Section 80E, interest paid on the loan is tax-deductible.

How to Get an Education Loan for BSc Nursing (2025 Guide)

Get Your Education Funded

Table of Contents

Apply Education Loan