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Education Loan for Italy 2025

Education Loan for Italy: A Comprehensive Guide

Written By
Vaishali Pandey
&
Reviewed By
Victor Senapaty
Updated On:
Sep 1, 2025
|
5
mins read
Vaishali Pandey
Updated On:
Sep 1, 2025

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Italy is home to some of the oldest universities in the world, like the University of Bologna, Sapienza University of Rome, and the University of Padua. Along with its globally recognised degrees and more affordable tuition compared to many other European countries, it has been drawing the attention of Indian students. 

A recent report projects a significant 22.2% growth in Indian student enrollments in Italy from 2023 to 2025, with a staggering 540.9% rise expected by 2030.

In this article, you will explore everything you need to know about securing an education loan for Italy, including eligibility, application processes, and repayment options.

By the end of this blog, you will know

  • Rising Popularity: Italy is witnessing a 22.2% projected growth in Indian student enrollments between 2023 and 2025.
  • Affordable Tuition: Public university fees range from €900 – €4,000 (₹80k – ₹3.5L) annually, while private universities charge €6,000 – €20,000 (₹5.3L – ₹17.5L).
  • Living Costs: Average monthly student expenses are €700 – €1,200 (₹62k – ₹1.07L), with Milan and Rome being the most expensive cities.
  • Loan Availability: Indian banks and NBFCs offer secured and unsecured loans for Italy, with interest rates starting at around 9.5%.

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Top Universities in Italy

Italy is home to some of the world's oldest and most prestigious universities. The top two universities for international students are Politecnico di Milano, which is ranked #98 globally, and Sapienza University of Rome, ranked #128 globally. 

Here are some of the top-ranked institutions that Indian students can consider, along with their annual tuition fees.

University Name

Tuition Fee (EUR)

Tuition Fee (INR)

Politecnico di Milano

€900 – €4,000 /year

₹82,800 – ₹368,000 /year

Sapienza University of Rome

€2,931 – €3,042 /year

₹269,652 – ₹279,864 /year

University of Bologna

€2,710 – €43,118 /year

₹249,320 – ₹3,966,856 /year

University of Padua

€2,636 – €2,710 /year

₹242,512 – ₹249,320 /year

University of Rome Tor Vergata

€1,040 – €5,198 /year

₹95,680 – ₹478,216 /year

Planning to study overseas but worried about finances? Don’t miss our detailed guide on how to get an education loan for abroad studies in 2024.

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Types of Education Loans for Italy

Various types of education loans are available, each catering to different needs and circumstances. The primary types are secured and unsecured education loans.

Secured Education Loan for Italy

Secured education loans require collateral to guarantee the loan amount. This collateral can be property, fixed deposits, or other assets. Interest rates on secured loans are often lower than those on unsecured loans because the loan is backed by collateral. Public banks in India, like SBI and Union Bank of India, are major providers of secured education loans.

Best Banks for Education Loan in Italy

Maximum Loan Amount (approx.)

Interest Rate (p.a.)

State Bank of India

Up to ₹1.5 Crores

10.65 - 11.15%

Union Bank of India

Up to ₹1 Crore

9.80% to 10.80%

 

Unsecured Education Loan for Italy

If you do not have collateral, you can opt for an unsecured education loan for Italy from private banks or Non-Banking Financial Companies (NBFCs). These loans are based on the borrower’s creditworthiness and the co-signer's financial profile. For instance, Axis Bank offers education loans up to INR75 lakhs for studies abroad.

Lender Name

Maximum Loan Amount (approx.)

Interest Rate (p.a.)

Axis Bank

Up to ₹75 Lakhs

11.5% to 12.5%

ICICI Bank 

Up to ₹1 Crore

REPO* + 3.75% onwards

Propelld

Up to ₹50 Lakhs

12.99% onwards

IDFC FIRST Bank

- Up to INR 75 lakhs (without collateral)

- Up to 1.5 Cr (with collateral)

9.5% onwards

Thinking of applying for an instant loan in Italy? Don’t forget to check the co-applicant criteria. Our guide on Who Can Be a Co-Applicant for an Education Loan breaks down the eligibility and documents you’ll need.

Repayment of Study Loan for Italy

Most education loans come with a moratorium period, during which you are not required to make repayments. This period usually covers the duration of your studies and extends for a few months after graduation, typically 6 to 12 months. This grace period allows you to find employment before your repayment schedule begins.

The repayment period typically begins after the moratorium ends and can range from 5 to 15 years, depending on the loan amount and the lender’s policies.

Education Loan for Italy: Tax Benefits

The interest on education loans is tax-deductible under Section 80E of the Income Tax Act in India. This deduction can be claimed for eight consecutive years, starting from the year you begin repaying the interest on the loan. This benefit can significantly reduce your total tax obligation.

Education Loan for Italy: How to Apply?

Here’s a step-by-step overview of the process involved in securing an international education loan for Italy.

Research Loan Options

Start by researching various education loan options. Look into loans offered by public banks, private lenders, and specialised financial institutions (NBFCs).

Check Eligibility Criteria

Confirm that you and your co-applicant meet the eligibility criteria for the loan, including academic requirements and financial stability.

Submit Loan Application

Complete and submit your loan application either online or through a branch. Ensure all necessary documentation is accurate to prevent delays.

Loan Processing and Approval

The lender will assess your application and supporting documents. This process can take a few weeks. Once approved, you’ll receive a loan offer detailing the amount, interest rate, and repayment terms.

Disbursement of Funds

The lender will disburse the funds directly to your Italian institution or to you, depending on the loan terms.

Can Education Loans Be Used as Proof for an Italian Student Visa? Reddit Insights

Getting an education loan approved for studying in Italy is one thing, but ensuring it works as valid proof of funds for your student visa is another crucial step. Students often face confusion about whether a sanction letter alone is enough or if additional financial documents are required.

Reddit User in r/Indians_StudyAbroad shared:

"Does an education loan fully fulfil the financial requirements shown for a student visa? For example, will the embassy accept the sanction letter and loan disbursement plan, or do I need to show extra funds in my account?"

Insight: An education loan sanction letter is generally accepted as proof of funds for an Italian student visa. However, consulates may also expect applicants to show a small amount of liquid balance in their bank account. Keeping around ₹2–3 lakhs accessible alongside the sanction letter helps strengthen the application and avoid last-minute visa hurdles.

What do we infer from the above case?

The Italian embassy considers education loans valid proof of financial capacity if students can show:

  • A sanctioned loan letter and disbursement schedule from the bank.
  • Additional liquid funds in their or their co-applicant’s account for living expenses.
  • Proper supporting documents such as bank statements, fee structure, and admission letter.

Tip: Along with your loan sanction letter, carry updated bank statements showing available funds. This reassures the visa officer and ensures you have a financial buffer when you land in Italy.

Cost of Studying in Italy for Indian Students

Understanding the financial commitment is the first step toward securing an education loan. The overall cost of studying in Italy can be broken down into two main components: tuition fees and living expenses.

Cost of Education

The cost of tuition in Italy is one of its major attractions. Public universities are far more affordable than private institutions. Here's a table highlighting the average annual tuition fees for international students in Italy.

University Type

Average Annual Tuition Fee (EUR)

Approximate Annual Tuition Fee (INR)

Public University

€900 to €4,000

₹80,000 to ₹3.5 Lakhs

Private University

€6,000 to €20,000

₹5.3 Lakhs to ₹17.5 Lakhs

 

Now that you have a clear idea of the estimated tuition fees, let’s look at the associated living costs, which are an essential aspect of your overall expenses.

Cost of Living

The cost of living in Italy varies widely depending on the city and your lifestyle choices. Cities in the north, like Milan and Rome, are more expensive, while smaller cities like Pisa and Turin offer more affordable options.

Here’s a table with a breakdown of the estimated average monthly cost of living for Indian students in Italy.

Elements

Cost Range (EUR)

Cost Range (INR)

Accommodation (Student Accommodation/Shared Rent)

€250 – €300 /month

₹23,000 – ₹27,600 /month

Food

€400 – €450 /month

₹36,800 – ₹41,400 /month

Utilities

€247 /month

₹22,724 /month

Transportation Cost

€25 – €30 /month

₹2,300 – ₹2,760 /month

Books and Study Material

€30 – €50 /month

₹2,760 – ₹4,600 /month

Health Insurance

€120 /year

₹11,040 /year

Flight Charges

€1,017 – €1,191

₹93,564 – ₹109,572

Student Visa (D visa)

€116

₹10,672

 

Expenses Covered Under Education Loans for Italy

Education loans for Italy usually cover a wide range of academic and living expenses, such as:

  • Examination fees
  • Books, study materials, or a laptop
  • Admission and tuition fees
  • Hostel or other accommodation charges
  • Food and daily living expenses
  • Travel expenses (including airfare to Italy)
  • Health insurance premiums
  • Miscellaneous academic and personal costs

Education Loan Eligibility for Italy

Securing a student loan in Italy requires meeting specific eligibility criteria set by lenders in India. These loans are generally designed to cover tuition fees, living expenses, and other related costs. Here’s an overview of the study loan for Italy eligibility requirements:

  • Applicant must be a resident of India and at least 18 years of age
  • Must hold an admission/offer letter from a recognised Italian university
  • Should have completed schooling or a bachelor’s degree from a reputed Indian institute with a strong academic record
  • May be required to appear for an English language proficiency test (IELTS, PTE, etc.)
  • A co-applicant/guarantor with good financial standing is usually mandatory

Documents Required for Education Loan in Italy

Here’s a list of the documents typically required:

Loan application form, filled and signed by the applicant

Proof of admission/offer letter from a recognised Italian university (conditional acceptance also valid)

Academic records – 10th, 12th, undergraduate transcripts, and entrance exam results (IELTS/TOEFL/GRE/GMAT, etc.)

Identity proof of applicant and co-applicant – PAN, Passport, Driving Licence, or Voter ID

Address proof – Aadhaar card or recent utility bills (telephone, electricity, water, gas)

Visa documents (if already issued)

Statement of expenses showing course and living cost breakdown

Bank account statements – 6 months for student and co-applicant

Loan account statement (last 1 year, if any existing loan)

Passport-size photographs – two each of applicant and co-applicant

Collateral/property papers (only if applying for a secured loan)

For salaried co-applicant/guarantor:

  • Last 3 months’ salary slips
  • Salary account statement (past 6 months)
  • Form 16 for the previous 2 years
  • Assets & liabilities declaration

For self-employed co-applicant/guarantor:

  • Business address proof
  • IT returns for the last 2 years (if IT payee)
  • Bank account statement for 6 months
  • TDS certificate (Form 16A, if applicable)
  • Qualification certificate (CA/Doctor/Professional)
  • Assets & liabilities declaration

If you’re looking for education loan options that don’t require collateral, do check out our detailed guide on Banks That Give Education Loans without Collateral for Abroad.

Minimal Docs, Maximum Approval - Apply Now.

How to Choose the Best Education Loan Option for Italy?

In order to make the best loan choice for your needs, it's critical to comprehend the factors that may affect your decision.

Assess Your Financial Needs

Calculate the total cost of your education, including tuition fees, living expenses, travel costs, and other miscellaneous expenses. This will give you a clear idea of the loan amount you need.

Compare Interest Rates

The interest rates on student loans can be either fixed or variable. A fixed-rate loan offers predictable monthly payments, while a variable-rate loan may offer lower initial rates but could increase over time.

Evaluate Loan Repayment Terms

Look at the length of the repayment period and the moratorium period. A longer repayment term may result in lower monthly payments but a higher total interest paid.

Understand Additional Costs

Be aware of any additional costs such as processing fees, administrative charges, or prepayment penalties. These can add to the overall cost of borrowing.

Securing an education loan for Italy can be a game-changer in achieving your dream of studying abroad. By carefully evaluating your financial needs, comparing interest rates, and understanding the repayment terms and additional costs, you can choose the right loan option.

Ready to begin on your Canadian education journey? Propelld has you covered with personalised education loans that fit your unique needs. Propelld offers fast digital approvals, study loans of up to ₹50 lakhs, and the ease of zero-collateral requirements. 

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FAQs About Education Loan for Italy

What is the process for getting a study loan in Italy?

To get a study loan for Italy, you need to research loan options, check eligibility criteria, submit a loan application with the required documents, and wait for loan processing and approval. Once approved, the lender will disburse the funds.

What are the requirements for a study loan for Italy?

The study loan for Italy requirements typically include an admission letter from the Italian educational institution, KYC documents for the applicant and co-applicant, academic transcripts, and proof of income and financials.

How can I get a study loan for Italy with a low interest rate?

To get a study loan for Italy with a low interest rate, you can compare rates from different lenders, consider a secured loan with collateral, or apply with a co-signer who has a strong financial profile and a good credit score.

What is the maximum loan amount for a study loan for Italy?

The maximum loan amount for a study loan for Italy varies from lender to lender, but it can range from ₹50 lakhs to ₹1.5 crores, depending on whether you opt for a secured or unsecured loan.

What is the repayment period for a study loan for Italy?

The repayment period for a study loan for Italy typically ranges from 5 to 15 years, depending on the loan amount and the lender's policies.

Can I get a study loan for Italy without collateral?

Yes, you can get a study loan for Italy without collateral from private banks or NBFCs, but the interest rates may be higher compared to secured loans.

What are the tax benefits of a study loan for Italy?

You can claim a tax deduction for the interest paid on an education loan under Section 80E of the Indian Income Tax Act. This deduction is available for up to eight consecutive years.

Can I use a study loan for Italy to cover living expenses?

Yes, an education loan for Italy can be used to cover various living expenses, including accommodation, food, travel, and other miscellaneous costs.

What is the typical processing time for an education loan for Italy?

The processing time varies depending on the lender and the type of loan. Public banks typically take a longer time, often 2-4 weeks, while NBFCs like Propelld usually disburse the loan within 2-7 days.

How to choose the best study loan for Italy?

To choose the best study loan, you should assess your financial needs, compare interest rates and repayment terms from different lenders, and consider the flexibility and additional costs associated with the loan.

Are there any scholarships available for Indian students in Italy that can help reduce my loan amount?

Yes, many Italian universities and regional governments offer a variety of scholarships for international students, which can significantly reduce your financial burden. Some notable options include the Italian Government Scholarship, EDISU Piemonte Scholarship, and the University of Bologna's Study Grants for International Students.

Does the education loan cover my visa and flight charges?

Yes, most education loans for Italy cover a comprehensive list of expenses beyond just tuition fees. This can include visa application fees, one-time flight charges to Italy, and health insurance, along with living expenses, books, and study materials.

Vaishali Pandey
Content Marketer
Check out full profile

A banker turned content marketer with expertise in growth-focused content strategies for the finance and digital sectors.  She currently drives data-backed content initiatives at Propelld, through high-impact storytelling.

Before moving into content marketing, Vaishali spent nearly a decade in banking, across their asset and lending divisions and spent almost a decade in finance. An MBA in Marketing and a writer at heart, she finally took up content marketing and now simplifies money talks for the readers.

She is also a certified digital marketer (MICA), combining data-driven insights with creative storytelling to deliver measurable business growth.

Beyond work, Vaishali is a handcrafted brand founder, avid reader, and travel & food blogger, blending creativity and strategy in everything she does.

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Victor Senapaty
Co Founder, Propelld
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Victor Senapaty is the Co-Founder of Propelld, a pioneering fintech platform revolutionizing education financing in India. An IIT Madras and FMS Delhi alumnus, Victor brings a rare blend of investment banking expertise, startup leadership, and financial innovation to the education lending space.

He is a serial entrepreneur with ventures spanning edtech, hyperlocal commerce, and consumer experiences, and an ex-Deutsche Bank investment banker with deep expertise in financial modeling, valuation, and strategic growth. At Propelld, Victor focuses on unlocking financial access for students by creating future-potential-based lending models, helping thousands pursue higher education without traditional credit barriers.

A National Maths Olympiad gold medalist, FRM Level 1 certified professional, an avid traveler and football enthusiast, Victor is passionate about building products that meaningfully impact lives and transform access to education in India.

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