France is set to become a prime destination for Indian students, with around 8,000 currently enrolled and the French government targeting 30,000 by 2030. Affordable tuition, high academic standards, and vibrant culture are big draws. However, managing expenses often requires an education loan to study in France. Let’s walk through the key details, costs, loan types, documentation, leading lenders, and how Propelld makes the process smooth.
Below, we will explore everything you need to know about financing your studies in France, including costs, loan options, required documents, and lender comparisons.
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Cost of Studying in France for Indian Students
France is relatively cost-effective, but the costs can vary depending on the type of university and city. Here is a quick overview:
Altogether, Indian students should budget anywhere between ₹10 lakh and ₹25 lakh per year, depending on their choice of institution and city.
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If this is your starting point, our guide can help you learn more about studying abroad after 12th, including universities and more.
Secured Education Loan for France
A secured education loan requires collateral such as residential/commercial property, fixed deposits, or insurance policies. These loans come with lower interest rates, higher sanction amounts, and longer repayment flexibility.
Key Features
- Interest Rate: ~9.5% – 11% p.a.
- Loan Amount: Up to ₹1.5 crore (depending on collateral value)
- Repayment Tenure: Up to 15 years
- Processing Time: 2–4 weeks
Banks Offering Secured Loans
- State Bank of India (SBI): Up to ₹1.5 crore under the SBI Global Ed-Vantage scheme
- Punjab National Bank (PNB): Up to ₹1 crore with competitive interest rates
- Bank of Baroda (BoB): Up to ₹1.5 crore with flexible repayment and subsidy options
- Canara Bank: Up to ₹1.5 crore with government-backed interest subsidy eligibility
Best suited for families with strong collateral who want lower EMIs and government subsidy schemes.
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Unsecured Education Loan for France
If you don’t have collateral, an unsecured education loan is the alternative. These loans are quicker to process but come with higher interest rates and stricter eligibility checks.
Key Features
- Interest Rate: ~11% – 13.5% p.a.
- Loan Amount: Up to ₹50 lakh (banks), ~₹20–25 lakh (NBFCs)
- Repayment Tenure: Up to 10 years
- Processing Time: 1–2 weeks
Banks & NBFCs Offering Unsecured Loans
- ICICI Bank: Up to ₹50 lakh, faster approvals for students admitted to top French universities
- Axis Bank: Up to ₹50 lakh, flexible repayment options
- HDFC Credila (NBFC): Tailor-made unsecured loans up to ₹20–25 lakh
- Avanse Financial Services (NBFC): Flexible funding up to ₹20–25 lakh with faster disbursement
Best for students without collateral but with a strong academic/admission profile.
If you’re still unsure about the right option, our guide on Secured vs Unsecured Education Loans can give a clear picture.
Documents Required for France Education Loan
Proper documentation is essential for loan approval. Students applying for an education loan to study in France must typically provide:
- An admission letter from the French university.
- Completed loan application form.
- Proof of identity (PAN card, Aadhaar, or passport).
- Proof of residence (utility bill, Aadhaar, or passport).
- Academic records and entrance test results.
- Statement of course expenses, including tuition and living costs.
- Bank statements, salary slips, and ITRs of the applicant or co-applicant.
- Collateral documents are required if applying for a secured loan.
Ensuring that all documents are in order helps speed up processing time and reduces the chances of rejection.
Steps to Apply Study Abroad Loan for France
1. Estimate Your Funding Requirement
- Calculate tuition, living, visa, and insurance costs.
- Prepare a yearly and total budget.
2. Choose Loan Type
- Secured: lower interest, higher amount, needs collateral.
- Unsecured: faster, no collateral, higher interest.
3. Compare Lenders
- Public banks → secured loans.
- Private banks & NBFCs → unsecured loans.
- International lenders → foreign currency loans.
- Digital facilitators (e.g., fintech platforms) simplify applications.
4. Prepare Documentation
- Admission letter, ID/residence proofs, financial & collateral documents.
- Ensure the co-applicant’s income proofs are ready.
5. Submit Application
- Apply online or at a branch.
- Some platforms let you apply digitally with multiple lenders at once.
6. Loan Processing & Approval
- Lender verifies documents and credit history.
- Processing takes 1–4 weeks.
7. Loan Sanction & Disbursement
- Sanction letter issued after approval.
- Tuition paid directly to the university; living costs released to student in parts.
What Reddit Users Say About Education Loan for France
Reddit User in r/StudentLoans shared:
“Regarding education loans for studying abroad in France. I got an admission letter from ISEP France (IEMDP Program). Is it possible to get the loan without collateral and co-signer? I don't have the collateral and cosigner to proceed.”
Insight:
This highlights one of the most common challenges Indian students face when applying for an education loan to study in France — the lack of collateral or a co-applicant. While public banks in India often require both, private banks, NBFCs, and international lenders like Prodigy Finance and MPower Finance are more flexible.
What Do We Infer?
- Secured education loan for France is best for students with strong collateral, as it offers lower interest rates and higher amounts.
- Unsecured education loan for France is possible even without collateral or co-signer, but usually comes with higher interest rates and lower loan limits.
- International lenders provide a great option for students without Indian financial backing, since they assess eligibility based on admission to reputed universities.
Tip:
If you don’t have collateral or a co-signer, compare unsecured loans from NBFCs (Avanse, HDFC Credila, InCred) and international lenders (Prodigy, MPower). These lenders often cater to students in exactly this situation. Always calculate your repayment using realistic interest rates to avoid surprises later.
Best Lenders for France Education Loan
Students have several choices when it comes to lenders. Each type of lender caters to a different need:
- Public Banks (SBI, Union Bank, Bank of Baroda): Best suited for secured loans with high amounts and low interest rates.
- Private Banks (ICICI Bank, Axis Bank, IDFC First): Faster disbursal and flexibility, ideal for unsecured loans.
- NBFCs (HDFC Credila, Avanse, InCred): Flexible eligibility requirements and tailored products for study-abroad programs.
Choosing the right lender depends on your financial profile, collateral availability, and repayment capacity.
For a more detailed understanding, read our comprehensive guide on education loans without collateral for studying abroad.
France offers excellent opportunities for Indian students, but tuition fees, living costs, and other expenses make financing a key part of planning. An education loan to study in France ensures that you can focus on academics without financial stress. With options for both secured and unsecured loans, students can find solutions tailored to their needs.
If you want to avoid lengthy paperwork and delays, Propelld can help you secure an education loan faster, with flexible repayment plans designed for students studying abroad. Propelld simplifies the process and ensures you get access to the right financing at the right time.
Apply with Propelld today and make your dream of studying in France a reality.
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