This forum is to help India understand their education loan better with expert advice.
You can get a loan for an MBA by following these steps:
For reference, Education Loans for MBA typically cover tuition, living expenses, exam fees, and travel (for abroad programs), with repayment starting after course completion plus a moratorium of 6–12 months.
You can cancel your loan approval before the disbursement stage by following these steps:
Note: Once the loan amount is disbursed, you cannot cancel it — instead, you must prepay or foreclose it as per the lender’s repayment terms.
Yes, you can apply for an education loan to pursue MS in Obstetrics and Gynaecology in a private medical college. Indian banks offer loans for postgraduate medical courses, and the loan amount can go up to 40 lakhs or more, depending on the institution. For higher amounts, collateral will likely be required. You will need to submit proof of admission, a fee structure, and co-applicant financial documents. Compare banks to find the best interest rates and repayment terms. Some banks may also offer moratorium periods during which you don’t have to make repayments.
In most cases, failing a subject will not stop loan disbursement, but it depends on the bank's policy. Some banks require students to maintain a minimum academic performance, while others may continue to disburse the loan if you are still enrolled in the course. You should inform the bank and explain your situation. If you can demonstrate that you are progressing in your course, the bank is likely to disburse the loan for the next semester. Be sure to check the specific terms of your loan agreement.
A no-collateral education loan allows students to borrow without pledging property or assets. Approval depends on the borrower’s academic merit, institution reputation, and co-applicant’s financial profile.
Most public sector banks in India, like SBI and Bank of Baroda, offer up to ₹7.5 lakh under the IBA Model Education Loan Scheme without collateral. For higher amounts, private banks and NBFCs assess profiles individually and may extend unsecured loans up to ₹40 lakh or more.
You’ll need confirmed admission to a recognized institution, KYC and income documents, and a financially stable co-applicant. Fintech lenders such as Propelld also provide flexible no-collateral loans based on course quality and repayment capability.
In summary, a strong academic record, good co-applicant credit, and admission to an approved institution significantly improve your chances of getting a no-collateral education loan.
You can cancel your loan approval before the disbursement stage by following these steps:
Note: Once the loan amount is disbursed, you cannot cancel it — instead, you must prepay or foreclose it as per the lender’s repayment terms.
Yes, students with a family income below ₹5 lakh are generally eligible for government and institutional scholarships such as the Central Sector, Post-Matric, or state merit-cum-means schemes. These can cover 50%–100% of tuition fees depending on merit and category. If awarded a full scholarship, you’ll only pay non-tuition charges like hostel or exam fees. For partial coverage, the remaining tuition can be managed personally or through an education loan from a bank or NBFC such as Propelld.
Education loan eligibility in India is based on the applicant’s academic profile, chosen course, and co-applicant’s financial stability.
General Eligibility:
Citizenship: The applicant must be an Indian citizen.
Admission: Confirmed admission to a recognized course in India or abroad through merit or entrance exam.
Academics: Consistent academic record meeting the institution’s requirements.
Co-applicant: A parent, guardian, or relative with steady income and good credit history.
Loan Amount:
Up to ₹7.5 lakh – usually collateral-free.
Above ₹7.5 lakh – may require collateral or a guarantor.
Courses Covered: Professional, technical, and management programs such as engineering, medicine, dentistry, and business studies.
Fintech lenders like Propelld also provide flexible, collateral-free education loans for recognized programs based on student and co-applicant profiles.