How to Get Education Loan Easily?

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This is a question that looms in every higher education aspirant's mind when they seek funding for higher education. The education loan process in India can be very confusing for first-timers who have no idea about the phases involved. There are numerous lenders who promise borrowers that they can get education loans easily. However, it is only when you actually begin the process that you get to know how complex it can be. WeMakeScholars has been facilitating an easy education loan process for thousands of students since 2014 and has been successful at doing so.

So if you are looking to get an education loan easily, approaching WeMakeScholars will help you with the entire procedure. This article aims to help you understand the different phases in which you can avail of our team's help to get an education loan easily.

Relaying the Right Information

The WeMakeScholars team has always focused on providing the correct information about education loans to candidates.  This is one of the primary reasons why our candidates have been able to obtain their higher education loans without a lot of hassles. From the time a candidate requests a callback to the day of their sanction, our financial officers communicate information regarding each and every phase of the abroad education loan process, to our candidates.

Collection of Documents

Documentation is one of the most crucial and confusing stages in an abroad education loan process. One of the most common reasons why the education loan applications of candidates get rejected is incorrect documentation. In order to get an education loan easily, it is important to have a thorough knowledge of the list of documents. When you approach WeMakeScholars, you allow our team to take over this part of the process. WeMakeScholars has a dedicated team of professionals who would help you put all the relevant documents together and submit them to your lender. 

If you are concerned about getting the right documents in order to get an education loan easily, get in touch with the financial team at the earliest possible instance.

Your education is a journey and we're here to help you pave the way with our expert support in securing a loan

Tracking Your Application to Get Education Loan Easily

The abroad education loan process government bank loans can get stressful if you do not possess the right information about the steps involved.  After you submit your education loan application, the file goes through a lot of scrutiny before it is finally sanctioned. One of the biggest problems faced by students when they directly approach lenders for an education loan is that they are not given ample information about the process. This makes it all the more difficult for the other candidates to know the status of their files at any particular time.

Due to their long-standing association with a lot of government banks, the financial team of WeMakeScholars has direct access to information regarding the status of our candidates' files. This makes it possible for you to get an education loan easily. The WeMakeScholars team helps ease your concerns by informing you about how your file is being processed because they remain in constant touch with your lender from the time your document is submitted until the day of your sanction. Request a callback with our team to get a detailed analysis of your profile to get an education loan easily.

Read more about Finding the Right Education Loan Scheme: Unsecured Education Loans 

Get Your Education Loan Sanction in Time

When you include the WeMakeScholars team in your journey to obtain an abroad studies education loan, you sign up for utmost transparency whether it is regarding the status of your application or the date of your sanction. One of the major reasons why thousands of students allow us to be part of their education loan journey is the fact that no matter what the circumstances, the financial team always ensures that your education loan is sanctioned at the right time. When it comes to higher education funding, time is of the essence and our team understands and abides by this philosophy to the tee. 

Also, read about MS in US: Types of Collateral Security For Student Loans in India

One on One Interaction

One of the best parts about beginning your abroad education loan process with our help is the amount of access that get to avail. Higher education aspirants who had previously approached lenders directly can vouch for the fact that although they make promises, the loan officers assigned to them are not very easily available whenever candidates are confused about a certain part of the education loan process or need clarification regarding the status of their file. This can lead to a certain level of misunderstanding between lenders and borrowers. The WeMakeScholars team communicates each and every important aspect of your education loan process by providing an access to our financial team. This makes it all the easier for students to clear any doubts that they could have regarding any aspect of the abroad education loan process.

Is Your Property Located in a City other than the one you are residing in?

Don’t worry. In the case of secured loans from government banks, it is essential to pledge collateral of some kind against your education loan for abroad studies. Usually, all government banks, certain private banks, and NBFCs lend secured loans. Generally, most applicants prefer pledging immovable properties as collateral. Now, if this particular property lies in a city/state other than the one in which the applicant is residing, most branches of government banks hesitate to process the loan application or the process is delayed.

WeMakeScholars, again, intervenes here and ensures that all the legal formalities related to the collateral being pledged are completed within a stipulated time frame, thus enabling students to get education loans easily sanctioned at exactly the moment when they need their funds. So if you are skeptical about whether your property can be considered as collateral for an abroad education loan, do not hesitate to get in touch with our team for assistance. You can request a callback.

Don't let the fear of debt hold you back from pursuing your dreams. We'll help you find the right education loan

Some miscellaneous issues faced by students while applying for abroad education loans

You will seldom find bank officials who are well aware of the education loan product being endorsed by the respective banks that they work for. Due to this factor, a lot of students who directly approach government banks for a student loan for abroad education are often misguided about a lot of things regarding their abroad education loan process.

When you apply for an abroad education loan from any bank through the WeMakeScholars team, you can rest be assured that all information about the right education loan will be explained to you in a systematic manner. Our team will also help you clear any doubts that you may have, regarding the overall education loan process.

Why apply with private banks/NBFCs for unsecured education loans for abroad via WeMakeScholars?

NBFCs (Non Banking Finance Companies) are the biggest providers of unsecured education loan in India. There are numerous NBFCs who cater to the funding requirements of different candidates. If you personally happen to go to each of these companies, they will obviously try to endorse their product. So how do you select the right one? How do you decide which lender suits your financial needs? Read on to find out.


The financial team at WeMakeScholars has complete information on the unsecured education loan schemes of every major NBFC functioning in India. As a result, we can help you weigh the pros and cons of applying with a particular NBFC for an education loan without collateral. Once you involve the WeMakeScholars team to borrow your study loan from abroad you can rest assured of our team’s assistance every step of the way in the process of getting a study loan for abroad.

Note: WeMakeScholars is an organization funded and supported by the Government of India that focuses on International Education finance. We are associated with 14+ public/Pvt banks/ NBFCs in India and help you get the best abroad education loan matching your profile. As this initiative is under the Digital India campaign, it’s free of cost. The organization has vast experience dealing with students going to various abroad education destinations like the US, Canada, UK, Australia, Germany, Sweden, Italy, China, and France among others.

Education Loan FAQs

  • I'm worried about getting rejected for an education loan. What can I do to increase my chances of getting approved?

    To increase your chances of getting approved for an education loan in India, there are a few things you can do. First, make sure you have a good credit score. You can check your credit score for free online and take steps to improve it if necessary. Additionally, you should have a clear plan for how you will use the loan funds, and be prepared to demonstrate your ability to repay the loan. Finally, consider getting a co-applicant or guarantor to strengthen your application.

  • Can I get an education loan if I have a bad credit score?

    It can be difficult to get an education loan if you have a bad credit score. However, some lenders may offer loans to borrowers with a bad credit score, but at a higher interest rate and with stricter terms and conditions. In such cases, having a co-applicant or guarantor with a good credit score can improve your chances of getting approved for a loan.

  • Do I need to have a co-applicant for an education loan in India, or can I apply on my own?

    In most cases, you will need a co-applicant for an education loan in India. This is because the bank or financial institution wants to ensure that the loan will be repaid, and having a co-applicant can reduce the risk. However, some banks may offer loans without a co-applicant for certain courses or in special cases.

  • How long will I have to pay back my education loan in India?

    The repayment period for an education loan in India can vary depending on the lender and the amount borrowed. Typically, repayment periods range from 5 to 15 years, but some lenders may offer longer or shorter terms depending on the applicant or co-applicants profile.

  • What is the maximum loan amount I can borrow for studying abroad with an education loan in India?

    The maximum loan amount you can borrow for studying abroad with an education loan in India can vary depending on the lender and your eligibility. Typically, lenders may offer up to Rs. 1 cr for studying abroad, but some may offer higher amounts.