Education loan for MS

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Table of content

  1. Education Loan for MS Abroad
  2. Education Loan for MS in India
  3. How to apply for an education loan for MS through WeMakeScholars?
  4. Documents Required for Education Loan for MS
  5. Benefits of WeMakeScholars
  6. Scholarships to study MS Abroad
  7. FAQ's
  8. Need Help? Ask Here!

An MS, or Master of Science, is a postgraduate degree that is awarded to students who have completed their bachelor's degree in a science or technology field, such as Finance, Engineering, Computer Science, Business, or Management. 

The average cost of pursuing an MS from top universities in India is Rs 12 - 15 lacs and around Rs 50 - 60 lacs for top universities of the world. The cost is high and may be a cause of concern for many students, but there are various Indian lenders who provide education loans for MS of upto Rs 1.5 Cr depending on the strength of the student’s loan profile.

Education Loan for MS Abroad

MS in abroad imparts theoretical and practical knowledge to students in their chosen field of study. It also requires you to conduct and present a thesis in order to fulfill graduation requirements. The course duration of pursuing an MS from abroad is generally 2 years. The tuition fee is around Rs 55 lacs to pursue MS from abroad, excluding living expenses which depend on the country in which you are planning to study. 

The average cost of pursuing an MS from abroad for an Indian student is quite high, but there is no need to worry. Check below the features of education loans for MS in abroad.



Loan Amount

Up to 1.5 Cr with collateral
Up to 1 Cr without collateral

Expenses covered

Fees for admission 
Course tuition fee
Expenses for books
Laptop or computer expenses 
Hostel or Accommodation rent
Charges for traveling
Insurance premiums
Miscellaneous expenses

Moratorium period

Period of course + 12 months

Repayment tenure

12 to 15 years

Processing fees

10k + 1800 GST or 1 to 2% of the loan amount depending on the lender


Top countries which are most preferred by students for MS are:

  • USA
  • France
  • UK
  • Netherlands
  • Ireland

Top MS Programs which are preferred by students for MS are:

  • MS in Computer Science
  • MS Finance
  • MS Data Science
  • MS Biology
  • MS Information Technology

Education loan for MS in USA

Education loans for MS in the US are offered by all Indian lenders, public and private banks, and also NBFCs at different interest rates and bank policies. The loan amount may go upto Rs 1.5Cr, yet the selection of the best education loan for MS in USA depends on the student’s loan profile.

The right time to apply for an education loan for MS in the USA is:

  • Summer intake (May) - Start applying in February or earlier
  • Winter intake (January) - Start applying in October or earlier
  • Fall intake (September) - Start applying in June or earlier

Do not have the Loan margin amount for the HDFC bank education loan? Do not worry, we are here to help you!

Eligibility and Requirements to apply for MS in USA

Education loan for MS in the USA for Indian students is readily available at interest rates starting from 8.3%. But, the final rate of interest and other loan parameters depends on the applicant’s loan profile. Moreover, unsecured education loans allow students to take upto Rs 1Cr as an education loan for MS in the USA without collateral. Below are the other requirements & eligibility to apply for MS in the USA.

Academic Requirements:

  • Students are required to clear their bachelor’s with a minimum 60% score
  • Applicant must clear the GRE or GMAT exam 
  • Student must have an acceptance letter from the university

Past Work Experience:

Students not having any work experience before applying for an education loan to study MS in the USA stand an equal chance to apply, as it is not mandatory. But having work experience will always be a plus point. Students prefer the USA as their study abroad destination to pursue MS in courses like, data science, business analytics, and computer science which are quite popular and have great scope in the future.

Top universities in the USA for MS in 2023


University Name


Massachusetts Institute of Technology (MIT)


Stanford University


Harvard University


California Institute of Technology (Caltech)


University of Chicago


University of Pennsylvania


Princeton University


Yale University


Cornell University


Columbia University


Education loan for MS in UK

Education loan for MS in the UK is available in both ways, with collateral, and without collateral. On average an Indian student will need around Rs 25 lacs per year, which means around Rs 50 lacs to pursue MS from the UK. 

Most of the time private banks and NBFCs reject the applications for education loans for MS in the UK without collateral, but with WeMakeScholars, you can get an unsecured loan of upto Rs 1 Cr depending on the co-applicant and other loan details.

Eligibility and Requirements to Apply for MS in the UK

Education loan for MS in the UK for Indian students is offered at an interest rate starting from 8.3%. The eligibility criteria for students to apply for loans are as follows:

  • Students must have scored a minimum of 60% in the relevant bachelor's degree.
  • Language proficiency tests like IELTS, TOEFL, or PET must be cleared with 6-7 bands, 90-100 marks, and 60 or above scores respectively.
  • GRE or GMAT Certificates
  • Professional experience certificates if required by the university.

MS in computer science in the UK is one of the most preferred study programs chosen by most Indian students.

Education loan for MS in Ireland

Education loans for MS in Ireland are offered by public and private banks along with NBFCs in India. The average cost of studying MS in Ireland is between Rs 20-25 lacs per year, which means you will need at least Rs 50 lacs as an education loan for MS in Ireland. However, the maximum loan amount that can be offered is Rs 1.5 Cr.

Eligibility and Requirements to Apply for MS in Ireland

In Ireland, the MS program duration is generally 1-2 years which is available as research-oriented, course-based, or both combined. The academic requirements to be eligible for MS in Ireland include:

  • 3-4 years of bachelor's degree in the relevant study program
  • A respectable IELTS and GRE/GMAT scores with a decent GPA in bachelor
  • Work experience of 3-5 is generally recommended to improve chances of admission
  • A smartly written SOP

The most preferred streams of MS in Ireland are business analytics, data analytics/ big data, software engineering, computer science, banking & finance.

Education Loan for MS in India

Masters of Science in India is a postgraduate level course offered by reputed educational institutes in India. Course duration for MS in India is 1.5 - 3 years, in which students have the scope to specialize in Chemistry, Physics, Management, Computer Science, Software Engineering etc. The tuition fees of pursuing MS in India is 3 - 5 lacs per annum. To bear the cost of education, students apply for an education loan for MS in India to get the required funding support.

Worried about the cost of studying abroad? Let us help you get the right education loan for your needs

How to apply for an education loan for MS through WeMakeScholars?

WeMakeScholars is a government of India-funded fin-tech start-up aiming to provide unbiased funding solutions to students by means of scholarships and education loans. We are funded and supported by the Ministry of Electronics and Information Technology under the Digital India Campaign. 

To apply for an education loan to pursue a Master of Science in any of the above-mentioned countries, you will have to get in touch with your financial officer at WeMakeScholars. At WeMakeScholars your loan sanctioning process will proceed as:

Step 1 Upon receiving a callback, provide your loan-related information to the assigned financial officer.

Step 2 Your loan officer will analyze your profile to suggest the best lenders as per your eligibility. Choose the best lender to proceed with your loan process.

Step 3 Upload your documents on WeMakeScholars Documents Portal to start your loan process as early as possible.

Step 4 If applied for an unsecured loan, collect your sanction letter in 2-4 days and in the case of a secured loan it takes 15-20 days to sanction your loan from the lender.

Step 5 Sign the necessary documents to complete the loan formalities

Let us help you get the education loan you need in no time for free of cost

Documents Required for Education Loan for MS

To apply for an educational loan for MS, you will need to submit the following documents:

  1. Filled out an education loan application form with 2 passport photos, processed through the WeMakeScholars website
  2. Bank KYC of applicant and co-applicant/guarantor
  3. Proof of identity: PAN Card or Passport (for overseas students)
  4. Proof of address: Aadhar card, Passport, Electricity bill, Ration card, Bank statement, Telephone bill, Voter ID
  5. Bank account details (6 months of salary credits if co-applicant is salaried, 1-year business transactions if self-employed)
  6. Personal asset and liability statement verified by bank professional
  7. Applicant academic documents: admission confirmation, qualifying exam scorecard, class 10th/12th mark sheet and certificate, degree certificates, university fee structure
  8. Co-applicant's income documents: 2-year Form 16 (salaried), company ID, 3-month salary slip, 2-year Income Tax Return (ITR) or business address proof, P&L and ITR of last 3 years (self-employed)
  9. Other documents: affidavit in bank standard format, a declaration from co-applicant for any additional expenses, previous loan statement (1 year), payment receipts, gap certificate (if applicable)
  10. Collateral documents (optional, as per student's eligibility)

NOTE: All documents must be self-attested.

We offer personalized education loan solutions that are customized to your needs

Benefits of WeMakeScholars

WeMakeScholars is a student platform supported by the government that offers funding options for higher education in India and abroad. We work with over 14 banks and non-banking financial firms. Here are some benefits of choosing WeMakeScholars for your education loan:

Quicker Processing: Loans processed through WeMakeScholars are 50% faster than traditional bank processes. Loans from private banks can be completed in 6-7 days, while loans from public banks with collateral take 15-20 days.

Competitive Interest Rates: WeMakeScholars' large size allows for interest rate discounts of 0.5-2% for loan applicants.

Expert Assistance: A financial officer will help choose the best lender based on eligibility and bank rules.

Digital Application: Students can apply online easily and submit documents online, reducing the need for multiple trips to the bank.

Loan Negotiation Support: WeMakeScholars offers assistance in negotiating loan terms and interest rates with banks.

Full Support: A financial officer will provide support throughout the loan process and address any post-approval concerns.

Tax Advantages: WeMakeScholars helps students take advantage of tax savings programs and TDS to save money on their loans.

Free Services: All services for prime loans are free for students as WeMakeScholars is funded by the IT Ministry.

Cashback Offer: Upon loan release, students may receive up to Rs 3,000 cashback.

Get the best interest rates and repayment policies on your education loan with WeMakeScholars

Scholarships to study MS Abroad

The cost of pursuing MS in India and abroad has increased significantly over the past few years, therefore, to help Indian students arrange funds for their MS study program we have listed the student scholarships below:

To find other scholarships, visit WeMakeScholars Scholarships Portal.  Though scholarships are a great source of funding, we suggest students to still apply for an education loan even if they are eligible for getting scholarships, because only 5-10% of the total applicants get the scholarship.

So, to not miss the opportunity of studying abroad and avoiding the risk of being out of funds, apply for an education loan through WeMakeScholars. Request a callback to start your loan process today.


  • What is an MS degree all about?

  • What are the eligibility criteria to pursue MS in India or abroad?

  • How long does it take to complete an MS program?

  • Is it necessary to take an entrance exam for MS admission in India or abroad?

  • What is the cost of pursuing MS in India or abroad?

  • What are the job prospects after completing MS in India or abroad?

  • Is financial aid or scholarship available for MS in India or abroad?

  • What is the process of applying for MS in India or abroad?

  • Is work experience required before pursuing MS in India or abroad?


University of Delaware Unveils Affordable MS in Finance for Indian Scholars

The University of Delaware, a distinguished American research institution, has introduced its latest postgraduate program, the Master of Science (MS) in Finance, tailored for Indian students seeking a cost-effective route to a US master's degree. The program kicks off with online instruction for the initial semester in India, followed by two on-campus semesters in Newark, Delaware. 

This blended learning model is expected to slash overall program costs by approximately 30%. Notably, the GRE test score requirement has been waived, widening accessibility. Eligible applicants include those with a three-year undergraduate or a four-year engineering degree.

This program boasts a STEM designation, granting Indian students the prospect of applying for a three-year post-study work visa in the US, aligning with opportunities available to full-time international peers. The Spring session commences on February 6, 2024, with applications now open for Indian students. The application deadline is November 15, 2023.

Last Updated - 16/09/2023

Our Education Loan team will help you with any questions

Naresh Kumar
WeMakeScholars- supported by IT Ministry, Govt. of India.
Published: | Updated: