✓ Unbeatable interest rate starting at 8.50% p.a.
✓ Maximum loan amount of 1.5 Cr.
In order to pursue higher education in France, students may obtain student loans from both public and private banks/financial organizations up to 1.5 cr rupees. Tuition, living expenses, and accommodation deposits are all covered by an education loan.
Loan Parameters |
Details |
Loan Limit |
Upto 75 lacs |
Expenses covered |
|
Eligible courses |
|
Interest rate |
10.5% to 12.5% per annum |
Moratorium Period |
Course duration plus 6 months |
Repayment Duration |
10 years |
Repayment policies |
Simple interest or partial simple interest is charged during the moratorium period |
Eligibility Criteria |
|
Co-applicant Salary |
The Salary of the co-applicant should start from 4.5 lacs to 6 lacs per annum, But this can be negotiated according to your profile. |
Several lenders offer unsecured/without collateral loans for France to pursue higher education, some of them are private banks and the rest are NBFCs.
Getting an Unsecured student loan for France can be an easy process if you simply follow these steps.
Step 1 - Visit WeMakeScholars and request a callback or fill out a common application form which takes only 2-3 mins.
Step 2 - A financial officer will be assigned to you and they will get in touch with you to initiate the loan process.
Step 3 - The assigned financial officer checks your eligibility for an education loan and lets you know about the eligible lenders for your profile to get an unsecured loan.
Step 4 - Thereafter you have to submit the required documents specially made by the assigned financial officer according to your profile in the WeMakeScholars secured document portal, From there all the assigned lenders will be able to download your documents to initiate your loan application.
Step 5 - Once the documents are with the lenders your application will be sanctioned within 2-6 days.
Step 6 - You’ll receive the sanction letter from the respective lender which you can sign and initiate the disbursement process to pay the deposit for the Blocked account.
There are multiple chances that your student loan application can be either delayed or simply rejected.
Majorly the issue lies in not being aware of the product that is suitable for your profile, and lenders might take advantage of you by exploiting you with a higher rate of interest as you're not aware of better products in the market that are much more affordable for your profile.
Rate of interest Negotiation: When it comes to unsecured loans, lenders typically demand higher interest rates based on the consumer's profile. However, at WeMakeScholars, we negotiate the interest rate on your behalf and lower it by at least 1% to 2%.
Experience in typical cases: Every day, we handle thousands of complicated cases involving several parties that must be handled immediately. Regardless of how complicated the case is, we always manage to get the sanction done
No service charge: WeMakeScholars doesn’t charge a single penny from the student and is absolutely free of cost, and we extend our service till you repay the loan to the lender.
Transparency: The information we provide students regarding the complete loan application process is one of the primary arguments in favor of using WeMakeScholars. Each stage of this process is completely explained by our financial officers. We make sure the students are fully aware of and understand the entire process before we start processing their loans.
Cashback provided: You will be given a cash back on the first payout up to a maximum of INR 3000 as a thank you for utilizing WeMakeScholars to apply for your study abroad loan.
These are the basic documents that are required for unsecured / without collateral education loans for France
Application form
A simple loan application form as provided by your financial officer with 2 photographs and your signature.
Student Documents
Co-applicant Documents
Basic identification documents are a must along with these financial documents
If Salaried
If Self Employed
Other Documents
The repayment period for an unsecured student loan will be 10 years and you need to start paying EMI after the moratorium period.
If, for example, a student borrows Rs. 35 lacs at an 11.25% interest rate for a repayment period of 10 years, the student will be required to return the loan in accordance with the following repayment schedule:
Repayment schedule |
EMI |
Interest portion |
Loan Outstanding |
Principal portion |
End of 1st year |
58684 |
37462 |
21222 |
3974695 |
End of 2nd year |
58684 |
34947 |
23737 |
3703962 |
End of 3rd year |
58684 |
32135 |
26549 |
3401152 |
End of 4th year |
58684 |
28989 |
29695 |
3062462 |
End of 5th year |
58684 |
25471 |
33214 |
2683643 |
End of 6th year |
58684 |
21535 |
37149 |
2259938 |
End of 7th year |
58684 |
17134 |
41550 |
1786031 |
End of 8th year |
58684 |
12210 |
46474 |
1255972 |
End of 9th year |
58684 |
6704 |
51980 |
663109 |
End of 10th year |
58684 |
545 |
58139 |
0 |
Loan Parameters |
Details |
Loan Limit |
Upto 1.5 cr |
Expenses covered |
|
Eligible courses |
|
Interest rate |
Starts from 8% |
Moratorium Period |
Course duration plus one year |
Repayment Duration |
15 years |
Repayment policies |
No need to pay any interest during the moratorium period |
Eligibility Criteria |
|
Types of Collateral |
Immovable properties -House, Flat, Non Agricultural land Liquid securities-LIC policies, FD, Govt. bonds |
Value of collateral (In case of a collateralized loan) |
For top-ranking universities - half the value of the required amount Other universities - an equal value of the required amount. |
Both public banks and private banks along with NBFCs give secured education loans for France to pursue higher education.
Getting a secured loan can be really hard as it involves a multi-layered process and here’s how you can process it faster
Step 1 Get in touch with your financial officer at WeMakeScholars, by requesting a callback or filling up the common application form.
Step 2 Give your loan details over the call so that your financial officer can analyze your loan profile.
After analyzing the loan profile, your financial officer will connect you with the lender that is offering you the best education loan deal.
Step 3 Submit your documents on the WeMakeScholars documents portal as per the documents checklist provided to you by your financial officer.
Step 4 Your financial officer will carry forward the process from here and will keep updating you about it.
Step 5 Collect your student loan sanction letter from your lender within 15-20 days after you have submitted your documents.
Your application for a student loan may be refused or delayed for a variety of reasons.
The main problem is that you may not be aware of the better product for your situation, and lenders may take advantage of you by charging you a higher rate of interest since you are unaware of the better, more cost-effective products available for your situation.
Government-funded: WeMakeScholars is a government-funded organization funded by the Ministry of IT, the government of India.
Experience in typical cases: On a daily basis we deal with thousands of cases that are complex and need to be handled on priority involving a lot of people, and we get the sanction done no matter how complex the case is.
No service charge: WeMakeScholars doesn’t charge a single penny from the student and is absolutely free of cost, and we extend our service till you repay the loan to the lender.
Transparency: Students who approach WeMakeScholars are always fully aware of the process that has been going on and are handily informed about the loan process and are given several lender options to choose from, and all the decisions made according to the profile will be informed to the student on a priority basis.
Cashback provided: As a thank you for using WeMakeScholars to apply for your study abroad student loan, you will receive a cashback on the first payout up to a maximum of INR 3000
All the documents that are required for an unsecured loan are required for a secured loan as well. For secured loans the co-applicant need not to have ITRs, basic income certificate is acceptable and here are the additional documents of collateral that you are pledging.
Additional Documents for Secured Loans
Note: A callback request or completion of the common application form at WeMakeScholars will let you know what additional documents are needed based on the collateral's location.
In France, secured loans have a 15-year repayment period with course duration plus a one-year moratorium period
For instance, if you took out a loan for 24 lacs with an interest rate of 8.5% and a 10-year repayment period, this would be your payback plan.
Repayment schedule |
EMI |
Interest portion |
Loan Outstanding |
Principal portion |
End of 1st year |
34317 |
18418 |
15899 |
2584254 |
End of 2ndyear |
34317 |
17012 |
17305 |
2384444 |
End of 3rd year |
34317 |
15483 |
18834 |
2166972 |
End of 4th year |
34317 |
13818 |
20499 |
1930278 |
End of 5th year |
34317 |
12006 |
22311 |
1672662 |
End of 6th year |
34317 |
10034 |
24283 |
1392275 |
End of 7th year |
34317 |
7888 |
26430 |
1087105 |
End of 8th year |
34317 |
5551 |
28766 |
754960 |
End of 9th year |
34317 |
3009 |
31308 |
393457 |
End of 10th year |
34317 |
241 |
34076 |
0 |
The living expenses in France are more when compared to other European countries but the tuition fees are unexpectedly less than usual. And the accommodation should be booked upfront before visa as per the France embassy. You will also need to provide tickets and medical insurance before applying for visa.
Expenses covered
International students can avail of education loans from banks/lenders who fund both secured and unsecured loans where the rate of interest for a secured loan is around 8.5% to 10% and 10.5% to 12% for an unsecured loan.
The challenge lies in getting to know which bank gives the lowest rate of interest on the best terms, The way to choose the best bank is by visiting WeMakeScholars and requesting a callback or filling out the common application form and a professional financial officer will be assigned to process your loan application.
France universities have lower tuition fees compared to other European universities, Moreover, the number of scholarships offered isn't less either but the percentage of scholarships awarded is dependent on the student profile. Here is a list of various scholarships that are provided to the majority of international students
Each bank be it public or private they have a list of universities for each country and those universities are ranked accordingly. All French universities are on the bank's list with respect to their ranking to know whether your university is on the list of those banks or not, Just get in touch with the financial officer of WeMakeScholars by requesting a callback or filling out the common application form.
Can I get a student loan in France?
Yes, you can get an education loan upto 1.5 cr secured loan and upto 75 lacs unsecured loan to study in France
Can international student get loan in France?
You can avail an education loan upto 75 lacs unsecured and upto 1.5cr secured loans even your an international student, all you have to do is visit WeMakeScholars by requesting a callback or filling the common application form
How can I fund my studies in France?
There are multiple ways to fund your education in France, but the best way is by taking an education loan. Education loans can be easily availed with the help of WeMakeScholars where we process your loan application for free.
Is France affordable for students?
The living expenses in France can be a little high compared to other European countries but the tuition fees and scholarships offered in France are quite affordable. You can find more scholarships for France in WeMakeScholars.
Can I get full scholarship in France?
Only 2%-3% of the students will be able to secure full scholarships, In that case it’s better to take a student loan from WeMakeScholars by requesting a callback
Is it cheaper to study in Canada or France?
France is much cheaper than canada as the tuition fees is far less when compared to any canadian universities, on the other hand the living expenses in France are a little higher but choosing student dorms can save you a lot of money
How much money do I need to study in France?
Tuition fees in Germany range from € 2000 to € 20,000 and living expenses can range from € 6000 to € 8000
Which study is best for future in France?
STEM - Science Technology Engineering and Mathematics are the major deal around the world, and along with them, the business administration adds on to great value for a bright future in France.
Indian students pursuing Master's degrees in France received exciting news from Prime Minister Narendra Modi during his visit. PM Modi announced that they would now be eligible for a five-year post-study visa, an increase from the previous two-year permit. This extension offers Indian graduates more work opportunities in France.
PM Modi also addressed concerns about Overseas Citizen of India (OCI) cards in Reunion Island, stating that the issues have been resolved and OCI cards are being issued. Efforts are underway to resolve similar issues in Martinique and Guadeloupe.
Furthermore, PM Modi made it easier for academics and researchers, such as teachers and professors in France, to teach in Indian institutions, fostering international collaborations in education and research.
PM Modi reiterated the government's commitment to supporting and ensuring the safety of Indians settled abroad. He emphasized that Indians overseas are equally important as citizens of India, and their interests will be protected.
These developments strengthen the relationship between India and France and demonstrate the government's efforts to facilitate the contributions of the Indian diaspora while fostering educational, cultural, and economic ties.
Last Updated - 14/07/2023
France has unveiled plans to welcome 30,000 Indian students to its academic institutions by 2030, as part of a broader strategy to strengthen cultural and economic ties with India.
To facilitate this influx, French universities and colleges will establish "International Classes" that will deliver courses in English. These classes aim to simplify the transition for Indian students into the French education system.
Incentivizing Indian students further, France is offering a five-year Schengen visa to those holding a master's degree or higher, and who've spent a semester studying in France. This visa grants unrestricted travel within the Schengen area, covering 26 European countries.
Key Initiatives:
Last Updated - 05/09/2023