{"id":68372,"date":"2025-01-06T18:30:16","date_gmt":"2025-01-06T13:00:16","guid":{"rendered":"https:\/\/leverageedu.com\/learn\/?p=68372"},"modified":"2025-01-06T18:30:16","modified_gmt":"2025-01-06T13:00:16","slug":"education-loan-to-studying-abroad-news-2025-01","status":"publish","type":"post","link":"https:\/\/leverageedu.com\/learn\/education-loan-to-studying-abroad-news-2025-01\/","title":{"rendered":"SBI\u2019s Collateral-Free Education Loan to Studying Abroad"},"content":{"rendered":"\n<p><strong>Education Loan to Studying Abroad:<\/strong> For Indian students aspiring to study abroad, financing often becomes a significant hurdle. By recognizing this, the State Bank of India (SBI) has introduced its revamped collateral-free education loan under the Global Ed-Vantage scheme, making global education more accessible than ever. Here\u2019s everything you need to know about this transformative initiative.<\/p>\n\n\n\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-what-is-sbi-global-ed-vantage-education-loan-to-studying-abroad\"><span id=\"what-is-sbi-global-ed-vantage-education-loan-to-studying-abroad\">What is SBI Global Ed-Vantage? Education Loan to Studying Abroad<\/span><\/h2>\n\n\n\n<p>SBI Global Ed-Vantage is a specially designed education loan for Indian students who want to pursue full-time courses in foreign universities. With this scheme, students can avail loans of up to \u20b950 lakh without the need for collateral, easing the financial stress for families planning international education.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-key-features-of-the-education-loan-to-studying-abroad\"><span id=\"key-features-of-the-education-loan-to-studying-abroad\">Key Features of the Education Loan to Studying Abroad<\/span><\/h2>\n\n\n\n<ol class=\"wp-block-list\">\n<li><strong>Collateral-Free Loans<\/strong>\n<ul class=\"wp-block-list\">\n<li>Students can access up to \u20b950 lakh without providing security or collateral. However, this applies only to selected institutions.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Flexible Repayment Period<\/strong>\n<ul class=\"wp-block-list\">\n<li>The repayment tenure extends up to 15 years, allowing students to repay the loan in manageable monthly installments (EMIs).<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Early Disbursement<\/strong>\n<ul class=\"wp-block-list\">\n<li>Loans can be approved even before students receive their Form I-20 or visa, ensuring timely financial support.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Tax Benefits<\/strong>\n<ul class=\"wp-block-list\">\n<li>Under Section 80(E) of the Income Tax Act, students can claim deductions on the interest paid, offering significant savings.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Wide Range of Eligible Courses<\/strong>\n<ul class=\"wp-block-list\">\n<li>Graduate and postgraduate degrees<\/li>\n\n\n\n<li>Diploma and certificate programs<\/li>\n\n\n\n<li>Doctorate programs in any discipline<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Comprehensive Expense Coverage<\/strong>\n<ul class=\"wp-block-list\">\n<li>Tuition and hostel fees<\/li>\n\n\n\n<li>Examination, library, and laboratory fees<\/li>\n\n\n\n<li>Travel expenses<\/li>\n\n\n\n<li>Books, equipment, uniforms, and computers required for the course<\/li>\n\n\n\n<li>Study tours, project work, and thesis costs (up to 20% of tuition fees)<\/li>\n\n\n\n<li>Refundable deposits like caution deposits and building fund deposits (up to 10% of tuition fees)<\/li>\n<\/ul>\n<\/li>\n<\/ol>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-processing-fee-and-interest-rate\"><span id=\"processing-fee-and-interest-rate\"><strong>Processing Fee and Interest Rate<\/strong><\/span><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Processing Fee<\/strong>: \u20b910,000 per application<\/li>\n\n\n\n<li><strong>Interest Rate<\/strong>: 10.15% for loans between \u20b97.5 lakh and \u20b950 lakh<\/li>\n\n\n\n<li><strong>Interest Accrual<\/strong>: Simple interest is charged during the course period and repayment holiday (moratorium) period.<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image size-full\"><img  loading=\"lazy\"  decoding=\"async\"  width=\"1024\"  height=\"640\"  src=\"data:image\/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAEAAAABAQMAAAAl21bKAAAAA1BMVEUAAP+KeNJXAAAAAXRSTlMAQObYZgAAAAlwSFlzAAAOxAAADsQBlSsOGwAAAApJREFUCNdjYAAAAAIAAeIhvDMAAAAASUVORK5CYII=\"  alt=\"Education Loan to Studying Abroad\"  class=\"wp-image-61983 pk-lazyload\"  data-pk-sizes=\"auto\"  data-ls-sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"  data-pk-src=\"https:\/\/leverageedu.com\/learn\/wp-content\/uploads\/2024\/09\/Leverage-Edu-News-Covers-_91_.webp\"  data-pk-srcset=\"https:\/\/blogassets.leverageedu.com\/media\/uploads\/sites\/8\/2024\/09\/22105657\/Leverage-Edu-News-Covers-_91_.webp 1024w, https:\/\/blogassets.leverageedu.com\/media\/uploads\/sites\/8\/2024\/09\/22105657\/Leverage-Edu-News-Covers-_91_-300x188.webp 300w, https:\/\/blogassets.leverageedu.com\/media\/uploads\/sites\/8\/2024\/09\/22105657\/Leverage-Edu-News-Covers-_91_-768x480.webp 768w, https:\/\/blogassets.leverageedu.com\/media\/uploads\/sites\/8\/2024\/09\/22105657\/Leverage-Edu-News-Covers-_91_-380x238.webp 380w, https:\/\/blogassets.leverageedu.com\/media\/uploads\/sites\/8\/2024\/09\/22105657\/Leverage-Edu-News-Covers-_91_-800x500.webp 800w, https:\/\/blogassets.leverageedu.com\/media\/uploads\/sites\/8\/2024\/09\/22105657\/Leverage-Edu-News-Covers-_91_-150x94.webp 150w\" ><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-why-this-education-loan-to-studying-abroad-matters\"><span id=\"why-this-education-loan-to-studying-abroad-matters\">Why This Education Loan to Studying Abroad Matters<\/span><\/h2>\n\n\n\n<p>So, SBI\u2019s collateral-free education loan is more than just financial aid\u2014it\u2019s a stepping stone for countless Indian students aspiring to study abroad. By addressing the core financial challenges families face, this initiative ensures that students can focus on academics without worrying about funding. With competitive interest rates and a repayment structure tailored for middle-income families, it stands out as a pivotal move towards democratizing access to global education.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-driving-affordability-for-middle-income-families\"><span id=\"driving-affordability-for-middle-income-families\">Driving Affordability for Middle-Income Families<\/span><\/h3>\n\n\n\n<p>Rahul Subramaniam, Co-Founder of Athena Education, praised SBI\u2019s effort to make international education accessible for middle-income families. &#8220;The Global Ed-Vantage loan caters to students targeting prestigious institutions like MIT, Stanford, and Oxford, removing financial barriers with its collateral-free structure,&#8221; he said.<\/p>\n\n\n\n<p>Similarly, this scheme particularly benefits families without property or other high-value assets to pledge as collateral. It opens doors for students to pursue education in top universities across the US, UK, Canada, and Europe.<\/p>\n\n\n\n<p class=\"has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background\">Also Read: <strong><a href=\"https:\/\/leverageedu.com\/learn\/stem-courses-in-us-news-2025-01\/\">Why These 5 STEM Courses in US Are a Game-Changer in 2025?<\/a><\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-broader-impact-on-indian-students\"><span id=\"broader-impact-on-indian-students\">Broader Impact on Indian Students<\/span><\/h3>\n\n\n\n<p>According to the Indian Students Mobility Report 2024, over 1.3 million Indian students were studying abroad in 2023. With SBI\u2019s new initiative, this number is expected to grow significantly. Saurabh Arora, Founder of University Living, stated, &#8220;The scheme\u2019s flexibility and comprehensive coverage of expenses ensure students can focus entirely on their academic journey.&#8221;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-how-does-it-compare-with-nbfc-loans\"><span id=\"how-does-it-compare-with-nbfc-loans\">How Does It Compare with NBFC Loans?<\/span><\/h3>\n\n\n\n<p>Non-Banking Financial Companies (NBFCs) often charge higher interest rates for unsecured loans, making them a less favorable option for many families. Ankit Mehra, CEO of GyanDhan, highlighted that SBI\u2019s initiative offers a lower-cost alternative, enabling more students to qualify for loans. \u201cOur analysis shows that over 2% of student applicants who previously couldn\u2019t secure loans now qualify under SBI\u2019s relaxed requirements,\u201d he said.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-who-can-apply-for-this-education-loan-to-studying-abroad\"><span id=\"who-can-apply-for-this-education-loan-to-studying-abroad\">Who Can Apply for this Education Loan to Studying Abroad?<\/span><\/h2>\n\n\n\n<p>Students aiming for:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Top-tier universities like MIT, Stanford, and Harvard<\/li>\n\n\n\n<li>Universities in the US, UK, Canada, and Europe<\/li>\n\n\n\n<li>Full-time graduate, postgraduate, diploma, or doctoral courses<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-benefits-at-a-glance\"><span id=\"benefits-at-a-glance\">Benefits at a Glance<\/span><\/h2>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>Feature<\/strong><\/td><td><strong>Details<\/strong><\/td><\/tr><tr><td>Loan Amount<\/td><td>Up to \u20b950 lakh<\/td><\/tr><tr><td>Collateral Requirement<\/td><td>None (for selected institutions)<\/td><\/tr><tr><td>Repayment Tenure<\/td><td>Up to 15 years<\/td><\/tr><tr><td>Tax Benefits<\/td><td>Under Section 80(E)<\/td><\/tr><tr><td>Processing Fee<\/td><td>\u20b910,000<\/td><\/tr><tr><td>Interest Rate<\/td><td>10.15% (for loans \u20b97.5 lakh to \u20b950 lakh)<\/td><\/tr><tr><td>Expenses Covered<\/td><td>Tuition, travel, accommodation, books, and more<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background\">Also Read: <strong>Study Abroad Opportunities for High School Students in 2025<\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-how-to-apply-for-this-education-loan-to-studying-abroad\"><span id=\"how-to-apply-for-this-education-loan-to-studying-abroad\">How to Apply for this Education Loan to Studying Abroad?<\/span><\/h2>\n\n\n\n<ol class=\"wp-block-list\">\n<li>Visit the nearest SBI branch or the official SBI website.<\/li>\n\n\n\n<li>Fill out the application form.<\/li>\n\n\n\n<li>Submit required documents, including proof of admission, estimated expenses, and personal identification.<\/li>\n\n\n\n<li>Await loan approval. Pre-visa loan approval is available for faster disbursement.<\/li>\n<\/ol>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-expert-insights\"><span id=\"expert-insights\">Expert Insights<\/span><\/h2>\n\n\n\n<p>Experts believe SBI\u2019s move will trigger a shift in the education loan market. Mehra anticipates that other public-sector banks will follow suit, making unsecured loans a standard offering in the study-abroad segment. \u201cThis marks the next growth phase in India\u2019s study-abroad market,\u201d he added.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-education-loan-to-studying-abroad\"><span id=\"education-loan-to-studying-abroad\">Education Loan to Studying Abroad<\/span><\/h2>\n\n\n\n<p>SBI\u2019s collateral-free education loan is a boon for students aspiring to study abroad. Also with flexible repayment terms, tax benefits, and comprehensive coverage of essential expenses, this scheme significantly reduces financial hurdles. As more students benefit from this initiative, it is set to redefine the landscape of international education for Indian families.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-faqs\"><span id=\"faqs\">FAQs<\/span><\/h2>\n\n\n\n<div class=\"schema-faq wp-block-yoast-faq-block\"><div class=\"schema-faq-section\" id=\"faq-question-1736168132496\"><strong class=\"schema-faq-question\"><strong>1. What is the maximum loan amount I can get under the Global Ed-Vantage scheme?<\/strong><\/strong> <p class=\"schema-faq-answer\">You can avail of up to \u20b950 lakh without collateral, subject to eligibility and approval.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1736168143655\"><strong class=\"schema-faq-question\"><strong>2. Can I apply for the loan before receiving my visa?<\/strong><\/strong> <p class=\"schema-faq-answer\">Yes, SBI allows pre-visa loan approvals to ensure timely disbursement.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1736168158675\"><strong class=\"schema-faq-question\"><strong>3. What expenses does the loan cover?<\/strong><\/strong> <p class=\"schema-faq-answer\">The loan covers tuition, accommodation, travel, books, equipment, project costs, and more.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1736168171466\"><strong class=\"schema-faq-question\"><strong>4. Are there tax benefits for repaying the loan?<\/strong><\/strong> <p class=\"schema-faq-answer\">Yes, under Section 80(E) of the Income Tax Act, you can claim deductions on interest paid.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1736168182610\"><strong class=\"schema-faq-question\"><strong>5. Is the loan available for all institutions abroad?<\/strong><\/strong> <p class=\"schema-faq-answer\">The collateral-free option applies only to selected institutions. Check the list provided by SBI.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1736168196755\"><strong class=\"schema-faq-question\"><strong>6. What is the repayment tenure?<\/strong><\/strong> <p class=\"schema-faq-answer\">You can repay the loan over a maximum of 15 years, including the moratorium period.<\/p> <\/div> <\/div>\n\n\n\n<p>Stay tuned for updates about Study Abroad Opportunities for High School Students on <a href=\"https:\/\/leverageedu.com\/learn\/category\/news-updates\/\"><strong>Leverage Edu News Updates<\/strong><\/a> and take the first step toward your dream career abroad!<\/p>\n\n\n\n<div class=\"wp-block-buttons is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-16018d1d wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLO9vgswwNjVAw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\">GOOGLE NEWS<\/a><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"Education Loan to Studying Abroad: For Indian students aspiring to study abroad, financing often becomes a significant hurdle.&hellip;\n","protected":false},"author":47,"featured_media":46011,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"editor_notices":[],"footnotes":""},"categories":[38],"tags":[],"class_list":{"0":"post-68372","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-news-updates"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.3 (Yoast SEO v27.3) - 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With more than 10 years of experience, including 5 years in a newsroom, Ankita takes great pleasure in helping students via study abroad news updates about universities and visa policies. When not busy working, you can find her creating memes and discussing social issues with her colleagues.","sameAs":["https:\/\/in.linkedin.com\/in\/ankita-mishra-journalist?trk=public_post_feed-actor-name","https:\/\/x.com\/https:\/\/twitter.com\/i_am_anki_"],"url":"https:\/\/leverageedu.com\/learn\/author\/ankita\/"},{"@type":"Question","@id":"https:\/\/leverageedu.com\/learn\/education-loan-to-studying-abroad-news-2025-01\/#faq-question-1736168132496","position":1,"url":"https:\/\/leverageedu.com\/learn\/education-loan-to-studying-abroad-news-2025-01\/#faq-question-1736168132496","name":"1. What is the maximum loan amount I can get under the Global Ed-Vantage scheme?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"You can avail of up to \u20b950 lakh without collateral, subject to eligibility and approval.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/leverageedu.com\/learn\/education-loan-to-studying-abroad-news-2025-01\/#faq-question-1736168143655","position":2,"url":"https:\/\/leverageedu.com\/learn\/education-loan-to-studying-abroad-news-2025-01\/#faq-question-1736168143655","name":"2. Can I apply for the loan before receiving my visa?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"Yes, SBI allows pre-visa loan approvals to ensure timely disbursement.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/leverageedu.com\/learn\/education-loan-to-studying-abroad-news-2025-01\/#faq-question-1736168158675","position":3,"url":"https:\/\/leverageedu.com\/learn\/education-loan-to-studying-abroad-news-2025-01\/#faq-question-1736168158675","name":"3. What expenses does the loan cover?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"The loan covers tuition, accommodation, travel, books, equipment, project costs, and more.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/leverageedu.com\/learn\/education-loan-to-studying-abroad-news-2025-01\/#faq-question-1736168171466","position":4,"url":"https:\/\/leverageedu.com\/learn\/education-loan-to-studying-abroad-news-2025-01\/#faq-question-1736168171466","name":"4. Are there tax benefits for repaying the loan?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"Yes, under Section 80(E) of the Income Tax Act, you can claim deductions on interest paid.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/leverageedu.com\/learn\/education-loan-to-studying-abroad-news-2025-01\/#faq-question-1736168182610","position":5,"url":"https:\/\/leverageedu.com\/learn\/education-loan-to-studying-abroad-news-2025-01\/#faq-question-1736168182610","name":"5. Is the loan available for all institutions abroad?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"The collateral-free option applies only to selected institutions. Check the list provided by SBI.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/leverageedu.com\/learn\/education-loan-to-studying-abroad-news-2025-01\/#faq-question-1736168196755","position":6,"url":"https:\/\/leverageedu.com\/learn\/education-loan-to-studying-abroad-news-2025-01\/#faq-question-1736168196755","name":"6. What is the repayment tenure?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"You can repay the loan over a maximum of 15 years, including the moratorium period.","inLanguage":"en-US"},"inLanguage":"en-US"}]}},"acf":[],"_links":{"self":[{"href":"https:\/\/leverageedu.com\/learn\/wp-json\/wp\/v2\/posts\/68372","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/leverageedu.com\/learn\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/leverageedu.com\/learn\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/leverageedu.com\/learn\/wp-json\/wp\/v2\/users\/47"}],"replies":[{"embeddable":true,"href":"https:\/\/leverageedu.com\/learn\/wp-json\/wp\/v2\/comments?post=68372"}],"version-history":[{"count":0,"href":"https:\/\/leverageedu.com\/learn\/wp-json\/wp\/v2\/posts\/68372\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/leverageedu.com\/learn\/wp-json\/wp\/v2\/media\/46011"}],"wp:attachment":[{"href":"https:\/\/leverageedu.com\/learn\/wp-json\/wp\/v2\/media?parent=68372"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/leverageedu.com\/learn\/wp-json\/wp\/v2\/categories?post=68372"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/leverageedu.com\/learn\/wp-json\/wp\/v2\/tags?post=68372"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}