Students who want to study abroad can apply for financial assistance, such as education loans, to pursue their chosen course of study.

Indian students above 18 years of age are eligible to apply for an education loan with Express Loans by iApply. They must have a strong academic record and a good credit history.

Yes. Express Loans by iApply will assist students who haven’t received their offer letter from their university. Education loans can also be applied for at other stages of the application journey, such as after receiving an offer, after paying a deposit, or after getting their visa.

Express Loans by iApply, an extension of Canam, does not charge any fees for the services offered.

To initiate a loan application, students are required to submit the following documents:

• KYC of the applicant and co-applicant
• Academic record and proof of work experience
• Financial documents of the co-applicant
• Applicant’s passport
• Letter of confirmation from the university

The loan application approval procedure is initiated by a lender once the student submits it with necessary documents. This procedure with a complete application form can take up to 72 hours.

An education loan ranges from 10-12 years including course duration, moratorium period, and repayment period.

All international education loans do not require collateral. Unsecured loans that offer up to a certain amount can be availed without mortgage.

Secured loans are offered at relatively lower interest rates for higher loan amounts (against collateral). Unsecured loans are offered without collateral.

Education loans can be availed for up to Rs. 2 crore. However, loan amount varies with factors like type of collateral, collateral value, student profile, etc.

A co-applicant or co-signer is the family member or blood relative who applies for a loan with the primary applicant or student. He/she is liable to repay if the student is unable to do so.

In case of unsecured loans, offers are prepared based on multiple factors that include academic profile and the institute the student seeks admission in. For a secured loan, more factors are at play including collateral type and value. So each loan offer is majorly dependent on the student’s profile among other factors.

Most international education loans cover the cost of tuition with accommodation, examination, laboratory, insurance premium, refundable deposits, equipment, and one-way travel expenses from/to the home country. The specific costs that each loan offer covers vary.

Express Loans by iApply can help students get the most suitable loan deals and assist in applying to them. However, loans are sanctioned by the respective lending institutes and each loan application will go through the necessary stages before being sanctioned.