Education Loan for MS in the USA Through GoStudy

Pursue your higher education in the USA worry-free with the most beneficial education loan for masters in the USA through GoStudyLoans.

Tired of hectic loan processes and the complications of acquiring an education loan for study? The solution is an education loan for Masters in the USA for Indian students through GoStudy. GoStudyLoans offers affordable, end-to-end assistance for education loans for MS in USA for Indian students. It doesn't matter where you stay as GoStudyLoans can help you avail the best education loan for MS in the USA in Bangalore, Chennai, Hyderabad, Mumbai, Delhi, Pune, Trivandrum and Cochin.


9

Factors That Get You an Education Loan for MS in the USA through GoStudy

1

Excellent Academic Background

With a great track record of credits, achievements and marks, it becomes easier for you to get the best education loan for a master's in the USA through GoStudyLoans.

2

Future Focused Course

GoStudyLoans deals with 90% of the different categories of courses available in the USA to help you with education loans for MS in the USA.

3

Choice of Institution

GoStudyLoans covers the majority of the universities in the USA for education loans for masters.

4

Potential to Offer Collateral

GoStudyLoans can help you by getting you education loans for a Master's in the USA without collateral.

5

Co-Applicants of the Loan

GoStudyLoans makes things convenient by helping you avail of education loans for masters in the USA without a cosigner.

6

Approval through just KYC!

With GoStudyLoans, you need not struggle in the process to avail of an education loan for MS in USA for Indian students. You can get loans based on KYC.

7

Easy and Straightforward Loan Procedure

At GoStudyLoans, you must follow three simple steps to avail of an education loan for MS in the USA for Indian students.

8

Most Transparent and Simplest Education Loan Rate of Interest

With GoStudyLoans, you get competitive interest rates on the best education loan for MS in the USA, which is generally 0.5% to 1% lower than the market rates.

9

Instant Loan Sanction

GoStudyLoans offers all eligible applicants with education loans in India for MS in USA sanctions within three to seven days.


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Education Loans for MS in the USA Through Gostudy

The massive cost associated with studying professional courses like MS in the USA and living expenditures is the most important reason behind the inclination of students to pursue education loans. Education loans for MS in the USA through GoStudy help you complete your career goals easily and in the most hassle-free and convenient way. Education loans for MS in the USA for Indian Students through GoStudy come with a host of government-backed advantages and money-saving opportunities where all your expenses are met, and your studies are funded well without any interruptions. Education loan in India for MS in the USA through GoStudy is made super easy and convenient with GoStudyLoans due to the immense cooperation from our financial lenders or partners.

Students can pick between two secured and unsecured loans when they are looking for an education loan for MS in the USA through GoStudy. The higher demands of students approaching the best education loan for MS in the USA through GoStudy and rising numbers of students wanting to study in the USA have paved the way for many NBFCs and banks to come up with new modified schemes on the loans. These loans cover all your expenses right from the Tuition Fee, Accommodation Costs, Travel, Food, Shopping, etc., while you are focusing on your dream career in the USA. An education loan in India for MS in the USA through GoStudy can meet your financial obligations and assist in taking your career to a whole new level.

 Education Loan for MS in the USA
Education Loan for MS in the USA

Interest Rate for Education Loan for MS in the USA through GoStudy

One of the most important things to keep in mind is the lower the rate of interest on your education loan for MS in USA for Indian students through GoStudy. The better will be the loan product. Lending organizations generally levy a rate of interest on the education loan amount that can be different for men and women. Interest rates are usually loans for secured education loans, which is the other way around for unsecured education loans. The interest rate for the best education loan for MS in USA through GoStudy is flexible and changes periodically based on course profile and the borrower's overall credit.

Below you will find the rates of interest on the best education loan for masters in the USA through GoStudyLoans:

Type of Education Loan

Education Loan Rate of Interest As Per Market

Education Loan Rate of Interest Through GoStudy

Secured Education Loan (USA) 9.5% 9.25%
Unsecured Education Loan (USA) 10.25% 10.00%
Secured Education Loan (Others) 9.5% 9.5%
Unsecured Education Loan (Others) 11.75% 10.75%

You can use GoStudyLoans's EMI calculator, the best online tool to calculate the amount of money you need to pay every month after availing an education loan in India for an MS in the USA through GoStudy. The tool will also offer you an amortization schedule highlighting EMI break-ups in terms of monthly interest paid and repaid principal amount. Furthermore, it also provides the details of the education loan amount already repaid and the outstanding amount. Use this mathematical formula to calculate your loan EMI based on the interest rate of your education loan for MS in the USA through GoStudyLoans:

EMI = [Principal Amount x Rate of Interest x (1 + Rate of Interest) Tenure*] / [(1 + Rate of Interest) Tenure* - 1]

*Please note that the tenure is calculated in months.

What are the costs covered in an Education Loan for MS in the USA through GoStudy?

It is always imperative to check what other expenses are covered in the best education loan for MS in the USA through GoStudy apart from the tuition fee. When studying for a Master's in the USA, there are various other things you need to take care of. You can find different schemes of education loans in India for MS in the USA through GoStudy that cover varied expenses other than tuition fees.

Below is a complete list of the costs covered in the best education loan for masters in the USA through GoStudyLoans:

  • Fee payable to the university and hostel
  • Caution deposit, refundable deposit and building fund
  • Examination, laboratory and library fee
  • Travel expenditures
  • Purchase of instruments, equipment and books
  • Purchase of laptop, if needed, for MS in the USA
  • Student's insurance premium, if applicable
  • Other expenditures, such as thesis, project work and study tours.

Students can avail of an education loan for MS in the USA through GoStudy for up to Rs.75 lakhs for the majority of the top universities in the USA. This will depend on the MS course and university chosen by the student and job potential after completing the course. Note that the parameters of education loans for masters in the USA through GoStudy can differ from one profile to another. However, the procedure is free of hassle and completely transparent as GoStudyLoans's representatives ensure to take care of all your needs in the most effective manner. Below, you will find the list of financial organizations that offer education loans for MS in the USA for Indian students through GoStudyLoans:

  • IDFC First Bank
  • ICICI Bank
  • Axis Bank
  • HDFC Credila
  • Avanse
  • Auxilo
  • Incred

Things covered under Education Loan through GoStudy

Costs Covered by Education Loan through GoStudy

Tuition Fees 0 - 65 Lakhs (Approx)
Living Cost 6 Lakhs - 15 Lakhs (Approx)
Travel Expenses 20,000 - 40,000 Rupees (Approx)
Others (Books/Uniforms/Computers) 80,000 - 1,50,000 Rupees (Approx)

Unsecured Education Loan for MS in the USA Through GoStudy

If you want to know about an unsecured education loan for MS in the USA through GoStudy in detail, you must first understand what the security of an education loan is. This is usually known as collateral, an asset the borrower uses to pledge against the loan amount as security. This asset can be fixed deposit, property, gold or agricultural land.

You can easily find several NBFCs and banks in India that provide an unsecured education loan for masters in the USA through GoStudy, up to a specific amount, thereby making it convenient for overseas students to pursue their MS at the best universities in the USA. However, such loans feature shorter repayment periods and higher interest rates, which will not be the case if you have GoStudyLoans at your service.

An unsecured education loan for a master's in the USA for Indian students through GoStudy requires the applicants to meet certain eligibility criteria. These include:

  • Minimum 60% score in high school to ensure job potential.
  • MS program the applicant is willing to pursue
  • Income proof of the co-applicant
  • University, the applicant, is looking to apply to

Now, let's move on to the documents that are the key to applying for an unsecured education loan for MS in USA for Indian students through GoStudy. The required documents include the following:

  • Loan application form
  • Family income proof, like property proof of income tax returns
  • Academic transcripts
  • Standardized test scores
  • Birth certificate
  • KYC documents or Aadhaar Card
  • PAN Card
  • Bank statements for the past six months
  • Acceptance letter from USA university
  • Residential proof
  • Self-declaration

Collateral for Education Loan for MS in the USA through GoStudy

Undoubtedly, the procedure of availing a secured education loan for MS in the USA through GoStudy is no cakewalk. This can be a time-consuming procedure but not anymore if you avail of the services of GoStudyLoans. A secured education loan for a master's in the USA through GoStudy has its benefits, one of which is the availability of these loans at low-interest rates.

In India, banks and NBFCs offering the best education loan for MS in the USA through GoStudy accept two types of collateral security. These include:

  • Liquid security like term insurance policies, government bonds and fixed deposits
  • Immovable security like flats, houses, and non-agricultural land.

For the best education loan for masters in the USA through GoStudy with collateral, banks also accept third-party collateral like securities of the borrower's relatives and friends where the borrower can pledge their property as loan security provided the relatives and friends are ready to do so.

The process to avail of an education loan in India for MS in USA through GoStudy begins the day you start looking for financial institutions, their education loan schemes, rates of interest and loan amounts as per your requirement.

The method of getting an education loan for master's in USA for Indian students through GoStudy sanctioned is as follows:

  • You need to show the offer letter or acceptance letter from the US University to the chosen bank.
  • After meeting loan eligibility criteria, the education loan for MS in the USA for Indian students through GoStudy is sanctioned with the loan sanction letter forwarded to the university as proof of funds.
  • Next, the university will deliver the I-20, an important document you will need to apply for a student visa from the US embassy.

Several NBFCs and banks that offer unsecured education loans for MS in the USA through GoStudy require the borrower to submit different documents. These documents can vary as per the student's profile, bank and other factors.

Below is the list of documents you need to get an education loan for master's in the USA through GoStudy without collateral:

  • KYC of the applicant and the co-applicant
  • Relevant mark sheets of the applicant
  • Residence and citizenship proofs of the applicant and co-applicant
  • Admission proof
  • Basic academic qualification records of the applicant
  • Form-16 or the income tax return of the cosigner for the loan
  • Fees Structure
  • Co-applicant's bank statements

If you do not know the documents you might require to get a secured or unsecured education loan for master's in the USA for Indian students through GoStudy, you can contact GoStudyLoans. With us, you can get a customized list of all documents you must submit to expedite the loan application procedure.

University-Wise Pre-Approved Amount for Education Loan for MS in the USA through GoStudy

Several financial institutions and banks in India offer you an education loan for MS in the USA through GoStudy. As one of the most well-known study-abroad destinations in the world, the USA has much to offer to overseas postgraduates. It is not just one of the most popular destinations for overseas study but is also one of the largest nations with 50 states and more than 4500 higher education institutions. Among these, approximately 1700 institutions offer Master's degrees.

Below is a list of USA universities pre-approved by banks for education loans for masters in the USA through GoStudyLoans:

List of Universities accepted by Unsecured Education Loan through GoStudy

GoStudy’s Unsecured Pre Approved Education Loan Amount

Syracuse University 60 Lakhs
George Washington University 65 Lakhs
New Jersey Institute of Technology 65 Lakhs
University of Florida 65 Lakhs

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Co-Applicant for Education Loan for MS in the USA without Collateral through GoStudy

Since young students trying to avail themselves of the best education loan for MS in USA through GoStudy do not have a reliable credit history, most loan-providing organizations and lenders in India ask them to have a co-applicant. The co-applicant for the best education loan for masters in the USA through GoStudy is the second party legally responsible for loan repayment if the borrower cannot repay the loan amount.

The main job of the co-applicant is to take up this huge responsibility to pay back the loan amount and interest. Here, note that the interest rate on your education loan in India for MS in USA through GoStudy can differ as per the creditworthiness and background of your loan co-signer. The co-signer's income, relationship, age and net worth are some of the most important factors determining the co-applicant's creditworthiness.

The list of perfect co-signers for an unsecured education loan for master's in the USA for Indian students through GoStudy is as follows:

  • Parents
  • Spouse
  • Parents-in-law
  • Siblings
  • Paternal uncles and aunts
  • Maternal uncles and aunts.

Eligibility Criteria for Education Loan for MS in the USA through GoStudy

It is easy to understand the eligibility criteria for education loans for masters in the USA for Indian students through GoStudy. The first thing needed for an education loan for MS in the USA for Indian students through GoStudy is a confirmed, unconditional, or firm offer letter from your chosen university in the USA. The offer letter stands as proof of the fact that you have satisfied all the requirements for your admission to the US University. Also, this offer can even be revoked at any time. Besides the offer letter, there are various other requirements you need to satisfy for an education loan for MS in the USA through GoStudy. These include:

  • You must be an Indian citizen and over 18.
  • Should have minimum 50% scores in high school and graduation
  • Have been accepted at a US university of choice.
  • Should have secured admission to the MS course in a US university after passing the required entrance examinations.
  • Should be able to present income-proof documents.

Documents Required for Education Loan for MS in the USA through GoStudy

When providing an education loan for masters in the USA through GoStudy, banks and NBFCs in India verify your authenticity as a student and that you have successfully secured admission to a well-known university in the USA. They do so to ensure your potential to repay the education loan for a master's in the USA for Indian students through GoStudy. Here are the basic documents which you need to submit for a bank to process your education loan for MS in USA for Indian students through GoStudyLoans:

  • Filled in the loan application form
  • Income document of the co-signer
  • Co-signer's KYC details
  • All education certificates
  • Proof of admission or an offer letter from the US university of choice
  • Residence and citizenship proof
  • Complete course details with fee structure
  • Documents of all qualifying examinations like TOEFL/GMAT
  • Co-applicant's IT returns
  • Passport copy
  • PAN card and various other identification proofs of the co-applicant and borrower
  • Details of liabilities and assets of guarantors, co-applicants or parents.

Note that the document requirements for the best education loan for MS in USA through GoStudy can vary according to the rules of different banks. Therefore, it is always a good idea to check the documents you need to submit to avail the best education loan for Master's in USA through GoStudy from a particular bank.



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Process & Procedures for Education Loan for MS in the USA through GoStudy

With GoStudyLoans, you can complete the loan application procedure for an education loan in India for MS in the USA through GoStudy and get a loan offer within just 10 minutes. First of all, you must complete the loan application form filling procedure online and provide all important details on the application profile page. Then, you will receive a loan offer instantly. You need to accept this loan offer online and then choose the amount you need against your education loan for MS in the USA through GoStudy, along with the tenure. Once you have a detailed discussion with the credit team at GoStudyLoans, you will receive a provisional sanction letter.

Sanction & Disbursement of Education Loan for MS in the USA through GoStudy

Once your education loan for a master's in the USA through GoStudy is approved, you need to upload all required documents and pay an affordable processing fee to avail of the official sanction letter. It is required to apply for an I-20 form and a US student visa. Once you get the I-20 and your US student visa, you must upload the same on your application form. Next, you will receive a loan agreement letter that needs to be signed by both parties. Funds are transferred to the university for MS in the USA directly to cover all expenditures.

Moratorium for Education Loans for MS in the USA Through GoStudy

The moratorium period for education loans for masters in the USA for Indian students through GoStudy is the period during which a student or borrower does not need to make any loan repayment to the bank. This period can vary from one bank to another and can last up to some time post-course completion.

Repayment for Education Loans for MS in the USA Through GoStudy

You must repay your education loan for MS in the USA for Indian students through GoStudy in EMIs or equated monthly installments for approximately 15 years for all loan categories, secured and unsecured. Loan repayment starts from 6 to 12 months after course completion. Nevertheless, the installment amount can differ as per loan and bank amount. Partial monthly interest repayments are needed during the course to build a good credit score.

Here you will find different repayment options for the best education loan for MS in the USA through GoStudyLoans:

  • Simple Interest
  • Partial Simple Interest
  • EMI
  • Full Moratorium Period

Tax Benefit for Education Loan for MS in USA under Section 80E of IT Act through GoStudy

Under Section 80E of the Income Tax Act of India, as a borrower of the best education loan for masters in the USA through GoStudy, you can get a tax exemption on the interest rate you need to pay on your loan, but only if you take the loan from a public sector bank. So, make sure to factor in this tax benefit when calculating the interest rate on your education loan for MS in the USA through GoStudyLoans.


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  • Loan without parents income

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