India is a hub of education. The sheer number of students (from India and abroad) seeking admission into the numerous universities and educational institutes (private and government) is astounding at undergraduate, postgraduate and doctoral levels.
With multi-year completion times, higher education can get expensive. This is especially true for high-demand professional courses like an MBA. Paying for a two, three or four-year degree out-of-pocket often becomes difficult. Several banks and financial institutions provide education loans to eligible students to help them complete their education without undue financial strain.
If you’re a parent considering financing your child’s education via an education loan or a student, you must first ensure whether the opted lies on the list of courses eligible for education loans. Confused where to get started? Worry not. This article covers the nitty-gritty of courses eligible for education loans in India.
List of Courses
To avail of education finance, you must be well informed about student loan approved courses, loan amount, loan process, interest rates, security, services, processing fees, documentation, and few other details.
To answer the question education loan available for which courses, here’s a list of eligible courses for education loan:
Type of Course
Name of course
Undergraduate degree and diploma
BA, BCom, BE, BEd, BSc, BBA, MBBS, B Tech, LLB. and others
Postgraduate degree or diploma
MA, M Com, MSc, M Res, LLM, MFA, M Ed, M Phil, MBA, MD, and others
Doctoral courses
PhD
Certificate courses
In Computers, Nursing, Teaching, job-oriented course, etc.
Diploma
In Engineering, Agriculture, Veterinary courses, any job-oriented course, etc.
Degree/Diploma
In Army, Navy or Air-Force training courses, Aeronautics or any other relevant Pilot Training courses
Miscellaneous
Other courses run by the State Skill Mission or National Skill Development Corporation
Nowadays, owing to the increased popularity of short-term courses for soft skills, animation, English learning, catering, spoken English, data science, Artificial Intelligence (AI), digital marketing, event management etc., are also eligible for loans. However, it is advisable to check with the lender if they offer an education loan for short term courses.
General eligibility criteria for obtaining an education loan in India include:
Applicants are only eligible if they secure admission to universities recognized by the University Grants Commission (UGC)/Government/All India Council for Technical Education (AICTE), AIB Merchant Services (AIBMS), Indian Council of Medical Research (ICMS), etc.
Applicants are only eligible if the Government of India recognizes the institutional courses they enrol in, like ICWA, CFA, CA, etc.
Applicants enrolling in degree or diploma courses in Aeronautics, shipping, pilot training or related courses are eligible if the colleges offering these courses are further approved by the Director General of Civil Aviation/Shipping/Indian Nursing Council.
From the education loan course list and the eligibility criteria above you can see that a wide range of educational courses in India is applicable for education loans to assist meritorious and deserving students in pursuing a rewarding academic career. With a sound educational footing, you can carve a path for yourself and find lucrative job opportunities in whichever field you deem fit. Before taking an education loan to study almost any course from an accredited institution, compare lenders to see if they’ll finance your chosen programme.
Benefits of Education Loans
Besides providing you with affordable access to top-class education in premier institutes, education loans in India offer tons of perks. With Tata Capital, you can comfortably borrow a higher loan amount along with swift and hassle-free loan sanctions at minimal fast-track documentation. Further advantages include:
This brings us to the end of courses eligible for education loans. An education loan can help you complete your education at the university or institute of your choice without straining your finances. Moreover, such personal loans could be used to pursue full-time or part-time courses in management, engineering, architecture, medicine, law, culinary, aviation, arts, media studies, mass communication, marketing, design, hotel management, etc.
Enrolled in one of the education loan eligibility courses and looking to finance your educational aspirations? Turn to Tata Capital for flexible and customisable education finance solutions to achieve your academic degrees without compromising your goals. Enjoy competitive personal loan interest rates and comfortably pursue eligible courses and degrees which would otherwise be heavy on your pocket.
06 May 2025
4 mins read
Previous Post
