Education Loan
Finance for studies in India or abroad, covering fees and related costs, with repayment after the course.
Documents to keep ready
Nayaasa is a loan advisor, not a lender. This is what lenders typically ask for, and yours may differ. Approval is the lender's decision.
Applying jointly? Each person gives their own documents. Choose each type in turn.
What to expect
Typically; each lender sets its own.
What it covers
Fees, hostel, exams, library, books and equipment, a computer up to 20% of tuition, refundable deposits up to 10%, and travel abroad.
Your share
Nil up to ₹4 lakh. Above that, 5% for studies in India and 15% abroad.
Security
Up to ₹7.5 lakh, a parent or guardian as co-borrower and no collateral. Above that, collateral too.
Repayment
Starts one year after the course, and runs up to 15 years.
Rules and schemes that apply
PM-Vidyalaxmi
For students admitted on merit to listed institutions: no collateral or guarantor, with a 75% government guarantee on loans up to ₹7.5 lakh. Management and NRI quota seats are left out, and Aadhaar is mandatory.
Help with the cost
Under PM-Vidyalaxmi, a 3% subvention on loans up to ₹10 lakh for family income up to ₹8 lakh, and full subvention for technical and professional courses at family income up to ₹4.5 lakh.
Figures last checked November 2026.
Who it suits
- Students admitted to graduate, postgraduate, technical or professional courses
- Parents or guardians who will co-sign
- Students going abroad, including for job-oriented courses
How it works
Tell us about the course
The institution, the course, the cost and who will co-sign.
We look at the options
The schemes and lenders that suit the course and the family's income.
Gather the documents
We give you the list for your case and check each file before it goes to a lender.
The lender assesses
The lender checks the admission, the course and the co-applicant.
Sanction
If the lender agrees, it issues a sanction letter, which often helps with a visa.
Disbursement
Money usually goes to the institution, in stages as fees fall due.
Common questions
Who has to co-sign?
Usually a parent or guardian. Choose what they do in the list above to see their documents.
When does repayment start?
Typically one year after the course ends.
Is PM-Vidyalaxmi for every college?
No. It covers students admitted on merit to listed institutions, so check yours is on the list.
Does Nayaasa approve the loan?
No. Nayaasa is a loan advisor, not a lender. The final decision and the terms are the lender's.
Other loans we arrange
Let's Build Your Brighter Tomorrow
Get in touch with our advisors for guidance on the loan that fits your plans.