Fulfilling your dream of studying in the United States often comes with a significant cost. Fortunately, several options are available to fund your dream of studying abroad in the USA. Some of the most popular options for funding your education abroad in the USA include education loans, scholarships, grants, and other forms of financial aid.
Among these, an education loan from Leap Finance can be a great solution to your funding problem. Want to know how to get it? Let’s begin:
Table of Contents:
- Why Leap Finance for Your USA Study Loan?
- How to Apply for a Leap Finance Loan for the USA
- Documents Required to Apply for a Leap Finance Loan
- Simplify Your Leap Finance Loan for Studying in the USA with Nomad Credit
- Frequently Asked Questions
Why Leap Finance for Your USA Study Loan?
Choosing Leap Finance can make a big difference in your study abroad loan in the USA. There are several reasons why you should choose Leap Finance for a USA study loan. Some of the top reasons are:
| Reason | Details |
| No Collateral Required | Offers loans based on future potential and not on your or your family’s assets |
| Competitive Interest Rates | Starting at 8.45% |
| Quick Processing | Loan sanction in as quick as 3 days |
| Simple & Fast Process | 100% online application with minimal documentation required (due to no collateral) |
| Flexible Repayment Options | 36-month grace period with a repayment period of up to 15 years |
How to Apply for a Leap Finance Loan for the USA
To be able to apply for a Leap Finance loan for the USA, you must fulfill the eligibility requirements. You must be applying to or admitted to one of the courses Leap Finance funds. Applying for a Leap Finance study loan for the USA is very easy & quick. They make it easy for students to secure loans due to their fast online application process. Here’s how you can apply for a Leap Finance loan for the USA:
Step 1: Online Application
Go to the official website of Leap Finance and choose your choice of university and program. You can check your offer in 10 minutes without any documents.
Step 2: Claim Offer
Once you have received your education loan offer, claim and accept it. Choose the amount as well as the tenure of your loan.
Step 3: Discussion
The team from Leap Finance will call you to know you better and answer your questions and doubts (if any).
Documents Required to Apply for a Leap Finance Loan
The Leap Finance education loan for studying abroad does not require extensive documentation. However, here are some of the essential documents required for student loans:
Student:
- Fully completed and signed application form
- 2 passport-size photographs (both Applicant and Co-applicant)
- University’s letter of admission
- Cost break-up of the program from the university
- Academic record
- Affidavit or Declaration stating that the applicant does not have any other loan
- ID proof (any one) – Passport, PAN card, Voter’s ID card, Driving License, Aadhaar card, etc.
- Address proof (any one) – Driving license, Ration card, Voter’s ID card, Passport, Aadhaar card, etc.
- Age proof (any one) – Birth certificate or Class 10th certificate
- Visa approval letter and travel papers
Co-Borrower (Salaried)
- Address proof
- Identity proof
- Last 3 months’ salary slips or salary certificate
- Last 2 years Form 16 or last 2 years of Income Tax Returns
- CIBIL report
- Other income proof (if any)
Co-Borrower (Self-employed)
- Address proof
- Identity proof
- Latest 6 months bank statement
- Last 2 years of Income Tax Returns
- Proof of office (any one) – (lease deed, utility bill, or the title deed)
- CIBIL report
- Other income proof (if any)
Simplify Your Leap Finance Loan for Studying in the USA with Nomad Credit
Studying abroad in the USA on your own can be overwhelming. However, getting a student loan should not be complicated. With Nomad Credit’s support and Leap Finance’s loan solutions, you can fulfill your dreams of studying abroad in the USA. Here’s how Nomad Credit assists you:
- Offers free consultation (based on your profile) from top experienced experts
- Best loan options suited to your needs and profile
- Visa and SOP assistance
Frequently Asked Questions
Can I get an overseas education loan in India?
Yes, you can getan overseas education loan in India from private banks, public banks, NBFCs, and international lenders. However, you must fulfill the bank’s eligibility requirements to submit a successful loan application.
What is the processing fee for Leap Finance study loans for abroad?
Leap Finance charges a $500 sanction fee for obtaining a sanction letter and a 4% processing fee at the time of the fund request for study abroad loans.
Is collateral required for the Leap Finance foreign education loan for the USA?
No, Leap Finance does not ask for collateral for its foreign education loan for the USA. They offer loans based on your potential, not on your (or your family’s) assets.
Who can apply for Leap Finance’s abroad education loan for the USA?
Any student planning to pursue a Master’s or postgraduate program in STEM courses at a US university can apply for Leap Finance’s abroad education loan for the USA.
What is the repayment tenure for a Leap Finance education loan for study abroad?
The repayment tenure for a Leap Finance education loan for studying abroad is 15 years, with a 36-month grace period. However, you are required to pay a monthly payment of $100 when you start your program.
