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Education Loan for Master's in USA

MS, MBA & MIM loan comparison - secured vs collateral-free, lender-by-lender rate table, eligibility checker, and sanction letter for F-1 visa in 7 days.

20+

Lenders on Platform

2.84%

Lowest rate (p.a.)

₹2 Cr

Max loan (secured)

10B+

Students funded

Program-Wise Breakdown

Choosing the right program before you shortlist universities shapes your loan amount, repayment timeline, and long-term financial plan.

MS in the USA

Research or coursework-based. Best suited for STEM graduates looking for deep specialization and the STEM OPT benefit of 3 years of work authorization in the U.S.

Popular disciplines: CS, AI, Data Science, Engineering, Life Sciences

The best loan for MS in USA offers a longer moratorium period, since most programs restrict full-time work during the course. Look for lenders allowing repayment to begin 6–12 months after graduation.

MBA in the USA

The education loan for MBA in the USA for Indian students often covers tuition, living costs, and travel, and lenders take post-MBA salary projections seriously when assessing repayment capacity.

Popular disciplines: Finance, Consulting, Marketing, Strategy

The best loan for MBA in USA is usually one that offers a longer moratorium period, since MBA programs do not allow full-time work during the course. Look for lenders who allow repayment to begin 6 to 12 months after course completion.

MIM in the USA

The education loan for MIM course USA framework applies here too, since many lenders treat MIM programs similarly to MBA for loan assessment purposes.

Popular disciplines: Business Analytics, Finance, Management

Since MIM programs in the USA limit full-time work, the best loan is one with a longer moratorium ideally starting repayment 6–12 months after course completion.

Compare All Lenders for Master's in USA — Rates & Terms

All lender data in one table. Filter by collateral requirement or program type using the buttons below.

Earnest

Interest rate starting at 3.47%

Loan Amount:

Full COA

Processing Fee:

Zero Processing Fee

Tenure:

5/7/10/12/15 Years

Loan Type

No-collateral with U.S Cosigner

Moratorium Period:

Course Duration + 9 Months

Sallie Mae

Interest rate starting at 3.47%

Loan Amount:

Up to USD 175k

Processing Fee:

Zero Processing Fee

Tenure:

Up to 15 Years

Loan Type

No-collateral with U.S Cosigner

Moratorium Period:

Course Duration + 6 Months

Prodigy Finance

Interest rate starting at 3.47%

Loan Amount:

Up to USD 220K

Processing Fee:

4% + $500

Tenure:

7-20 Years

Loan Type

No-collateral with U.S Cosigner

Moratorium Period:

Course Duration + 6 Months

M Power

Interest rate starting at 3.47%

Loan Amount:

Up to USD 100K

Processing Fee:

5%

Tenure:

Up to 10 Years

Loan Type

No-collateral with U.S Cosigner

Moratorium Period:

Course Duration + 6 Months

Avanse

Interest rate starting at 3.47%

Loan Amount:

Up to INR 2 Cr

Processing Fee:

1% Loan Amount + 18% GST

Tenure:

Up to 15 Years

Loan Type

No-collateral with U.S Cosigner

Moratorium Period:

Course Duration + 9 Months

Credila

Interest rate starting at 3.47%

Loan Amount:

Up to INR 2 Cr

Processing Fee:

1% Loan Amount + 18% GST

Tenure:

Up to 15 Years

Loan Type

No-collateral with U.S Cosigner

Moratorium Period:

Course Duration + 1 Year

ICICI Bank

Interest rate starting at 9%

Loan Amount:

Up to INR 2 Cr

Processing Fee:

INR 30,000 + 18% GST

Tenure:

Up to 15 Years

Loan Type

Collateral & No-collateral

Moratorium Period:

Course Duration + 1 Year

Incred

Interest rate starting at 11%

Loan Amount:

Up to INR 85 L

Processing Fee:

0.5% – 1% of Loan Amount + 18% GST

Tenure:

Up to 15 Years

Loan Type

Collateral & No-collateral

Moratorium Period:

Course Duration + 1 Year

Auxilo

Interest rate starting at 10%

Loan Amount:

Up to INR 1 Cr

Processing Fee:

0.5% – 1% of Loan Amount + 18% GST

Tenure:

Up to 15 Years

Loan Type

Collateral & No-collateral

Moratorium Period:

Course Duration + 1 Year

Talk to Our Expert Counsellor Today!

Unlock the best opportunities for higher education abroad. Our experts will help you choose the right university, program, & country to match your career goals!

Score Required for Master Loan in USA

Score requirements by program type and university tier. Use this as your target benchmark before you register for any exam.

Program / School Tier	GRE Total	GRE Quant	GMAT	TOEFL iBT	IELTS	Min. GPA (4.0)	Source
MS — Top 20	320 to 325	165 to 170	Not required	105 to 110	7.5	3.5+	ETS GRE / ETS TOEFL
MS — Top 50	315 to 320	163 to 168	Not required	100 to 105	7.0	3.2++	ETS GRE / ETS TOEFL
MS — Top 100	308 to 315	158 to 163	Not required	90 to 100	6.5	3.0+	ETS GRE / ETS TOEFL
MBA — M7	GRE accepted	—	730 to 760	105 to 110	7.5	3.5+	GMAC GMAT / ETS TOEFL
MBA — Top 25	GRE accepted	—	700 to 730	100+	7.0	3.2+	GMAC GMAT / ETS TOEFL
MIM — Top programs	310+	—	670+	90+	6.5	3.0+	GMAC GMAT / IELTS
GRE Optional Schools (2026 to 2027)	Optional	Optional	Optional	90+	6.5	3.0+	ETS TOEFL / IELTS

Top Education Loan Lenders for Master's in USA

Below is a comparative overview of the major lender categories offering a Study Abroad Loan USA for Master’s programs.

Lender	Type	Moratorium	Key Features
State Bank of India (SBI)	Public Sector Bank	Course + 12 months	Lowest rates, govt backed, tax benefit under 80E, long repayment tenure up to 15 years
Bank of Baroda	Public Sector Bank	Course + 6 months	Baroda Scholar scheme for top universities, covers full cost of attendance, no prepayment penalty
HDFC Credila	Private NBFC	Course + 12 months	Fast processing, pre admission sanction available, dedicated study abroad focus
Avanse Financial Services	Private NBFC	Course + 6 months	100% cost of attendance covered, quick turnaround, flexible repayment options
Auxilo	Private NBFC	Course + 12 months	Student friendly underwriting, considers future earning potential, fast digital process
ICICI Bank	Private Bank	Course + 12 months	Instant sanction for select universities, forex services bundled, strong branch network
Axis Bank	Private Bank	Course + 12 months	Top university list for faster approval, education loan linked forex card available
Prodigy Finance	International Lender	Course + 6 months	No co applicant needed, USD loan, covers top ranked universities globally, fully online
MPOWER Financing	International Lender	Course + 6 months	No credit history needed, no co applicant, visa support letter provided, fully online

Education Loan Eligibility for Master's in USA

What Lenders Check in 2026 — Academics, Co Applicant, and Documents

Before applying for a USA Overseas Education Loan, understanding what lenders look for can save time and reduce the risk of rejection.

Student Eligibility Criteria

University Admission – Valid I-20 or offer letter from a SEVP-approved U.S. university. Most lenders will not process your education loan to study in the USA without this.
Academic Profile – Minimum 60% in a Bachelor’s degree (3.0 GPA equivalent). Higher scores can improve both the chances of approval and the interest rate offered.
Course Relevance – Your Master’s program should align with your undergraduate background. Mismatched profiles face more scrutiny, especially for STEM Education Loan USA applications.
Citizenship – Must be an Indian national. NRIs have separate eligibility criteria and should check with their chosen lender directly.

Co Applicant Eligibility Criteria

Income Stability – Salaried: minimum ₹30,000 to ₹40,000 per month net take-home. Self-employed: minimum 2 years of stable ITR filing history.
Credit History – CIBIL score of 700 or above is strongly recommended. Defaults or late payments can reduce the loan amount or increase the interest rate.
Relationship to Student – Parent, sibling, or spouse accepted by most lenders. Close relatives with documented financial dependency are considered by NBFCs and private lenders.
Employment Status – Must be actively employed or running a business at the time of application. Retired parents may qualify with additional income documentation.

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F-1 Visa: What Changes After Your US Admit

Once you receive your I-20, the visa process formally begins. Here is what Master’s students specifically need to know.

Master’s graduates in STEM fields are eligible for 3 full years of Optional Practical Training work authorization. This gives you 12 months of base OPT plus a 24-month STEM extension, which means enough runway to find H-1B sponsorship without the constant pressure of visa deadlines.

This is also one of the main reasons lenders view STEM Education Loan USA favorably. The post-study earning potential is high and measurable. 12 months base OPT + 24 months STEM extension = 3 years of work authorization in the U.S., leading to an H-1B pathway.

F-1 Visa Documents Required

At the Visa Interview - Master's Specific Tips

Talk to Our Expert Counsellor Today!

Unlock the best opportunities for higher education abroad. Our experts will help you choose the right university, program, & country to match your career goals!

How to Apply for an Education Loan Through Nomad Credit:

One application. Multiple lender offers. Zero fee. No multiple CIBIL hits.

01. Share your profile

Share your university admit letter, course details, and the loan amount you need with our expert.

02. Lender Match

We match you to the best 3 to 4 lenders based on your academic profile, loan amount, collateral availability, and urgency.

03. Document Submission

Upload your documents once. We share them with all matched lenders so you do not have to repeat the process for every application.

04. Receive and Compare Offers

You receive multiple loan offers. Compare interest rates, processing fees, moratorium periods, and sanction timelines side by side on one screen.

05. Sanction Letter

Accept the offer that works best for you and receive your sanction letter in time for your F-1 visa interview.

Why Nomad Credit Is the Smart Choice

Nomad Credit connects Indian students with the right education loan lenders for abroad studies, whether you need a PSU bank, NBFC, or student loans without a co-applicant through international lenders. Get a curated shortlist, full documentation support, and your sanction letter before your visa deadline.

500+ International University Tie-Access to global lenders

Personalized loan comparisons based on your profile

Faster approvals with minimal paperwork

Support from expert education loan advisors

End-to-end help – from loan selection to disbursement

Expert End to End Education Loan Assistance

Trusted by Thousands of Graduates

Real People. Real Savings.

As I was heading for MBA at Columbia, I got in touch with Nomad team regarding the financing. They were super helpful and always approachable. This involved sitting with me on calls as I fill forms, helping with US cosigner doubts, helping me process all the applications. I highly recommend them!!

Anusha Goel

Columbia Business School

I’m really grateful to Nomad team for all the help and support. From the very first step, they were always just a call away. Thanks to them, the whole process felt so much smoother and less stressful. I’d happily recommend them. They truly go above and beyond for the people they works with!

Vibhuti Luthra

NYU Stern School of Business

I got in touch with Anchal regarding financing options as I head for an MBA at Stanford. She helped me get to know about all the available options with utmost patience. In the end, I was able to get a highly competitive interest rate with her help, which turned out to be the best option available in the market!

Yash Maheshwari

Stanford Graduate School of Business

Ganesh was my case manager at Nomad Credit. He helped me secure 2 student loans, 1 for each year of my MBA at UCLA Anderson. It is not always straight forward for international students to get student loans in the US, but Ganesh walked me through the whole process step by step, making it as stress free as possible. Highly recommended!

Jack Du

UCLA Anderson School of Management

Nomad Team helped me get the best possible option for my financing needs. They made sure that I got the most updated and consistent information to make the right decision towards the most important aspect of my studies i.e. money management. They were always there to help me and have a great attitude towards helping others.

Abhishek Pasricha

University of Southern California

Working with your team was an incredibly smooth and reassuring experience. A special shoutout to Karan and Deepesh, who truly went above and beyond at every stage and making sure everything was on track despite tight timelines. I’m genuinely grateful to have had such a supportive team by my side, I couldn’t have done it without you!

Sourav Mehra

UVA Darden School of Business

Since, I was doing this for the first time, I had a lot of questions. The team very patiently answered all my queries and consistently supported me from filling-up my application to document verification until I had received my loan confirmation. Overall, I really appreciate Nomad’s help in navigating me through my loan application process.

Shubham Malviya

Kellogg School of Management

Your unwavering support, particularly in navigating the challenge of securing a loan without collateral, has been truly remarkable. Special thanks to Shweta ma’am. Your service and commitment to helping students like me achieve their dreams have made a profound impact, and for that, I am deeply thankful.

Shakib Shaikh

Aston University

I’m incredibly grateful to Poonam and the entire Nomad Team for their outstanding support throughout. Their guidance was clear, timely, and tailored to my specific needs. I highly recommend them to anyone pursuing international education. They’re knowledgeable, professional, and genuinely invested in your success.

Akanksha Dilip Mhaisne

Kent State University

Thanks Sulekha & Nomad Credit for assisting me throughout. You also helped me boost my confidence personally in the entire process. I am grateful, you were there to resolve my every doubt regarding visa interview questions and any query I had. At the end, thanks once again for helping me achieve F-1 visa for the USA.

Jaspreet Kaur

University of Maryland

Your exceptional guidance made my master’s application process smooth and stress-free. You were always available and willing to answer my queries with patience and clarity. I highly recommend Nomad to anyone seeking professional guidance for their higher education journey.

Arshan Bhanage

San Jose State University

Frequently Asked Questions

What is the maximum loan amount I can get for a Master's degree in the USA?

Most Indian lenders offer up to ₹1.5 Crore for studying abroad. International lenders like Prodigy Finance can go up to $220,000 USD, depending on your university and program. The actual amount sanctioned depends on your university's cost of attendance, your co-applicant's income, and whether you offer collateral. A Foreign Education Loan for USA through public sector banks usually covers tuition, living expenses, travel, and other course-related costs.

Can I get an education loan for an MS in the USA without collateral?

Yes. Several NBFCs, including HDFC Credila, Avanse, and Auxilo offer collateral-free education loan for MS in the USA up to ₹50 Lakh to ₹75 Lakh depending on the university. International lenders like Prodigy Finance and MPOWER Financing require no collateral at all. However, collateral-free loans typically carry a higher interest rate than secured ones.

Which is the best loan for MBA in the USA?

There is no single best answer because it depends on your collateral availability and whether you want a rupee or dollar-denominated loan. For rupee loans, SBI and HDFC Credila are consistently popular for the education loan for MBA in USA for Indian students due to their high loan limits and long moratorium periods. Prodigy Finance is a strong option if you prefer a dollar loan with no collateral and no co-applicant requirement.

What is the interest rate for a Study Abroad Loan USA in 2026 to 2027?

Interest rates for a Study Abroad USA Education Loan currently range from around 10.15% per annum for public sector banks at the lower end to 15.99% for international lenders at the higher end. Rates vary based on whether the loan is secured or collateral-free, your co-applicant's credit profile, and the lender's assessment of your university and program.

Do I need a sanction letter for my F-1 visa?

Yes. A sanction letter from your lender serves as proof of financial support during your F-1 visa interview. Visa officers want to see that your education and living costs are covered for the duration of your program. Nomad Credit aims to get your sanction letter within 7 to 12 days of completing your application.

Can I get an education loan for a Master's in the USA without a co applicant?

International lenders like Prodigy Finance and MPOWER Financing do not require a co-applicant or co signer. However, most Indian lenders do require a co-applicant for any loan above ₹4 Lakh. If you are applying through a domestic lender, a co-applicant with a stable income and a clean CIBIL score significantly improves your approval chances and can also bring your interest rate down.

How long does it take to get a loan sanction for studying in the USA?

Through Nomad Credit, most students receive their first loan offer within 4 to 8 days and a final sanction letter within 7 to 12 days. Public-sector bank processes can take 3 to 6 weeks when approached directly. Starting your loan application immediately after receiving your I-20 is strongly recommended.

Is an education loan for MBA course USA different from an MS loan?

The documentation and eligibility processes are broadly similar, but lenders weigh them differently. For the education loan for MBA course USA, lenders often ask for work experience proof and place more emphasis on the applicant's post-MBA earning potential. MBA loans at top schools like Wharton or Booth also tend to attract larger loan amounts due to the schools' placement records.

What documents do I need to apply for a Masters Education Loan USA?

The core documents typically required are your I-20 or offer letter, undergraduate mark sheets and degree certificate, entrance exam score cards (GRE or GMAT), valid passport, last 6 months of bank statements for the co applicant, last 2 to 3 years of income tax returns for the co-applicant, and property documents if you are applying for a secured loan.