Education Loans to Study in France Made Simple

France stands out as a leading study destination, offering a mix of academic excellence, cultural richness, and globally ranked universities. With hundreds of programs taught in English, especially in management, fashion, engineering, and public policy, it’s become an increasingly popular option for Indian students. If finances are holding you back, an education loan can open the door.

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Cost of Studying in France for International Students

Although tuition in public universities in France is quite low, even to foreign students, living in a capital such as Paris, Lyon, or Toulouse is not cheap. Here’s a breakdown:

Course Level Average Tuition Fee
Undergraduate €2,770 per year (public university)
Postgraduate €3,770 per year (public university)
Doctoral €380 - €600 per year (public university)

Note: Private institutions and Grandes Écoles may charge significantly higher, ranging from €8,000 to €20,000+ per year, depending on the course and university.

The average cost of living in France for international students depends on the city and lifestyle, with monthly expenses outlined below.

Expense Category Average Monthly Cost (€)
Accommodation (Rent) €300 - €800
Food & Groceries €200 - €300
Transportation €30 - €75 (student discount passes)
Utilities (Electricity, Internet, etc.) €50 - €100
Health Insurance €20 - €40 (student coverage)
Personal & Misc. Expenses €100 - €200

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Types of Education Loans for France

Indian students planning to study in France have various categories of education loans available to them. All alternatives differ in collateral, loan coverage, and flexibility.

Lender Type Collateral Requirement Loan Features
Public Sector Banks Usually required Low interest rates, tax benefits, and longer processing time
Private Banks Depends on profile Faster approval, mid-range interest rates, flexible terms
NBFCs / International Lenders Often not required Quick disbursal, 100% cost coverage, and higher interest rates

Indian Public Banks (e.g., SBI, BoB, UBI)

  • Loan amount: Based on your course & living costs, up to INR 1.5 Cr
  • Interest rate: 8% – 11% (girls may get subsidies)
  • Collaterals: Required, typically up to 95% of collateral value.
  • Why it works: Tax benefits under Section 80E
  • Nomad’s help: Get matched with right banks based on your needs.

Private Banks (ICICI, Axis, IDFC FIRST)

  • Interest rate: 9.5% – 13%
  • Flexibility: May offer special schemes for French universities
  • Repayment: Starts after course + moratorium
  • Nomad’s bonus: We check if your university qualifies for special schemes

NBFCs (Credila, Auxilo, Avanse, InCred)

  • Pros: Broad course & university coverage, up to 100% funding
  • Cons: Needs strong cosigner (CIBIL 750+)
  • Interest rate: 11% – 14%
  • Terms: Installment disbursed per semester
  • Nomad support: Personalized lender matching

Who Qualifies for French Education Loans?

Before applying, ensure you meet the basic eligibility criteria that lenders typically expect from Indian students planning to study in France.

  • Indian citizen, aged 18+
  • Admitted to a recognised French university
  • English (IELTS/TOEFL/PTE) and possibly GRE/GMAT (course-dependent)
  • Strong cosigner or collateral (per lender type)

Documents Required for a French Education Loan

Preparing the right set of documents early can significantly speed up your education loan approval process.

  • Admission letter from a French university (or offer letter)
  • Cost of attendance estimate
  • Saver documents or collateral deeds
  • Identity & residence proof
  • Academic records – 10th, 12th, graduation mark sheets & certificates
  • Valid passport (student and co-applicant)
  • Proof of identity (Aadhaar, PAN)
  • Proof of residence (utility bill, Aadhaar, rental agreement)
  • Bank statements, income proof (for applicant & cosigner)
  • Passport-size photos of the applicant and co-applicant

Application Steps for France Education Loan

Here’s a quick breakdown of the typical process students follow to apply for and receive an education loan for France.

Step 1: Run Nomad Credit’s Loan Finder tool, custom matches to lenders

Step 2: Choose loan type (secured/unsecured) based on access & preference

Step 3: Submit documents and complete the bank/NBFC application

Step 4: Loan disbursement is usually split: university fees + living stipend

Step 5: Repayment starts after course + moratorium (6 – 12 months)

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France Education Loan Repayment: What Indian Students Should Know

Once your studies are over, you’ll enter the repayment phase. Here’s what to expect in terms of timelines and interest structures.

  • Moratorium: Course duration + 6 – 12 months
  • Repayment period: 10 – 20 years
  • Interest: Fixed or floating; simple or part-simple interest options.

Tip: Paying interest during studies reduces overall cost.

Frequently Asked Questions

Can I get an education loan to study in France?
Yes, many Indian lenders, including public banks, private banks, and NBFCs, offer loans for France.
Public banks offer education loans in France at 8% to 11%, while private banks range from 9.5% to 13%. NBFCs typically charge interest rates of 11% to 14%, depending on the borrower's profile and lender.
Yes, unsecured loans are available without collateral, primarily through private banks and NBFCs. A strong co-applicant with good credit is usually required.
You can get up to 100% coverage of tuition and living costs. Loan amount depends on your university, course, and financial profile.
Repayment begins after the moratorium period, which includes your course duration plus 6 - 12 months post-completion.
Yes, many lenders have custom schemes for Indian students applying to top French universities. Nomad Credit helps identify the right options.