Starting at 2.79%* per annum
Student Loan to Study in the USA
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Why Choose Nomad Credit?
₹2 Cr
Maximum loan amount
20+
Lenders Compared
72 Hrs
Average sanction time
Zero
Hidden Fees
Benefits of Nomad Credit
₹10 Billion+ in loans processed across 9+ countries
Loan upto ₹2 Crore*
Upto 100% Finance
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Find the Right USA Education Loan
Compare USA education loans from 20+ lenders including public banks, private banks, and NBFCs. Whether you need a secured education loan with collateral, a collateral-free education loan, or an education loan without co-applicant for the USA, Nomad Credit matches you to the right lender based on your university, profile, and loan amount. From SBI and ICICI to Prodigy Finance and MPower, we cover every lender type so you get the best interest rate, fastest sanction letter, and full documentation support — all at zero cost.
Education Loan Options for USA
Understand which loan type fits your profile, university, and financial situation. We will match you with the best fit after your eligibility check.
US Cosigner Loan
- US Cosigner Loan 2.84% p.a. Onwards
- Up to $100,000 to $200,000 Exclusive loan
- Disbursed and repaid in USD. No INR to USD forex risk on the repayment option.
- A US cosigner needed with a green card and a credit history
No-Collateral Loan
- No Collateral Loan 8.33% p.a. onwards
- Up to ₹75 lakh (approx. $90K)
- No property or FD required for ideal for top 100 US university admits
- Repay in INR or USD
No-Cosigner Loan
- Loan Without Co-signer 9.5% onwards
- Upto Up to $100,000
- 100% Financing for Education Expenses
Get Expert Admission Guidance
Helping students worldwide choose top universities and secure their dream admits.
Top Lenders for USA Education Loans
| Lender | Type | Interest Rates* | Key Highlight |
|---|---|---|---|
| Earnest | International Private Lender | Starting from 2.84% | Competitive rates for students with a strong cosigner and flexible repayment terms |
| Sallie Mae | International Private Lender | Starting from 3.45% | Cosigner loans with flexible repayment options and fast approvals |
| Prodigy Finance | International | Starting from 9.66% | No cosigner. Postgraduate programs only. Repayment in USD |
| MPOWER Financing | International | Starting from 9.99% | No cosigner. USD disbursement and repayment. 3 to 5 day approval |
| Auxilo Finserve | NBFC | Starting from 10% | Collateral-free. Covers all study-related expenses, including a laptop |
| InCred Finance | NBFC | Starting from 11% | In principle approval within 48 hours |
| Avanse Financial Services | NBFC | Starting from 10.5% | 100% cost of attendance covered. Fully digital application |
| Credila Financial Services | NBFC | Starting from 9% | India's first dedicated education loan NBFC. 100% cost coverage |
| Canara Bank | Govt Bank | Starting from 8.25% p.a. | Covers tuition and living expenses for US programs |
| Union Bank of India | Govt Bank | Starting from 8.30% p.a. | Wide branch network, covers full cost of attendance |
| Bank of Baroda (Baroda Scholar) | Govt Bank | Starting from 8.15% p.a. | The premier university list gets lower rates and relaxed margin norms |
| SBI (Global Ed Vantage) | Govt Bank | Starting from 9.15% p.a. | Lowest rate in the market. 0.5% concession for female applicants |
Talk to a Education Loan Expert Today!
Who Can Apply: Eligibility for US Education Loans
- Citizenship - Indian citizen (select lenders consider NRIs)
- Admission - Offer letter from a recognized US university. I-20 needed before disbursement.
- Academics - Minimum 60% aggregate. GRE or GMAT scores can improve loan terms.
- With a US cosigner - A US-based cosigner with a green card and strong credit history
- Without Cosigner (No Cosigner) - A study abroad loan without a cosigner is available via No Indian co-applicant, no US cosigner, and no collateral required.
- Age - Minimum 18 years. No upper age limit for PG programs.
- University - Accredited US institution. The top 100 to 200 ranked universities get the best rates.
Documents Required for USA Education Loan
Get your paperwork ready before applying. It speeds up approval significantly.
Student (Applicant) Documents
Co Applicant Documents
- Aadhaar, PAN, and current address proof
- Last 6 months’ bank statements (savings account)
- US residency proof + Financial statement (US cosigner)
- Salary slips for last 3 months or proof of business income
- Form 16 for salaried co applicants Net worth statement (required by most NBFCs)
University and Program Documents
- Admission offer letter
- Fee structure or official cost of attendance breakdown
- Scholarship letters if applicable, Enrollment confirmation letter
Collateral Documents
- Property title deed or sale deed
- Latest property tax receipt
- Approved building plan for residential property
- FD certificates if FD is being offered as collateral
- LIC policy bond with surrender value statement, Latest encumbrance certificate (EC)
Visa Impact & Tax Benefits
Will a Loan Hurt My F-1 Visa Chances?
Not at all. A sanctioned education loan can strengthen your US student visa (F-1 visa) application by demonstrating that you have a clear and reliable plan to finance your studies in the USA. During the visa interview, proof of funds is an important requirement, and an approved education loan from a recognized lender serves as valid financial documentation.
- Recognized as valid proof of funds
- Shows financial readiness for your education
- Adds credibility when issued by reputed lenders
Plus, You Get Tax Benefits
Under Section 80E, Indian borrowers can claim tax deductions on education loan interest payments.
5 Easy Steps to Get Your USA Education Loan
01 Profile Evaluation
Share your university, program, and loan amount. We identify the right loan type for you.
02 Lender Matching
We compare your profile across 20+ lenders and shortlist the best options with real rates.
03 Document Upload
Upload once. Our team will send your documents to all shortlisted lenders.
04 Loan Approval
We follow up with lenders on your behalf, and it takes between 3 and 15 days.
05 Disbursement
Tuition goes directly to your university. Living expenses released to you each semester.
Disclaimer: Interest rates and lender selection are subject to the applicant’s profile, eligibility criteria, credit assessment, university, course, and other lender-specific factors as per US regulations.
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
Can I get a Study Abroad Loan USA without a co-signer?
Yes. MPOWER Financing and Prodigy Finance both offer a study abroad loan without a co-signer, designed specifically for international students. No Indian co-applicant, no collateral, and no property are required.
What is the maximum amount I can borrow for an education loan to study in USA?
For secured loans through SBI or Bank of Baroda, you can borrow up to ₹1.5 crore. For unsecured education loans for abroad through NBFCs like Credila or Avanse, the limit is typically ₹75 lakh. MPOWER offers up to $100,000 in USD, and Prodigy Finance covers up to 100% of your university's official cost of attendance, which can exceed $100,000 for top US programs.
Do I need collateral for an unsecured loan for study abroad in the USA?
No. Several NBFCs offer genuine unsecured loans for study abroad, requiring no property pledge. Credila, Avanse, and InCred offer collateral-free loans up to ₹75 lakh for strong profiles. MPOWER and Prodigy Finance go further and require no collateral whatsoever, no Indian co-applicant either.
Is the I-20 mandatory before applying for a Foreign Education Loan for USA?
Most Indian lenders will begin processing your foreign education loan for USA with just the offer letter. The I-20 is needed before the final disbursement is released. We recommend initiating the loan process immediately after receiving your admission letter and submitting the I-20 as soon as your visa is in progress.
Which is better for an education loan for study in the United States: a bank or an NBFC?
It depends on your priority. Government banks like SBI offer the lowest interest rates but take 2 to 4 weeks and require collateral above ₹7.5 lakh. NBFCs approve faster, sometimes within 48 to 72 hours, and offer unsecured education loans for abroad up to ₹75 lakh. If you need a Study Abroad USA Education Loan quickly, or you do not have collateral, an NBFC or international lender is typically the better route.
What expenses does a Study Abroad Loan USA typically cover?
Most lenders cover tuition fees, accommodation, food, travel (economy class return ticket), books, a laptop, health insurance, and other study-related expenses. Public sector banks typically cover up to 90% of the total cost of attendance. NBFCs and international lenders can cover 100%. Always confirm the cost of attendance breakdown with your university before finalizing your loan amount.
Confused? No worries.
We're here to help you find the right loan option for you
Disclosures
*Rates starting at 2.84% APR (Annual Percentage Rate). This represents our lowest available fixed interest rate and includes a 0.25% discount for enrollment in AutoPay from a qualifying checking or savings account. Advertised rates are subject to change at any time without notice. Your actual rate will be determined based on your credit profile, loan amount, and repayment term at the time of application. Some borrowers may receive higher rates than advertised. AutoPay discount may be removed and rate will increase by 0.25% if automatic payments are cancelled.
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