Education Loan for Studying Abroad: A Quick Guide

Studying abroad is a dream for many students, but managing the financial side can feel overwhelming. That’s where education loans come in — making your global education dream possible without putting all the pressure on your family.

🎓 What is an Education Loan?

An education loan is financial support provided by banks or financial institutions to cover your tuition fees, living expenses, travel, insurance, and more. You repay the loan over time — usually after you’ve completed your studies.

✅ Key Features of Education Loans

1. Covers major costs: Tuition, living, books, health insurance, airfare, etc.
2. Grace Period: Repayment usually starts 6–12 months after graduation.
3. Low Interest Rates: Especially with government schemes or collateral loans.
4. Flexible Repayment Plans: Usually 5–15 years, depending on the bank.

🌍 Can You Get a Loan for Studying in the USA?

Yes! Many Nepali banks and financial institutions provide education loans for students heading to the USA and other countries. You’ll need:

1. A Letter of Admission from a university
2. Valid documents (passport, academic certificates, etc.)
3. A co-signer/guarantor (like a parent or guardian)
4. Sometimes collateral (like land or property)

🤝 Loan Support from GoingCollege

GoingCollege has partnered with some of the top A-class banks in Nepal to offer education loans to deserving students in an express and easy process. We're currently finalizing all the partnership details.

👉 Stay tuned — we’ll soon publish a full list of partnered banks and a step-by-step guide on how to apply for a loan through GoingCollege.

💡 Final Tip

If your family is concerned about budget, education loans are a smart way to manage finances — especially when you know you can work part-time abroad and repay the loan after graduation.