Study Loan Without Security?

Raghuram Sukumar Admission 11 Comments

I get lot of questions asking for ways to get student loan in USA as an international student or loan in India without collateral.

Hello everyone! My name is Abhinav. I am preparing for my GRE for Fall 2012 session.

I have a problem with Study Loan.

My family don’t have any good financial support to me. I am very good with my Academics with 80% in B.Tech in Mechanical and Diploma with 73%. Now i want to study in USA.

I am looking for the Education Loan, but my family don’t have the security to show for the loan. Can anyone help me in knowing if there is any possibility to get the education loan?

Student Loan without Security

Abhinav, I’m not sure if there is a bank in India that gives Education Loan without security.

Your best bet is to get admission with scholarship. Publish few research papers and get high score in New GRE.

  1. Bank Statements and Required Bank Balance for USA
  2. 12 Step University Selection for USA

Pick right universities based on your interest. If you get admission with full scholarship, your parents financial burden will be less.

Interest rates are much cheaper here in USA compared to India, but you need a co-singer to get a loan. So, best bet to get admission with financial aid.


  1. What will be the possibility of loan, if i have the security (flat) in my name but no co-borrower? (My parents dont have any income).

    1. Go for Indian Bank they will never look for your parents income unlike other private banks in India..the process time is bit longer but i got it in 15days since i had all the property documents of my uncle..I dont think banks will offer loan without collateral security..

    2. As far as I believe, its good that you have the flat in your name. You can be responsible for your own loan and wouldnt need a co-borrower at all.

  2. What will be the possibility of loan, if i have the security (flat) in my name but no co-borrower? (My parents dont have any come and they are unemployed). My family is taken care by maternal uncle. No one is willing to become co-borrower.

  3. show ur reltives as sponceror for visa …. u can also get loan withour security upto 4 lakhs

  4. Where is the logic of giving Loans to people who have everything? To get a loan, you have to show good Income of your parents, plus they should be paying IT returns. When a person has good income and a government job, he is bound to get a loan. But what about the lower-middle class?? Most people have Businesses and are self-employed. So naturally they dont pay IT returns. Plus most of them do not have great income. Where do they go to get loans??
    CREDILA: Credila asks for parents or any Blood-relative with income >40,000/Month with IT returns. Plus the repayment starts from the 1st month of borrowing itself-in the name of interest(Around 15-18000/month). This is totally absurd! If you have distant relatives who are willing to sponsor for your loan, Credila does not accept it. They need Blood relatives. Plus the rate of interest in around 14%. Where Can the common man go?? Please suggest something.

  5. Hello Abhinav,
    It’s great to know of your interest to pursue your higher studies. I agree with HSB, and emphasize on the fact that: If you are able to publish a few research papers, your chances of getting a scholarship gets exponentially high.
    I am from NIT Trichy, and I know a few seniors from my college who had CGPA ranging from 7.2 to 8, but had a few research papers(few in national journals, and few in international). One of them got into NUS, one of them in CMU, and others elsewhere. I have witnessed this work. Having published work proves your worth more than anything else.
    All the best, go for it 🙂 🙂

  6. I have =4lakhs in hand and want to pursue MS.I dont have any assets to get a mortagaged bank loan.I am a 60% graduate with 2 Years of IT experience. I have applied for GRE on June 28th.However my mother is a govt. teacher and father is also a govt employee retiring next year(2013).I read in lot of websites that bank will sponsor education loan without mortgage(security/collaterel) upto7.5 lakhs. But I am very worried whether I will get a loan with my mom’s surity signature.
    Even If I get a min6-7 lakhs loan, Will it be enough to go to US and survive there for some months and start earning?(My main motto is to earn)
    Please let me know your suggestions.I have dropped out of the GRE before since there was no confidence that I have enough money to pursue MS.THese 2 Years I have been saving money for MS(which summed to 4lakhs).NOt even a penny I used to take out of my sal.
    Thanks for the help.This blog has been really helpful!!

    1. 6-7lakhs + 4lakhs.Would it be enough for 1 Yr and can I survive or pay tution fee after that continuously working on a part time?

      1. Also even if I get the loan…….Visa and colleges ask for security or valid financial documents……I dont have any relatives offering me that much amount on my name.Please et me know If I should have to go for fake securities on my name for Universities and Visa interivew?

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