Getting an education loan, especially for studying abroad, is not as simple as it sounds. The process for a foreign education loan is lengthy because lenders consider many factors, including your credit history, the loan amount, the type of institution to which you're planning to get an admission.

Opting for a program at a renowned institute improves the chances of education loan approval. Apply for foreign education loan with select lenders, including banks, NBFCs and other private organisations, both Indian and international. Applying for loans in too many banks can hurt your credit score. Good credit score increases chances of education loan approval. Also, apply for scholarships from the university.