Education Loan to Study in France 2025

Currently more than 6,000 of them coming from India. The French government aims to welcome 20,000 Indian students to the country by 2025. This can be an excellent opportunity if used wisely, as France offers new endeavors like learning a second language, exploring research in new areas, and more. Studying abroad can be financially challenging, and to make your learning experience stress-free, an education loan can be useful. In this blog, we will discuss the education loan options available for France.

Cost of Studying in France

Studying in France is considerably cheaper than usual study abroad destination choices, such as the USA, UK, or Canada. This is because the government provides subsidies to public universities, which results in lower tuition fees. Even private universities in France have lower tuition fees when compared to countries like the USA, UK, Canada, and Australia. Due to this cost advantage, France has been rising in popularity as a new study-abroad destination.

The tuition fee for the Bachelor's program is around EUR 2,770 per annum, and for the Master's program, it is EUR 3,770 per annum. Additionally, French universities charge a small annual admin fee for international students. The cost of living in France can vary from city to city, but on average, the cost of living in France is considered to be around EUR 1,100 per month.

Eligibility Criteria For Education Loan In France

To successfully get admitted to a French university and obtain an education loan for studying in France, you would need to fulfill the below-mentioned eligibility criteria:

• You must be a minimum of 18 years and an Indian citizen. 
• You must have applied to a recognized French university for a full-time program.
• You should have an excellent past academic record. 
• Strong career prospects for unsecured loans, and collateral for secured loans.

Expenses Covered In an Education Loan for France

The different expenses which are covered under the education loan for France are - 

• Tuition fees
• Travel expenses 
• Caution deposit money
• Accommodation expenditures
• Purchase of books, laptop, and stationery
• Study tours and project work during the academic year
• Other reasonable expenses that would be required to complete the course successfully.

Secured Education Loan for France

A secured education loan for France is a type of education loan in which you would be required to pledge collateral/security. Thus, this is also called an education loan with collateral. Collateral can include property (such as a house or land), fixed deposits (FDs), or insurance policies. This type of loan typically offers several benefits, including lower interest rates, extended repayment periods, and the potential for higher loan amounts to be approved. Public sector banks are preferred due to their large loan amounts, lower interest rates, and other benefits over private banks and NBFCs. Below is a table that showcases different lenders and their offerings in terms of secured education loans.
 

Read More About: Jain Jagruti Education Loan

Unsecured Education Loan for France

As the name suggests, an unsecured education loan for France does not require you to pledge collateral and thus it is also called an education loan without collateral. Being an education loan this is not asking you to put in a security, the interest rate can be a bit high as compared to public sector banks.

Three types of lenders can provide you with education loans for France. They are private banks, NBFCs, and international lenders. Let's look at the particular lender offering in the table given below - 

Lender Name	Maximum Loan Amount	Rate of Interest	Margin Money
Axis Bank	Up to 50 Lakhs INR	11% - 13.50%	5%
ICICI Bank	Up to 50 Lakhs INR	10.85% - 12.50%	0 - 15%
IDFC FIRST Bank	Up to 35 Lakhs INR	11.75% - 13.25%	Nil
HDFC Credila	Up to 20 Lakhs INR (Only STEM Courses)	12% - 13%	Nil
Avanse	Up to 20 Lakhs INR (Only STEM Courses)	12.75% - 13.25%	Nil
Prodigy Finance	Up to 100,000 USD	12% - 14%	Nil

 

Choosing The Best Lender

We understand that having more choices can make it complicated to choose the right lender. However, don't worry! We have prepared a list of factors that can assist you in comparing lenders and finding the one that aligns best with your needs. These factors will help you evaluate and choose the perfect lender for yourself:

Document Requirements For Student Loan In France

Now that you know how to choose the best lender, it is essential to understand the documents required to complete your loan application process seamlessly. The documents requirements for getting an education loan to study in France are shown in the list below:

• Letter of admission from the University
• Loan application form filled out in full
• Documents on the cost of studies
• Identification proof
• Residence proof
• PAN details of the candidate
• Guarantor/ co-borrower/ student's bank statements
• Guarantor/ co-borrower/ student's statement of assets
• Guarantor/ co-borrower/ student's proof of income.

How To Get Education Loan for France?

Acquiring an education loan for France is a straightforward process. However, dealing with multiple lenders individually can be overwhelming. To simplify this, GyanDhan offers streamlined assistance in obtaining education loans for France through the following steps:

• Check your eligibility on GyanDhan's platform.
• Connect with a dedicated loan expert for personalized assistance and lender recommendations.
• Receive a customized document checklist for easy organization.
• Submit the required documents as per the lender's guidelines.
• Await verification (usually 7 to 15 days). Once approved, sign the agreement and monitor progress on GyanDhan's user dashboard.
• Initiate loan disbursement following the lender's procedures, with funds directly deposited into your account or disbursed to the university by international lenders.

Reasons Why You Should Study in France

Although, if you've reached this far in the blog, there's no need to convince you to study in France and explain why it's a good study abroad destination. However, below are some reasons why you should consider studying in France - 

• You don't have to worry about language barriers in France. Schools like the Paris School of Business and others teach international students entirely in English.
• In the Global University Employability Ranking 2022, 18 French universities, including renowned business schools like HEC Paris and ESSEC Business School, hold prominent positions on the list.
• There are various scholarships available that you can apply when planning to study in France as the government here promote higher education by giving out scholarships. 
• International students with valid student visas are allowed to work up to 964 hours per year while studying in France. This opportunity enables students to take on part-time jobs on or off-campus, providing them with a means to supplement their financial resources.

 

From everything that has been discussed above, it is evident that in the coming years, France will be one of the top study abroad destinations for Indian students. The country provides unique advantages such as learning a second language and exploring areas of study that are not well established in other places like fashion, film-making, and more. GyanDhan, the education financing expert, can make your journey seamless. Check your loan eligibility with GyanDhan to find the best lender and receive a customized document checklist. We will help you in the entire process free of cost. Embrace an extraordinary educational adventure in France, supported by GyanDhan's expertise. Don't miss the chance to make your dreams of studying in France a reality!

 

Read also:

• Guide on Education Loans for Canada
• Guide on Education Loan for MS in Canada
• Guide on Education Loan for MS in the USA
• Education loan to Study in USA for Indian Students

 

Frequently Asked Questions

Is France an expensive country to study in?

 

France is not expensive when compared to other European countries. Their public universities have very low tuition fees and the majority of city excluding Paris has a low cost of living as well. 

What is the highest amount available for an unsecured education loan to pursue studies in France?

 

If you are looking for an unsecured education loan then you can get an amount up to 50 Lakhs to study in France. 

How I can improve my eligibility to get an education loan for France?

 

Here are several strategies to enhance your eligibility for securing an education loan for France:

• Achieve excellent academic performance and grades.
• Gain acceptance into prestigious universities and educational institutions in France.
• Present a robust financial profile.
• Exhibit stable employment prospects after completing your studies.

Can I work while studying in France?

 

International students with valid student visas are allowed to work up to 964 hours per year while studying in France.