Study Abroad Funding — By Country
Education Loan for Study Abroad by Country
Funding rules differ by destination — how much you must prove, what the loan needs to cover, and when it is needed. Pick your destination for the specifics.
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Reflects the 2027–28 admissions cycle and lender terms current as of October 2026.
Why the country you choose changes the funding, not just the degree
Two students with an identical loan amount can face very different rules depending on where they are headed. The United States asks a university to certify the full first year of cost before issuing the I-20. The United Kingdom sets a fixed monthly maintenance figure that rose again on 30 November 2026. Canada requires a specific living-cost amount — CAD 23,448 from 1 September 2026 — on top of tuition. Australia asks for AUD 29,710. Germany, for most public universities, asks for very little tuition at all but a €11,904 blocked account for living costs. None of these are optional extras; they are the actual gate a visa officer checks, and the loan has to be sized to whichever one applies before the sanction letter is issued.
Post-study work rights differ just as much, and they changed across the board in 2026: the UK Graduate Route is now 18 months for applications from 1 January 2027 (was two years), Canada’s PGWP runs up to three years for master’s graduates, the US gives STEM graduates up to three years across OPT and its extension, and Australia’s subclass 485 typically runs two years for a taught master’s. Comparing these before you commit to a country is usually more consequential than comparing university rankings within one.
Plan the loan with the full picture
Each country page carries a stronger visual set: documents, EMI planning, lender comparison and destination funding.
The funding rule that matters most, by destination
USA
The I-20 needs the full first year of cost proven before it is issued. STEM graduates get up to 3 years of work authorisation (OPT + extension).
UK
£1,570/mo (London) or £1,203/mo (elsewhere) for up to 9 months, from 30 Nov 2026. Graduate Route now 18 months for new applicants from 1 Jan 2027.
Canada
CAD 23,448 in living costs plus tuition and travel, from 1 Sept 2026. PGWP up to 3 years for master’s graduates, exempt from the field-of-study list.
Australia
AUD 29,710 in living costs plus tuition and travel. Subclass 485 typically 2 years for a taught master’s.
Germany
€11,904 blocked account; little or no tuition at most public universities. 18 months to find work after graduating.
Ireland, France, Netherlands, New Zealand & Europe
Lower cost than the UK or US in most cases, with their own visa and proof-of-funds rules — covered on each country’s own page below.
Planning ahead: the 2027–28 admissions cycle
If you are applying from India for a Fall 2027 or later intake, a few things changed in 2026 that are worth building into your plan now rather than discovering them at the visa stage.
UK maintenance funds rose on 30 November 2026
Students applying for a UK visa now need to show £1,570 a month in London or £1,203 outside it, for up to nine months — up from the previous figures. Size the loan on the new numbers, not the old ones.
Canada’s living-cost proof is now CAD 23,448
For study permit applications from 1 September 2026, a single applicant must show CAD 23,448 in living costs on top of tuition and travel — many families fund this through a GIC from the loan disbursement.
The UK Graduate Route is now 18 months
For applications submitted from 1 January 2027, the post-study work visa runs 18 months rather than two years (PhD graduates keep three). It is worth weighing against Canada’s three-year PGWP for master’s graduates.
Fall 2027 deadlines start as early as November 2026
US Early Decision closes 1 November 2026, UCAS’s Oxbridge deadline is 15 October 2026, and most US master’s programmes close between December 2026 and January 2027. A loan assessment should start alongside the application, not after the offer.
Looking further out, most lenders are expected to keep rates broadly stable into 2028 barring a Reserve Bank rate move, and PM Vidyalaxmi’s coverage remains limited to identified Indian institutions rather than universities abroad. We track these changes and factor them into every funding plan we build.
Choose your destination
USA
The largest applicant volume, and the widest spread of loan sizes.
Education loan for USA →
UK
One-year master’s degrees, and a Graduate Route now set at 18 months.
Education loan for UK →
Canada
A living-cost rule (CAD 23,448) that the loan needs to cover alongside tuition.
Education loan for Canada →
Australia
Two-year degrees and a AUD 29,710 living-cost requirement.
Education loan for Australia →
Germany
Little or no tuition at public universities — often the lowest total cost.
Education loan for Germany →
Ireland
A growing alternative to the UK, with its own funding rules.
Education loan for Ireland →
France
Low public-university fees and a distinct visa process.
Education loan for France →
Netherlands
English-taught programmes at a lower cost than the UK.
Education loan for Netherlands →
New Zealand
A smaller, steadier applicant pool with its own post-study work route.
Education loan for New Zealand →
Rest of Europe
For destinations outside the countries listed individually above.
Education loan for Rest of Europe →Banks & NBFCs we can route your application to
Fund Abroad is not a lender. Our office is in Hyderabad, Telangana, and we support students across India digitally. We prepare your file and route it to the RBI-regulated bank or NBFC that fits your amount, destination and co-applicant profile. Every sanction decision, interest rate and repayment term is set by the lender, not by us.
Public and private banks
- State Bank of India (SBI)
- Axis Bank
- ICICI Bank
- IDFC FIRST Bank
- Punjab National Bank
- Union Bank of India
- YES BANK
NBFCs specialising in education loans
- HDFC Credila
- Avanse
- Auxilo
- InCred Finance
- Tata Capital
- Poonawalla Fincorp
- Prodigy Finance
Estimate your EMI before you apply
Enter your expected loan amount, course length and repayment term to see a monthly instalment estimate — use it to compare lenders before you commit to one.
This is a planning estimate for India students. Final EMI, moratorium rules, margin money and processing fees are set by the lender.
Documents lenders typically ask for
Exact requirements vary by lender and by whether the loan is secured or unsecured, but most applications from any destination move through the same four document groups. Getting these right the first time is the single biggest factor in how quickly a file moves.
Identity & academic
PAN, Aadhaar and address proof for applicant and co-applicant; 10th, 12th and degree mark sheets; the university admission or offer letter; English test scores where required.
Co-applicant income
Salaried: last 3 months’ payslips, Form 16 and 6 months’ bank statements. Self-employed: 2–3 years’ ITRs with computation, business registration or GST proof, and 12 months’ bank statements.
Collateral, where applicable
Property title documents, an approved valuation, and consent from every co-owner if held jointly. Not every loan needs this — many unsecured routes skip it entirely for recognised universities.
Cost & visa paperwork
The university’s fee schedule or cost-of-attendance letter, and later the I-20, CAS, CoE or study permit application, which the sanction letter is timed to support.
We check every document against the specific lender’s checklist before it is submitted — incomplete or inconsistent paperwork, not eligibility, is the most common reason a straightforward file gets delayed.
On timelines: with a complete file, NBFCs typically issue a sanction letter in three to five working days, and public-sector banks in seven to twenty, depending on the branch and whether collateral needs a physical valuation. Add a few days if documents need translation, notarisation, or a co-owner’s signature from another city. None of this is unusual — it is simply why starting the assessment alongside your application, rather than after the offer arrives, is what keeps a sanction letter ready when the university or consulate actually asks for it.
Frequently asked questions — choosing a country
Which country needs the least proof of funds?
Germany, for most public universities — a €11,904 blocked account is the main requirement since tuition is minimal. Canada and Australia set specific living-cost figures (CAD 23,448 and AUD 29,710) on top of tuition; the UK and USA tie funding proof to the visa or the I-20 directly.
Which country gives the longest post-study work visa?
Canada, at up to 3 years for master’s graduates, and the USA for STEM graduates at up to 3 years across OPT and its extension. The UK Graduate Route is 18 months for applications from 1 January 2027; Australia’s 485 is typically 2 years for a taught master’s.
Can I compare two countries before I decide?
Yes, and we would encourage it. The funding rule, the visa timeline and the post-study work rights all differ by destination, and the better comparison usually changes the shortlist more than a small ranking difference within one country.
Does Fund Abroad favour one country over another?
No. We are not a lender and have no preference between destinations. Our role is to lay out what each one actually requires and route your application to the lender that fits your profile and destination.
Not sure which country yet?
Comparing destinations with funding in mind often changes the shortlist. Speak to an advisor before you decide.