Education Loan Eligibility Calculator
Estimate your maximum borrowing capacity for domestic or overseas higher education based on co-borrower income, existing EMIs, and course category.
Explore specialized student loan simulators, moratorium calculators, government subsidies, tax deductions, and bank presets:
Financial & Course Profile
📋 How to Increase Your Loan Eligibility:
- Add a second earning co-borrower (e.g., both parents or spouse).
- Clear short-term personal loans or credit card balances to free up FOIR.
- Opt for a longer repayment tenure (up to 15 years) to lower EMI impact.
Frequently Asked Questions
How is education loan eligibility calculated by banks?
Banks calculate student loan eligibility based on three main pillars:
1. Co-Applicant's Monthly Income & FOIR: Fixed Obligation to Income Ratio (typically allowing 50% to 65% of net monthly income toward loan EMIs).
2. College & Course Reputation: Premier institutions (IITs, IIMs, Ivy League, top global universities) qualify for higher collateral-free limits.
3. Collateral Valuation: Tangible property or fixed deposits enable loans up to ₹1.5 Crore to ₹3 Crore ($150k–$300k).
How much education loan can I get without collateral?
Under IBA and RBI guidelines, education loans up to ₹7.5 Lakh ($20,000 to $50,000 globally) require no collateral security or third-party guarantor. Premier institute lists (such as SBI Scholar loans) offer up to ₹40 Lakh to ₹50 Lakh without collateral.
Who can be a co-applicant for an education loan?
Primary co-applicants include parents, spouse, or siblings. For study abroad loans with private NBFCs (like HDFC Credila or Avanse), first-degree relatives such as maternal/paternal uncles or aunts may also be accepted.
What minimum CIBIL score is required for an education loan?
A credit score of 700 or above for the co-applicant is generally required. If the co-applicant has existing debt or a lower score, pledging collateral or adding an earning co-borrower significantly boosts approval chances.