Finance Your Undergraduate Degree in the USA With a Student Loan
Why Choose the USA for Undergraduate Studies?
- World-class universities (MIT, Harvard, UCLA)
- Customizable majors and minors
- Three-year OPT for STEM graduates
- Powerful alumni networks worldwide
- High ROI graduate salaries
Average Cost of Undergraduate Education in the USA
Category
Tuition Fees
Rent (Shared Apt.)
Meals & Groceries
Transportation
Books & Supplies
Health Insurance
Personal / Misc.
Visa & SEVIS Fees
Airfare (RT India-USA)
High-Cost Metros (NYC, Boston, etc.) (INR)
₹51.4 – ₹60.0 lakh
₹10.3 – ₹16.3 lakh
₹4.1 – ₹5.1 lakh
₹1.5 – ₹2.1 lakh
₹1.0 – ₹1.3 lakh
₹1.7 – ₹3.0 lakh
₹1.3 – ₹2.1 lakh
₹0.44 – ₹0.46 lakh
₹0.80 – ₹1.50 lakh
Affordable Cities (Mid-West / South) (INR)
₹33.4 – ₹42.6 lakh
₹4.1 – ₹8.2 lakh
₹2.1 – ₹3.1 lakh
₹0.4 – ₹0.5 lakh
₹0.9 – ₹1.0 lakh
₹0.7 – ₹1.4 lakh
₹0.9 – ₹1.7 lakh
₹0.44 – ₹0.46 lakh
₹0.80 – ₹1.50 lakh
Understand Student Loans for the USA
Typical Loan Amount
₹15 lakh to ₹2 crore for undergraduate courses
Interest Rate Band
8 % – 14.25 % p.a.
Grace Period
Course duration with 6- to 12-month moratorium before full EMI begins
Repayment Tenure
Up to 15 years
Top Lenders for USA Undergraduate Student Loans
SBI Global Ed-Vantage with interest rates starting at 10.10 %
Bank of Baroda Scholar with interest rates between 7.90 – 12.90 %
Axis Bank Study Power with interest rates from 9%
Leap Finance with interest rates between 8.49 – 12 %
Avanse with interest rates from 8 %
MPower with interest rates between 9.99 – 11.16 %
InCred with interest rates between 11- 12 %
Compare UG Loan Offers for the USA From over 15 Lenders
Bank Name
Loan Amount
Interest Rate
Processing Time
Processing Fee
Upto 1.5Cr
10.25% - 12.5%
Secured: Up to 3 weeks Unsecured: Up to 1 week
0.75% - 1.25%
Upto 1.5Cr
10.5% - 13%
Secured: Upto 3 weeks Unsecured: Upto 1 week
0.75% - 1.25%
Upto 85L
11% - 12.75%
Upto 1 week
0.75% - 1.25%
Upto 1Cr
11.25% - 12.75%
Secured: Up to 3 weeks Unsecured: Up to 1 week
0.75% - 1.25%
Upto 75L
11% - 12.75%
Secured: Up to 3 weeks Unsecured: Up to 1 week
0.85% - 1%
Upto 1Cr
10.75% - 12.5%
Secured: Up to 3 weeks Unsecured: Up to 1 week
0.75% - 1%
Upto 3Cr
9.25% - 12.5%
Secured: Up to 3 weeks Unsecured: Up to 1 week
0.75% - 1%
Upto 1Cr
9.5% - 12.5%
Secured: Up to 3 weeks Unsecured: Up to 1 week
0.75% - 1%
Upto 75L
11.25% - 12.5%
Secured: Up to 3 weeks Unsecured: Up to 1 week
0.75% - 1%
Upto 1.5Cr
9.25% - 12.5%
Secured: Up to 3 weeks Unsecured: Up to 1 week
0.75% - 1%
Upto 1.5Cr
8.25% - 11%
Secured: Up to 3 weeks Unsecured: Up to 2 weeks
Secured: Rs. 20,000 Unsecured: Rs. 10,000
Upto $220k
8.47% - 13.5%
Automated process
500 USD + 4%
Upto $100k
9.5% & 9.99%
Up to 1 week
1% + 2%
Upto $100k
10.5% - 12.75%
Up to 1 week
200 USD + 2%
Upto $100k
9.99% - 14.99%
Automated process
6.50%
Documents Checklist for Loan Applications
Admission Proof
Offer letter from USA university or I-20 with fee schedule
Personal Identification
Passport, Aadhaar, PAN, recent photo and address proof
Collateral papers
For secured loans include title deed, tax receipt, or 30-year chain of ownership
Co-applicant Finances
Last 6-month bank statements, salary slips and IT-returns
Academic Records
Academic transcripts, including Class X/XII marksheets and SAT/ACT/GRE test scores
UnderGraduate USA Education Loan
Join the 200,000 students who funded US degrees with low-interest UG loans, trimming interest, currency risk, and service charges by substantial margins.
200,000+
students assisted
₹16,300 crore
loan requests processed
₹2,000 crore
disbursed in loans
Frequently Asked Questions
Are there non-collateral education loans for the USA?
Yes, some lenders offer collateral-free student loans for college in the USA. These loans usually carry a higher interest rate and may require a co-applicant with a stable monthly income.
Does the loan cover 100% of expenses in the USA or just tuition?
You can fund the full cost of attendance, including tuition, living, and insurance. Alternatively, some lenders fund up to 80% and provide the remaining 20% as margin.
Can I apply for a loan before getting admission to a university in the USA?
Yes. Lenders issue conditional sanctions that satisfy I-20 proof-of-funds and final disbursement follows admission or visa approval.
How to apply for student loans?
You can apply directly on GradRight to receive offers from over 15 lenders and get you loan approved in about 10 days without ever visiting a bank.
When do EMIs begin after graduation?
Repayment for the loan starts after the moratorium, which is usually the course length plus 6–12 months. Only simple interest accrues during this grace window.
Is a GRE score required for undergraduate loans for the USA?
Most undergraduate lenders ignore GRE and prefer a strong SAT/ACT or academic record. However, some fintechs do consider test scores when pricing risk.
