Study Loan For Studying In France: Cost of Studying, Banks, Interest Rates

Education loan for studying in france

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Picture of Shivani Mani

Shivani Mani

Lead, Student Success - FundRight

From Bonjour, Bon appetit, to some good old fashioned wine and cheese, who wouldn’t fancy experiencing French life, especially as a student. 

France houses some of the world’s top universities, including more than 30 QS ranked universities. 

There are more than 3,500 public/private universities and other institutes offering undergraduate, postgraduate, diploma and PhD courses.

In the academic year 2020-2021, over 10,000 Indian students moved to France to pursue their passion. 

Top Reasons to Study in France

As a student, if you need more logical reasons to study in France other than the iconic Eiffel Tower, Louvre Museum, Notre Dame Cathedral or the Disneyland, then here are a few: 

  • Speaking of the quality of education, France has bagged the 8th best position globally and is the top 5th in Europe.
  • Studying in France is comparatively cheaper as compared to many other European countries. 
  • International students can work part-time in France. Some of the jobs you can take up are – a nanny, an English tutor, tour guide, restaurant executive, retail work etc. 
  • The minimum hourly wage in France is about € 7.61 (₹621.09). This implies that you can earn up to €7900/year (₹6,44,790) in France by just working part-time. 
  • International students in France can apply for a one-year work permit, after their education.
  • France also offers a post-study visitor visa of 5 years for master’s and PhD students to keep roots with the country. 

Tip: Foreign students are also required to clear TOEFL/ IELTS for English language proficiency along with DELF/DALF/TCF/TEF to prove French language ability. Learn more. 

Now, if you are all-in to study in France, let’s quickly break down your cost of study in France. 

Cost of Studying in France for an International Student

Even with the modest and affordable tuition fees, the expenses of studying abroad are a considerable sum.  

To effectively plan your study in France, learn about the costs you will incur if you study in France: 

  • University Fees:

Some of the best courses to study in France are Business studies, Aviation, Philosophy, International Relations, Culinary Studies, Film Studies and Fashion. 

The university fees range in France start from as low as 380 to € 30,350.

Here are some of the best universities in France and their fee structures:

Universities  Cost (Euro) Cost (INR)
Université PSL (Paris Sciences & Lettres) 380 – €3,770/year ₹30,788 – ₹3,05,502/year
Ecole Polytechnique €38,000/year ₹30,79,408/year
Sorbonne University €10,000/year ₹8,10,470/year
Centrale Supelec  €7880 – €18,344/year ₹6,32,166 – ₹14,86,726/year
HEC Paris €24,850 – €30,350/year ₹20,14,017 – ₹24,59,776/year
Polytechnic Institute of Paris €16,800/year ₹13,61,926/year
ENS Paris – Saclay University €793/year ₹64,284/year
Université Grenoble Alpes €499 – €1422/year ₹40,425 – ₹1,15,172/year
Université de Paris Panthéon- Sorbonne €3,228 – €4394/year ₹2,61,438 – ₹3,55,874/year
Sciences PO €13,1900 – €25,000/year ₹10,68680 – ₹20,25,550/year

However, to ease your study expenses the French and Indian government offer scholarships. 

Scholarships might include covering your cost of education, equipment, the cost of your living in France etc. 

SUGGESTED READ: Scholarships for Indian Students to Study Abroad

  • Student Visa:

Once you’re selected to study abroad, the next expense you will incur is your student visa. 

The type of visa you need depends on the duration of your stay in France. 

In addition to that, to secure a French student visa you’re required to display a sum of € 615/month as proof of sufficient funds to pursue the course abroad. 

This implies that you will need to show €7,380 for a one year course in France.

Visa  Duration  Cost  Cost (INR)
Schengen short-stay student visa 3months/ non-renewable Free  Free 
Temporary long-stay visa (VLS-T) 3-6 months/no residence permit €50 ₹4080
Long-stay visa (VLS-TS) 4 months – 1 year/ eligible for a residence permit. 99 ₹8034

Apart from the visa, foreign nationals secure medical insurance of € 30,000 to cover health insurance and related services in France.

  • Flight Fares:

The French universities commence their academic year during September/October and end around May/June.

The cheapest month to fly to France is during February when the flight tickets cost around ₹20,000 – ₹30,000 for a one-way ticket. 

The flight fares are most expensive around June/July. On average, flight fares range from  ₹40,000 to ₹60,000. 

Booking in advance can also help you save on your expenses.

  • Accommodation:

International students can opt for campus accommodation or choose to rent an apartment. However, renting an apartment is expensive in France for a student. 

You can also choose to live with a host family to experience the typical ‘à la française’ lifestyle. In any case, you will incur: 

Type  Cost  Cost 
University residence halls €200 – €400/month ₹16,244 – ₹32,488/month
Private student residences € 500+ ₹40,484+
Apartments  € 400 – € 800/month ₹32,488 – ₹64,910/month
Living with a french family € 200 – € 800/ month ₹16,244 – ₹64,910/month

Help Tip: CROUS can help you find affordable accommodation

  • Transportation:

Commuting in France for students too is affordable. 

With a number of student discounts and affordable inter-city commute options, your transportation costs don’t sting you in the pocket. 

Here are a few basic prices to help you plan your budget and expenses. 

Type of transport Student rate Cost in INR
Transit in Paris  €342/year ₹27,757
Transit outside Paris €250-€300/year ₹20,299-₹24,358
Self-serve bicycle  €19-€29/year ₹1,542-₹2,355
SNCFdiscount card €50/year ₹4,059

It is generally a wise option for international students to opt for available France student transport discounts.

  • Food Cost:

One of the biggest expenses you incur while studying abroad is the cost you spend on your food.

Cooking your own meal helps cut down on your expenses in France.

But, students can generally expect to spend about €300 – €500/month in France on food, depending upon the city they live in and the regularity with which they visit restaurants. 

To give you a brief idea, here’s a list you can refer to

Food  Cost  Cost 
Baguette  €1 ₹81
croissant €1.10 ₹89
1kg of pasta €1.50 ₹121
1L of milk €1.20 ₹97
6 eggs €1.50 ₹121
Coffee  €2 ₹162
University meals  €3.25 ₹263.53
Fast Food €7 ₹567
Restaurant meals €10 – €20 ₹810 – ₹1621
Sandwich and drinks €5 – €8 ₹405 – ₹648
  • Other Additional Expenses:

The last regular expense you will incur during your study period will be any additional cost of stationery, internet, memberships etc. 

You can set aside €500/month for the same. 

France most certainly is a charming country. 

But, despite its affordability, the sum of money might not be easily accessible to many. 

Thus, to ease this for students, you have a number of banks who can help you with a student loan. We’ve gathered the list here for you:

Best Bank Loans for Indian Students to Study in France

To study in France, you can apply for secured loans with collateral such as fixed deposits with low-interest rates. 

Or you can opt to take an unsecured loan that is an education loan without collateral for France at a comparatively higher interest rate. 

The eligibility criteria for applying to any of these education loans to study abroad are: 

  • You need to be a resident of India. 
  • Should be between 18 to 35 years at the time of loan application.
  • Have confirmed admission to a recognized institution in France.
  • A co-applicant who can either be a parent or guardian is required.
  • Co-applicants should have a stable income source.

Listed below are some of the Indian bank education loan for abroad studies:  

Bank  Sector  Processing Fee  Maximum Loan Amount  Interest Rate  Period of Loan
Axis Bank Private At the discretion of the bank Upto 40 Lakhs Starting at 11.25%pa Course length + 12 years moratorium period
Bank of Baroda Public ₹10,000+gst 80 Lakhs 8.25% for boys, 7.75% for girls 15 Years
Canara Bank Public Nil ₹40 lakhs  6.90% to 8.80% p.a. 15 Years
Federal Bank Private Nil 2O Lakhs Up to 10.05% pa Course period and 5-7 Years
HDFC BANK Private 1000 OR 1% of loan 30 Lakhs 9.55% pa 15 Years Including moratorium
SBI Public 10,000 1.5 Crore 8.65% pa 15 Years
Punjab National Bank Public 1% of the loan amount, subject to a minimum amount of 10,000 As per requirement as repayment capacity RLR+BSP+2.00% onwards 15 Years
IDBI Bank Private Upto 2O Lakhs

(requires no collateral for up to 4 Lakhs)

6.75%- 8.65% 15 Years

By securing any of these education loans to study abroad, you will be one step closer to achieving your dreams. 

In addition to that, securing an education loan to study abroad via FundRight will help you bag the best deal to study abroad. 

FundRight assists you with the best bank for education loan for abroad studies.

Studying in France will exceed your expectations by giving you an enriching adventure with its diversity and multicultural experiences. 

Thus, keep in mind to plan your finances well prior to studying in France. 

Picture of Shivani Mani

Shivani Mani

Shivani, aka 'Sheen' brings in 15+ years of experience in banking & finance. An IIM-A alumna, she actively interacts with students & provides actionable solutions to their study abroad funding issues.

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