Education loan for studying in the USA
A US master's is usually the largest education borrowing an Indian family takes: two years, high tuition and high living costs. That size is what drives every other decision — it is frequently above an unsecured cap, which makes security the first question rather than the last.
Size drives the decisions
- Unsecured caps bind here. A limit that covers a one-year UK master's often does not cover two years in the US.
- A partly secured loan is usually cheaper than an unsecured one plus a gap filled elsewhere.
- Assistantships change the arithmetic — if funding materialises, you borrow less, but you cannot count on it when applying.
- The I-20 states the cost, and lenders size the loan against it.
Borrow against the I-20 figure rather than against your own estimate. It is the number the university and the visa both work from.
Timeline
- Start the loan when you accept, not when you have the I-20 — assembling documents is the long part.
- A sanction letter supports the visa interview, where funding is asked about directly.
- Visa appointment availability is the binding constraint in peak season; have the loan ready before it.
See /visa-guide/usa/financial-requirements for what must be shown, and /education-loan/education-loan-processing-time for working the dates backwards.
Lenders covering the USA
12 lenders from the twelve we list, with the rate each one publishes and how old it is on their own page.
For the USA — FAQs
2 questions
Size it against the I-20, which states the university's own figure for tuition and living costs. That is the number the lender and the visa both use.
Often yes, because the amounts commonly exceed unsecured caps. A partly secured loan is usually cheaper than the alternatives.
Not sure which lender fits? A counsellor compares what you would actually be offered across all twelve — free, and with no application.
Sources
Checked against these sources on 1 October 2026.