Currency risk
Repayments are in dollars or euros. If the rupee weakens, your EMI in rupees rises.
No co-applicant
Education Loan Without a Co-Applicant for Abroad Studies: 2027 guide
If your parents have no income proof or you'd rather not involve them, the realistic route is an international lender that lends against your future earnings, provided your university and program are on its list.
- No co-signer, no collateral
- Supported schools only
- Loan in foreign currency
- Higher cost than secured loans
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Quick answer
Education Loan Without a Co-Applicant for Abroad Studies
Indian banks and NBFCs almost always require a co-applicant. Without one, the main option is an international lender such as Prodigy Finance (postgraduate study at supported schools worldwide) or MPOWER Financing (supported schools in the US and Canada). They assess your admit, course and expected earnings instead of a co-signer or collateral. MPOWER says it has paused new loans for 2026, so line up Prodigy Finance or an Indian lender as well.
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Options
Your options without a co-applicant
Trade-offs
What to weigh before choosing
Total cost
Rates and fees are usually higher than secured Indian loans. Compare the total repayment, not only the rate.
Coverage
Caps may not cover a full 2-year MS; you may need savings for the gap.
Credit history abroad
Repaying on time builds a credit history in the US or Canada, which helps later.
FAQs
Frequently asked questions
Still have a question?
Ask a counsellor directly — we reply on WhatsApp during working hours (Mon–Sat, 9 AM–6 PM IST).
Rarely. Even secured loans normally need a co-borrower, because the student has no income during the course.
They look at your academic record, admit, course and expected salary rather than a parent's credit score.
Yes, as long as the loan letter shows the amount and covers the funds you need to show.
Explore
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Related pages
Loan guides
More education loan guides
- How Much Education Loan Can I Get to Study Abroad?
- Is a Co-Applicant Mandatory for an Education Loan?
- Education Loan Interest Rates for Abroad Studies
- Education Loan Tax Benefit: Section 80E and Section 129
- Education Loan Moratorium Period Explained
- Margin Money in Education Loans: How Much You Pay
- Education Loan Documents List for Abroad Studies
- Education Loan Process for Abroad Studies
- Education Loan Disbursement Process
- All loan guides
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