Dreaming of an MBA from a top USA university? You are not alone. Thousands of Indian students are eyeing the B-schools of America every year, only to face one hurtful truth: the expense.
Tuition fees that can seem like a mountain, living expenses that can burn a hole through savings, and currency exchange rates that just compound the problem. Are you someone who has racked your brains over your acceptance letter and looked between pride and panic? This blog could be useful to you!
Finding a proper education loan for MBA course USA is a bit like walking through a maze – too many banks and NBFCs, co-signers, interest rates, and fine print. You simply wish somebody would explain it all. That is what we are here to do.
Why Education Loans Are a Lifeline for Indian MBA Aspirants in the USA
Stepping into an MBA college in the USA can be life-changing. But for most Indian students, the cost can be overwhelming without any external support.
The average cost to study an MBA in the USA for Indian students can range from $70,000 to $120,000. Living expenses can add up to $10,000 to $30,000 per year, while the tuition fees can fall between $60,000 and $100,000.
Although there are scholarships for an MBA in the USA, they are usually few and very competitive. That’s where loan options for studying MBA in the USA come in handy.
Top Indian Banks Offering Education Loans for MBA in USA
Education loan for MBA in USA for Indian students is not as simple as it may sound, and finding the right bank may mean do or die. The best Indian banks offering education loans for the MBA course USA are as follows:
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State Bank of India (SBI) offers up to INR 3 Crores at an interest rate of 8.65% to 9.15%.
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Bank of Baroda (BOB) provides loans up to INR 1.5 Crores, with rates starting from 8.70%.
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ICICI Bank can offer up to INR 3 Crores, with interest rates ranging from 10.25% to 13.75%.
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IDFC FIRST Bank offers up to INR 1.5 Crores, starting at 9.5% interest.
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HDFC Bank can cover up to 100% of the cost of education, with interest rates starting from 8.64%.
Best Education Loan Providers: Banks vs. NBFCs Compared
When students plan to take a student loan for MBA in USA, they are usually confronted with two options: the traditional banks and the Non-Banking Financial Companies (NBFCs).
Here’s why you should choose a Bank:
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When you have a strong academic record
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When you have secured admission in United States to a top-tier US B-school
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When you can provide collateral (like property, FDs, or insurance)
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When you want lower interest rates
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When you are looking for longer repayment periods and standard terms
Here’s why you should choose an NBFC:
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When you do not have collateral
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When you need quick disbursement (often as quick as 2–5 days)
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When your profile is not meeting traditional bank criteria
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When you are applying to a mid-tier university
If you are eligible for both, always compare processing fees, forex charges, interest rate, and repayment flexibility.
Where Nomad Credit Fits into Your US MBA Loan Journey
Navigating education loan for MBA course USA can be overwhelming. Different lenders, complex eligibility rules, collateral demands, hidden charges, and whatnot. That’s where Nomad Credit makes your life easier.
Nomad Credit is your study abroad finance partner; they match Indian MBA aspirants with the best-fit loan options for studying MBA in the USA from a wide network of banks, NBFCs, and international lenders. Whether you want collateral-free loans, faster approvals, or personalized interest rates, they simplify the process for you — for FREE.
Here's what makes Nomad Credit different:
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Profile-based loan suggestions for your course and university
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Faster approvals and assistance with documentation
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1-on-1 FREE expert guidance throughout your admission in United States journey
Find the Best MBA Loan for the USA with Nomad Credit
