How Much Education Loan Can I Get
How Much Education Loan Can I Get
Blog Article
A Comparative Analysis of Medical and Engineering Loan Amounts
Introduction
How Much Education Loan Can I Get? In India, the cost of higher education is rising, particularly for specialized programs like engineering and medicine. it is as more students pursue careers in these fields, education loans are playing a critical role in supporting their academic journeys. However, the cost structure and funding needs for medical and engineering programs differ significantly, influencing how much students can borrow.
In this article, we compare medical vs engineering loan amounts, examine what banks typically offer in 2025, and help students & parents understand which factors influence these limits and how to prepare for loan applications.
Loan Requirements: Medical vs Engineering
| Category | Medical | Engineering |
| Course Duration | 5.5 years (MBBS) | 4 years (B.E/B.Tech) |
| Typical Fees | ₹50 lakh – ₹1 crore (private) | ₹3 lakh – ₹20 lakh (private/IITs) |
| Living Costs | Moderate to high (especially in cities) | Moderate |
| Foreign Study Costs | ₹1 crore+ | ₹40 lakh – ₹1.5 crore |
Medical courses usually require higher loan amounts. How Much Education Loan Can I Get, especially in private and international institutions?
Loan Amounts Offered in 2025
Unsecured (No Collateral)
| Loan Type | Engineering Students | Medical Students |
| Public Banks | Up to ₹7.5 lakh | Up to ₹7.5 lakh |
| Private Banks/NBFCs | ₹10–15 lakh (for top-tier) | ₹15–25 lakh (NEET rankers) |
Approval depends heavily on the co-applicant’s financial profile and the reputation of the institution.
Secured (With Collateral)
| Loan Type | Engineering Students | Medical Students |
| Public Banks (SBI, PNB) | ₹20 lakh – ₹1 crore | ₹50 lakh – ₹1.5 crore+ |
| NBFCs (HDFC Credila, Avanse) | Full cost coverage | Full cost coverage |
Higher loan limits are sometimes needed by medical students, particularly when attending private universities or studying overseas.
Elements of Loan Approval
- Admission status (seat confirmed via JEE, NEET, or similar)
- Ranking of the Institute
- CIBIL score and co-applicant income
- Value of collateral (if applicable)
Which Course Cost Structure Is Easier to Finance?
- Due to lower tuition prices, engineering loans are frequently easier to obtain for smaller sums.
- Medical loans need long-term repayment planning, are more complicated, and typically call for collateral.
Conclusion
Due to lengthier course lengths and greater tuition costs, medical students' education loans in 2025 tend to be larger than those of engineering students. How Much Education Loan Can I Get? Although public and commercial lenders support both streams, medical students frequently require collateral-based loans to meet expenses over₹20–30 lakh, but the majority of engineering students, whether they are attending prestigious universities or studying overseas, can get by with loans between ₹5–15 lakh.
You may make an informed choice and make sure that your professional aspirations are not constrained by financial limitations by being aware of your course needs, financial profile, and bank loan limits. Report this page