What types of student loans are available for studying in France?
If you’re planning to study in France and need financial support, there are a few types of student loans you can explore. Here’s a quick overview of education loans for studies abroad, especially France:
- Government-Backed Student Loans (Prêt Étudiant Garanti par l’État)
- This is a loan guaranteed by the French government, meaning you don’t need a guarantor (like a family member) to co-sign the loan. It’s available to French citizens and EU residents, but some banks may extend it to international students as well. The loan amount typically ranges up to €15,000 (INR 13 lakh approx) and can be repaid after you finish your studies.
- Private Bank Loans
- Many French banks offer student loans to both domestic and international students. To qualify, you might need a co-signer (someone who can guarantee repayment if you can’t). Popular banks like BNP Paribas, Société Générale, and Crédit Agricole offer student loans with competitive interest rates. Loan amounts and terms can vary, so it’s good to compare before choosing.
- Loans from International Financial Institutions
- If you’re an international student, you might also consider education loans from institutions in your home country, like Prodigy Finance or MPower Financing, which provide loans specifically for studying abroad. These institutions often don’t require collateral or a guarantor.
- Erasmus+ Loans
- If you’re from a European Union country and studying in France as part of an Erasmus+ program, you may be eligible for an Erasmus+ Master Loan. This offers financial aid to students pursuing a full master’s degree in another European country, including France.
Before applying for any loan, make sure to check the eligibility criteria and repayment conditions to choose the best option for your situation. Good luck!
1 Like
