Study in Germany with Globcred: Free Education, Top Universities & Smart Education Loans

At GlobCred, we work closely with a broad network of banks and NBFCs both in India and internationally to offer students access to the most competitive loan options. Once you submit the necessary documents, we share your profile with our lending partners for assessment. After receiving approvals, we actively negotiate on your behalf to secure the best possible loan terms. Our mission is to help every student obtain funding that is both affordable and tailored to their needs.

While there is no rigid academic requirement, a strong academic profile can significantly enhance the likelihood of loan approval. Additional considerations include the applicant’s financial standing and professional background.

A valid offer or admission letter from a recognized and affiliated institution is a mandatory requirement to initiate the education loan process.

DOCUMENT LIST FOR EDUCATION LOAN: INDIAN STUDENT

• Passport
• Pancard
• Adhaar Card
• 10th, 12th grade sheet and graduation mark sheets (all semesters) with degree.
• GRE, TOEFL or IELTS or DUOLINGO exam score card
• Admission letter

CO-APPLICANT (SELF-EMPLOYED)

• Pancard
• Adhaar Card
• Latest 6 months bank A/C statements (current and savings A/C as applicable)
• Last two years income tax return with acknowledgment, computation of income, profit-loss A/C and balance sheet.
• Business proof
• Light bill
• Savings proof: FDs, MFs, Shares, Bonds, KVPs, LIC Surrender value, etc. (alternatives)

FATHER AND MOTHER:

Adhaar and Pan Card

Yes, as long as the program is offered by an institution approved under the GUS network.

Depending on your profile and financial background, you may be eligible for up to 200% of your program cost.

The loan typically covers tuition fees, living expenses, insurance, airfare, and blocked account deposits. However, the specificity varies from lender to lender.

The student can secure an education loan or a low cost personal loan for the similar category programs through GlobCred.

A request to revise the sanctioned loan amount—either an increase or decrease—can be made prior to signing the sanction letter. Once the sanction letter is signed, no further modifications are permitted.

• Secured Loan: Requires collateral such as property, FD, or LIC policy. Generally comes with lower interest rates and higher loan limits.
• Unsecured Loan: Does not require collateral but is based on creditworthiness. Interest rates may be higher, and loan limits are usually lower.

A co-signer is a person who agrees to take joint responsibility for a loan along with the primary borrower. If the borrower is unable to repay the loan, the co-signer is legally obligated to repay the debt.

In the context of education loans, especially for studying abroad, a co-signer (often a parent, guardian, or close relative) is required when:

• The student has limited or no credit history
• The lender needs additional assurance of repayment,
• Or the student doesn't meet the financial eligibility on their own.

Having a co-signer with a strong credit profile can improve the chances of loan approval and may also lead to better interest rates.

A co-applicant/co-signer is required in cases where the loan is secured by collateral or when the student does not meet the eligibility criteria independently. Typically, a parent or legal guardian assumes the role of the co-applicant.