Leap Finance offers Indian students education loans to pursue higher studies in the US. If you have been accepted into an American university and need help to finance the expenses, read on to learn if student loans from Leap Finance could be a solution for you.
Leap Finance offers education loans to qualifying students pursuing Master’s at US universities.¹ Loan amounts range from USD 15,000 to USD 100,000, and the funds can cover up to 100% of the tuition and other expenses, such as living costs and travel. Depending on the borrower’s loan application, loans can be provided without requiring collateral or a guarantor.
To qualify for a Leap Finance loan, you must be accepted into one of the supported US universities.
Here are some of the benefits of using Leap Finance for Indian students:
Here are the prerequisites for Leap Finance Education Loan:³
Leap Finance Education Loan currently supports universities in 11 US states: Arizona, Florida, Georgia, Illinois, Massachusetts, North Carolina, New Jersey, New York, Utah, Virginia, and Wisconsin.
You can check your university’s eligibility on the Leap Finance website. 👉
The rate of interest on Leap Finance education loans range from 11.50% to 12%.⁴ The loan interest can depend on your profile, including your academic record, credit history, previous experience, and future job prospects based on your chosen program and the university’s reputation.
Leap Finance charges a processing fee of 3% of the loan amount.¹
If you have an active loan with higher interest rates for STEM Masters program in the US, you can consider refinancing your previous loan with Leap Finance.⁵
Leap Finance has a straightforward online application process for student loans.⁶
All the applicants must then sign the agreement at the appropriate places, which completes the loan application process. You will need to pay the remainder of the processing fee, 2%, when you request the loan funds from Leap Finance.
Once you have paid the balance of your processing fees, you can coordinate with Leap Finance to disburse the tuition and fees directly to the university or college.⁶
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To reach out to Leap Finance:
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Opening an overseas account is one of the first things you will need to figure out when you arrive abroad for your studies. Check out the Wise multi-currency account available for residents living in supported countries. Enjoy an account as worldly as you are and spend just like a local when you travel abroad with a linked debit card, while also paying less in fees.
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Sources used for this article:
Sources verified on 19 June 2023.
Cover photo by fan yang on Unsplash
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