How to Get an Education Loan for Online Learning
Online Learning is growing fast in India and around the world. Many students now choose to study from home through online degree programs, diploma courses and skill-based certification courses. These courses are flexible, affordable and time-saving. But some online programs still come with high fees, especially those offered by top universities or foreign institutions.
So, if you are planning to take up an online course and need financial help, you can apply for an educational loan for online learning. Yes, banks and NBFCs now offer loans for online education too.
In this blog, we will explain how you can get an education loan for online courses, who can apply, what documents are needed and which banks provide such loans.
Can You Get a Loan for Online Courses
Yes, you can get a loan for online courses. Earlier, most education loans were offered only for regular classroom courses. But now with the growing popularity of online degree programs, many banks and NBFCs (Non-banking financial companies) offer loans for online education too. You can apply for education loan if:
- The course is UGC approved (in India).
- The university offering this course is recognized by AICTE, NAAC, or a government body.
- The course is offered by a foreign university with valid online programs.
- The course is of long term duration (6 months or more) and leads to a degree, diploma, or professional certificate.
Types of Online Courses Eligible for Loans
Before applying for an education loan, it is very important to know which types of online courses are accepted by banks and finance companies. Not all courses qualify, so choosing the right one is key. Here are the main types of online courses that are eligible for education loans.
Online Degree Programs
These are full time undergraduate and postgraduate degree programs offered entirely online. The degree you earn is equivalent to a regular degree, as long as it is from a UGC recognized university. These courses are designed to offer flexibility to working professionals, homemakers and students who cannot attend regular classes.
| Online Degree Courses | Career Focus |
|---|---|
| Online MBA | Business, management, and leadership roles |
| Online MCA | Software development, IT, and tech jobs |
| Online BBA | Business and corporate world |
| Online BCom | Finance, accounting, or banking careers |
| Online MA/MSc | Teaching, research, data science, and more |
Top Universities Offering Online Degree Courses
- Indira Gandhi National Open University (IGNOU)
- Amity University Online
- Jain University Online
- Chandigarh University Online
- Manav Rachna Online
- UPES Online
- Lovely Professional University (LPU) Online
Many of these courses come with interactive live classes, recorded videos, virtual assignments, and even placement assistance. These long-term degree programs are eligible for education loans, especially if the university is UGC-approved.
Online Diploma and PG Diploma Courses
| Diploma Courses | Description |
|---|---|
| Digital Marketing | Learn SEO, Google Ads, Social Media Marketing, and content strategy |
| HR Management | Suitable for roles in recruitment, employee relations, and training |
| Logistics and Supply Chain | For careers in warehousing, inventory control, and distribution |
| Cybersecurity | Learn ethical hacking, network security, and data protection |
Top Institutions Offering Diploma Courses
- Symbiosis Centre for Distance Learning (SCDL)
- NMIMS Global
- Jain University Online
- IIMs (in executive format)
- Jamia Hamdard Online
These diploma courses typically last for 6 to 12 months. Some banks and NBFCs offer education loans for these programs, especially if they are from recognized institutions and have strong career outcomes.
Foreign University Courses
Many students now prefer to study courses from international universities through online platforms. These courses are globally recognized and often come with dual certification or credit transfer options.
These programs are delivered via top global platforms like:
| Platform | Top Universities/Partners | Types of Courses |
|---|---|---|
| Coursera | Yale, Michigan, Google | Online MBAs, Executive Education Programs |
| edX | Harvard, MIT, Oxford | Master’s in Data Science, Master’s in Computer Science |
| upGrad | Deakin University, Liverpool John Moores University, University of Essex | Professional Certificates in AI, Blockchain, Cloud Computing |
| Simplilearn | Purdue University, Caltech, IBM | Certifications in AI, Data Science, Digital Marketing |
Types of Courses Available:
- Online MBAs
- Executive Education Programs
- Master’s in Data Science or Computer Science
- Professional Certificates in AI, Blockchain, or Cloud Computing
These courses can be part-time or full-time depending on the course structure. If the foreign university is accredited and the course is of sufficient duration and cost, many NBFCs like Avanse, HDFC Credila, and InCred are willing to offer education loans.
Job oriented certification programs
| Course | Key Skills Covered |
|---|---|
| Data Science | Python, R, Machine Learning, Big Data Analysis |
| Full Stack Development | HTML, CSS, JavaScript, React, Node.js |
| Financial Modelling | Valuation, Forecasting, Investment Banking Applications |
| Business Analytics | Excel, SQL, Tableau, Business Intelligence |
Top Platforms Offering These Courses:
- upGrad
- Scaler
- Simplilearn
- Great Learning
- Edureka
- Imarticus Learning
Many of these platforms are partnered with NBFCs such as Propelld, Eduvanz, and LiquiLoans to offer financial support. These options include no-cost EMI plans and small ticket loans starting from ₹10,000. Loan eligibility typically depends on course fees, duration, and the platform’s partner institutions.
Eligibility Criteria for Education Loans for Online Learning
| Criteria | Details |
|---|---|
| Nationality | You must be an Indian citizen |
| Age | Usually 18 to 35 years |
| Academic Qualification | Must have completed 10+2 or graduation |
| Course Approval | Course must be from a UGC/AICTE-recognized institution |
| Admission Letter | Proof of admission in the online course |
| Co-applicant (if needed) | Parent/guardian with a regular income |
Note: Some banks may also ask for collateral or guarantors, depending on the loan amount and type of course.
Documents Required for Online Education Loan
| Document Category | Details |
|---|---|
| Personal Documents |
Aadhaar Card / PAN Card Passport-size photographs Address proof (utility bill, rent agreement, etc.) |
| Academic Documents |
10th, 12th marksheets Graduation degree (for PG courses) Entrance exam results (if applicable) |
| Course-Related Documents |
Admission letter/email from the institution Course duration, curriculum, and total fees |
| Income Proof (for secured/unsecured loans) |
Salary slips (if employed) ITR (Income Tax Return) of parent/guardian Bank statements (last 6 months) |
Steps to Apply for Education Loan for Online Learning
Applying for education loan for online learning is a simple process if you follow the right steps. Here is a step-by-step guide to help you get started smoothly.
| Step | Description |
|---|---|
| 1. Choose a Course & Institution | Make sure the course is from a recognized university or platform. Check for UGC, AICTE, or international recognition. |
| 2. Research and Compare Loan Offers | Check interest rates, processing fees, moratorium period (if any), and repayment terms from different lenders. |
| 3. Prepare Your Documents | Collect all required documents like ID proof, address proof, income proof, academic certificates etc. |
| 4. Submit the Loan Application | Apply either online on the bank/NBFC website or visit their branch. Fill in all details carefully. |
| 5. Verification and Loan Approval | The bank will verify your documents and application. If everything is correct, you will get a sanction letter. |
| 6. Loan Disbursal | Once approved, the loan amount is disbursed directly to the institution or into your account (based on lender’s policy). |
Top Banks and NBFCs Offering Loans for Online Courses in India
Picking the right loan provider is just as important as picking the right course. Many banks and NBFCs in India, such as HDFC Credila, Avanse Financial Services, Axis Bank, InCred, Eduvanz, and Propelld, give education loans for online courses. Below are some of the top places you can check for help with paying your online course fees.
Alternatives to Education Loans
If you’re not able to get an education loan or prefer other options, don’t worry. There are several easy and flexible ways to fund your online learning. Here are some popular alternatives to education loans you can explore.
| Option | Details |
|---|---|
| Affordable Online Programs | Many UGC-approved universities in India now offer budget-friendly online degrees and diplomas with fees starting as low as ₹10,000 per semester, making it easier to study without taking a loan. |
| EMI Plans from EdTech Platforms | Many courses from upGrad, Coursera, edX, and Simplilearn offer 0% interest EMI options. |
| Scholarships and Grants | Universities and private firms sometimes offer merit-based or need-based scholarships. |
| Employer Sponsorship | If you are working, check if your company provides financial help or reimbursements for online learning. |
| Crowdfunding | Some students use crowdfunding platforms to raise funds for online education. |
Conclusion
Online learning is now a trusted and flexible way to gain knowledge, grow skills and earn recognized degrees. If you are worried about the cost, don’t let that stop you. You can now get an education loan for online degree courses, just like you would for a regular college.
Just make sure your course is recognized, your documents are complete and you research different loan options before applying. With a little planning, you can start your learning journey with full financial support.
Most Popular Blogs
LPU Online MBA Fees- EMI Options, Placement and Admission Process 2025
Amity Online MBA Fees and Admission Process
Distance Learning vs Correspondence Courses
How to Get an Education Loan for Online Learning
Can You Do a Distance MBA Without Work Experience
