Studying medicine abroad is a dream for many Indian and international MBBS aspirants. However, the financial burden that is associated with medical education in a foreign country sometimes raises concerns. One of the most common questions most MBBS aspirants ask is whether they can obtain an education loan to study mbbs abroad . The answer is unequivocally yes—many private and nationalized banks and financial institutions offer mbbs abroad loans for indian students.

Here are the types of education loans to study mbbs abroad

MBBS aspirants who look for MBBS abroad Loan services can explore two primary types of education loans:

  • Secured a loan to study MBBS from abroad

  • Unsecured loans for foreign medical education

Normally, a secured loan needs collateral. You must have a property or fixed deposit to show to the bank to get the education loan to study mbbs abroad. On the other hand, unsecured loans don't need any collateral. You will have to pay the higher rate of interest.

Education Loan to study MBBS Abroad: Eligibility Criteria

To qualify for an education loan to study MBBS abroad, you must meet the eligibility criteria. Most top private and nationalized banks require the applicant to be an Indian citizen. You must have secured admission to a recognized foreign medical university. It is good if the universities in NMC and WHO-approved and maintain a strong academic record. In addition to that, having a co-applicant, like your custodians, such as parents, or having a stable monetary condition, is mandatory.

The Best Country to study MBBS for Indian students

Now, the question is, which is the best country to study mbbs for indian students ? Which countries are best in terms of quality education, exposure, and career prospects? Let's discuss that! Some of the best countries for studying MBBS abroad for Indian students at a low cost are:

  • Russia

  • Kyrgyzstan

  • Kazakhstan

  • Georgia

  • Philippines

  • Egypt

  • Nepal

  • Bangladesh

 

As discussed above, an MBBS from abroad is a dream for many Indian students who are from middle-class families. You should consider the fee structure of the particular medical schools and education loans to study mbbs abroad before you move.

Best medical colleges abroad

Here, we have discussed the top five medical colleges abroad for Indian students, and the countries are Russia, Georgia, Kyrgyzstan, and Kazakhstan.

Russia

  • Kemerovo State University 

  • Tver State Medical University 

  • Bashkir State Medical University 

  • Crimea Federal University 

  • Orenburg State Medical University 

 

Georgia

 

  • Teaching University Geomedi

  • University of Georgia

  • Georgian National University

  • Georgian American University

  • Batumi Shota Rustaveli State University 

Kyrgyzstan

  • Kyrgyz State Medical Academy

  • Kyrgyz Russian Slavic University

  • Osh State University

  • Jalal-Abad State University

  • Asian Medical Institute

Kazakhstan

  • Kazakh National Medical University

  • South Kazakh State Medical University

  • Al-Farabi Kazakh National University

  • North Kazakhstan State University 

  • Astana Medical University

 

Now, again coming to the education loan to study mbbs abroad part. Apart from the eligibility criteria, the education loans to study medicine in a foreign country. You must remember the following things:

  • Documents Required for Loan Approval

  • Loan Coverage and Repayment Terms

  • Government-Sponsored Loan Schemes

  • Role of NFCS in Education Loans

  • Importance of University Recognition

  • Challenges in Obtaining an Education Loan

  • Loan Application Process

  • Alternative Funding Options

To Include

You must consider the abroad MBBS fees before you move, and think about the loan facility. If the tuition fees are within your budget, you don't need to take any loans. Obtaining an education loan to study MBBS abroad is a feasible option for sure, but understanding the eligibility and payback options is important. There are challenges in obtaining an education loan for students aspiring to study MBBS abroad. Proper financial planning not only ensures a smooth academic journey sans excessive financial stress but also gives you a hassle-free MBBS journey abroad.