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Hassle-Free Education Loans Without Collateral for USA Based on GRE Scores

Studying in the USA is a dream for many aspiring students worldwide. Education at top-notch universities creates a path to a plethora of experiences and career opportunities. It provides learning experiences like no other, thus making it a sought-after study destination. But, when it comes to studying in a foreign country, the financial aspect often poses a significant challenge. Not everyone has substantial funds readily available for international education. In such scenarios, financial planning becomes a priority. While there are numerous funding options available to make foreign education more accessible, taking an education loan has always been a preferred choice.

Dreaming of studying in the USA is one thing; financing that dream is another. Yet, fret not, for where there's a will, there's a way. With innovative overseas education loan schemes for ambitious scholars, you can now get a loan without collateral to study in the USA. Yes, you read it right! One such avenue worth exploring is foreign education loans based on GRE scores and that’s what our latest article is all about.

Let's explore this innovative financing avenue and see how your GRE scores can help you get hassle-free funding for your higher education.

An Overview of GRE & its Scores

The Graduate Record Examination, commonly known as GRE is a standardized test that is widely used for admissions to graduate and business schools globally. It evaluates the test taker’s readiness for advanced studies by assessing their skills in three sections and has a test duration of 1 hour 58 minutes. They include verbal reasoning, quantitative reasoning, and analytical writing skills. GRE scores have a decisive role in the application process for many universities in the USA and other countries. Having higher GRE scores enhances your chances of securing admission to a top-ranked university as well as in getting financial aid. An overall score of 300+ is considered to be good and 310+ scores are considered to be high.

With more than 1,000 test centres in 160+ countries, the GRE test has multiple test dates all-round the year. The test can be scheduled online, and the test registration fee is $220. Furthermore, the score report will come after 8–10 days of the test date and you can directly send it to your shortlisted institutions.

After having an overview of the GRE, let’s have a quick glance at the impact of a good GRE score in regard to your higher education as well as loan prospects.

Impact of a Good GRE Score on Higher Education & Loan Sanction

The impact of a good GRE score is much stronger than you must have thought about. Read on to know more.

  • A good GRE score can help you get admission to a top-ranked university.

  • You can also get scholarships and other University awards based on your GRE scores.

  • It can significantly speed up the approval of education loans, especially unsecured ones. Generally, files with high GRE scores are processed in 2-3 working days.

  • Loan applicants with impressive GRE scores qualify for higher loan amounts, lower interest rates and more favourable loan terms.

  • The high GRE scores reassure financial lenders about the ability to succeed academically and repay the loan.

  • The high GRE scores speak volumes about the applicant’s intellectual calibre and potential for success, visa officers also consider the score for visa approvals.

  • It also helps you to get a Research Assistantship (RA) or a Teaching Assistantship (TA) from the University. Obtaining a graduate assistantship in a country like the USA can be a great financial support as well.

  • Lastly, with so many feathers in your cap, your GRE scores can also help you get a high-paying job in the USA.

Top Banks & Financial Institutions Providing GRE Score-Based Unsecured Loans

With a strong GRE score, you're not just a student; you're an investment in the making. Thus, several banks and financial institutions offer education loans without collateral to students with high GRE scores.

Loan Provider 
Unsecured Loan Amount 
Rate of Interest
Up to 1 Crores for Prime Listed Universities
10.65% - 12.75%
Axis Bank 
Up to 75 Lakhs for Prime Listed Universities
11.00% - 12.75%
IDFC First Bank
Up to 75 Lakhs for Top-Ranked Universities
10.85% - 12.75%
Tata Capital
Up to 75 Lakhs for Top-Ranked US Universities
12.00% - 13.50%
Up to 75 Lakhs for Top-Ranked Universities
11.50% - 14.00%
HDFC Credila
Up to 75 Lakhs for Top-Ranked US Universities
11.50% - 12.75%
Yes Bank
Up to 50 Lakhs for Top-Ranked Universities
11.00% – 13.00%
Up to 45 Lakhs for US Universities
11.50% - 12.75%
Up to 45 Lakhs for US Universities
11.50% - 12.75%
Prodigy Finance
Up to USD 100,000 for Masters
For Masters - 10.55% - 14.5%
MPower Finance
Up to USD 50,000
For Bachelors - 13.99% (Fixed)
For Masters - 11.99% (Fixed)  

Documents Required for GRE-Based Loans

Applying for an education loan based on GRE scores requires submitting various documents to the financial lender. Commonly required documents include the following.

  • GRE Score Report with a score of 300+

  • Confirmation of Acceptance from a Recognised University or Institution

  • 6 Months of Bank Statements

  • A Good CIBIL score of the Co-applicant

  • KYC Documents

  • Academic Documents

With these documents in hand, you can get an unsecured education loan sanctioned in a quick and hassle-free manner. Not just this, most of the above-mentioned financial institutions offer 100% loan funding covering all kinds of study expenses.

Looking at the enormous advantages of having a good GRE score might have left you thinking about what to do if your score is less than 300. Well, this is what brings us to the next segment of this article.

Retaking a GRE Test for Better Scores: Is it the Right Choice?

For test takers seeking to improve their GRE scores to enhance their loan eligibility or increase their chances of securing admission and scholarships, retaking the GRE will be a good option. However, it is also important to weigh the benefits against the potential drawbacks, including the additional time and effort required for preparation, the cost of retesting, and the possibility of not achieving the desired results. Thus, you should be very confident and well-prepared if you decide to retake the GRE.

Summing up this article, this is all that you must know about student loan for USA based on GRE scores. Connect with team Élan to know more about such unique loan schemes and other details related to loan applications based on your GRE score. We're here to guide you through every step of your funding journey towards the USA.

This investment in your academic future will surely have promising substantial returns! So, connect with our team today!

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