College fees in India have doubled in the last decade. An engineering degree that cost ₹4 lakh in 2015 now costs ₹8-12 lakh. MBA programs at top colleges run ₹15-25 lakh. Medical education can cross ₹50 lakh at private colleges. For most families, paying this from savings alone is not possible. An education loan bridges this gap — but choosing the wrong loan, the wrong lender, or the wrong repayment plan can burden you for years after graduation. This guide covers everything you need to know about education loans in India: types, interest rates, eligibility, and smarter alternatives. Types of Education Loans in India Type Loan Amount Interest Rate Collateral Best For Bank Education Loan ₹4 lakh – ₹1 crore+ 8-12% Required above ₹7.5 lakh Full degree programs (B.Tech, MBA, MBBS) NBFC Education Loan ₹1 lakh – ₹50 lakh 11-16% Usually not required Faster processing, flexible eligibility Government Scheme Up to ₹10 lakh Subsidized (4-8%) Not required Econ...